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A couple of posts ago I wrote about a guy who won $42 thousand with Sportsbet. He did this by cashing out early on a MultiBet. Had he let the MultiBet play its course he would have lost the whole thing as the last two games ended in a draw. Even though I wrote that post I had so many questions about MultiBets that required an answer. What is a MultiBet? How exactly does a MultiBet work? Is it easy to place a MultiBet? More importantly are MultiBets worth the effort.
What you see on the right is the MultiBet I placed just after using my freebie ‘bonus bet’ from Sportsbet. You can see my first bet on the right. As to what is a MultiBet, that’s really not as hard as it sounds.
What Is A MultiBet?
Simply put a MultiBet is when you lump several of your single bets together. The reason for a MultiBet is to increase your odds. As you know the better the odds the more you stand to win. Let’s look at my bets on the right to see what I could’ve won.
Greater Western Sydney $1.41
West Coast $1.45
Adelaide Crows $1.26
By combining all those bets together I’ve now increased my odds to $9.19. I got that figure by multiplying each of the bets together. That’s 1.42 x 1.41 x 1.57 x 1.60 x 1.45 x 1.26 = $9.19. Had all bets won my $4 MultiBet would have netted me $36.75! The reason I only placed a $4 bet was to keep within my responsible gambling guidelines which is to not spend more than $10 per week on my sports bets, having already placed a dollar on each of those bets.
Even if I had placed $2 on each bet individually and they all won I would only have won $18. That’s why MultiBets are so much better.
The problem is if any one of the bets loses then you lose your MultiBet. That’s what makes being able to cash out on a MultiBet so popular. That’s why that guy was able to win $42 thousand instead of losing the lot.
Unfortunately for me I backed Essendon to beat Collingwood and they lost. Shit who would of thought that would happen? Because my first bet lost I didn’t have a chance to cash out. Oh well, shit happens right?
The good thing is it wasn’t a total loss because each of the winning bets still paid off so out of my $10 wager I still managed to win $4.46!
Now that you know how a MultiBet works you probably want to know how easy it is to place a MultiBet online. I reckon I will leave that for the next post. Not only will I give you a step by step rundown on how to place a MultiBet I’ll also divulge why I’m thinking of doing more MultiBets in future,
I love it when sports betting companies come out with great ideas, ideas that pay great dividends to their members. Sportsbet wins the most innovative sports betting idea. One that paid off really well for one of their members. Check out the email I got from them today. It’s all about their innovative Cash Out On A MultiBet idea.
How to use Cash Out on a MultiBet
Cash Out. It’s here, it’s available on your mobile, but how does it work? The concept may be tricky to learn, but as one punter found out it’s simple to master, especially when Cashing Out of a live MultiBet.
Cash Out works by offering you a payout at stages after your bet is placed and before your event ends. So when one lucky punter had nine out of eleven legs in a $20 soccer multi come through, he decided to take his winnings and run, Cashing Out for a smooth $42k! Good thing too, because his last legs went on to lose! Read the full story here.
So what are the main things to remember when you want to Cash Out of a Multibet?
The Cash Out feature is not available for a MultiBet unless each individual leg or event within that MultiBet is eligible for Cash Out.
For a bet to be eligible for Cash Out, there must be a live price available on the event.
Live prices wont be available when a score is being updated or if a market becomes suspended. So you need to make sure all legs of your MultiBet are live and eligible at the same time when hitting the Cash Out button, or it will ask you to resubmit your request.
Cash out is not applicable when a bonus bet has been selected.
Cash Out is available on a range of markets, including all our Head to Head AFL & NRL matches this weekend – all on site already! Now that you’re armed to the teeth with everything you need to know, give it a shot today and you could end up as our next Cash Out King or Queen!
Pretty cool huh? I’ve never tried a MultiBet. Shit, I have trouble enough winning one bet let alone getting several outcome right. :pull_hair:
How about you? Have you placed MultiBets before? If you have, how did it turn out for you?
For me sports betting isn’t all about winning bets. It’s more about using my sports bet to improve the enjoyment factor of the sports I choose to watch. As I’ve said on more than one occasion having a bet on makes watching the game that more exciting.
Having said that if I have a chance to improve the chance of winning a bet I’m going to take it.
That brings to mind the post I wrote a while back called improving your odds on a sport bet. The problem with that example is that the team you back have to win for the bet to pay off.
For todays post I’m going to give you an example of covering your bets to increase your chances of winning.
Covering Your Bets To Increase Your Chance Of A Win
My bet of the week today was on the Adelaide United vs Melbourne Victory game tonight. I decided on the covering your bets option after Lady Luck advised me against placing a bet. I checked my favourite online bookies before placing a bet to see who offered the best odds. This time it turned out to be William Hill.
As you can see I placed $10 on Adelaide United to win as well as $5 on Melbourne Victory to win. The only way I can lose this bet is if it’s a draw or if the win happens in extra time. I wrote about that in the post When a Win Is Not A Win. I tell you, it was a bit upsetting when that happened to me the first time but now that I know all bookies apply that rule I’m now fine with it.
Covering your bets may not always come out in a win win situation, as this one did. It all depends on what odds were being offered. If the odds on Melbourne victory was any lower I wouldn’t have bothered applying the covering your bets rule and just placed a straight bet on Adelaide United to win.
By applying the covering your bets option an Adelaide United win will net me a profit of $6. If Melbourne Victory wins I only win $1 but that’s better than not winning anything at all. Either way it increases my William Hill sports betting bankroll. And, increasing your sports betting bankroll is always a good thing. :drunk: