What Is A MultiBet
- Post author:Lazarus1
- Post published:April 30, 2015
- Post category:Betting/Betting Jargon
- Post comments:0 Comments
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.
- Essendon $1.42
- Greater Western Sydney $1.41
- Hawthorn $1.57
- Fremantle $1.60
- 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,