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The betting landscape has changed in the last 10 years, especially with UK-facing trusted brands. Changes at operators like bet365, Ladbrokes and William Hill appear at European bookmakers and operators around the rest of the world. Traditionally, a bookmaker published fixed odds for a sporting event and customers placed the back best bet. Betting exchanges allow bettors to play the role of the bookmaker by accepting bets. Laying a team in a football match led to the introduction of cash-out betting. This is akin to placing a back bet with a betting exchange and placing a counter lay bet. Cash-out is an important element of the William Hill bet in-play service. The Bet Engine automates this process but is only available for horse racing and greyhound racing and not football.
The growing trend for customers to have more control of their bets led to custom betting. Steps to follow in how to use the Bet Builder bet365 indicate the best way to apply the concept. Customers create their best bet by selecting a number of outcomes and events in a football match. The combination of events is not always available in the regular betting, so customers are creating a personalised bet. The operator offers odds on all the events happening. The odds do not always equate to the combined odds for each individual event taking place. Bookmakers reduce the odds for a winning personalised multiple best bet, and this is the cost of the service.
BET BUILDER RELATED CONTINGENCIES
It could be Request A Bet or the ComeOn bet that is custom. A key element of any bet builder service is related contingencies. A related contingency is one event in a football match that affects the probability of another event happening. For example, if a backed player scores the first goal, his team shorten in the match winner betting. A scorer and the team’s result are related, A bettor who looks at how to use Bet Builder bet365 should be aware of this concept. If two events are related, the bookmaker reduces the odds. The combined odds are less than the odds in the regular markets when they are combined. Related contingencies can lead to complaints, but bookmakers clearly state the rules for devising the custom best bet.
BET BUILDER SPORTS AND EVENTS
Football is the most popular online betting sport. Bettors have access to custom betting on the major matches. Operators such as bet365 publish match and outright winner odds for hundreds of leagues and Cups. Custom betting such as Request a Bet with SkyBet applies across a number of separate outcomes in a football match. So, at the time of writing, betting on other sports did not feature custom betting. Operators may introduce more bet builder options in the fullness of time.
Custom bets combine events in a football match. These multiples might not seem obvious as bets. Before the introduction of personalised betting, bettors could place accumulators at fixed odds. There are no links between the options which can be selected from more than one match. Custom betting allows players to create their own bet, and the bookmaker offers odds. However, the customer can reject the bet offer if there is no value in the odds.
TYPES OF BET BUILDER SERVICES
The competitive nature of online betting means if one bookmaker introduces a new concept or service, bookmakers in the same market will introduce something similar. Each service has a slightly different name, but the concept and mechanics are common across all bookmakers. Request A Bet with SkyBet is basically the same as ComeOn bet Your Bet and Ladbrokes #GetAPrice. Here is more information about bet365 Build A Bet and similar services with competing bookmakers.
bet 365 Bet Builder
This section looks at how to use Bet Builder bet365. Bettors select a football match and display the betting options related to the three-way match winner market. A football bettor adds selections to create the personalised best bet. The service combines selections in a single bet at adjusted odds. So, here is an example of a bet365 Bet Builder bet:
- Player to score the first goal.
- Over 3 goals in a match.
- Over 5 cards in a match.
These outcomes could be related, so the odds are adjusted accordingly. There is a guide on how to use the Bet Builder bet365 service to create personalised bets.
William Hill #YourOdds
William Hill #YourOdds works in a similar way. The service applies to William Hill bet in-play markets. Customers select events in one bet to create what they believe is a personal best bet. The Bet Engine helps in automating this service and helps bettors put together their personal best bet.
ComeOn Your Bet
The ComeOn bet that allows customers to combine match events in one multiple is known as Your Bet. The concept involves making selections for match outcomes and creating a custom bet. However, the combinations are not available in the pre-match and in-play ComeOn bet product. Bettors put together the best bet from match outcomes. These outcomes can include goals, corners and bookings and more exotic markets such as the correct score, half-time/full-time result and the first, last or anytime scorer.
SkyBet Request A Bet
Request A Bet is the custom betting product with SkyBet. The facility allows customers to combine events in a football match such as the number of goals and cards, the first scorer and the result after 90 minutes. When customers request a bet with SkyBet, the operator offers odds which they can accept or reject. Here are the options SkyBet customers can include when creating a bet through Request a Bet:
- Match winner.
The scorecast is similar to Request A Bet because it combines the first scorer and correct score at adjusted odds. So, bookmakers do not multiply the odds. SkyBet reduce these odds because there is a relationship between the events. The scope of custom betting is only limited by the bettor’s selections and the bookmaker’s willingness to offer a custom price. The customer can accept or reject SkyBet’s odds.
The Ladbrokes’ custom best bet service is #GetAPrice. The football bettor adds selections from one match and asks for the odds. Some of the outcomes can be related, so bookmakers offer an adjusted price. This might not suit the customer who can reject the offer and create another personal best bet. The Ladbrokes custom best bet can combine the number of goals, corners and the match result after 90 minutes. Ladbrokes’ scorecast combines the first scorer and correct score in a multiple bet with reduced odds.
IN-PLAY BETTING BET BUILDER
The Bet Builder option with bet365 and the personalised best bet facility with other bookmakers are available during an in-play match. This type of bet is part of the trend for customers to take more control of their betting. Cash-out betting is another development that allows bettors to create personal bets. Bettors can cash out pre-match bets or earlier in-play bets during a football fixture.
The purpose of cash-out betting is to guarantee a profit or limit the loss from a bet before the bookmaker knows the final outcome and settles the bet. When a bettor creates a bet following the steps on how to use Bet Builder bet365, the individual can cash out the bet. The cash-out offer depends on the original stake and odds and the odds at the time of the cash-out best bet. The bettor cannot cash out when the trader suspends the betting after a significant incident, such as a goal in a football match.
THE BET ENGINE
The Bet Engine allows customers to automatically create their own bets. The feature plugs on to Betfair and applies to horse racing and greyhound racing. It is not a bet builder product nor a football betting product. Users specify certain criteria, and when they apply the Bet Engine creates the best bet. The service monitors a vast number of markets and places the bet when conditions meet the criteria. The Bet Engine performs similar tasks to Request A Bet by creating the best bet for the individual. The product also has staking plans for the back and lay best bet.