If you are thinking of placing a bet at an online sportsbook you may be wondering what happens if the odds change after you have placed your bet. The good news with a sportsbook bet is that you always know exactly what you should win because you are paid out based on the odds that were in place when you placed the bet.
Of course, this is not always a good thing. It’s entirely possible for odds to lengthen after you have put money on a result. This means that you could end up getting less of a payout for the same stake than someone who placed their bet later than you.
On the other hand, odds can significantly shorten; in which case you can benefit from having put your money down when they were at their longest. Let’s take a look at why the odds may change after you have placed a bet and how you can take advantage of possible changes when you are deciding which bet to make.
Why do betting odds change?
A bookmaker always sets initial odds for an event. These odds are computer generated and are based on the probability of certain outcomes. If you want to place a bet it’s worth looking for the best odds online. There is a huge choice of online casinos across the globe including online gambling in Macau which continues to be on the rise.
These Macau-based online casinos provide a real challenge to the traditionally western focused market. They also provide you with a potentially wider range of online betting options. Do not forget the initial odds you see are only early prices and they will be subject to change. There are two reasons why betting odds change:
- There is a change in the condition of the competitors or the venue which will potentially alter the performance of the competitors. An example of this is if the goalkeeper of a soccer team is injured on the day before the game and is unable to play.
- A larger amount of money is placed on one or more competitors. An example of this is if a large amount of money is placed on one player in a tennis match.
The bookmaker changes the odds to take into account the changes and to make sure that he balances the book. This is done to reduce his risk when it comes to paying out the winnings.
How can you take advantage of changing odds
There are a couple of ways that you can bet and take advantage of changing odds. Let’s take the example of a tennis match. You may see that the odds for each player are pretty even. You may then hear that there are rumors of an injury for one player. You may decide that it’s worth putting money on the other player before the news really breaks and the odds change.
This means you get a better deal. Alternatively, you may see that a particular player has shorter odds than you would expect and suspect this may be due to his large fan base rather than his actual chance of winning. In this case, it may be a good idea to take advantage of the favorable odds for the other player.
If you place a bet at an online sportsbook any payout will be made at the odds which were in place when you made the bet. As you can see, this can be a good thing if you are good at reading the odds and interpreting the breaking news around an event.