Pool Betting Games Explained
When it comes to the world of online betting, there are different types of bets that you can place your money on. The vast number of sports that are available at different online casino providers like OKBet often looks unfathomable. If you are a newbie, you may feel a bit scared because there are so many things to look at and it looks complicated at times. But among these numbers, one type of betting is often ignored by most people, but it is one of the easiest types of betting available, which is pool betting.
Pool Betting, What is it?
Pool betting is a form of gambling where individuals combine their money to place bets on a particular event or series of events. The term “pool” refers to the collective funds amassed from the participants’ wagers. The participants are essentially betting against each other, and those who make correct predictions regarding the outcome(s) of the event(s) share the prize pool.
Key differences between pool betting and regular (fixed odds) betting include:
Absence of Odds: Unlike regular betting, where odds are used to calculate potential returns, pool betting doesn’t involve odds. The winnings are determined by the total amount of money in the prize pool and the number of participants who made the correct predictions.
Opponents: In regular betting, you are usually betting against the bookmaker, who sets the odds. In pool betting, you are betting against other participants who have chosen different outcomes. The collective bets of all participants create the prize pool.
Calculation of Payouts: Payouts in pool betting are based on the total prize pool and the percentage of participants who made correct predictions. If you correctly predict outcomes that a small percentage of others also predicted, you’ll share a larger portion of the prize pool. If more participants make the same predictions, the pool is divided among more winners.
Main Sports for Pool Betting:
Horse Racing: Horse racing is a popular sport for pool betting due to the unpredictable nature of horse races. Participants bet on the outcomes of different races, and since it’s challenging to predict race results accurately, fewer participants might make correct predictions, leading to larger potential payouts for winners.
Football (soccer): Football is another popular sport for pool betting. With numerous matches and multiple potential outcomes (win, lose, or draw), setting up pools for football events is common. The presence of draw outcomes in football adds complexity to predicting a series of matches, potentially resulting in larger shares of the prize pool for accurate predictions.
These are only two of the most popular pool betting sports that you can try. Other sports are also available for pool betting. Just remember to always know the ins and outs of a certain sport first, so you are still guided when making a pool bet.
Pool betting involves participants pooling their money to bet on event outcomes, and those who make accurate predictions share the prize pool. Unlike regular betting, pool betting doesn’t rely on fixed odds but rather distributes winnings based on the collective bets and the proportion of correct predictions. Horse racing and football are two main sports frequently associated with pool betting due to their unpredictable and multi-outcome natures.