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Some inexperienced bettors have a misconception about betting sites and how they set their odds. Some people think the situation is the bettor versus the online bookmaker. This is not the case. Betting sites try to set their odds so that they can make a little bit of money on each betting market for each sporting event, no matter the result of the given betting market for that event. They do this by trying to balance the potential payouts on all sides for a given event. We can use a cricket match as an example:
Money will be bet on the two outcomes; the Home Win and the Away Win. Only one outcome will need to be paid out to winning bettors. The goal for the betting site is to ensure that the amount of money laid on the losing outcome can more than cover the payouts for the winning outcome. Any money left over after the winning bets have been paid will count as revenue for the betting site.
This small leftover amount is what the betting site uses to run its business, hopefully some of that will be profit, but there are many costs to running their business. In the end, know that for every event, there are winning bettors and losing bettors, betting sites just hope to make a small percentage on the overall amount bet for facilitating their service.
All the betting sites that we list offer competitive odds, but some work with lower
profit margins than others, which can yield higher odds for you more often. If you
just like to play, any of our listed sites will provide you with solid odds. However,
if you are serious about sports betting and being profitable in the long-
No one gets every bet correct, no one. In the end, the margins for being profitable at sports betting can be very tight. You will likely need to win more bets than you lose to remain profitable over time. However, as outlined above, each betting company sets their own odds in order to make money on every event, no matter what the outcome might be. When you play through just one betting site, you will have to accept what could be much lower odds compared to the best odds on the market.
As such, odds can vary significantly between online sportsbooks. On single match bets, you can see a 3% to 15% range in the potential profit on your payouts. When you compare odds for your bets of interest, you can ensure that when you win, you get the most for your stake money. Find links to help you compare odds from the most popular leagues and sports for New Zealanders below our list of top betting sites.
Combination and System betting (aka Multiples) is an area that can see a great divergence in the available odds between betting sites.
With these types of bets, odds get multiplied together. Here is an example for you: Imagine you have a combo bet with four cricket matches. You play with a good betting site, but for these 4 matches, there is another sportsbook that is offering on average a 2.5% odds premium on each of these outcomes.
When you calculate the difference in potential payouts on this small combo bet, you would be missing out on a premium of more than 10% by playing with your existing bookmaker.
The more event selections you make, the higher these premiums can be. For combination and multiples betting, the range in potential payouts between the highest and lowest paying bookmakers can be 10% to 50%. If you are interested in remaining profitable over time, it certainly makes sense to compare odds and ensure that when you win, you win the most that the market will offer to you.
Another type of bet where significant premiums can be gained by comparing odds comes with outright winner betting markets. In other words, the country that might win the FiFA World Cup, or which club might win the NRL come the end of the season.
Every team in a given competition will have odds associated with them as long as they are alive in the tournament, or still mathematically able to win the competition. As you go further down the list and the odds get higher, away from the favourites, you have a better chance for variation in the odds between bookmakers.
So if you like outright winner betting markets and you don’t really bet on the heaviest favourites, you can compare the outright winner odds and often get a premium of 10% to as much as 50%.
Don’t leave these potential payouts on the table. Compare your odds before you bet.
bet365 covers rugby & cricket comprehensively in terms of the available betting markets. They have the most intuitive interfaces for mobile & desktop and they constantly innovate with the most advanced features for bettors. Lots of banking methods are available for Kiwi bettors. Read the bet365 NewZealand review.
Betway serves over 2 million account holders world-
Unibet is headquartered in Stockholm and traded on the Nasdaq OMX Nordic exchange. Unibet provides some amazing coverage of sports betting, especially with their coverage of niche sports. If you like a breadth of sports, Unibet must be considered heavily. Read the Unibet New Zealand review.
William Hill is one of the oldest names in sports betting, established in 1934 and currently traded on the London Stock Exchange. William Hill covers all sports well, but soccer, cricket, rugby and horse racing are definitely their focus. So if these are your passions, take note. Read the William Hill New Zealand review here.
BetHard looks to offer very competitive odds on the main betting markets for the most popular leagues. BetHard is also very selective about the countries it serves, and New Zealand is one of these, so you know they cater to Kiwi preferences. Read the BetHard New Zealand review.