Customised Betting involves bettors creating a personalised multiple bet from events in the same fixture or match. Football matches generate the most custom bets. Customers can create their own bet from the following markets:
- Match result.
- Both teams to score.
- Number of goals.
- Players to score.
A customer can create a bet by selecting two or more of these markets in a multiple bet. Each incident must happen for the bet to be successful. These match incidents can be combined to create a custom bet, but the odds are not a combination of the individual odds due to related contingencies:
Related Contingencies in Customised Betting
In some cases, two or more markets can be related, as one influences the odds for another. For example, the first player to score and the match winner are closely linked. If a player scores the first goal, the team are now much shorter in the betting to win the match. These options cannot be combined in a standard bet and bookmakers deal with related markets by adjusting the odds downwards accordingly. There are some instances of unrelated contingencies, but these are rare due to the close relationships between two major incidents in a football match.
Most bookmakers only offer personalised betting on football matches, but this could change in the fullness of time. Football generates the most turnover and live betting on mobile devices is extremely popular. A customised bet can enhance the betting experience and provide betting interest throughout a complete football match. The following sports have the greatest potential for Customised Betting:
Football generates the most turnover across all types of betting. This is certainly the case with Customised Betting betting and some bookmakers only allow it on football matches. Bettors select their own options and ask the bookmaker to quote a piece. The offer can be accepted or rejected, or in some cases, the bookmaker may offer the same odds but for a smaller stake. Customised Betting allows bettors to hand pick outcomes to create a personalised bet.
Tennis is another sport that is suited to Customised Betting. A customer could combine the match winner, current set winner and the number of games and sets. Clearly, some of these outcomes will influence the result of others. The winner of the first set will shorten in the match betting and the opponents’ odds will drift. Customers can shop around to find a bookmaker that offers customised bets on different markets in tennis betting.
The most popular cricket bet is a win single on the winner of a match. Some outcomes are related but can still be brought together in a customised bet. The match winner is related to the number of runs scored or wickets taken by a named player. Customised odds are adjusted downwards when some of the incidents influence the likelihood of others happening. Cricket can be a good sport for custom bets.
Cash Out of a Customised Bet
Customised bets generally cannot be cashed out because of the relationships between some of the incidents. It is difficult to calculate the true odds of certain events happening in a football match during the match. All custom bets are settled at the suggested odds after the bets are requested. The odds are usually in favour of the bookmaker, but the customer pays that for control of multiple bets.
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