Over the last decade, online sports gaming has taken over the sports fanatics like a storm. No longer do people consider sports betting to be a taboo and are indulging in it with open minds. Online sports betting sites receive massive traffic on a daily basis, so, it’s clear that this new industry is a big one.
Now, a newbie or even an experienced gamer might have plenty of doubts. And one of the most prominent among these is the confusion over losing money on a winning bet. We hate to break it to you but a winning bet does not mean you won’t be losing money.
Let’s elaborate further on this. There are several cases wherein you will be losing money on a winning bet. This blog will discuss the same.
Given below are the scenarios that can lose you money even if you have a winning bet:
These include the lucky 15s, Yankees, Lucky 31s, and so on. With Yankees, as you know that there isn’t a single bet, so you won’t be winning anything in case only one of your bets wins. Even if you have 2 winners, still you will lose some portion of the stake placed originally. Lucky 15s also work in an almost similar fashion.
Placing stakes on each-way bets is like placing 2 bets because the first one is for winning and the second one is for placing. So, if your selection ends up winning, then you’ll be winning both the bets otherwise, you’ll win the place bet only.
Hence, this too can lose you money as per the settlement according to the each-way betting terms or that of a bookie.
Suppose, in a horse race, two horses end up winning a race via dead heating and you had placed a bet on any of these horses. Then, you’ll only receive half of the money that you otherwise would have if your horse had won. So, if you had placed an odds-on bet and it resulted in a dead heat, then, even winning would lose you money. Also, keep in mind that dead heats can happen even if you have more than two selections and that further divides your winnings.
Rule 4 in horse racing could be a bit problematic because it will harm your winnings. Originally, it is meant to protect the bookies from the harm imposed by non-runners. So, you wouldn’t be receiving a settlement when you chose the odds if the even-money favourite is chosen. In such a scenario, you will receive half of what you expected.
The deductions due to Rule 4 could be much less than this as per the combined odds or odds of the non-runner. However, if you are in a situation where Rule 4 gets combined with a Dead Heat, then you will lose even more than that.
We have listed down and tried to explain all the situations that can have you losing money on a winning bet. Multiple bets are a major example of this scenario but each-way bets can also lose you money despite winning. Also, dead-heat rules and the rule-4 deductions can convert your victory bet into a loss.