What Is It Insurance Football Betting And How Does It Work?
Depending on the level of experience and exposure you have in the betting world, you’d probably have heard the term “insurance betting” and wondered what it means and how to go about it. However, most new punters find this to be complex and unnecessary, but that’s because they don’t know how it works and what benefits it entails. This article breaks down insurance betting and everything you need to know to better secure your stakes and profits in betting.
What Is Insurance Betting?
Sometimes you might place a bet on a game and while watching the match, you may notice that things are not going in favour of the team you’ve put your money on. Instead of watching helplessly as your bet comes apart costing you money, you may decide to place a counter bet to recoup some of the money you staked or cut your losses. Other times, you may discover important information about a football game after placing a bet. For instance, you placed a bet on the home team to score over 1.5 goals ITO 1 (1.5), only to find out that the team’s key players would be missing the match, you could make a counter stake of the same amount or less on ITU 1 (1.5), depending on the odds.
Another situation that may warrant placing an opposite or counter bet is one where everything seems to be going according to plan, then suddenly the team you backed begins to get complacent, and you observe that it may cost you your money, you can make a counter bet against the team as an in-play or live bet. However, a problem could occur as some bookmakers don’t allow you to place multiple bets on one game, not to mention placing opposite bets on the same game.
In such an instance, it’s advisable to have accounts with multiple bookmakers for flexibility and access to the best odds. This is because all bookmakers cannot block live or in-play stakes on the same game at the same time. The access to pre-match and live bet counter-bet options is what is known as insurance betting. Some bookmakers also offer what is known as a “cashout option”, which enables you to opt-out of an already placed bet even while the game is being played.
Thus, insurance betting is the process of placing opposite bets on the same game to prevent outright losses or reduce the percentage of money lost. Insurance betting offers you the advantage of being able to recoup or prevent losses and sometimes helps to make your betting experience more profitable. Every punter should make use of this strategy to better increase their chances of winning. It overrides the cashout option offered by bookmakers as these bookmakers sometimes offer lower prices on the cashout, thereby tampering with your actual returns. Now that you know what insurance betting means let’s consider how this betting strategy works as well as the situations when you can use insurance betting.
How Does Insurance Betting Work?
You can deploy insurance betting even before the event takes place. Let’s say you placed a bet on Team A to win some days or few hours to the match, only to discover that some key players have sustained injuries or will miss the match for other reasons, you can make a counter bet on Team B to win or draw (X2). If the first bet on Team A to win was at 1.8 odds and you staked ksh1,000 (1.8 x 1,000 = ksh1,800), and you find the counter bet at the same 1.8 odds, you may stake the same ksh1,000 to secure your bet in such a way that one loses and the other wins. In this scenario, you’d have staked a total of Ksh2,000 and can only make Ksh1,800 in return, cutting your losses to a 10% ratio, which is better than losing the initial Ksh1,000.
You may be wondering whether it’s possible for you to land both bets when using this strategy, the answer is yes. If you place a Ksh1,000 bet on ITO 1 (1) at 1.8 odds and make a Ksh1,000 counter bet ITU 1 (1), if the home team scores two or more goals, one of the bets will lose while another will win. However, it’s possible that the team only scores one goal, and in such instance, both bets will win, giving you a profit of Ksh1,600.
The examples above have equal odds, so what happens when the odds aren’t equal? If the initial Ksh1,000 bet was at 1.8 odds due to odds movement (in response to new information), the counter or opposite bet may be at 2.4. There’s no gainsaying that you will need to stake a sum of Ksh750. In this case, you’d have staked Ksh1,750 in total with either of the bets to bring you Ksh1,800 (Ksh50 profit).
In all of the above examples, it’s appropriate to use insurance betting to mitigate your losses and increase your earnings, depending on the situation. You’ll find that a lot of successful bettors and punters make use of insurance betting to augment and improve their winning chances. With insurance betting, you can limit losses on accumulators that occur as a result of a single game by counter betting against the last game. It should be noted that insurance betting may not work in every case, so the odds should be well considered as well as the available information before the match when contemplating the insurance betting strategy.
It’s also advisable to consult reliable football prediction sites to make informed decisions. Using a good football prediction site like ours will help you sort through multitudes of available odds and pick likely outcomes that increase your chances of winning. It’s also advisable to register with multiple bookmakers. We recommend our football predictions through a combination of mathematical analysis of data algorithms and best odds available.