Have you ever considered betting on a sporting event, but felt overwhelmed by all the different kinds of odds? If so, 3/1 betting can be an excellent way to get started with sports betting. This guide will give you an overview of everything you need to know about 3/1 betting and how it works.
What is 3/1 Betting?
3/1 betting is a type of sports betting that involves two different bets placed on two separate games. It works by placing three wagers on the outcome of one game and one wager on the outcome of another game. The winnings from the first game are used to cover the losses from the second, so that if you win both games, you still make a profit.
For example, let’s say you place a $50 bet on the Los Angeles Lakers to win their game against the Oklahoma City Thunder and a separate $50 bet on the Seattle Seahawks to beat the San Francisco 49ers. If both of these teams win, then you will make a profit. But if either team loses, your losses from that game will be offset by your winnings from the other, meaning you will still come out ahead.
What Are the Odds in 3/1 Betting?
The odds in 3/1 betting are determined by the likelihood of each team to win or lose. Generally, the higher the probability that a team will win, the lower their associated odds. Conversely, the lower the probability that a team will win, the higher their associated odds.
For example, if you take two teams with equal chances of winning and place a 3/1 bet with one of them, then the odds would be 1 to 1 (or even money). However, if you take two teams where one has a much higher chance of winning than the other, the team with the greater likelihood to win will have lower odds while the team with less likelihood of winning will have higher odds.
To calculate an example, let’s say you place a 3/1 bet with the Los Angeles Lakers. If their odds of winning are 1 to 2 (or 1:2), then you will receive a payout of $200 if they win (as $100 is your initial wager and the other $100 comes from the bet on the second game). On the other hand, if they lose, you will only be out the original $100.
Pros and Cons of 3/1 Betting
3/1 betting can be a great way to reduce risk when gambling on sports. Here are some of the pros and cons of this type of betting:
- Low risk: The idea behind 3/1 betting is that your losses will be offset by any winnings from the other game, meaning you won’t take too big of a hit if you’re wrong in one.
- Higher chance at profits: With 3/1 betting, you’re increasing your chances of making a profit by having two different bets on the same game.
- More variety: With 3/1 betting, you can bet on a variety of sports and games to increase your chances of making a profit.
- Lower payouts: Since you are betting on two games, your winnings will be lower than if you bet on just one game.
- Limited options: You may only have a limited number of teams to choose from when it comes to 3/1 betting.
- Lower odds: The odds of you winning are lower than if you bet on one game, as the winnings from one game may not cover all your losses from the other.
The Rules of 3/1 Betting
The basics of 3/1 betting are simple. A bettor chooses three teams to win, and the bet pays out if all three win. If one or more of the teams lose, then the bet is lost.
To make a 3/1 bet, you must choose three fixed odds that are at least 1.5 and no higher than 6.0. The odds are then multiplied together, so if you choose three teams with a 3/1 (3.0) fixed odd each, the total multiplied bet is 27/1 (27.0).
The payouts in 3/1 betting are based on the odds of your selections. So if you pick three teams with 3/1 (3.0) odds each, the payout would be 27/1 (27.0). If all three win, then the bettor wins the full amount of their bet multiplied by 27.
How to Calculate Your Payouts in 3/1 Betting
How to Calculate Your Payouts in 3/1 Betting
Calculating your payout in 3/1 betting is easy. The total stake that you bet is multiplied by the fixed odds of each selection to calculate your potential winnings.
Here’s an example: If you bet £10 on three teams with 3/1 (3.0) fixed odds, then your total stake would be £30 and your potential winnings would be £810 (30 x 27 = 810).
Tips for 3/1 Betting Success
3/1 betting can be lucrative, but it’s important to remember that the house edge is much lower than traditional sports betting. As such, you need to be extra careful when selecting your teams and odds. Here are some tips for 3/1 betting success:
- Do your research. Make sure you understand the teams and their odds before placing a bet.
- Take advantage of promotions and special offers. Many online sportsbooks offer promotional bonuses for 3/1 betting, so take advantage of them!
- Manage your bankroll carefully. Even if you’re sure your bet will win, it’s important to keep an eye on your budget and not overspend.
3/1 betting can be a great way to make some extra money if you understand the rules and do your research. With the right strategies, you can increase your chances of success and have a lot of fun while doing it! Placing a bet at VN88 is easy and you can be sure that your winnings will be paid out quickly. So, what are you waiting for? Start betting on 3/1 today!