Bookmakers offer various betting options both on current events and on entire tournaments or championships and their results. Those who like the second type of bet should be familiar with the term outright – these are long-term bets on the outcome of a tournament. Mightytips experts figured out how profitable are bets on the entire tournament as a whole or on the champion of the competition.
Features of outright bets
Outright bets are ideal for bettors who know how to make predictions several steps ahead. Bettor must calculate in advance how this or that event (not necessarily sports) will end, and make the correct prediction. Sometimes you have to wait several months or even years.
Bookmakers are constantly expanding the opportunities for players. Today, you can bet not only on the winner of this or that competition, but also on reaching the semifinals, finals or other events of the tournament.
In fact, outright bettors lure inexperienced bettors with crazy odds that can go up to 100.0. But betting professionals don’t really like long-term betting. There are at least two reasons for this:
- It will take a very long time to wait for the result. Your money “hangs” for several months or even years.
- It is incredibly difficult to predict the outcome of any tournament before its start, especially when it comes to individual events (tennis, Formula 1). Sport is full of surprises, anything can happen, and if the fate of a bet depends on one person, then the probability of its “burnout” increases.
- Limited markets. You can always bet on the winner of the Football Champions League or Europa League, the winner of the Stanley Hockey Cup or the NBA triumphant. On the other hand, it is difficult to find bets on the results of the world bandy championship or on which places will be taken by the teams in the European curling championship.
On the other hand, bookmakers are people too, so it is not easy for them to predict the outcome of the tournament, which will end in a few months. Therefore, when drawing up a line for long-term events, bookmakers are often mistaken. You can recall at least the bets on the top scorer of the 2018 FIFA World Cup. The odds for the Englishman Harry Kane were about 16.0, but already in two group stage matches he scored 5 goals and largely predetermined the fate of the scorer’s race. As a result, Kane won it, scoring 6 goals.
In addition, not all bookmakers take into account possible transfers and force majeure. When it comes to team sports, the transfer of 1-2 strong players to another team can significantly change its chances of success.
Also, the bettor has a chance to profitably sell the bet, even if it has not played yet, but this is a double-edged sword. The most telling example is Leicester’s 2016/17 Premier League title. The odds for the Fox title before the start of the season reached 5001. Those bettors who dared to bet on this market, for the most part, could not stand it and took a smaller win during the season. Yes, the profit at the end of the season would have been much higher, but in the middle of the championship, selling the bet seemed like a great way out. With 20-30 pounds bet people got tens of thousands of winnings.
Where else are outrights besides sports?
This is not to say that long-term rates are considered a tool for making a profit. Many bookmakers resort to long-term betting as a way of their own satisfaction.
By the way, you can make long-term bets not only on sports events. Today bookmakers offer outrights for a variety of events. Some of them are quite common:
- the results of political elections and referendums;
- results of musical, cinematographic and literary contests and prizes (Eurovision, Oscar, etc.);
- weather on a specific day;
- winners of the Nobel Prize;
- bets on the winners of TV shows, beauty contests.
This is by no means a complete list, however, there are interesting and completely incredible rates and offers in the bookmaker:
- UFO arrival;
- end of the world;
- landing of a man on Mars before a certain date;
- there is an option to bet that “Ozzy Osbourne will bite off the bat’s head again to stop the coronavirus;
- You can also try to guess who Prince Harry Duke of Sussex will work for, whether the identity of the underground artist Banksy will be revealed until 2025, which of the Russian pop stars will be the first to give birth to a child (Nastya Kamenskikh or Nadya Dorofeeva), and much more.
Each bettor must decide for himself how interesting and, most importantly, profitable are outright bets. Pros rarely resort to these types of bets, but with the ability to make long-term predictions, you can hit a great jackpot by betting on the winner or other outcome of a tournament with a high odds.