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Insurance Betting Explained - 3 Easy Tips

| 02.08.2020
Insurance Betting Explained - 3 Easy Tips

Insurance betting is a very popular term in sports betting. It is a betting strategy that most experienced sports bettors are familiar with. It is not unusual to come across pre-match bets in sports betting. Pre-match bets have a lot of winning strategies, but what happens if, after placing your bet, you come across new information that you were not privy to before placing the bet? For instance, you might hear a late news that a key player in the team injured himself during pre-match training, and this can affect the morale of the players as well as the opposing team.

Sometimes, the issues might not become glaring until bettors start watching the match they have wagered on. Issues noticed during live matches can be threatening to the success of your bet. So what do you do in this circumstance? Do you take necessary action to reduce the losses or resign to fate? Of course, most bettors will go for the first option.

However, there are other positive scenarios, where your team plays well, scores a goal before 65 minutes, but the opposing team keeps pushing for an equalizer. In this case, you can intervene by securing your bets from the opposing team’s comeback. Your bets will be secured through the use of ‘insurance bet’.

To take full advantage of insurance betting, you must make use of a good prediction site, and https://ghanatips.com/ is the best and biggest prediction site in Ghana and on the internet. Our algorithm predictions have proven track records of accurate results. Apart from being the biggest prediction site, our football tips are integrated with all major bookmakers via API, and our algorithm produces value bets predictions for free. Instead of wasting your funds and investments on wrong predictions, why not try out prediction site today to get a taste of what consistent winnings feels like.

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Insurance Betting Rules:

1. Wager at more than one sportsbook

A secure bet is also known as an arbitrage or an arb for short. It is a bet placed on the opposite outcomes of some sporting events. Football will be used as a typical example, but this betting technique can be used for all the sports.

Examples of arbs-insurance:

Primary: Home (-1), safety: Away (+1)
Main: Home (0), safety: Away (0)
Primary: ITO (1), safety: ITU (1)
Primary ITO (1.5), safety: ITU (1.5)
Main: Home, safety: X2

The terms of some sportsbook explicitly and expressly prohibit arbs. Players who try to place similar opposite wagers on one outcome, at the same sportsbook, are either banned or not allowed to do so. That is why you must have more than one betting accounts with different bookmakers. Playing at more than one sportsbook will give you the freedom to fully use your insurance betting strategy, including arbing without any risk of getting blocked. You also get to play with the best odds.

2. Exit the game to the lowest minus or zero before the events

For example, you wagered on a match that is supposed to take place in a few days’ time. But before the start of the match (30 minutes before), information filtered in that the team’s key player will not be playing. You figured out that the team might be unable to score two goals without the key player, and your bet will be unsuccessful. You can place a counter bet by betting on the same match but with a different outcome. This way, one of the bets will be successful, and the other will lose. 

So assuming you placed a $1,000 bet on Over 1.5 of 1.90 odds and later placed a counter bet of $1,000 Under 1.5 of 1.90 odds. Your total bet amount will be $2,000. You will earn a bonus of $1,900 from this bet and lose $100 based on the 10 percent of the first wagering amount. This is referred to as a loss on the betting margin. In essence, you need to wager at bookmakers with less margins. The 10% loss is sometimes justified because it is better to lose just 10% than to lose your entire bet. Each match, however, determines its own risk assessment.

3. Exit the game in plus (+) before events

Bookmakers don’t place static odds. The odds are constantly altered. The change in odds is usually affected by certain information. For example, odds shift as a result of a change in the forecast of analysts. The movement in odds is also influenced by market activity. So, if thousands of bettors wager on one team, there will be a reduction in the odds of the other team, and it grows on the opposite outcomes. That’s why bookmakers try to balance the number of wagers placed on the first and second teams.

This change in odds makes you go plus (+) even before the start of the match, and you’ll make money irrespective of the result of the match. The odds displayed by the bookmakers vary. This difference forces them to make arbs. For example, if a sportsbook displays odds of 1.85 for the home team and odds of x2 – 2.00 for the away team, a week before the start of the match, and we place a bet of $1000 on the home team. If, due to the approach of the game, many bettors are wagering on the favorite, the bookmakers might change the home team odds to 1.69 and the other team to x2 – 2.28. We can, at this moment, place a bet of $811.5 on the x2.

This means that:

1.85 x $1000 = $1,850
2.28 x $811.5 = $1,850

Thus, we will earn a net profit of $38.5. In this case, we have successfully eliminated the margin due to the shift in odds and made a profit.

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Conclusion

Utilizing the insurance betting technique reduces your loss. However, it doesn’t mean that you must panic and arb anything to insure yourself. Insurance betting is a powerful tool that should be used wisely.

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