Learn How to Explore Pool Betting in Online Sport Betting

Pool betting is a type of gamble that involves the group more than the individual. They are games whereby individuals combine their stakes in a single pot referred to as a pool. This style of betting is unique because the game is open to any number of participants and the winnings are shared between successful players.

Factors necessary for proper pool betting

To be informed before participating in a pool bet, there are 3 important factors necessary

• Making a good number of accurate predictions: the basis of pool betting is making smart decisions in selecting winners for certain games. Therefore, the importance of making accurate predictions cannot be over-emphasized but what also needs to be discussed is the need to make a generous amount of predictions. This is because the more bets, the greater chances of winning more money.
• The total size of winnings: Remember this is based on pool betting, so the total size of winnings is referred to as a pool. The pool size is important because the larger it is, the greater the winnings would be because with pool betting, everything won will be shared at the end of the day.
• The number of people that participated in the bet: why this is an important factor in the overall scheme of things is the simple fact that winnings are divided among all successful participants. There is an inverse relationship between the number of participants and winnings received. If the total number of participants is reduced, the corresponding winnings would be increased. So most pool betters look out for pools with fewer participants because it pays better in the end.

Difference between pool bets and fixed bets

Pool bets are simply a collection of individual players’ contributions later divided equally by the winners of the gamble while fixed bets are individuals placing stakes on odds with the hopes of winning big. The major difference between the two is in how the winnings at the end are calculated. Pool bets are played with other participants in the mind, because players know the worse the others play, the better their chances are of winning, while fixed bets are between the player and the bookie, with whatever odds that have been set at the start of the game.

Risks associated with pool betting

• Human element and participation

Pool betting is a relatively simple betting system with fewer risks than traditional fixed bets. One of such risks is not knowing. Players who place money in a pool bet are not aware of how much they might end up with at the close of the bet. Because it depends majorly on the participants in the pool, players might leave the game with less money than they put in if many people join in that particular bet and come out successful. Or like normal bets, players might lose out on the whole pool if they predict inaccurately.

• No fixed odds

Unlike fixed bets, pool bets do not have odds. The operator of the game simply creates the pools and leaves them open to the public for participation. Because there are no odds, players have no way of estimating potential wins or significance dividends of wins. So players are left wondering what the outcome of the pool would be and what percentage of their initial wager they would eventually be left with.

Advantages and Disadvantages of pool betting

Every game played has its pros and cons. It’s only fair that both advantages and disadvantages of pool betting are discussed

Advantages of pool betting

• Probability of increased winnings with a small initial wager

A player can come out of a pool better with more than he went in with. If participating bettors all place equal amounts in the betting pool and in the end made inaccurate predictions, all the money in the pool goes to one with the accurate bet. Imagine not having to share your proceeds, you have successfully made a profit of more than 50%. This is a very attractive feature of pool betting because it means with a small capital, you can end up with a relatively large payout.

• Equal opportunity

All bettors contribute to the pool and all stand an equal opportunity of benefitting from it. No one is favored over another. It all depends on the individuals’ ability to make accurate and well-informed predictions. There are no odds or bookkeepers to contend with. Bettors just require insight into the sport they are betting on so they know they are making the right choice.

• High bar for total winnings

There is no benchmark for how much the total pool can be. This means there’s no limit to your winnings at the end of the day. So players just focus on making accurate bets in games with fewer participants and relatively high stakes and they end up winning big.

Disadvantages of pool betting

• The more participants, the less the dividend

If the participants on a particular pool bet are numerous and they are all successful in the end, the amount of money shared ämongstthe winners would be greatly reduced. Players might even end up with less than what they initially started with. A problem that comes with pool betting being open to the public and its price being set by the players.

• Total winnings are determined by players stakes

As the final prize winnings depend on the initial stakes of the participants, the pool might not end up with an attractive sum. This happens if the participants are few and the stakes are below average.

• Lack of odds

Pool betting is very different from fixed bets because they lack odds. Because of this, players have no idea how much they could potentially win and cannot calculate towards it. This is unfavorable because players are left in the dark at how much they will be leaving with till the end of the pool.

Typical example of pool betting

Supertoto

As a lover of the unconventional betting scene, you would be on the lookout for the next new thing that is a bit different from the rest. Without looking far, you find Supertoto. Supertoto is an online pool betting game where players earn money by predicting the outcomes of a select set of matches. The prediction could be whether there would be a win, a draw, or a loss.

How is Supertoto different?

In addition to the regular online betting casinos, there is the offer of the aforementioned pool betting. Pool betting works in such a way that players bet on certain games, the stakes of which are not as high. The catch with pool betting is that there are central winnings on the winning bet and all players that placed that particular bet has a share of the money.

This simply means the money to be won after a successful bet is placed in a single pool and the entirety is to be shared amongst the winners.