The communal handicapping of parimutuel betting tends to yield the same results as professional bookmakers calculate. Interestingly, projected winnings end up being essentially the same for both types of bet. The prize for pool bets, however, changes as long as the bets keep flowing in.
There are some Bitcoin sports betting operators that specialize in this type of betting.įixed odds stay true to their name and guarantee fixed winnings from the moment you place your bet until the event has begun and the bets are off. All bets are pooled together and the winnings get paid out in proportion to your stake. In this case, the amount your bet will win relates directly to the amount of money other people bet on the same event. “Parimutuel” or “pool” betting works differently. Most BTC betting sites employ this method. The smaller the odds multiplier, the smaller the potential win is. The odds then determine how much your bet will win, no matter what other people do. The first is called “fixed odds.” Professional bookies and handicappers, usually working from a 250-foot skyscraper in Vegas, determine the probability of an outcome and set the odds accordingly. There are two main ways to determine how much money a bet will pay out.
