Betting on running is similar to betting on other kinds of sports. You can choose a land-based or an online bookmaker. For this article, we will focus on online betting, but basics are the same in both cases.
First, you will need to choose a reliable online bookmaker. Do your research and read user reviews before making a deposit. Pick a trusted place with a licence.
Opening an account is a simple procedure: you will be asked to provide details such as your name, address and betting currency. You will also need to select a payment method: an e-wallet, a credit or debit card or a bank account.
The next step is to deposit a certain amount of money to your online betting account. Before doing that check the terms and conditions of your chosen bookmaker. They may offer some exciting promotions!
Once the prep work is done, you are ready to bet on running. Find a menu with betting options on the main page. You will probably find it under “athletics”.
First, you will get to choose the event you want to bet on. All the main events are usually listed. Then you chose the betting market.
Outright betting market is the most common type when betting on any kind of race. It means that you bet on the outcome of the competition. For example, in the case of marathon, you bet on who will be the winner in Men’s Race and in Women’s Race. You can place several bets at the same time, but then you need to predict correctly all the results in order to win.
You can also select Each-way bet (EW), meaning that you can win some money even if your pick finishes second or third. Conditions for EW vary depending on the bookmaker, so you will want to read the terms carefully before risking your money.
Then you need to choose who to bet on. Here you will find plenty of tips from experts. This is where you get to be creative and try to predict the outcome.
Finally, you wait for the result. If you successfully predicted the outcome, you win money according to the betting odds. They also vary depending on the bookmaker and that is why it is important to choose carefully, since some bookmakers offer better odds than others.
Odds are expressed in decimal numbers or in fractions. For example, if I want to place 5$ on Mo Farah, and his odds are 10.0, I will get 50$ (my bet multiplied by 10). If odds are expressed in fractions, divide them to get the decimals. Most bookmakers will give you an immediate calculation on how much money you can win for a particular bet.
Odds can also help you pick a favourite. As a rule of thumb, the bigger the decimal number, less likely the outcome is. You can choose either safe bets with relatively low winnings or more risky bets with the chance of winning big.
Finally, always remember to bet responsibly!