Can someone help me out? First timer...

[plowking]

I've never used online betting before, though it seems a hell of a lot more convenient than going to the TAB, etc.

These questions may seem silly and what not, but better safe than sorry I guess.

I was thinking of opening an account on Betchoice. Those who use it, is it safe, and reliable?

I noticed that they don't ask for your account details on signup, how do you recieve your money from bets, etc?

And probably the silliest of all the questions, is it possible to bet money you don't have in your account, etc? Or do you transfer money from your bank to the account (say $20) and that is all you can use until you top up again?

Also, is this the case at sportingbet.com.au?

 

[DT_35]

I've never used online betting before, though it seems a hell of a lot more convenient than going to the TAB, etc.

These questions may seem silly and what not, but better safe than sorry I guess.

I was thinking of opening an account on Betchoice. Those who use it, is it safe, and reliable?

I noticed that they don't ask for your account details on signup, how do you recieve your money from bets, etc?

And probably the silliest of all the questions, is it possible to bet money you don't have in your account, etc? Or do you transfer money from your bank to the account (say $20) and that is all you can use until you top up again?

Also, is this the case at sportingbet.com.au?

Personally, I don't like BetChoice. I have a Sportingbet account and it's much better, more things to bet on etc.

And yes, you can only spend money once you transfer it from Bank to Account.

Hope this helps

 

[plowking]

Thanks, that was one of my main concerns.

Also for those using betchoice, what do you need to do to verify your details online? Just asking since posting documents to them seems like a hassle.
Does sportingbet also ask for such things or not?

 

[DT_35]

Yeh, you need to vertify your Identification. You can either do it online, or go to the post office and fill out some forms.

With Online, there's a few different options. These include Passport, Drivers License, Phone Number (they check White Pages if listed), and a few others ones, can't remember of the top of my head, but you only need to confirm 3 of them to be verified.

 

[adii_7]

betchoice is a scam i rekn..

betfairs the best in my opinion, but not good for multi's

multi's are a bad story in the long run anyway.

sportingbet/centrebet/betfair..

i've got all 3 if you need codes referals, etc just shoot me a pm

 

[Sasquatch]

Multi's are a punters worst nightmare. Sure you may pluck out an insane multi one time or another but you lose way more than you win overtime. Do the maths after a few years of doing mutli's and you'll find out.

If you put a $10 multi on say 100 times a year, that's 1000 bucks. If you win two of them at say, 10-20 bucks, you're down. If you want to be successful at this caper, which is a hard thing to accomplish, because no matter how good you are, everyone goes down, forget about multi's.

Anyway, in regards to online, don't use betchoice.

Sportingbet.com.au and/or Centrebet.com are the way to go.

 

[plowking]

Thanks guys. So the procedure is the same everywhere basically?

Put in a certain amount into your site account, and that's all you can use?

 

[adii_7]

a: pretty much. betfair is better odds, no multi's.

b: pretty much. unless your fevola

 

[happy_punter]

question

when i open a bank account do i have to put my own money in it?

 

[Barnzy]

I didn't want to start a new thread so I thought I would just bump this one.

I've got a question and I'm sure it has a very simple answer which will make me look stupid but since I'm new to online betting I have no idea what it is.

I put money into my Sportingbet account, verfied, etc and placed a few bets. For example:

$5 on Spain vs Horandus game - Total game score: under 2.5 goals @ $2.20. I won it and it states on the transcation that the Payout win is $11. It gives me $6 worth of winnings. Now I assume this is some sort of commission but that seems like a hell of a lot? Taking $5 from a $11 win?

Sames goes for most of my other bets.

$5 on Chille win vs Switzerland @ 2.15. Payout win $10.75 yet gives me only $5.75 worth of winnings?

Also there's a few other AFL bets that are similar but you get the point. I can't explain it? Can anyone help me? Thanks.

 

[McCrann]

I didn't want to start a new thread so I thought I would just bump this one.

I've got a question and I'm sure it has a very simple answer which will make me look stupid but since I'm new to online betting I have no idea what it is.

I put money into my Sportingbet account, verfied, etc and placed a few bets. For example:

$5 on Spain vs Horandus game - Total game score: under 2.5 goals @ $2.20. I won it and it states on the transcation that the Payout win is $11. It gives me $6 worth of winnings. Now I assume this is some sort of commission but that seems like a hell of a lot? Taking $5 from a $11 win?

Sames goes for most of my other bets.

$5 on Chille win vs Switzerland @ 2.15. Payout win $10.75 yet gives me only $5.75 worth of winnings?

Also there's a few other AFL bets that are similar but you get the point. I can't explain it? Can anyone help me? Thanks.

Sounds perfectly alright to me.

When a price is quoted as $2 - in the "old" terminology that is even money.

To find out your returns multiply your stake x odds (In $$).

Your bet, $5 on Chile win @ $2.15 = 5x2.15=$10.75.

If a price quoted at you is $1.01 for instance it means that for every $1 you stake on a succesful bet you'll make $0.01. I don't know what price Federer was last night, but I'm guessing pre-match he would have been close to $1.01 - and I'm sure there were a few punters out there having heart attacks in the 3rd Set!

It is that simple - included in the price is your original stake (Always $1). To find the profit simply multiply your stake against the price (-$1).

So in your case for Chile win.

$5 x (2.15-1) = $5 x 1.15 = $5.75 (Profit).

Which by the way - is a pretty good return. If you can string 6 or 7 bets in a row at odds of $2 you'll be a very happy chappy.

The main point about using decimal odds is it allows easy calculation when multiplying bets together for multis - and allows these sorts of bets to be much more easily understood and worked out compared to if you have to multiply in your head something like (13/8 x 6/4 x 3/2 x 6/5) - what kind of odds are they? Too hard.

 

[KardiniaPark]

question

when i open a bank account do i have to put my own money in it?

Yes, and when your wife opens a bank account you have to put your money in there also

 

[Barnzy]

Sounds perfectly alright to me.

When a price is quoted as $2 - in the "old" terminology that is even money.

To find out your returns multiply your stake x odds (In $$).

Your bet, $5 on Chile win @ $2.15 = 5x2.15=$10.75.

If a price quoted at you is $1.01 for instance it means that for every $1 you stake on a succesful bet you'll make $0.01. I don't know what price Federer was last night, but I'm guessing pre-match he would have been close to $1.01 - and I'm sure there were a few punters out there having heart attacks in the 3rd Set!

It is that simple - included in the price is your original stake (Always $1). To find the profit simply multiply your stake against the price (-$1).

So in your case for Chile win.

$5 x (2.15-1) = $5 x 1.15 = $5.75 (Profit).

Which by the way - is a pretty good return. If you can string 6 or 7 bets in a row at odds of $2 you'll be a very happy chappy.

The main point about using decimal odds is it allows easy calculation when multiplying bets together for multis - and allows these sorts of bets to be much more easily understood and worked out compared to if you have to multiply in your head something like (13/8 x 6/4 x 3/2 x 6/5) - what kind of odds are they? Too hard.

Cheers. Helped a lot.