Sports betting is a great way to make extra money while having fun. Fortunately for enthusiasts, cycling is one of the many sports people can bet on. In fact, there are plenty of promotions you can take advantage of, for example this Ladbrokes promo code.
Before you start betting on cycling races, you need to know a few things about how it works. We will lay out the basics of cycling betting to help you get started.
Types of bets
There are 3 main types of bets available for this sport. The easiest one is the straight bet in which you are betting on the participant who wins the race. Let’s say you can bet on Levi to win Tour de France. If he actually wins, you win the bet. If he doesn’t, you lose your wager.
Another simple bet is the so called prop bet that’s short for proposition. You wager on a specific outcome other than the winner. For example, the number of stages won by a certain cycler or the fact that 3 riders will test positive for banned substances. This bet is rather interesting and untraditional thus making its outcome unpredictable.
The third type of bets is a parlay. This is the name for a bet that combines multiple single wagers. In order to win a parlay, you have to win all the individual bets. It’s enough to get one wrong and you lose all the others that you got right. This bet is the riskiest because the odds are not exactly in your favour.
The more bets you combine in a parlay, the lower the probability that you will get all of them right. Still, if you do win, you get a lot of money. A parlay is more of an “all or nothing” kind of bet and it’s certainly not for the average bettor with no experience or knowledge about the cyclers who compete in that particular race.
Only bet the amount you can live without. This is the most important piece of advice we can give to any gambler, be it a sports bettor or a poker player. Learn to recognize the bets worth taking and the ones you are better off without. You will often find low bets that are almost a sure thing but you have to wonder: is it worth my time? Besides, where’s the fun in a sure fire bet? Your money is better put in a higher value bet even though it’s riskier.
Always look for the best possible odds. Bookmakers make their own odds, meaning not all online sports betting websites are the same. Shopping around before placing a bet is the smart way to do it, especially now that it’s so easy to take a look at online odds. A simple click will tell you what you want to find out. Here’s an example: betting on Valverde winning Tour de France at +120 is better than betting on him at +110. This means that for every $100 you bet, you will get either $120 or $110 and it’s obvious which is the better option.
Don’t overlook variables like the weather or the injuries of a participant. Taking the Tour de France example again, a lot can happen during 21 days. Participants can drop out, can injure themselves or can perform incredibly better than the big names of the industry.
Analyse past winners but don’t forget to read specialists’ commentaries on who are this year’s favourites. Even though a few names keep coming up constantly when it comes to winners, every once in a while a cycler nobody has ever heard off takes the 1st place.