What is an Outright Winner in Online Betting NZ?
When it comes to online casino/sports betting, most bets are placed on an individual game, match or event. With each event, multiple markets are offered, creating an even wider range of bets to choose from. In some cases, betting sites will offer outright bets or wagers on an outright winner. For anyone just starting out, this may seem confusing as any team that wins a match could be deemed the outright winner. However, this is not what is meant by an outright bet.
With online sports betting, outright bets are wagers where instead of betting on the outcome of a single game, you are betting on the outcome of the entire season or competition. Outright bets are also known as future bets and are usually interchangeable at online betting NZ sites. The first betting market to be loaded on an event is usually the outright winner.
Betting on a Tournament or Season
For example, in Tennis, the Australian Open is the first Grand Slam of the year. Before the tournament even starts, online betting sites will offer futures or outright bets on the event. This includes the outright winner of the men’s singles competition, the outright winner of the women’s singles, doubles and mixed doubles. This means placing a wager on the person who you think will win the event outright and hold the trophy after the finals.
Once the tournament is underway, the betting sites will introduce match and round betting. Outright bets can be placed on any major sporting event or season. With sports like Basketball or Baseball, it is possible to place an outright winner bet on the team that will win be crowned NBA Champions, MLB Champions and with ice hockey NHL.
Examples of Outright Bets
With American football, outright winner bets can be placed on conferences such as the Eastern Conference Champions, or on the winners of the Super Bowl. In soccer, outright bets can be placed on the Premier League, the Champions League, or the Australian A League. It is also possible to place outright bets on horse racing. This is usually reserved for the bigger races such as the Kentucky Derby or the Melbourne Cup. In this case, punters pick the winner of the main race weeks or months in advance.
Advantages of Outright Betting
As with all forms of casino games and the online betting NZ has to offer, outright betting has its advantages and disadvantages. The advantages of future or outright bets come in with the betting odds. In most cases, the betting odds offered on outright bets are far more lucrative than those offered once the tournament or event has begun.
For example, a betting site might have Novak Djokovic as the outright winner of Wimbledon at odds of 5.60 weeks before the event. If, by the time the event kicks off, both Nadal and Federer have pulled out due to injury, Djokovic’s odds will have dropped significantly as he would the most likely winner. If a fixed odds outright bet was placed in advance, a significant profit could be made.
Disadvantages of Outright Betting
The downside of outright betting is that you never really know what is going to happen in few weeks or months’ time. If the same bet was placed and Djokovic drops out before the competition even begins, the bet is lost. The same goes with horse racing. While the outright winner odds might be inviting, there is a distinct possibility that the horse you are backing will not even run come race day.
Outright winner bets are far riskier than match or tournament bets. Picking a winner would be influenced by historical statistics and predicted form for the upcoming tournament. While the risk is higher, the payoff is generally a lot bigger and many online betting NZ enthusiasts opt for this type of wagering simply for this reason.