Multi-Sport Betting: Diversifying Your Wagering Portfolio

Have you ever heard of multi-sport betting? Multi is just short for “multiple bets,” and it’s when you combine more than one sports betting event. It’s a great way to earn huge while wagering smell stakes. 

Multi-sport betting is not limited to horse racing and football matches. You can choose from various sports events and wager on them if you understand how the sport works and its rules. This freedom of choice gives you the power to diversify your betting portfolio and potentially increase your winnings. 

How Can I Place a Multi Bet?

Wagering a multi-bet is relatively straightforward! The following are steps on what you should do:

  1. Check if betting and gambling are legal in your state or country.
  2. Register yourself in a registered and reputable online sportsbook.
  3. Visit the “Sport” section at your chosen online betting site and find the sporting event you want to wager on. For example, you might start with New Zealand soccer betting and then add a golfing event in France next.
  4. Choose the betting option and then add it to your bet slip. 
  5. Then, visit another sporting event on the website, find the betting option, and click on it to add to your slip.
  6. Once two sporting events are in a bet slip, a “Multi/Parlay Options” section or something similar would appear at the bottom. 
  7. Determine how many sporting events or teams you’d like to wager on, then add it to your bet slip.
  8. Once you’ve added all of your predictions, input the amount of bet you’d like to bet in the “Stake” box. 
  9. Then, the sportsbook’s slip will tell you how much the potential return for the multi-bet if it’s successful.
  10. Once you’ve rechecked everything and are happy, click confirm the bet.

Some sportsbooks would differ in the same bet, but typically, it would be all the same. This is just the general way of wagering a multi-bet. So, as you can see, the sportsbook would tell you the potential return before you even wager your money.

Example of Multi-Sport Betting

Let’s say that you think Team 1 would dominate Team 2, and they are priced at 2.30. Furthermore, you think that Team 3 would beat Team 4, with a price of 1.39, and so on, until you reach the amount of sports or teams that you’d like. For the sake of this scenario, let’s say you’d like to wager on four teams or sports.

For example, you have $40 to play with, so you’ll divide this into five and then place individual bets on the five matches, which would be $10 each. To get the estimated amount on how much you would win, you would have to determine the price for each team and add it all together. 

Alternatively, if you’d like to wager a multi-bet, which entails combining all four teams in a $40 bet, you would win up to hundreds, more significant than a single bet to different teams, further illustrating the advantages of a multi-sport bet. 

As mentioned earlier, if just one team loses in a multi-bet, the tie bet will crumble. 

Benefits of Betting on Multiple Sports

One of the most significant advantages of multiple sports betting is that it can increase your odds on the short-priced favourites in most sportsbooks. Combining sporting events on different days and months increases the overall payout of your placed bet. 

In line with this, the payouts you can get from doing this are higher than the typical single bets. Of course, this is only reserved when you win your wager. That’s why, when you choose what sport you’ll wager on, you should be knowledgeable about them.

For example, if you’re only familiar with golf and soccer but not so much with horse racing or wrestling, it’s better to stick with your knowledge. But of course, this doesn’t mean you should remain stagnant; when you have the time, you should study the different sports you’re interested in. 

Furthermore, since the returns are immense, bettors can reduce the amount they wager to realise the exact profit. 

Disadvantages of Betting on Multiple Sports

Even though you can get a significant payout with a small investment, there also comes an increased risk and frequency of losses. This type of bet requires winning every leg you waged to get paid. For example, if you’ve wagered in three sporting events, and only there’s one event where your bet didn’t pan out, the entire multi is wiped out, and you won’t get your winnings. 

Due to the high risk, losses are frequent, and bettors won’t win as much, unlike regular bets. While there’s a high reward, there’s a high loss, which can be challenging for some bettors to handle emotionally and financially if they wagered big. But of course, when they win, they will win big.

Final Thoughts

Wagering on multiple sports is an excellent move to get many chances to hit high odds, and many bettors agree with this and try to take advantage of this opportunity. But of course, with every bet, you would have to be careful since this type of bet is notoriously difficult to succeed at.