Pool Betting Review

What Is Pool Betting ?

Pool-betting refers to when the stakes in a pot are shared among a number of people based on the results, who have all made the right predictions. The exception of this bet is when the pot winnings are given to a single person, which is the practice of the random sweepstake.

Pool Betting Explained

Pool Betting is widely used to describe any betting where the odds of an outcome are of little importance and the players with the right selection share the prize. The betting pool is set by players entering with a fixed stake. Then the subsequent player has to place equal bets that will later become the total prize pool when added up. The operator often gets a cut of the prize if the pool-betting is for fundraising purposes or is part of a casino or betting shop’s offering. The whole accumulated pot is the available prize in not-so-formal betting pots.

Betting pools allow players to select their most preferred outcomes since it offers many outcomes. The outcomes differ from one person being the winner (who gets the whole pot) to several people with the same selection sharing the prize. The ‘sweepstake’ is another common form of pool-betting. The sweepstake is common is social groups and office scenes. The game starts with participants paying to play and then selecting a name at random from the names available in a hat. The names represent their bet, and then when a name wins, the player gets the pot or part of it. In cases where there are many players, then a particular name can be used multiple times. This form of betting is popular in big games or competition like the Grand National horse-races, FIFA World Cup, to mention a few.

Pool-betting is offered by most major betting shops as it is lucrative for both the house and the player should they have the right combination. Pool-betting, as mentioned earlier can be adopted for a variety of competitions but what makes it incredibly intriguing is the fact that it can be made anytime.