Sports bet

A sports bet is a contract between you and a bookmaker. You predict the outcome of a sporting event and put down a stake for it. If you tip right, you get paid out stake times odds. If you are wrong, the bookmaker keeps the stake. You can bet on almost any sport, for example football, tennis, basketball or ice hockey.

The process is always the same and consists of a few steps. First, you choose an event, for example a Bundesliga football match. Then you decide on a market and an outcome, such as home win, draw or away win. For each outcome there is a set of odds. They show how much you get per euro staked if successful, and at the same time reflect the estimated probability from the bookmaker's view.

Finally, you set your stake and place the bet. From that moment on, the tip is binding and can only be changed within the provider's rules. You can place a sports bet online via a website or app, or at the betting shop on site. Both routes lead to the same contract with the bookmaker.

The guide How a betting shop works explains the wider context.

A simple example makes the principle clear. You tip the home win and stake 10 euros. The size of your possible payout depends solely on the odds. The table shows what comes out at a few different odds.

The payout is always stake times odds. The net winnings are the payout minus the stake. The higher the odds, the more a winner brings, but the less likely the outcome is considered from the bookmaker's view. If the tip doesn't come in, the stake of 10 euros is forfeited in full.

Sports bets can be placed in many ways. The choice ranges from simple single tips to combined slips with many matches. Each bet type has its own balance of chance and risk.

• Single bet: a single tip on one event, clear and easy to understand.
• Accumulator: several tips on one slip, all have to be right, the odds are multiplied.
• System bet: several tips, where even part of the selection is enough for a payout.
• Live bet: a tip while the match is in progress, with odds that change continuously.
• Handicap bet: a team starts mathematically with a head start or deficit.
• Over/under bet: a tip on the total number of goals or points, regardless of the winner.

For beginners, the single bet is best suited, because only one outcome has to be right. Accumulators lure with higher odds, but are riskier, since a single wrong tip makes the whole slip lose.

Besides the bet type, you can also choose between many markets. A market is the specific question about a match, for example the winner, the number of goals or whether both teams score. For a single match, there are often dozens of markets to choose from. That way you find the tip that fits your assessment.

A sports bet makes a match more exciting, but also carries risks. It's important to know both sides before you stake money. The following overview compares them.

A sports bet is a form of entertainment with risk. It is no way to earn money reliably. Across many bets, the bookmaker has an advantage through the margin.

In Germany, sports betting is permitted from the age of 18 (21 in Bremen). Providers need a licence under the Interstate Treaty on Gambling, which is granted by the Joint Gambling Authority of the Federal States, GGL for short. This authority also keeps a whitelist of all licensed providers. Sports bets also carry a betting tax of 5 percent. At Tipico it is not included in the odds but calculated separately.

At the betting shop on site, you place your tip at the counter or at the self-service terminal. You receive a betting receipt as proof and can usually have winnings paid out there in cash. Keep the receipt safe, because without it a payout is often difficult. Always make sure to bet only with licensed providers, online as well as on site.

Whether online or at the betting shop, the legal framework is the same. You have to register once and prove your age. Only after that can you bet. This obligation serves youth and player protection and applies with every licensed provider.

A set of odds is an assessment and not a guarantee. Even a clear favourite can lose, because in sport daily form, injuries or chance decide. So understand a sports bet as entertainment and not as a source of income.

Only stake money whose loss you can cope with, and set yourself a fixed budget in advance. Use your provider's protection functions such as deposit limits, stake limits or self-exclusion. If betting becomes a burden, get help. Gambling is only permitted from the age of 18 (21 in Bremen) and can be addictive.

A simple rule helps in everyday life. Decide before betting how much money the entertainment is worth to you. Treat this amount like the money for a trip to the cinema. Once it is used up, that's it. That way the sports bet remains a leisure pleasure and not a financial risk.