Outright Betting Meaning – What It Is and How Best To Use It
If you are a fan of a longer-term betting strategy, then you may end up falling in love with the idea of outright betting. This is because when you are placing an outright bet, you are betting on something that is going to happen well into the future. Let's explain what we mean, shall we?
What Are Outrights in Betting?
The type of betting that people are most familiar with will be bets that you place on a single match. This can include moneylines, points betting, props, etc. This is great and all, but they do not offer the greatest of returns. This is because most matches are fairly predictable, and there will normally be a favorite that will probably take the prize at the end of things.
Outrights will have you bet on the longer term. For example, with an outright bet, you would bet on who may win a tournament, league, or a cup. The following would be outright bets:
- Betting on the team you believe would win the World Cup
- Betting on the teams you believe will be in the Super Bowl.
- Betting on who wins the NBA Playoffs
- Betting on who scores the most points over the course of the season.
We are sure that you get the picture.
These bets tend to pay much, much better than your typical per-game bet. While there may be favorites for the outcome you have selected, anything could happen over multiple games, which means that there may be no clear favorite. This means that the odds tend to be much better across the board. We will talk more about the pros and cons in a short while, though.
What Is Outright Betting in Betting – When Is It The Best Time To Use It?
Now you know what outright betting means. When is the best time to use it? Well, one thing that we didn't mention about outright betting is that an outright bet can be placed at any time. While it is generally used at the start of a season or a tournament, it doesn't have to be. You can use this bet at any time, but your risk will go up, depending on when it is used.
Before The Season or Right At The Start
This is the most common time to place an outright bet on any sport. Although, it isn't always going to be a great idea.
Yes. There will be a clear favorite at the start of a season or a tournament. However, it is at this point of the season that everything is going to be a bit more unpredictable. Anything could happen over the next few games. The favorite may not get the dream start they anticipated. Teams that didn't look like they would do well end up doing well. Injuries happen, etc.
If you are looking for high-potential returns, then betting now is going to be the best choice. However, we wouldn't suggest gambling a ton of cash on one of these bets, especially if you are gambling on a team or player that isn't anywhere near the favorites. The potential high returns from a smaller bet is good enough to keep a smaller bet there.
If you have heard of people winning larger amounts of cash betting on sports, then it is likely an outright they have placed, and they have done it right at the start of the season.
Mid-Season or Mid-Tournament
In our opinion, this is one of the best times to place an outright, even if the odds are not going to be great.
At the mid-point, how everything may potentially end is starting to pan out. Nothing will be set in stone. There will still be a little bit of risk there, but the risk is starting to become less and less.
It is at this point in the season that you may want to start considering gambling larger sums of cash. This is assuming that you do your research and have a rough idea of how things may end up. Although, do bear in mind that you are still gambling. There is going to be some sort of risk here.
Near the End
We tend to avoid placing outright when you start getting into the final games of the season.
This is where it is pretty obvious what is likely to happen. This means that the betting odds are going to be ridiculously short. In many cases, certain teams and players will be out of the running (even if not mathematically) and are thus not worth a bet.
You are never going to be winning massive amounts of cash at this stage of the season. At this point, you may as well just be aiming for the moneylines on individual events. You will probably make more money that way, and you very rarely make money on moneylines.
Pros and Cons of Outright Betting
Let's go through the pros and cons. Hopefully, this will give you more information as to whether an outright bet is a great choice for.
The Pros of Outright Betting
There is the potential to win big with outright betting, but it is going to be dependent on when you bet. If you bet close to the outcome of the event being decided, then it is just a pointless bet. However, some seriously big wins have come from outright betting and, if you make the right choice (and get lucky), the same could happen to you.
Outright betting is also fun, even if you don't win. It gives every game in a competition a bit more weight, even if you are not betting on them directly. A lot of people place outright bets just because it is fun to have something riding on every single game, even if you don't have actual cash on it.
A lot of people also see outright betting as a puzzle. It is an area where analysts can really shine because they can make predictions.
The Cons of Outright Betting
These are risky bets, although they do get less risky as time goes on. One of the more complicated things with an outright bet is deciding when the right time to ‘strike' is. Get this wrong, and you won't make as much money.
These bets also take a long time to pay out too. If you place a bet, you could be waiting almost a year before you learn whether you have won or not. Some people just don't want to wait that length of time to know whether they are a winner. It certainly isn't a popular bet among regular sports gamblers for that reason.
What Is An Outright Bet – Conclusion
An outright bet is sometimes known as a futures bet. With an outright, you are betting on the predicted winner of a tournament or other competition. Outrights are generally placed at the start of a season, but they can be placed at any time before the outcome is decided. Use this type of bet if you want the potential to score some big wins, but we probably wouldn't recommend gambling large sums of cash on it.