What is a Back Bet?
A back bet is a bet in which money is wagered on a specific result – often a horse winning a race or a team winning a football match. Betting terminology can sometimes seem slightly daunting, particularly to those without much experience. Faced with terms such as combination bet, ante post and dutching, someone new to gambling might come to the conclusion that it’s too complicated to get to grips with. Perhaps the best advice in this case is to start with possibly the simplest type of bet of all, which is a back bet.
How is Back Betting used in Sports Betting?
When a back bet is placed in sports betting, the stake is wagered on a specified outcome, with the odds offered by the bookmaker determining how much will be received if that outcome actually happens. The following are examples of common types of back bet:
A bet on Liverpool to beat Everton at odds of 6/1. If a back bet of £5 is made at these odds, and Liverpool win the match, then the pay-out will be £35, £30 profit plus the original £5. If the match is drawn or Everton win, the stake will be lost.
A bet on a horse to win a race at odds of 16/1. Assuming a £5 stake again, if the horse wins the race in question the pay-out will be £85, £80 profit plus the original £5 stake. Nothing will be paid out if the horse finishes second, third or fourth, which is commonly known as placing.
Back bets offer a fantastic opportunity for coming to grips with the basics of sports betting such as choosing who or what to bet on, evaluating odds and deciding how much it is worth risking. Becoming familiar with factors such as these will form the perfect foundation for moving on to more complex and varied betting options such as each way bets, accumulators and in play bets on specific events.