What is Fixed Odds Betting?
Fixed Odds Betting is wagering or betting against on odds of any event or activity, with a fixed outcome. In this instance we speak of betting on the outcome of various sporting activities (e.g. betting on the outcome of a football match: win, lose or draw).
What is JustBet?
JustBet is a fixed odds betting game that brings the excitement of sports betting to the Jamaican public, allowing fans to bet on the outcome of matches and events in their favourite sports, at various locations across the island.
JustBet offers the opportunity to bet on the outcome of individual games or matches and also on the outcome of the entire series or tournaments.
What makes JustBet so great to play?
1. Thrill and excitement of becoming more involved with sports, while winning money!!!
2. The most sport and sporting events are on offer, to choose from each day
3. It's flexible, you can tailor-make your bet
4. Winnings are pre-defined - You can calculate your winnings as soon as your bet is placed
5. You can play almost up to until the start of the game/event
6. Players' winnings are not affected by the number of the players/winners
How much to Play JUSTBET
1. Minimum Bet amount - $50
2. Maximum bet amount (on one ticket) - $50,000
3. Maximum winning amount (on one ticket) - $5,000,000
What sport can be bet on with JUSTBET?
1. Football (Soccer) - All the major football leagues (English, Spanish, Italian, German, UEFA, Champions League, FA Cup, etc.) and Tournaments (FIFA World Cup, Confederations Cup, etc.)
2. Basketball - NBA, European League, International Competitions
3. Cricket - All Test, One-Day International and Twenty/20 matches and series
4. Track & Field - IAAF Meets and competitions, World Championships, Olympics
5. Golf - All major tournaments
6. Tennis - All grand slam tournament
7. Auto-Racing - Formula One racing
8. Boxing - Major bouts in major weight classes
9. American Football - NFL
How do you place a bet with JUSTBET
a) Choose the matches/events you want to bet on from the sports programme, paying attention to the minimum number of matches* you are able to select
b) Write your predictions on the bet slip provided at the agent location
c) Select the amount that you would like to bet and write it on the bet slip
d) Submit the bet slip to the Agent
e) Collect the ticket/receipt the Agent has printed from the MICROLOT terminal
f) If it is a winning ticket, winnings may be collected at ant JUSTBET terminal
g) Tickets may only be cancelled up to 5 minutes after the time of sale (but not after the game has started), and only at the same shop terminal it was purchased
h) In order to collect winnings a player must present the original valid ticket to an Agent
i) Winnings may be redeemed at an Agent location or a Supreme Ventures Regional centre, depending on the amount
j) For winnings totalling $50,000 or under, the Agent must pay. Winnings over $50,000 must be collected from a Supreme Ventures Regional Offices/prize Payment Centre. Maximum winnings from any one ticket is $5,000,000
Types of bets with JUSTBET
1 - home team to win
X - draw between both teams
2 - visitor team to win
Over/Under - the total number of goals scored in a football match will be over or under 2.5 goals. (2.5 is standard for football)
Over/Under - the total number of points scored in a basketball match will be over or under the number printed in the programme, e.g. A game between Bulls and Spurs is given an under/over of 198 points. The game ends: Bulls 98 - 90 Spurs. Total number of points scored was 188, therefore the game has ended "Under", because total points scored was less than 198.
Betting with Handicaps - Bets can be placed on the winner of matches, based on a handicap. Handicaps (or point spreads) are extra points given to the weaker of the two teams playing. With handicap betting, the favourite must win the game by more than the handicap, for a bet on the favourite to be a winning prediction. Similarly, if a bet is placed on the weaker team, i.e. the team that has been given the handicap, and the weaker team loses by less than the handicap, then it is still a winning prediction. E.g. Lakers are playing the Heat and the Heat are given a handicap of 5.5 points. The game ends Lakers 100 - 97 Heat. A bet placed on the Lakers to win would be a losing bet, because the Lakers did not cover the handicap. However, a bet placed on the weaker team, would have been a winning bet, because even though they lost the game on the court, they lost by less than the handicap.
Handicaps can also be applied to soccer, in matches where a very strong team is playing a very weak team. E.g. Manchester United is playing Leeds United, and Leeds is given a handicap of 2 (goals). For a “Man U win” to be a winning bet, Man U must win by more than 2 goals. If Man U were to win by 1-0, it would be a losing bet because they did not cover the handicap. If Man U were to win 2-0, the result would be a draw, because the handicap of 2 would be added to the weaker team’s (Leeds’) score. If Man U wins 3-0, then a “Man U win” would be winning prediction, because they would have covered the handicap.
Double Chance option - includes two (2) outcomes in one prediction (e.g. selecting the option 1 and 2 as opposed to selecting 1 or option 2)
Double Selection option - includes two (2) outcomes on one ticket (e.g. selecting the options 1 and 2 for 2 seperate chances to win)
Systems Bet (Permutations) - creating combinations from your selected match predictions (group match predictions into smaller combinations)
*NOTE
In all Bet types, the minimum sign must be taken into account, determining the minimum number of matches to be selected to form one column
The minimum sign applies to:
a) Minimum number of matches selected - e.g. if the Minimum sign is 3, then the player must select a minimum of 3 matches to a maximum of up to 30 matches
b) Minimum number of Systems selected - Player cannot choose Sytems below the minimum sign (e.g. Player selects 10 matches and minimum sign is 3, player can select Systems 10 to Systems 3, but not below 3)
Main Betting Options with JUSTBET
1) Simple Bet - forming one column
b) Player selects five (5) matches
101 - 1 (odds: 2.00)
102 - 2 (odds: 3.00)
103 - X (odds: 2.00)
104 - 2 (odds: 3.00)
105 - 2 (odds: 4.00)
N.B. - 1 Column is created and all predictions must be correct to win! If one prediction is incorrect, total bet is lost
Cost of ticket = $10 x 1 Column x 5 (multiplier) = $50
In a Simple Bet (single selection) as stated above, if ALL predictions are correct, the calculations would be:
= $10 x 1 (column) x 5 (multiplier) x 2.00 x 3.00 x 2.00 x 3.00 x 4.00 = $7,200
If a player wants to BET $1,000 then:
Cost of ticket = $10 x 1 column x 100 (multiplier) = $1,000
If ALL predictions are correct, the calculations would be:
= $10 x 1 (column) x 100 (multiplier) x 2.00 x 3.00 x 2.00 x 3.00 x 4.00 = $144,000
THE MORE YOU BET, THE MORE YOU WIN!
2) Double Chance - selecting the Double Chance option instead of selecting option 1, option x or option 2 (e.g. selecting option 1 or X, 1 or 2 or X or 2). Double Chance is identified by a capital D beside the match selection.
This option provides:
- A better chance of winning (because of 2 options in one)
- No increase in the cost of the ticket
- A smaller winning amount (because the Odds for Double Chance is usually less than the Odds for options 1, X or 2
a) Player selects 5 matches
101-1 (odds: 2.00)
102-1 or 2 D (odds: 1.30)
103-X or 2 D (odds: 1.70)
104-2 (odds: 3.00)
105-2 (odds: 4.00)
N.B. - 1 Column is created and all predictions must be correct to win!. if one prediction is incorrect, total bet is lost.
Cost of ticket = $10 x 1 column x 5 (multiplier) = $50
In a Simple Bet (simple selection) as stated above, if ALL predictions are correct the calculations would be:
= $10 x 1 (column) x 5 (multiplier) x 2>00 x 1.30 x 1.70 x 3.00 x 4.00 = $2,652
Compare winning amount of Simple Bet example up above of $7,200 as compared to Double Chance example of $2,652 above. This is based on different odds for different predictions, 102-2 (odds: 3.00) as compared to 102-1 or 2 D (odds: 1.30)
3) Double Selection - This means selecting two (2) options on one bet, even though only one of the options may win (e.g. selecting option 1 and option 2 to win instead of selecting ONLY option 1 to win)
This option provides:
- A better chance of winning (because one out of the two options may win)
- Increases the cost of the ticket because you are bow paying for two (2) options on the bet, which means two (2) columns (remember $10 per column)
- Provides a biger winning amount that the Double Chance feature (because of the original odds for each selection of 1, X or 2)
- Although the increase in the cost of the ticket, the winnings is far greater than the winnings from a Double Chance selection
a) Player selects 5 matches:
101-1 (odds: 2.00)
102-1 or 2 (odds: 1=2.00; 2=3.00)
103-X or 2 (odds: X=2.00; 2 = 3.00)
104-2 (odds: 3.00)
105 - 2 (odds: 4.00)
N.B. - 2 Columns will be created because of the double selection (selecting 2 predictions instead of 1 prediction for mtches 102 and 103). See columns below.
Columns:
A B
101-1 (odds: 2.00) 1 (odds: 2.00)
102-1 (odds:2.00) 2 (odds: 3.00)
103-X (odds: 2.00) 2 (odds: 3.00)
104-2 (odds: 3.00) 2 (odds: 3.00)
105-2 (odds: 4.00) 2 (odds: 4.00)
N.B. - 2 Columns are created. Either one of both columns must be predicted correctly to win
- 2 Columns are created: 1, 1, X, 2, 2 and 1, 2, 2, 2, 2
- ONLY one column can win
- Remember, the minimum cost per ticket is $50.00
- Minimum cost of the ticket = $10 x 2 columns x 3 (multiplier) = $60
- The winning column will be: $60 x the odds of the winning column
If Column A wins = $10 x 2 (columns) x 3 (multiplier) x odds (2x2x2x3x4) = $5,760
If Column B wins = $10 x 2 (columns) x 3 (multiplier) x odds (2x3x3x3x4) = $12,960
NOTE:
At any one time, a person can bet on up to:
- 30 matches in football and cricket
- 15 matches in basketball
- The multiplier (a feature on the Microlot terminal) is used to ensure the minimum bet is $50 and also to arrive at the amount the player wants to bet, whether it is $50, $200 or $10,000
- The multiplier is multiplied by the cost per column ($10) and the number of columns to arrive at the cost of the ticket:
e.g. $10 x 1 column x 5 (multiplier) = $50 (minimum bet amount)
e.g. $10 x 2 columns x 3 (multiplier) = $60
e.g. $10 x 1 column x 100 (multiplier) = $1,000
e.g. $10 x 5 colums x 1000 (multiplier) = $50,000
1) System Betting
A system bet offers the possibility to summarize more bet combinations in one bet and basically create a "combo-bet."
If all tips of a system bet are right, you win the entire bet. But ALSO, if you have wrong bets in a system bet, there is still a chance to win the bet, if some of the other selections in the system are right.
System Bet Examples:
A) Regular System Bet Example
Player selects 5 Matches and System 4 (create columns of 4 from 5 matches)
101-1 (Odds: 2.00)
102-2 (Odds: 3.00)
103-X (Odds: 2.00)
104-2 (Odds: 3.00)
105-2 (Odds: 4.00)
1 |
1 |
1 |
1 |
- |
2 |
2 |
2 |
- |
2 |
x |
x |
- |
x |
X |
2 |
- |
2 |
2 |
2 |
- |
2 |
2 |
2 |
2 |
5 Colums are created = 5
- Any or all colums that are predicted correctly WIN!
- Cost of Ticket = $10 x 5 (colums) = $50
- Winnings = $10 x odds of winning column (s)
The more you bet, the more you Win!
B) System Bet with 'Standard Match' Example
Player slects 5 Matches and System 4 (create colums of 4 from now 4 matches, because the standard match is constant, and must be correct for the bet to be successful)
Column
101-1 (odds: 2.00) -
102-2 (odds: 3.00) 2
103-X (odds: 2.00) X
104-2 (odds: 3.00) 2
105-2 (odds: 4.00) 2
101-1 (odds: 2.00) ------ 1 -added back to the column
1 colum is created with 5 match predictions
- All predictions in this 1 column must be predicted correctly to WIN!
- Cost of ticket = $10 x 1 (column) x 5 (multiplier) = $50
- Winnings = $50x3x2x3x4x2 = $7,200
- A standard Match is a match you have chosen as a "sure winner"
The more you bet, the more you Win!
C) System Bet with 'Standard Match' and '0' Example
Player selects 5 Matches and System 3 (create colums of 4 from now 4 matches)
101-1 (odds: 2.00)
102-2 (odds: 3.00)
103-X (odds: 2.00)
104-2 (odds: 3.00)
105-2 (odds: 4.00)
101-2 (odds: 3.00)
- |
- |
- |
- |
2 |
2 |
2 |
- |
x |
x |
- |
X |
2 |
- |
2 |
2 |
- |
2 |
2 |
2 |
1 1 1 1 added back to column 1 (extra "0" column)
4 colums are created with 4 match predictions in each column; 1 extra column created because of the "0" (extra column includes the Standard match)
- Any or all colums that are predicted correctly will WIN!
- Cost of ticket = $10 x 5 (colums) = $50
- Winnings = $50 x the odds of the winning column (s)
A standard Match is a match you have chosen as a "sure winner"
The more you bet, the more you Win!