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Betting Slip Explained: Get Your Slips Ready

Before any sports bet is placed online, it first has to go into a betting slip. All of the best sports betting sites out there use a betting slip as a method of collecting bets and giving the player a place where he can examine his selections, choose his stake and place the bet. Learn more about how betting slips work and what they are before you place your bets.

Most important facts:

  • Pick out your selections for the betting slip
  • Place single bets or accumulators
  • Calculate odds and review your bets
  • Cash out your winnings any time
  • Choose from a variety of betting options

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Top 7 Questions about the Betting Slip

Betting slip is a relatively simple concept used at most betting sites in Nigeria, but there are still some questions you may have about it. If you are curious about how the betting slip works, here are the top 7 questions that most people have about it and our answers.

  1. What is a betting slip?

A betting slip is the section of the betting site where all your selections are placed, allowing you to bet them as singles, doubles, trebles, combo bets, systems etc. You can easily add and remove bets to and from your betting slip and you can see all the betting odds of the selections you have made in your betting slip.

Betting Slip Explained

Place your bets on your Bet365 betting slip

  1. How do accumulators work?

Accumulator is a name usually used to refer to a bet that includes more than three selections, although technically doubles and trebles are also accumulators. These bets include multiple selections and the odds of each of the selections are multiplied, often making very high final odds. In order to win an accumulator bet, all your selections will have to be winners. If a single selection does not win, you lose the whole bet. Accumulator betting is a part of many punters’ sports betting strategies but it does carry more risk than singles betting.

  1. How do I place my bets?

Many novice bettors don’t quite understand how to bet online. Simply selecting a bet from the betting list will not place any money on it. The selection you make will be added to your betting slip. You will need to go to your betting slip and enter the amount you want to bet, as well as select whether you want to bet on singles or accumulators. Once your bet is all set up, you can click the bet button and your bet will be placed.

  1. Should I Bet on Singles or Accumulators?

Both options have their allure. Accumulators are very fun and can return huge yields. However, most professional bettors prefer to bet on singles and take their profits one at a time. The main reason for this is to avoid the huge variance that comes from betting on accas. Additionally, it can be very difficult to find multiple selections worth betting in a single day. For a good choice of betting options, check out our betting tips sections with betting predictions from our betting experts.

  1. Can I track my bets?

Of course! Most betting sites out there allow you to track your bets through their interface, which may differ from site to site. In either case, you will be able to see your active and your settled bets with no more than a few clicks, with all the selections from your betting slips now being active bets or settled bets.

Betting Slip at Betway

A representation of the Betway Sports betting slip

  1. How are my winnings paid?

All the winnings made from the bets you place are paid automatically when you bet online. This means there is no need for you to claim any money and your bankroll will be increased by the amount you have won immediately upon the bet being settled. Most online bookmakers will settle the best just seconds or minutes after the last selection on your betting slip ends.

  1. Do I have to wait out the last selection?

You have a long odds accumulator that is almost there, but one match still to go? No problem! Most bookmakers nowadays will let you cash out your winnings at reduced odds without having to wait out the last bet. While you may end up losing some of the potential profits, you may also win an acca that was destined for failure as that last game simply does not come in. You can even cash out your in-play bets at most live betting sites in Nigeria. The choice of cashing out or not is up to you, so choose wisely.

  1. What are each way bets?

Applicable only in horse race betting, each way bets are bets where your stake is split into half. The first half of the bet goes towards your horse winning the race. The second half goes towards your horse placing in the top 3 or 4 places at the race. The place bet can include more than 4 places in bigger races. Many betting sites in Nigeria don’t provide horse race betting, so you may want to look to international sites like Betway for horse racing options.

Conclusion: Place Your Bets

Betting slip is the place where all your betting selections are accumulated in one place for you to review and bet on if you so choose. Unlike live betting slips that can be quite messy and hard to read, online betting slips are neat, easy to understand and very interactive. Once you have signed up with a new betting site, make sure you go through the betting slip in detail and learn how it works on the specific site to avoid any confusion or mistakes.

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