Payout Betting Term Meaning
There is a dictionary full of betting terms, but none are as glorious as ‘payout’. This term hardly needs an explanation because it’s already understood from the word, but for those who are unsure, please continue reading.
A ‘payout’ is how much a punter will win, or has won, on his bet. Some bettors, and bookmakers for that matter, refer to the payout as the amount of money given back to the customer who won the bet.
This is slightly incorrect as that money also includes the bettor’s original stake. The payout is the profit the punter collected, or looking at it from the other side, the amount that the bookmaker had to part with.
This is an example betting market from the FIFA World Cup clash between Portugal and Morocco. The odds are shown in European/UK decimal format which already includes the stake value.
|Match||Portugal Win||Draw||Morocco Win|
|Portugal vs Morocco||2.10||3.05||4.00|
To calculate the return with decimal odds, simply multiply the stake by the odds. To then determine the exact payout, deduct the stake from the returns as shown below.
A £10 bet on Portugal to win (£10 x 2.10) = £21.00 returns (bookie payout: £11.00)
A £10 bet on the draw (£10 x 3.05) = £30.50 returns (bookie payout: £20.50)
A £10 bet on Morocco to win (£10 x 4.00) = £40.00 returns (bookie payout: £30.00)
How to get higher payouts
For single selection bets, the higher the bookmaker’s odds, the bigger the payouts will be (if the value of the stake remains the same). The issue with this is that you are betting against the favourite which isn’t a very good long-term strategy.
Certain bookmaker bonuses and promotions are an excellent way to get higher payouts. For instance, the popular Price Boost offer. This increases the odds on certain selections, or with some betting sites you can choose the exact bet to boost. Therefore, you get a higher payout than what you would have received from the original odds.
Accumulator betting is renowned for big payouts. With a bet like this, the stake + winnings for the first leg/fold is put down for the second leg/fold and so on; meaning a multiplication of winnings. You can place accumulator bets using small stakes and come away with a massive payout if you get all your selections correct.