Question by Myth: How does betting work?
Well, I’ve noticed that people bet for money..so how does everyone who bet on the right thing get money? Theres like 3000+ people betting at the same time. How do they not change their bets at the last second and win money?
Best answer:
Answer by pdq
If there is something to be bet on, you just make a choice as to what the outcome will be and you make your bet. If you feel like changing your mind, you can go right ahead.
Let’s say you’re betting on the outcome of a football game. You pick Team A. If before the game starts you change your mind and decide to bet on Team B, that’s fine. Once the game starts, you cannot change your mind anymore.
Final point – there’s only one group of people that make money on betting. Those people are the bookies and casinos that are taking the bets. There are many reasons why this is true. Mainly it’s because you have to bet extra money – more money than you’ll make. For example, someone who bets 0 on a team will usually only win 0 for their bet.
Consider yourself lucky that you don’t know much about this. Betting money is an easy way to lose your money. There is no “easy money” in life. Stay in school, and work hard!
What do you think? Answer below!