Today we are learning a method that you will surely have already heard of, if you are an avid gambler. But do you know exactly what it means to ” cover a bet ” or “cover a bet slip”? Don’t worry, now let’s find out together.
Usually we talk about “covering” a ticket or bill or bet referring to a multiple bet, ie made by betting on several games at the same time. You will certainly have come within a whisker of a complicated win, getting almost all the games right… Maybe you just missed the last one, the decisive one.
Well, in these cases there is a way to forgo a portion of the maximum win to guarantee a guaranteed win. To “cover” a bet, in fact, we must bet on the opposite outcome compared to the one we played in our previous bet on that last match that is missing.
So far so easy, right? But how exactly do we cover ourselves? How much money do we have to invest again? To answer, let’s use an example.
A practical example
Suppose you have made a bet of 10 euros , betting on ten games (football or any other sport) in total.
After nine games played, we realize we are one step away from winning 1,000. All we need is the Sassuolo-Empoli postponement to hit. We will see it in live streaming with the thrill, because we have the 1 of Sassuolo but obviously we do not want to be disappointed in case of a lack of internal victory of the neroverdi!
So what to do? Well, we should be betting on X2 in that game, and let’s assume the odds are 1.90 .
At this point just do a simple calculation. Let’s take the eventual winning of the multiple (€ 1,000) and divide it by the odds 1.90: 1.000 / 1.90 is 526 .
We then bet € 526 on the X2 to obtain two practically identical scenarios: in both cases we win 1,000 from which € 30 and € 526 of our previous games must be subtracted. We can rest assured, however it goes we will pocket 444 euros net !
The calculation would be even easier if the X2 odd was at 2.00. In that case just wager € 500 to cover the bet and that’s it. We’re giving up roughly half of the potential win for a 100% sure win .
Now, do you really want to risk waiting for the last game to cheer or do you want to contain variance ? To you the choice.
