By 
Online sports betting has become a popular pastime for Kenyans. Its accessibility is fueled by increased internet connectivity, cheaper smartphones and more reliable M-Pesa payments.
It is important to look for a bookmaker that offers a variety of payment methods. Most melbet kenya sites accept M-Pesa, Airtel and PayPal deposits. Many of them also offer free bets for new players!
What is a bookmaker?
Bookmaking is a form of gambling in which people place wagers on sporting events. A bookmaker accepts bets and pays off winning bettors on agreed-upon odds. In some countries, it is illegal to operate as a bookmaker without a license. Licensed bookmakers are required to follow strict legal standards and undergo rigorous background checks.
Start off your week with tech news recap and trending conversations in your inbox
When setting odds, a bookmaker strives to reflect the true probability of each outcome. However, they also factor in a profit margin known as the “margin” or “vig” (or “juice” in US markets). This ensures that the bookmaker will make a profit regardless of the result of the event.
In order to reduce risk, bookmakers often set limits on the maximum amount a bet can win. This is done to prevent large losses caused by a single bet or an event. They can also adjust their odds based on real-time patterns to improve profitability. This is especially important if they receive a high volume of bets on a particular outcome, such as a horse that has been tipped by a tipster.
How does a bookmaker make money?
Almost all betting sites in Kenya accept deposits made through mobile payments such as M-Pesa and Airtel Money. These methods are the cheapest and easiest to use for Kenyans. Players will need to register an account on their preferred site, fill in their correct details and then deposit money to start wagering.
Some betting sites offer free bets on registration to attract new players. This is a great way to get started and test out the site. Depending on the bookmaker, this type of bonus can be either a one-time deal or a regular offering to loyal customers.
Another popular form of bet is a jackpot. These jackpots are offered on a set number of games and can be extremely lucrative for players who correctly predict all the games. The payouts for winning a jackpot can be millions of shillings. These types of bets are often paired with other types of bets such as accumulators or boosted odds.
How does a bookmaker make a bet?
Bookmakers make money by taking in bets and paying out bettors. They do this by offering odds on different outcomes of an event and attempting to balance their books by raising the odds on less popular results and lowering them on more popular ones. However, because of the vagaries of individual bettors and inside information acquired by large bettors, a perfectly balanced book is rarely possible. This means that bookmakers sometimes lose money on some bets and sometimes win it on others.
DISCLAIMER: This article is sponsored and does not substitute for professional advice or help. Any action you take based on the information presented in this article is strictly at your own risk and responsibility.
Feature image: supplied
Comments