Bet365 Bet Builder - What is it and how does it work?
It's a sign of the times - the betting industry continues to move at pace and naturally the biggest guns in any industry will be usually be the ones to innovate. The trend in this sector is to give the sports bettor the facilty to personalise their betting as much as possible and give the punter more control and choice of how they compile and put together their betting strategy.
To this end, a number of bookmakers have moved to giving the customer the facilty to put together their own betslips and even choose their odds to a degree. bet365, being one of the large entities at the forefront of betting technology and customer focus, have now introduced "Bet Builder"
Bet Builder lets you create the pre-match bet you want on any Soccer match.
You can select from the most popular markets and, once you have added them to your bet, you can calculate your own odds!
For example, you can choose :
- First Goalscorer
- Both Teams to Score an
- Number of corners
to create one single bet with the price for the combined selections.
How to build your bet at bet365
You can make up to six selections to create your unique bet. Choose from a wide range of markets, including (when available on the selected fixture):
- Match Result (Full Time or Half Time)
- Both Teams to Score
- Number of Goals Scored
- Players to Score (Anytime, First, Last, 2 or More, 3 or More)
- Cards (Total, Player To Be Booked)
Make your selection and this will be added to the Bet Builder slip; repeat the process for up to five more markets and you can then calculate your own odds.
Once you are happy with your bet, select the price displayed on the Bet Builder slip and the bet will be added to your bet slip.
With the fantastic Bet Builder feature, a range of offers and extensive pre-match and In-Play markets, bet365 is a great place for all your Soccer betting.
Bet Builder Terms and Conditions :
- Bet Builder is only available on Soccer matches, and can only be used for pre-match markets.
- Bet Builder bets cannot be combined with other Bet Builder bets or other betting opportunities and will be placed as a single bet only.
- Bets placed through Bet Builder will be available for full Cash Out prior to the fixture starting. Partial Cash Out and Auto Cash Out will not be available on any Bet Builder bet and no Cash Out options will be available once the fixture goes In-Play. Bet Builder bets cannot be amended using the Edit Bet feature.
- A maximum of six markets from a single match can be included in a Bet Builder bet.
- If a market within a Bet Builder bet is void/pushed, then the entire Bet Builder bet will be void/pushed - e.g. if your Goalscorer selection does not play the entire bet will be void regardless of the outcome of the other selections.
- The 2 Goals Ahead Early Payout offer will not apply to bets placed through the Bet Builder feature.
- bet365 will not be responsible if the Bet Builder feature is not available for technical reasons.
- bet365 reserves the right to reverse the settlement of a Bet Builder bet if the bet or a selection within the bet is settled in error.
- bet365 reserves the right to accept or decline any bet requested for any competition or market or bet type that is included in the Bet Builder feature.
- bet365 reserves the right to amend, suspend or remove the Bet Builder feature (or any part of it) at any time for any event, fixture, market or customer.
- bet365 reserves the right to remove the Bet Builder feature for any customer or group of customers where it has reasonable grounds to believe that the customer or group of customers is misusing the feature.
A Personal View Of BetBuilder
One of the latest trends in the bookmaking industry is customised betting. The concept involves the individual requesting markets rather than relying on the odds compiled by the bookmaker. In effect its buying something to order rather than buying form an existing range of products. You can buy a suite of the peg or have a suit designed that meets your individual tastes. Customised betting is the same. You decide the design of your betting slip and the bookmaker gives you a price.
There seems to be no limit to the number of markets related to a football match but its just not feasible to group all the combinations. For example, if you wished to combine the correct score with the first player to be booked that would be about 300 permutations. Bookmakers have solved this problem and enhanced their service by offering customised betting and bet365’s version is called BetBuilder. Other bookmakers have their own version and name but basically it’s about giving the punter more options.
Online betting has opened up many opportunities for the punter. Live betting and cash out have transformed the way betting on sport is carried out. The customer is now more akin to a trader. Bets can be closed to guarantee a profit or minimise a loss. Betting exchanges have added peer-to-peer betting to the landscape. Now we can be backers or layers at a mutually agreed price. Cashing out a bet with a traditional bookmaker is like a counter lay bet after the initial back bet.
Technology has made for more flexible betting. Before the internet you could place a bet on the winner of a football match before it began. Some bookmakers updated the 1X2 after a goal was scored for shop customers but that was the limit of live betting. Bookmakers are always trying to innovate and be one step ahead of the competition. The latest innovation is customised betting and BetBulder is one of the best. The product is worthy of one of the biggest online success stories ever.
It’s about building your own custom bets and then requesting a price. There is no obligation to take the odds and place the bet. In fact you can modify the bet to fit in with your opinions and desired combinations. For example, you might think a football match will produce lots of goals but not many bookings. You could devise a bet that allows you to back this opinion in one bet. Of course you can place bets in the individual markets but BetBuilder gives you accumulated odds.
Another feature of some customised betting is bets across a number of matches. You might think one fixture will have an above average number of corners and another could have relatively few. There are no limits to these combinations with BetBuilder and the possibilities are literally endless and only limited by the punter’s opinions. It is pure bookie v punter but the balance of power has moved towards the latter. Here are some practical examples:
Manchester United v Chelsea
This is one of the biggest Premier League fixtures of the season and lots of football bettors will have an opinion. bet365 offered 126 options on this fixture including the following main markets:
Team to win the match in 90 minutes.
Both teams to score.
Player goals markets
Number or corners.
Some of these markets are related and will fall foul of the related contingencies rules. For example if a Manchester United player scores the first goal the odds on Manchester United winning the match are reduced significantly. You can’t have a double on the match winner and first scorer at the combined odds. BetBuilder gives you this option but at adjusted odds.
BetBuilder works by you making selections from these six markets. The bets are not settled at the combined odds because of related contingencies. Once you have added your options to the bet slip you are offered the odds…that’s customised betting. Its similar to the scorecast market whereby you can combine the first scorer with the correct score but at adjusted odds to take into account the related nature of these bets.
Here are the odds for options in the six betting markets related to the Premier League fixture between Manchester United and Chelsea:
Full time result – Manchester United at 29/20
Both teams to score – No at 19/20
Number of goals – Over 2.5 at 11/10
First scorer – Alexis Sanchez at 11/2
Number of corners – Over 10 at 10/11
Total cards – Over 4.5 at 4/5
COMBINED ODDS: 223/1
No bookmaker will offer you 223/1 for this bet. The odds are adjusted to take into account the markets that are related. A football match involves hundreds of events and many have an effect on the odds for another. Bookmakers love accumulators but only when the odds are in their favour. Allowing customers odds of 223/1 for these outcomes is giving too much away so the bookies act. They will offer odds to reflect the related probabilities but not at combined odds.
Clearly if Alexis Sanchez scores first Manchester United’s chances of winning the game have increased. If both teams score there is obviously a greater likelihood of more than two goals. The number of corners influences the total number of goals. These markets are related so bookmakers will not let you combine them in one multiple bet. The odds are adjusted downwards. You are in effect customising your bet and offered the odds. That is the essence of BetBuilder.
Bookmakers make money by paying out less in returns than stakes. The art is to create odds that are profitable but attractive. The bookmaker will always have the mathematics on his side. That applies to BetBuilder just as much to everything else. The concept is a good addition but the margins will always be in favour of the bookmaker. BetBuilder is attractive but even customised bets are to the benefit of bookmakers. Punters may not have had it so good but the scales are still weighted in favour of the opposition.
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