When you’re starting to bet online, one of the first things you’re going to be confronted with is the process of completing a bet slip. And if you’re asking “What is a bet slip”, this is the guide for you!
Completing a bet slip is generally pretty straightforward, and for an online bettor most of the work will already have been done automatically. Nonetheless, it is important to understand what bet slips are, the information that is on them, and how they work. This will help you make bets safely and successfully and will stand you in good stead as you make your way in the betting world.
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Pros and cons of a Betslip
- Convenient Record-Keeping
- Automated Calculations
- Easy Bet Management
- (Rare) Technical Glitches
What is a bet slip?
So let’s take the most basic question first. What actually
is
a bet slip? For online bettors at least, it is a record of the bet you are making, or have made. It will have all of the relevant information on there: What you are betting on; the odds for your bet; the amount of your stake; the potential return if you win; and usually there will also be information such as when the bet was placed and a unique ID number for the bet, which will be useful if you need to query anything about the bet with the customer support department.
When placing bets at an offline sportsbook, a betslip is a physical slip of paper which contains much the same information. For years before digital betting was a thing, this was the magic ticket that successful bettors would take to the counter at their nearest sportsbook in order to be paid out their winnings. While they are usually machine printed these days, they used to be filled in by hand with the salient information.
You personally won’t be filling out many details on a betting slip. The only thing you need to add to it is the stake you’re planning to bet on an outcome. The slip itself is generated when you select a market to bet on; it appears in front of you with details already entered. Say you’re betting on Arizona to beat Washington at odds of +250 (or 3/2, or 2.50). The bet slip, among other information, will say something like “ARIZONA (+250)” and have a space for you to enter your stake. Once you have done this, the slip will calculate your potential return and show that on the bet slip. When you click to confirm the bet, the bet slip is finalized and you will be able to view it on the site.
What is a bet slip’s importance?
As we have hinted above, a bet slip stands as your record of a bet you have made. In the old form of offline betting, it was the proof you showed at the counter of your sportsbook to show that you had made a successful bet. This would allow you to claim your winnings – so bettors would be very careful in keeping hold of their bet slips. But for online bettors, what is a bet slip? It is the same thing in digital form, and the good news is you don’t have to remember where you put it or try to keep it from getting coffee spilt on it – it’s stored online.
A bet slip, however, is still your proof of a bet you have made, from simple bets to
prop bets. If you’re betting online and the bet is successful, the winnings should be paid automatically to your account. On the off chance that they aren’t, though, it is beneficial to have a digital record of the bet you have placed, so you can enquire to the online sportsbook regarding when your winnings will be paid. Also, it is simply a good idea to have a record of bets you have placed so you can understand the situation of your account at any given moment. Knowing how many open bets you have and how much money has been staked – as well as how much you could win – is important for your records.
It is, in fact, probably a good idea to take a screenshot of every completed betslip in your online betting and
SGP sports betting
accounts. Computers can make mistakes, and while it is exceedingly rare, there may be a point where the online betting site doesn’t have a record of a bet you have made. If you have taken a screenshot, making sure you keep the unique betting ID number in the shot, it will be easier for them to find the bet you placed and remedy any error whether it’s your own money or
free bet offers
you’re working with.
| Bet ID | Event | Selection | Odds | Stake | Potential Return | Status |
| 123456789 | Boston vs Denver | Boston to Win | +250 | $50 | $125 | Pending |
How a betslip works
With everything we’ve said so far, it’s easy to get the impression that a betslip for a
straight bet
is a complicated document – and it does carry a lot of information. Don’t be too concerned, however, as most of the information is generated automatically and you yourself really won’t need to do too much beyond clicking a few self-explanatory options. Let’s look at how a betslip for online betting is created and how it works.
- You decide the bet you want to make. If we’re saying that you want to bet on an NBA game between Boston and Denver, you would navigate to the correct market by selecting Basketball>NBA>Boston vs Denver. The bets on offer will be listed for you, and you select the one you want to make.
- We’ll assume you are betting on Boston to win. Once you have clicked on this option, the bet slip will appear on your screen. It will contain most of the information already, including your chosen bet and the odds for that bet. It will have a field for the stake, which you need to fill in before you proceed.
- Your bet slip will then display all the original information, your stake, and the winnings you stand to make if the bet is successful. You need to read the bet slip and confirm that you are happy with the information. There will be a button on the bet slip saying something like “Confirm” or “Bet”, and only when you are sure you are happy with the bet should you click that button. Once confirmed, your bet cannot be taken back.
- Your bet slip will then be moved to the section of the site where details of your bets are kept. You can check back on it at any time. If the market allows for early cashout, there will be a section on the bet slip telling you how much you could claim if you cashed out right away. This detail will change during the game – increasing the amount if the bet looks like winning, decreasing if it’s looking less likely.
- Once the game is over, the bet slip will show whether the bet won or lost, and confirm the financial details of the outcome.
There are variations on this process, however, with the most notable being for multiple bets. If you want to make a parlay – perhaps betting on the correct outcomes of three separate matchups – you would select those three bets and they would be added to the active bet slip. You would then be offered odds on this parlay, but potentially also on different forms of multiple bet, such as a Trixie or a Yankee, where the multiple bet is split into other, smaller bets. We have guides to those forms of multiple elsewhere, so it is worth understanding what they are before considering making those bets. Once you are confident on the sort of bet you want to make, you select that on the bet slip and then, as above, confirm the bet.
What is a bet slip? Now you know!
A bet slip is, generally, a pretty simple document once you know what you are dealing with, but there is certainly something of a learning curve to handle. What you should be taking away from this guide on What is a bet slip is the following, fairly simple, information. A bet slip is your way of recording the bet that you are making; you choose the bet and then enter your stake, and the bet slip will display your potential winnings. It is something you should always keep a record of, both so you know what bets you have open and so you can challenge any mistakes the bookmaker makes. Bet slips have been part of betting since betting has been a thing – now, they’re just more intelligent.
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FAQ
The standard information on an online bet slip will include the actual bet being made – the team or player name and what they are being backed to achieve – as well as the odds, the stake and potential winnings. The stake can be decided by the bettor and the potential winnings will change based on this. There will also be an identifying unique number on the bet slip, for reference should the bettor need to ask questions of the customer support team. In cases where a multiple bet is being made, the bet slip will offer the options for types of multiple bet that can be made. Once the bet is confirmed, the bet slip will give information on the type of bet made, and potential winnings, as well as the value of any immediate cash-out (if in-play betting is allowed).
❓ How do I confirm and place a bet using an online bet slip?
Once the bet has been created – with the market betting on having been chosen and the stake decided – you will then be offered the chance to review the bet slip and confirm that the details on it are correct. Once you are assured that the bet information is correct, you can then choose to confirm the bet by way of a button on the bet slip that will be labelled “Bet” or “Confirm”. Only click this when you are sure the bet is correct, because you cannot rescind the bet once it is confirmed.
📷 Why is it important to keep a record or screenshot of my bet slip after placing a bet?
Computers are not infallible – they can make mistakes, and things can go missing from time to time. This is generally a temporary issue and will be amended by the sportsbook within a brief period. However, if you have questions about your bet and need to follow up with the customer support team, you will find it much easier with referenced evidence of the bet. Keeping a screenshot will assist you with this.
