Betting Pools vs. Bookmakers: Which Works Better for You?

Wagering on sports comes down to two major options: betting pools and bookmakers. Both offer a similar thrill of risking on the outcome of sporting events for potential payouts. Choosing which one suits you depends on your personality and risk tolerance.

Whether you prefer the communal way of pools or the fixed odds of a bookmaker, it all depends on the wagering experience.

Betting Pools

Betting pools are also known as parimutuel betting. This form of sports betting involves placing all the outcomes of specific wagers in a collective pool. The odds are not fixed ahead of time but shift depending on the amount placed in each specific outcome. 

The house takes a small cut of successful outcomes and distributes the remaining reward among the members in the pool. Betting pools are common in horse races, sweepstakes contests, and any other event where there are many participants.

Pools are a favourite because of the potential for massive payouts. Choosing an unpopular outcome that ends up winning means bigger rewards that are distributed among fewer participants. This mode of wagering offers a strong social aspect, especially during major sporting events such as the World Cup or the Champions League. The experience is more about having fun than participating solely for the potential gains.

Bookmakers

This is the traditional way of sports wagering. Bookmakers offer fixed odds before a match begins. This means Betway fans get to know the possible amount to be won should the game go their way. There are no surprises as the game unfolds. What matters is the final result.

Bookmakers are ideal for players who prefer precision, control, and straightforwardness in sports wagering. You either win the amount expected based on the odds before the game started, or you don’t, there are no in betweens. The odds are determined by the bookmakers like Betway, so it’s up to you to shop around and find the best lines. The variety of games available from different bookmakers means one can wager on as many games as they want.

Which is Better?

It all depends on your personality and how you react to different sports. Casual sports fans who enjoy group fun and are more willing to embrace risks together often opt for betting pools. The social aspect enables fans to delve into deep statistics and help each other in predicting the outcomes of games.

Sports fans who love strategy and a controlled approach will opt for clear odds and a variety of options before the action starts. Bookmakers offer the tools needed for analyzing odds and competing teams for a long-term success strategy.

Conclusion

In the long run, both bookmakers and betting pools have their strengths. It all trickles down to the sporting event and the mood. Some savvy sports fans prefer both, depending on the sporting event. Whether you pool your stake with fellow fans or take on a bookie directly, the trick is in understanding how each system works. This will enable you to play to your strengths and make the most of both worlds.