What Does Bar Mean in Betting? | Make Underdogs Pay
Punters prefer to back favorites, so underdog betting is the exception rather than the rule. What does bar mean in betting is a legitimate question for new players, unfamiliar with the term.
This betting guide explains how this type of betting against favorites looks like. It is one of the best-paying markets, in terms of betting odds, therefore appealing. High odds come at a price, but they can work in your favor with the right approach and the correct strategy.
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What does bar mean in betting?
How bar is used in sports betting?
Once you understand what does bar mean in betting you can use it for other sports. The same concept applies as betting sites will pool together the least likely teams, athletes, or horses to win. Essentially, you are betting on the field and against the top contenders. This type of sports betting carries risks such as high variance and therefore requires excellent bankroll management.
Bar betting in horse racing
Beginners should start with understanding what does bar mean in horse race betting since this is the best sport to bet on using this market. The odds on favorites rarely sink below 3.00 and more than a dozen horses compete in the race. Bookies will offer odds to the most likely horses to win and allow bar betting on the least likely candidates.
Bar betting in greyhound racing
The differences between greyhound and horse racing betting are insignificant when it comes to bar betting. You bet at online bookmakers and try to predict the winner to cash in on the high odds. When there are more than 10 greyhounds in the race, or you bet online on the winner of multiple events, bar betting comes in handy.
Bar betting in football
Football is the most popular sport and international tournaments generate tremendous interest. Mobile betting sites will quote the favorites while offering a broad price on underdogs to win the tournament. Even though there are more teams in the race, if you understand what does bar mean in betting you can easily use it for football. In the case of sports betting, you must wait for the end of the event to be paid.
How bar odds are structured
To understand the betting bar you need to begin by grasping how bookies make money by setting the odds. They use a mix of statistical analysis, odds compilers, and examination of meta-factors. This allows them to determine which teams are more likely to win and by what percentage. Once they determine the chances and the correct value add the house edge and produce the final odds.
One of the biggest sports betting mistakes is to bet only on favorites regardless of the odds. Bar betting usually gets the biggest odds despite including numerous teams. These are the least likely candidates to lift the trophy, based on history, form, and team strength. These are outside bets with minimal chances to win, but the odds are juicy. While the teams pooled together are huge underdogs, research is needed to determine if there is value in the odds offered to bar the field.
Tips and tricks for bar betting
Betting the bar is tempting because of the high odds and multiple chances to succeed. The odds are still stacked against you, so you need proper betting advice to have a chance. Variance will always be an issue but you only need to win once in many tries to stay profitable. These tips and tricks can help you boost your chances and beat the odds in the long run.
Tip
- Seek value in the odds offered – regardless of the types of sports betting you consider, always look for valuing the odds. If you think that your team has a chance of 100 to win and the bar bet offers odds of 120, place the best. Not only does the value exceed the risk, but you also have the bonus chance of another underdog causing an upset.
- Stick to single bets – the odds are high enough to win a lot of money if your prediction is correct. Don’t use accumulators or other sports betting strategies and create parlay bets. It would be heartbreaking to win the bar bet and lose on one of the other selections.
- Consider betting exchanges – compared to regular bookmakers, the best sports betting exchanges have superior odds. They have more options for bar betting while offering the possibility to lay favorites. Betting exchanges are fine choices for punters using advanced sports betting systems.
- Play at live bookmakers – it is always better if you have the option to hedge against the risk. Live betting strategies such as arbitrage can only be used on bookmakers with an in-play offer. They don’t interfere with the main bar betting strategy, so you hit two birds with one stone.
- Use bonuses and promotions – bar betting implies huge odds, so variance will be an issue. Try to use the free bets or other bonuses offered by bookmakers to new and existing players. Even if the stakes are subtracted, you still end up with a big win if you are lucky.
Set the bar higher with a special type of bet
When you bet online you provide yourself with more options and can tap into the potential of major tournaments. Whether you choose to bet on horse and greyhound races, football, tennis, golf or other large-scale events you should know how bookies set the odds and what does bar mean in betting. It allows you to bet on any of the underdogs and win regardless of which causes the upset. The odds are still surprisingly high, so you set yourself up for success while mitigating the risks.
FAQs: Your questions on bar bets answered
Those who know what does bar betting means in horse racing are also aware of the fact that such odds are more frequent online. The good news is that it is also easier to request a bet on any contender at online bookies.
Once you learn what does bar betting stands for in horse racing you can use this knowledge to bet on other sports. That’s because the bar price is suitable for any major tournament with a high number of contenders.
Yes, most bookmakers allow bar betting.
Bar betting is a high-risk approach that is subject to great variance. Bankroll management is essential and you need to keep the stakes low to weather long losing streaks, in anticipation of that big win.
In betting, "20/1 bar" signifies the fact that you will be paid 20 times the stakes if any of the underdogs in the bar pool wins.
Bar bets are legal for any bookmakers that offer their services under a license. They fall into the same category of sports betting options, so bar betting is also legal.