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What Is a Void Bet?

As a lover of sports betting we’re sure you’ve heard the term “void bet.” You may have wondered what it is. And more importantly, is there any benefit from making it? Today at Jackpotfinder.com, we thought we take the time to do a deep dive is it everything you need to know about void bets? This includes any jackpot winning tips and tricks as well as how to make the best use of them. So without further ado, let’s get stuck in.

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What Is a Void Bet & How Does It Work?

Now, as a sports bettor, there’s a good chance you’re familiar with the concept of a refund. A void bet is when an event is cancelled or postponed. Meaning that the gambling website or sportsbook will cancel all bets that were made. These bets can be refunded or you can receive them in the form of a free bet on the website in question. Sometimes, you’ll see that bets have been avoided because the sportsbook made a mistake in the odds. Or some other error such as the wrong team being listed as the favourite.

Void Bets As A Hedge

Though we can understand that there may be some frustration when it comes to having your bet voided, you should consider the plus side. Which is that it’s a great way to protect yourself from fraud. Obviously, it’s good to know that when you place a bet, you will get your money back if it’s voided. Some more experienced gamblers use a void bet as a way of hedging their bets strategically. For example, if you place a bet on team A to win and then on team B to win. You were still in profit if either team wins. But if the game is voided, then you only lose your initial stake in the game that’s cancelled.

So depending on your point of view, void bets can either be harmful or helpful to your bankroll. That’s why we suggest you do your research before placing any void bets.

Benefits Of Void Bets

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It goes without saying, that gambling with your own hard-earned cash is going to be a risky venture. This isn’t at all surprising considering that there’s always the possibility that you’re going to lose your own money. On the flip side of the coin, there’s also the possibility that you could win the jackpot online, and win big. Obviously, this is what keeps people returning to sports books and online casinos. For many of these players, the thrill of the possible win outweighs the risk of a loss. There are sensible bettors who realise that one of the keys to success is to minimise their risk. One means of doing this is by making a void bet. 

Although it sounds crazy,  a void bet is one that you place on an event that will not occur. Betting on football jackpot games that get cancelled due to bad weather. In which case the game will be voided, as will be your bet. This means you get a refund. Now you’re probably wondering what on earth is the advantage of doing this. Well, once you understand betting a little deeper, you’ll see that this can help mitigate your potential losses.

Let’s look at an example. Say you’re going to be betting on a horse race. Whilst doing pre-race research you have seen that one of the horses is injured and will be withdrawn from the competition. Now, if you put a wager on that horse beforehand, then you get your money back. Rather than lose it if a horse failed to win.

The Risks Of These Bets

It goes without saying that making void bets has its own risk. Imagine betting on an event to be cancelled, yet it goes ahead after all. In this case, you would certainly lose your money. But if you look at this from a gambling strategy or perspective, you can see that the potential rewards outweigh the risk. With this in mind, the next time you place a wager it might be worth considering making a void bed. This might help you come out ahead.

Making A Void Bet

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The first thing is to choose an event you want to bet on. Then select a reputable bookmaker like 22Bet Sportsbook. Decide how much you’re willing to wager and then make a selection. After that, it’s just a case of submitting the bet and waiting for the outcome. If your event is cancelled, then your bet will be voided. You’ll receive your money back or a free bet. If it does go ahead, then you either win or lose, depending on how you bet and the final result.

Risks With Making A Void Bet

It’s still a truism that void betting is still betting. In that, it’s a risky proposition. After all, you’re making a wager that something will not happen. As with all gambling, there’s always a chance that what you bet against will actually occur. If this does come to pass, then not only will you lose any potential winnings, but also your initial bet. It’s worthwhile pointing out that making void bets is generally regarded as a bad form within the betting industry. If you do this too many times, then you may be barred from making bets in the future. Just a warning!

Don’t Get Banned

The point here is that it doesn’t take long for a sportsbook or online sports betting website, which is checking all bets, to discover that someone is making regular void bets. On the whole, if you make void bets only once in a while you should be OK. But whatever you do, don’t go over the top as the ban hammer will fall very swiftly. In addition, many sportsbooks communicate the details of bad players with each other. This means it may be hard for you to find a reputable betting site that will accept your bets later on. And with new KYC requirements, it’s more and more difficult to hide your real identity. Especially if you want to receive any payouts.

Examples Of When To Make A Void Bet

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There are a number of reasons why you might want to make a void bet. One would be that an event starts, but then it’s abandoned or postponed. This can be because the result is no longer in doubt. Furthermore, some more experience gamblers used void bets as one of their hedging jackpot winning strategies. A good example of this is that you place a bet on a certain team to win. Then suddenly the opposing team goes 2 goals up. If you place a void bet on the opposing team, then you guarantee a profit.

Read The Terms And Conditions 

It’s worthwhile to keep in mind that your void bets always carry the risk of being unsuccessful. Before you make them, whether at an online sportsbook like 22Bet Sportsbook or at the local betting shop, it’s important to read the terms and conditions. These will tell you the rules regarding making void bets and therefore stop you from making any foolish mistakes. Whatever happens, if you see that void bets are not allowed in the terms and conditions, then don’t make them. Nothing’s more pointless than being banned from a bookmaker for not following its rules.

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