What is a betslip and how does it work

Want to bet? Betslip fully explained!

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You have registered at your favorite Bookmaker and deposited your first amount of money. You read the latest BetandSlots predictions and free picks and you want to place a bet on the matches you’ ve picked and now the betslip comes into play. 

Not every betting slip looks the same. So before you bet, you should now know the different names on the betting slip. Also you must know what’s up with terms like cashout or banker.

Definition: What is a betslip?

A betting slip has several functions. But let’s distinct online betting and betting in a physical bookmaker store. If you submit your tips in a land-based bookmaker branch, you will receive a bet slip as confirmation of your bet and the proof for your possible profit.

On the internet, however, the betslip serves as a selection tool to list the tips, select your bet and click on the desired bet type (single / combination / system).

What is on the betslip?

For online bookmakers – here you can find a list of the best ones according to BetandSlots reviews – the betting slips are quite similar in terms of the fields indicated. Differences can often only be found in terms of design and construction.

A sports betting at the top are usually the selected games with your tip and the corresponding odds. If you have only chosen one game, the question of the type of bet does not arise. It’s gonna be a single bet. However, if there are several tips on the betslip, you can activate the multiple bet. Multi bet is the most used one!

If you add at least three tips to the bill, you will see different systems such as bet 2 out of 3. If the Bookie offers more complex systems, you will also find these. On top of that, you can also use one or more bankers in your bets.

A banker is a defined selection that will be included on all betting combinations. The selections marked as bankers must be correct for the bet slip to win. Punters can reduce the number of combinations by adding bankers.

For example, in a Trixie bet (3 selected matches, 4 combinations a Tremble and 3 doubles) if the punter selects one banker he will reduce the combinations by one. 

In order for you to win, you must enter your desired bet. Note that minimum bets can vary per betting provider (minimum bet can range from €0.01 to €1).

Some providers passes on the betting tax to the customer. Even in this case, you will see the possible net profit with directly deducted deduction of the tax. Once you have selected everything, you can press the “place bet” button in the betslip and that’s it. You can wait the outcome. 

Attention: Once placed bets can not usually change them.

Cashout: How to sell your betslip

Is it possible to sell your betslip? Yes, under certain conditions. For example, if you have 3 out of 5 correct bets in a combo bet, you can sell the betslip to before the last game starts. This mechanic is different from Bookie to Bookie. They call it usually Cashout but on some occasions, you will find it also as Early Payout.

Betting slip lost – what now?

If you lost a paper slip from a bookmaker, only an honest finder will help you. After all, you are only entitled to a prize if you can show your bet slip in the local branch. This problem does not exist with online bets, because in your virtual account all placed bets are saved and secured. If the betslip is lost – in the sense of false tips – money is usually gone.

Note though that various top bookmakers can offer some cashback occasionally to reduce your loss. 

What is the highest winning betslip?

Especially in social networks are sometimes times betting tickets posted with high sums of money, but not all are real. Often, bookies or other betting sites use them as a lure for new customers.

The highest known & officially recognized winning betslip in Europe comes from Greece. In 2012, a player netted with a 16-combo bet a total of €435,000.

How high may a betslip be?

That depends on the profit limit of the provider. Some can give up to €25.000 per betslip. Others go higher to €50.000 per bet, or even as high as €5 million! 

Tip: Check the respective limits in our provider table.

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