Betting slips are a straightforward way to place your bets at any bookmaker, whether you're in a high street shop, or using an online platform. Knowing how to fill one out correctly can potentially make the process smoother and more enjoyable.
In this Wizard Slots blog post, we'll walk you through the steps to write a betting slip out, ensuring you understand all the key details required. We'll cover everything from selecting your event and wager, to checking your odds and potential returns. Read on to gain the confidence you need to complete a betting slip properly.
What Is a Bet Slip?
A bet slip is a form or digital interface that records all the details of your wager. It's used both in physical betting shops and online platforms.
In a physical shop, a bet slip is a piece of paper you fill out with information about your bet such as the event, type of bet, odds, and stake.
Online, the bet slip is a virtual form that automatically updates as you choose your selections. It shows your potential return based on the stake and odds chosen.
Whether on paper or online, the bet slip confirms your wager and its conditions.
Bet Slip Terms Explained
Selection
A selection is the specific event or outcome you are betting on. This could be a team to win a match, a horse to place first, or a player to score a goal.
Stake
The stake is the amount of money you wish to bet. It’s essential to gamble responsibly and only stake what you can afford to lose.
Odds
Odds represent the likelihood of an event happening and determine your potential return. They can be shown as fractions (e.g., 5/1) or decimals (e.g., 6.00).
Single Bet
A single bet involves only one selection. If your selection is correct, you win. It's the simplest type of bet.
Accumulator Bet
An accumulator bet combines multiple selections into one bet. All selections must win for the accumulator to pay out.
Each Way Bet
An each way bet consists of two parts: a bet on your selection to win and a bet for it to place (e.g., finish in the top three). It effectively doubles your stake.
Void
A void bet means the bet is cancelled, and your stake is usually returned. This can happen if an event is called off, or if your selection doesn't participate.
Cash Out
Cash out gives you the option to settle your bet before the event finishes. This allows you to secure a return, or cut your losses based on the current situation.
Handicap Bet
In a handicap bet, one selection is given an advantage or disadvantage to level the playing field. This is common in sports like football and horse racing.
Over/Under Bet
An over/under bet involves trying to predict whether a specific statistic (like total goals in a match) will be over or under a set number.
Parlay Bet
A parlay bet is another term for an accumulator bet. It combines multiple selections, and all must win for the parlay to be successful.
Banker Bet
A banker bet is a selection within an accumulator that you consider almost certain to win. All other selections must still win for the accumulator to payout.
Stake Return
Your stake return is the total amount you get back if your bet wins. It includes both your winnings and the original stake.
Dead Heat
A dead heat occurs when two or more selections finish exactly even. In such cases, the payout is usually divided based on the number of winners.
Trixie
A Trixie bet includes four bets based on three selections: three doubles and one treble. At least two selections must be successful for a return.
How Do You Write Out a Betting Slip?
Writing out a betting slip can be easy if you know what to include. Below, we'll guide you through different types of bets, showing you how to fill out each one correctly.
How To Write a Horse Betting Slip
- Choose Your Race: Write the time and location of the race.
- Select Your Horse: Note the name or number of your chosen horse.
- Bet Type: Mark whether it's a win, place, or each-way bet.
- Stake: Indicate how much you are staking for the bet.
- Odds: Include the odds if they're fixed.
How To Write a Lucky 15 Betting Slip
- Choose Your Selections: Pick four different events or outcomes.
- Bet Type: Write "Lucky 15".
- Individual Bets: Note each of the four selections.
- Stakes: Calculate and write the total stake (usually 15 times your unit stake).
- Returns: No need to fill this out; it’s calculated based on the potential results.
How To Write a Football Accumulator Betting Slip
- Select Matches: Choose at least four football matches.
- Bet Type: Specify "Accumulator" or "Acca".
- Selections: Write down your chosen teams and their outcomes (e.g. win, draw).
- Stake: Indicate your total stake amount.
- Odds: The system will usually calculate combined odds for you.
How To Write a Treble Betting Slip
- Three Selections: Choose three different events.
- Bet Type: Write "Treble".
- Details: Note each selection and its expected outcome.
- Stake: Specify how much money you wish to bet.
- Check: Confirm all details are correct before placing the bet.
How To Write a Reverse Forecast Betting Slip
- Event: Choose the race or event.
- Two Selections: Pick two outcomes to finish in the top two.
- Bet Type: Write "Reverse Forecast".
- Specifics: Note the numbers or names of your chosen selections.
- Stake: Indicate the total stake for this bet.
Taking the time to fill out your betting slip accurately can help ensure a smooth betting experience. Always double-check your entries before placing your bet.
Betting Slip FAQs
What Does SP Mean on a Betting Slip?
SP stands for "Starting Price." When you opt for SP on your betting slip, your bet uses the odds available when the event starts. It's commonly used in horse racing.
How Long is a Betting Slip Valid For?
A betting slip is usually valid for the specific event it's placed on. In the UK, most bookmakers honour winning slips for up to three months after the event. However, it's a good idea to check with your bookmaker.
What Happens if You Lose Your Betting Slip?
Losing a physical betting slip can be a problem, as it's proof of your bet. Without it, you might not be able to claim your potential winnings. Online bets are recorded automatically, so there's no slip to lose. If you do misplace a physical slip, contact the bookmaker immediately with any details you have.