The word ‘stake’ can mean plenty of things in the betting world. It’s hard to differentiate between all the different meanings, and it can be easy to lump all the different variants of stake into the one meaning – and this page is here to clear that confusion up
The truth is, the stake meaning in betting is fairly simple, no matter how it is used. We want to explain exactly what it means it every context, though, so that there is no confusion whatsoever. We’ll be talking about all things staking, so you’ll know everything about making a stake inside out! Let’s get right into it.
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[cta id=3429 type=list]What is the Stake Meaning In Betting?
We find that many novice bettors confuse a wager with a stake. It’s an easy mistake to make if you’re brand new to the betting world – in theory, they seem like one and the same. However, there is a key distinction between the two.
- A Wager is the act of betting itself. When you place a wager, you are risking your money against someone elses, for the reward of winning more money
- A Stake refers to the amount of money placed on a wager by a bettor
So, in simplified terms, the wager is the bet, and the stake is the amount of the bet. Of course, the term stake is used in many other contexts in betting, as we mentioned in our introduction. The act of staking means the act of betting, and ‘stake’ is also a term that is liberally used in horse racing.
‘Stake’ in horse racing can refer to a prize, or it can refer to a prize pool where the owners of the horses in the race contribute bets on their horses.
We know, it can all get a little confusing, right? Well, in this review, we’ll focus on stake purely as a betting amount, and we’ll try to stay away from horse racing for now! That is a review for a different time.
Deciding on a Stake Size
Now you know the stake meaning in betting, we can talk about the process of deciding the size of your stake when you’re betting. Of course, there is no one size fits all for this scenario. Every bet is different, and every bet depends on a number of different circumstances. These circumstances include:
- Budget
- Confidence
- Odds
You may be wondering, what do all of these points mean? Well, we’re going to break that down note for note.
Budget
The most important factor to consider when deciding your stake is your budget. Just ask yourself one question before you place the wager: how much can you afford to lose? That is the major principle in sports betting we abide by. Never bet more than you can afford.
- You should always have a budget in place, that you only allocate towards sports betting.
- You should also place limits on yourself. If you’re using certain sportsbooks, they have self-limits you can impose on yourself. This includes daily limits, weekly limits, and monthly limits. These limits will protect your financial safety, and ensure you never bet more than you can afford
The smart way to think about your bets is to consider both the possibility of a win and a loss in the case of this wager. Will the loss financially cripple you?
In that case, it will be better to significantly lower your stake. Try to find a happy balance between a stake you can afford, and a stake that is worth your while to wager – this is true whether you are playing with fiat funds or at crypto betting sites.
Confidence
This may seem like a strange one, but ask yourself: how confident are you in the wager you just placed at the sports or esports betting site? No, we’re not talking about a strong ‘feeling’, or a ‘gut instinct’ that you believe in – we are talking about tangible confidence.
Are you familiar with the sport you’re betting on? Do you know the stats of both teams/players you’re betting on? Do you know who is in form and who’s not? Are you following weather reports that could potentially influence the game? What about the referee?
These are all essential questions that you should ask yourself before you decide on your stake.
Research is important, and the ability to learn about the game you are betting on makes a huge difference when placing a bet. If you have done all of your research, and you are completely confident in your decision, then we absolutely recommend you to do it.
Raise your stake, and place a higher bet. Within reason, of course. Sometimes, you have to take risks, and if you’re that confident in your bet, then you should absolutely go for it. Just be sure to keep your budget in mind as well at all times.
Odds
Finally, the last factor you should consider before deciding on your stake is the odds you’re wagering on. As a novice bettor, your instincts may be to jump on high odds. After all, the profit will be amazing, and you won’t have to bet as much. Right?
Well, not exactly. You have to remember why the odds are high in the first place. The likelihood is, the odds are unusually high for that team or player because it is highly unlikely that they will win in the first place. So, in many cases, the chances of that bet going through are low.
But, if you’re always placing bets on strong favourites, you won’t have much of a winnings wallet. We understand the frustration of it all, but there is a happy medium. It’s just that: find the happy medium. Find competitive games, where the odds are a little higher but closer together. Let’s say a game between Liverpool and Arsenal.
The odds here might be 2.5 vs 3.2. This is because both teams are so strong, so the odds won’t be overwhelming favourite, and they’re a little enhanced as a result. The more even the match up, the more likely you are to win on the slightly higher odds. It can also be useful to understand exposure meaning in betting.
Do you get your Stake back?
It’s a question on most new bettors’ mind. If my bet is a winning one, do I get my stake back? Most sportsbooks will aware you your stake back with a winning bet. Unless it is explicitly stated that your stake cannot be returned on a win, you will get your stake back along with the winning wager. The only time you might see your original stake get refused is during bonus offers or other types of promotions, where the initial stake is required in order to access the bonus (matched deposit bonus, risk free bets, etc.). You may also wish to read up on the double chance meaning in betting.
The Stake Meaning in Betting Is Simpler Than It Seems
In short, the stake meaning in betting is actually simple to comprehend. Just think of it as an amount, rather than the wager itself. It’s the amount you are staking into the wager you are making.
We recommend you keep all those factors in mind when you are betting. It’s important to note that your budget, the odds and your belief in the bet should heavily influence the amount you wish to stake. Never stake on a feeling, or because you have the money to spare. Try strategise for every bet you have, and make the amount you stake matter.
Feeling ready to stake yourself? Why not choose one of the recommended betting sites on this page to get started?