Sports Betting Just Got a Tentacle Up: Uncovering the Octopus in Football Betting for US Fans
Football betting is becoming increasingly popular in the US in recent years and for sports bettors, there is a new type of wager that is turning heads and possibly revolutionizing the way sports bettors approach the game. That wager is known as the octopus, and it is quickly making its presence felt in the US betting market.
What Is An Octopus Bet?
An octopus is a form of parlay bet. In the world of sports betting, parlay bets are single wagers that are formed by combining multiple wagers into one bet. An octopus is a parlay bet where the number of combined wagers is 8.
How Does an Octopus Work?
The way an octopus works is based on the result of a football match. If the match is a draw, half of the bet is declared a winner and the other half of the bet is declared a loss. If the match produces a winner, the parlay pays out. However, if the match produces a draw, the bet is split into two halves, one for the pre-match and one for the in-play, and a bonus multiplier is applied to each half.
Advantages of an Octopus Bet
This form of wager provides several advantages over traditional parlays. It is easier to win with an octopus than a traditional parlay, and the returns on an octopus bet are much greater than a traditional parlay.
- Easier to win: An octopus bet requires only two correct picks to be declared a winner, instead of three for a traditional parlay.
- Higher returns: Octopus bets provide a much higher return than traditional parlays thanks to the bonus multiplier which can be as high as 10 times the original stake.
- Lower risk: An octopus bet has a lower risk than a traditional parlay as it is split into two and the bonus multipliers can be used to significantly reduce losses.
Disadvantages of an Octopus Bet
Despite the advantages of this type of wager, there are also some potential downsides to consider.
- More expensive: An octopus bet can be more expensive than a traditional parlay due to the extra bet required.
- Lower chances of winning: The chances of winning an octopus bet are lower than the chances of winning a traditional parlay.
- Harder to predict: Because of the two halves to an octopus bet, it can be harder to predict the outcome of the wager.
The octopus is an exciting new form of sports betting that is quickly becoming popular in the US. It provides several advantages over traditional parlays and can be a great way to increase winnings in football betting. However, it can be more complicated and expensive than a traditional parlay and can be harder to predict accurately. Regardless, it should definitely be considered an option for any serious sports bettor.
What is the legality of sports betting in the United States?
The legality of sports betting in the United States varies by state. Currently, the States of Colorado, Delaware, Illinois, Indiana, Iowa, North Carolina, New Jersey, New Mexico, Pennsylvania, Rhode Island, Tennessee, Virginia, and West Virginia have all passed laws that allow for sports betting. In May 2018, the Supreme Court of the United States declared the Professional and Amateur Sports Protection Act of 1992 unconstitutional, thereby allowing sports betting back within those particular states, but other states may require a voter referendum and/or the passage of specific laws to legalize the activity. It is important to note that these laws are not uniform across the country and each state has its own regulatory structure for overseeing sports betting. It is strongly advised that anyone considering engaging in sports betting research their local laws before doing so.