KO: Sportsbook Training

Welcome to the Knockout gaming sportsbook training!

In this course, we will cover all aspects of the sportsbook betting and cover all the bases for what you need to know when dealing with our players.

It may seem a little daunting at first, but by the end, you will have everything you need to deliver a truly knockout service to players from all over the world.

No matter the market, the principals are the same for all countries in regards to betting and we will cover all the most popular bet types, rules, regulations, exceptions and terminology in this training course! 

On your marks, set... GO!

Sportsbook Introduction

What is "Sportsbook"


What is sportsbook?

Let’s begin with covering what Sportsbook is. The term “sportsbook” is basically an umbrella which covers all aspects of sports bets on a range of competitive games.

Some sports this can include (but by no means limited to): -

  • Football
  • Horse Racing
  • Golf
  • Basketball
  • E-Sports (betting on player vs player in games like Hearthstone, Rainbow 6 or DOTA)
  • Political betting
  • TV Betting (Big brother winner, X-Factor etc)
  • Olympics/athletics
  • Any other sport

You don’t need to be an expert on every single one of these sports (although that would help!), but it’s a good idea to grab at least some of the basic rules and exceptions to deal with different types of queries that you will face on a day to day basis. There are some sports that are more popular in different regions across the world so depending on which market you are working on, you will find that through practice and repetition, you’ll acquire the knowledge needed through repetition.

For example, in UK, football and horse racing are very popular. In Czech Republic, Ice Hockey is very popular. In Brazil it might be soccer or UFC.

You should now go study this section of confluence to become familiar with some of the terminology used in sports.


Bet Types @Knockout Gaming

Singles

This is as simple as it sounds. Players are betting one possible outcome/event. The most common form of this bet is a “Win/To-Win” bet which is betting on the outright winner.


Each Way

Each Way

An “Each-Way” bet is quite common in things like horse racing. If you bet on a horse “Each-Way” you are betting on it being placed and usually costs double your stake. The amount of winning selections in each race usually depends on how many horses are in the race. 

For example, in a 6-horse race, the player can only get a win on 1st, 2nd or 3rd. Each bookmaker creates its own rules around this (Familiarize with the competition!). 

The bet is composed of 2 elements so let’s break it down into a scenario...


Each Way Scenario

Each Way Scenario...

Meet Jane... She has £20 to place on a horse race and thinks that the horse “Daisy Dukes” will do well. 

Daisy has odds of 3-1.  Jane isn’t certain it will win so she places £10 each way on Daisy. 

  • The first £10 is placed on the outcome of Daisy becoming a winner. 
  • The other £10 goes into the outcome of her being placed
  • If she is placed either 1st, 2nd or 3rd she will get the price of 3-1, but divided into 3. (Or relevant number of places).

Q. How much would Jane get back if Daisy comes 2nd?

  • £33
  • £20.
  • £40
  • £10
  • Nothing. She lost all her money

Q. How much would Jane get back if Daisy comes 1st?

  • £60
  • £50
  • £10
  • Nothing. It's a losing bet.
  • £200

Accumulator Bets

Accumulator Bets

There are all kinds of accumulator bets but we will just go into a small selection of the most popular in this course.

Doubles/Trebles etc.

2/3 selections over 2 events. 

I.E, Smokey Joe to win in 3:30 at Chepstow AND Red Rum to win 4:00 at Naas is a good example of a “Double”

Forecasts


Nope! It has nothing to do with the weather. But whilst you enjoy this lovely picture of a weather forecast from Ireland....keep the following in mind for sports betting:

  • Forecast bet is when you are trying to predict the outcome of 1st and 2nd place in the correct order. 
  • Tri-cast is when you are trying to predict the first 3 outcomes in the correct order.
  • Twist forecast - Is the term used to cover either eventuality of the forecast coming in. 


Heinz 57, Yankees and more

Heinz 57

The heinz is a 6-selection wager consisting of 57 bets: 15 doubles, 20 trebles, 15 four-folds, 6 five-folds and a 1 six-fold accumulator. 

Named after the 57 varieties Heinz company slogan, this 57-bet wager is a full cover bet that combines every winning combination (permeation) of the 6 selections into a single wager.

Yankee

The yankee is a 4-selection wager consisting of 11 bets: 6 doubles, 4 trebles and a four-fold accumulator. 

The Yankee is rumored to be named after an American soldier that placed a small bet in the UK and due to the multiple roll-over mechanics at work won back hundreds of thousands.

"xx"-fold

These are the same as doubles or trebles in the way they work, but the XX is the number of selections you’re making. For example, “12 Fold” is 12 selections etc

Typical Sports Queries

My event was cancelled. Now what?


In such an occurrence where an event is postponed, provided the event is scheduled for within no more than 72 hours, the bet will remain valid and will automatically stand at this time.

In such an occurrence where an event is cancelled the bet is voided and the funds would be returned to the player’s wallet.


A selection in my accumulator was cancelled.


If this happens, the bet will be voided and the funds returned to the player’s wallet. An example of a voided bet under these circumstances are if a horse is withdrawn from a race before it sets off which deems the horse as a “Non-Runner”. 

If this is part of an accumulator bet, for example a treble, the bet downgrades to a double. Or a treble with the cancelled selection being equal to Zero. 


You settled my bet wrong

Generally, this doesn’t happen often, but if it does, it applies to everyone who bet on this event. Therefore, it’s of utmost importance that errors like this are diagnosed and rectified promptly to avoid a surge in contacts from our player. 

Follow the process if you ever get these queries.


I placed a bet on a player but I didn't get my winnings. Why?

If you do get this type of query, usually it will mean that the player didn’t start the match at the first second of kick off – i.e. a substitute. The terms and conditions of this occurrence are in the site. Follow the process for these types of query.


Why haven't you accepted my bet?

A bet is usually referred if we suspect/detect an unusual pattern of gambling.

For example, Jeff usually places bets of £10 once a week on his favorite team but this week he has placed £10,000 on them. 

It just isn’t normal...

In these circumstances, we need to investigate the risk involved in placing the bet for both us and for the player. 

  • Did they press it by accident? 
  • Is there something more sinister like some form of match fixing that the player knows about?

Whichever way it’s referred, the sports team in Malta will make the call on if we can/should accept the bet that Jeff placed.

Follow the process you get this query.