What is a ‘Group Bet’?
A group bet is any bet that covers multiple outcomes, usually under a single wager but sometimes as part of a series of bets. The term appears most often in sports betting, in roulette and in Keno, though there are other games which permit group bets. Occasionally, the term might refer to the wagers made by a betting syndicate – similar to pool bets, where multiple people pay in to increase the stake and potential returns.
‘Group Bet’ Explained
If a gambler refers to a group bet, they might be talking about a bet made in conjunction with a group of people. Lottery syndicates are a great example of group bets – players put their stake into a pool, which is used to buy more lines and therefore increase the chance of winning. Any prize is split equally between all members. Group bet can also describe a pool bet, where players put a personal stake into a shared pt and select an outcome. Winning selections are paid equally from the pot.
More usually, a group bet refers to a series of different bets which are made on the same ticket or as part of the same wager. For example, roulette allows group bets as well as single bets. Players can place one or more chips on a number and receive a 35/1 payout if that number comes in. They can also bet on a group of numbers, for example on odds or on reds, or on the split between two or more numbers on the grid. The odds of a win and the subsequent payout is adjusted according to the size of the group.
In Keno, group bets are bets on more than one number on the ticket. Unlike a group bet in roulette, each Keno group is a separate bet – though the player can request both ways or all ways to cover every possible version of the group. In sports betting, a group bet is a bet one two or more competitors to win. Accumulators, where players pick several results over a number of fixtures and rely on each bet winning to get the final payout, are a form of group bet.