What Is Group Betting?
Group Betting is the next big thing in sports betting. What is Group Betting and why is it becoming so popular. We explain why in our guide to Group Betting.
What Is Skybet’s New Group Betting Feature?
Group betting is nothing new to the world of gambling. People have been betting with friends and colleagues for decades often forming syndicates to enter lotteries. .
Traditional 'Group Betting'
A lottery syndicate is perhaps the most common example of group betting. A party of punters will band together, each participating in a draw and therefore increasing the likelihood of winning.
Group betting comes at a cost as split winnings will, of course, reduce the amount each player can potentially earn. This form of group betting can also be implemented in roulette and keno.
Another form of group betting is the act of an individual user betting on a group. This is more common in sports betting and refers to the backing of a smaller sub-section in a wider field. For example, a punter betting on a golf tournament could choose five players from the larger field and back them to go all the way. If one of the five players comes out on top then the group bet will be a success.
Introducing Skybet Group Betting
Skybet Group Betting works in a different way to this. Launched by the company in July 2018, Skybet Group Betting will work in very much the same way as the classic football accumulator. In an accumulator, a bettor will typically back two or more results and combine them into a single group bet.
In Skybet Group Betting, users can band together into a team of between two and 50 members. Each user can then make a selection to add to the group bet before moving it to their personal Skybet account.
After that, each member of the group bets as much as they like in a personal stake which is where it differs from a syndicate or any other form of group betting. Each Skybet user can join up to five separate groups but it’s not a problem if one of the group’s members fails to make a selection, the final bet will just be one selection shorter.
How to place a Group Bet
The step-by-step process is simple.
Pick a chairperson and create a group on Skybet Group Betting, either on the Skybet app or Skybet.com.
The chairperson can invite members to join – through social media, text or by sending out the group’s unique PIN.
The party then creates the bet with each member able to add a selection to the group betting slip.
Once finalised, the group bet can be added to each member’s bet slip where it can be customised before placing stakes.
Example Of Group Betting
As an example, a party of four friends band together in the name of group betting. They can create a group with Skybet and make their selections for one of the group bets.
They choose Arsenal, Manchester United, West Ham United and Wigan Athletic to all win their matches for the day. This four-fold accumulator can then be sent to each member’s personal Skybet account where each member of the group bets as much money as they like.
As an example, one friend may not think that West Ham United will win and can remove that selection from their final bet if desired.
The Future Of Group Betting
It’s an attempt from Skybet to formalise a practice which bettors have been employing for some time. Group betting is nothing new but with this feature, friends can band together with a common purpose.
Skybet Group Betting also adds a social element to the feature which simplifies something which many bettors already do. It’s an innovative idea so don’t be surprised if more bookmakers start offering their own form of group bets very soon.