Sports betting in Ireland benefits from a progressive regulatory framework, which has underpinned a lucrative marketplace in which punters wagered £9.8 billion as recently as 2019.
The market is also packed with both domestic and international operators, with betting brands from the UK and continental Europe competing aggressively for a relatively small market share.
You can find a list of competing gambling brands in Ireland at www.betinireland.ie, but in this post, we've prepared a brief sports betting guide for newcomers to the marketplace.
1) Check Out the Return-to-Player (RTP) Rate
When choosing specific slot games, players often review the published return-to-player (RTP) rate, which dictates precisely how much they can expect to recoup on average for every £1 wagered.However, a similar metric is used to determine the average payout available across an entire online sportsbook, so you can identify which sites are the most rewarding from the perspective of sports betting.
For example, the popular sportsbook Betiton Sport offers an average payout rate of 93%, which means that you can expect to bank approximately £0.93 for every £1 wagered online. This is a relatively competitive payout ratio, especially when you consider the diverse range of betting markets that are available across the site.
So, we'd definitely recommend comparing each operator through an independent site, ideally one that combines comprehensive reviews with real-user ratings to help you make an informed decision.
2) Consider the Welcome Bonuses on Offer
The welcome bonus can have a significant impact on your choice of sportsbook, especially as the market becomes increasingly crowded and operators are forced to compete for a dwindling market shares.You'll also find that sportsbooks tailor their offers in line with major sporting events, with this borne out during the recent Euro 2020 tournament.
Throughout this month-long extravaganza of football, operators built their welcome bonuses around various Euro 2020 markets, while utilising cashback offers and first-bet refunds up to a fixed value. This type of time sensitive promotion not only enables operators to make the most of any leads generated in real-time, but it also appeals to a broader range of punters (including those who are risk-averse in nature).
It's also important to review the wagering requirements before choosing a sportsbook with which to wager, as they'll determine the amount of cash that you'll have to playthrough before withdrawing your winnings.
Such requirements are usually expressed as ratios and applied directly to the value of the bonus. So, if a 10x wagering requirement is applied to a bonus worth £20, you'll have to play through £200 before you can access the funds in your account.
Given that wagering requirements must be met within a fixed timeframe, we'd recommend calculating how much you'll have to play through as part of a particular offer to ensure that this is compatible with your bankroll.
Otherwise, you may be compelled to wager more than you're comfortable with simply in order to meet the terms of a welcome bonus, which may lead to irresponsible gambling and a largely negative betting experience.
3) Choose from a Full Range of Betting Markets
Regardless of which sport you bet on, you can now access a range of ante-post and in-play betting markets.You'll also find a staggering selection of options within these markets, from outright betting on specific events to the real-time occurrences during individual matches and tournaments.
Not all of these betting markets have been created equal, either, so it's important to review the entire range at your disposal to ensure that you make the absolute most of your bankroll.
For example, let's say that you wanted to back the mighty Liverpool to beat newly-promoted Norwich City in their opening Premier League fixture on August 14th. The Reds are 1/3 to win here, with such short odds offering minimal value to punters who want to wager with relatively small amounts of cash.
However, you could utilise handicap betting to lengthen the odds in play, by effectively placing a wager where Liverpool start with a one goal disadvantage (-1). In practical terms, this means that the Reds will have to win the match by two clear goals for the bet to come in, creating a scenario where you can increase your chances of winning without overly compromising the wager's value proposition.
Of course, increasing the handicap will lengthen the odds further, increasing your exposure to risk in the process (despite the fact that Liverpool thumped Norwich 4-1 at Anfield when the Canaries last kicked-off an EPL campaign).
