How Betting Markets Are Settled

Betting markets have rules that must be met before a bet can be settled as a win or a loss – we provide insight into the most common settlement rules.

What Does Bet Settlement Mean?

Bet settlement refers to the process a betting site undertakes to evaluate a completed betting market or sporting event. The process involves verifying the official result and grading a bet as a winner, loser or void. After the process has been completed, the betting site will update the punter’s account based on the result of the bet. 

How Standard Match Bets Are Settled

Standard match bets include either three-way or two-way markets. Most standard bets settle within 30 minutes after the sporting event or betting market has concluded. Common standard match bet settlement statuses include:

• Won: Credit punters the winnings and stake for a correct betslip.
• Lost: The stake is retained by the betting site for a losing betslip.
• Void: The event was cancelled, postponed or abandoned, resulting in a refund of the stake.
• Cashed Out: The punter closed the bet early, resulting in the specific cashed-out amount being credited to their account.

How Over/Under Bets Are Settled

Over/Under or Totals bets are settled by adding up the combined number of goals, tries, points, runs, cards or corners before comparing the sum to the benchmark provided by the betting site. If the combined total exceeds the benchmark, the Over bet is settled as a winner. However, if it is lower, the Under bet is settled as the winner. To avoid ties, bookmakers will use half-point decimals, e.g., 1.5, 32.5, 80.5, etc. 

How Accumulator Bets Are Settled

Accumulator bets, or accas, offer higher odds than standard bets by multiplying the odds of each leg and adding the multi-leg boost. The caveat is that each individual leg of the acca must be won for the bet to payout. 

What Happens When All Selections Win

If all selections on an acca win, the bet will be settled as a win. After the final leg has been won, the winnings from the bet will be paid out to your account.

What Happens When One Selection Loses

If one selection of an acca loses, the entire acca is settled as a loss, and the bookmaker will retain the stake. However, some betting sites in Mzansi offer acca promotions that will return your stake as a free bet if only the final leg of a ten-fold acca loses.

What Happens When One Selection is Void

If a game in your acca is postponed or abandoned, that leg will be voided. Additionally, if a bet results in a push, that leg of your acca will also be voided. Voided legs will be completely removed from betslips, and the odds for your betslip will be recalculated. The betting site will then settle the remaining legs at the original odds to determine if your bet is a winner or loser. 

How Reduced Odds Affect the Final Payout

When a leg in your acca is voided, the leg is removed from your betslip, and your final odds are recalculated. A voided leg will reduce the final payout and your winnings, as the final odds will be much lower.

What Happens When a Match is Postponed

If a match is postponed by more than 24-48 hours, the bet will be voided. However, some betting sites will allow a bet to remain active if the event occurs within 48 hours. If a bet is voided, your stake will be returned to you or will be removed from your acca.

What Happens When a Match is Abandoned

If a match is abandoned, every bet taken on the match will be voided, and your stake will be returned to you. Voided legs that occur will be removed from the final settlement calculations.

Do Extra-Time and Penalties Count

Most betting sites handle overtime and extra-time differently, depending on the sporting event. Football is the most popular sport in South Africa and does not include extra time and penalties in most betting markets. Most sporting events in America, such as the NFL, NBA, NHL, and MLB, include overtime for betting purposes.

How Player Markets Are Settled

Player markets are settled based on official statistics provided by accredited data suppliers and governing bodies, such as Opta. Player props betting markets are settled after regulation time and works the same as Over/Under markets.

How Live Betting Markets Are Settled

Live betting markets are settled based on official match data and real-time event verification. As soon as the specific market condition is mathematically or officially decided, your bet will be settled and your account will be credited with your winnings.

What is a Void Bet?

A void bet is a wager that has been placed and is cancelled by the betting site, resulting in a full refund of the stake or removal of an acca leg as if the bet was never placed.

Common Settlement Issues Bettors Should Understand

Bet settlement is the final process after an official outcome has been confirmed. Common settlement issues that can impact your account balance or delay payouts include:

• Match Length: Most standard match result and prop markets use regulation time (90 minutes + added time) to settle bets. Wagers such as the team to qualify will use extra time and penalties to decide the winner.
• Voided Bets: Postponed and abandoned matches will void your bets which will either return your stake (single bets) or remove legs from accas and diminish odds and payouts.
• Dead Heat: If at the end of an outright bet, if more than two teams or players are tied, dead heat rules will apply, which will split your stake based on the number of tied participants.
• Data Clarifications: Prop markets rely on official data providers. Misreported stats or glitches can cause bets to be incorrectly settled, delaying payouts.

Bet Settlement FAQs

Q: What does it mean when a bet is settled?

A: A settled bet indicates that an official result of a sporting event has been confirmed, and your bookie has processed and closed the wager as either a win, a loss or voided.

Q: What happens if a football match is postponed?

A: If a football match is postponed for more than 48 hours, the bet will be voided, and your stake will be refunded to you for single bets. Accas will remove the leg from the bet.

Q: Does extra time count in football bets?

A: Extra time does not count for most football markets. It only counts for the team to qualify for the market.

Q: What happens if one selection in an accumulator is void?

A: If a selection in your acca is voided, it will be removed from the acca, reducing the final odds and possible payouts.

Vinolin Naidoo

Writer/Betting Tipster

I have been in the iGaming industry for a decade and am an avid sports bettor and fan. I have expanded my betting knowledge to create articles on the iGaming industry focusing on online casino content and sports betting analysis for several regions, including South Africa. I cover various sports, including Soccer, Cricket and Horse Racing. All my predictions, tips and insights are thoroughly researched and I aim to help fellow punters in beating the bookies!