How Does Eurovision Betting Work?
Betting on Eurovision could not be easier. You do not need to have any experience of gambling online nor do you need to know anything about music. Instead, you merely need to choose the country that you think has the best chance of winning, and then sit back and enjoy the show!
Eurovision Winner Odds
The most popular bet type in the Eurovision gambling space is that of the outright winner. As the name suggests, you are betting on the country that you think will amass the greatest share of the votes and thus – is crowned the winner of Eurovision 2020.
At the time of writing, Bulgaria is the bookies favourite to win the content outright. You can get a top price of 5.5 at the likes of William Hill and 888 Sport, meaning a £10 bet would yield £55.
Let’s take a look at some other notable picks – as per current prices.
- Germany: 25.0
- Norway: 27:0
- Israel: 101.0
- Sweden: 51.0
- Lithuania: 7.0
- UK: 210.0
As you can see from the above, Eurovision betting odds can vary quite considerably. Furthermore, it comes as no surprise to see the UK as rank outsider again, especially considering its dismal performance in recent years!
If you don’t fancy your chances of picking a winner outright, why not consider a place bet? This is where you need your selection to finish in the top three. In terms of the odds, you usually get 1/4 of the outright odds, although this can vary from bookie-to-bookie.
Moreover, we at WinnerSports.co.uk often find that online Eurovision bookies offer additional Eurovision promotions closer to the time. As such, you might be able to get your place bet paid out at 1/3 of the odds.
Let’s look at a quick example of how Eurovision betting odds work in the case of a place bet.
- You’re feeling patriotic, so you place a £50 place bet on the UK
- With the UK priced at 200.0 and the bookmaker offering 1/4 of the odds on a top-three finish, you’ll get odds of 67.0
- This means that were the UK to finish first, second, or third – your £50 bet at 67.0 would yield £3,350!
How to Place a Eurovision 2020 Bet
So now that you know what bet types you can place on the Eurovision, we are now going to explain how to get started. As such, we would suggest following the step-by-step guidelines outlined below.
Step 1: Choose an Online Betting Site
First and foremost, you will need to join an online sports betting site to be able to gamble on the Eurovision. The good news is that there are now hundreds of online bookmakers active in the market, so you’ll have no problem finding a site that meets your needs.
With that said, we would suggest making the following considerations prior to opening an account:
- Does the bookmaker offer betting markets on Eurovision?
- If so, are the odds competitive?
- Is the bookmaker regulated by the Gambling Commission?
- What payment methods does the bookmaker support?
- How fast are withdrawals processed?
- Is customer support any good?
Step 2: Open an Account and Verify Identity
Once you have found a suitable bookmaker that offers markets on Eurovision 2020, you will then need to open an account. The process takes a couple of minutes and simply requires some personal information. This includes your full name, home address, date of birth, and contact details. You’ll also need to choose a username and password.
Before depositing funds, it’s well worth going through the mandatory KYC (Know Your Customer) process. This requires you to quickly upload a copy of your passport or driver’s license, as well as a proof of address. If you don’t do this now, you’ll need to do it when you (hopefully) withdraw your Eurovision bet winnings!
Step 3: Deposit Funds
As you will be looking to bet real-world money, you will need to deposit some funds. The specific payment methods available to you will vary from bookie-to-bookie, although this typically includes a debit/credit card (Visa, MasterCard, Maestro), e-wallets (PayPal, Skrill, Neteller), and a local bank transfer.
Some Eurovision bookmakers also support paybymobile, which allows you to deposit funds with your phone credit. Apart from a bank transfer, all deposits are instant, and usually free.
Step 4: Choose Your Eurovision Country(s)
Once you have a fully funded account, you will need to choose which country(s) you think will win, or be placed, in the Eurovision. You should be able to see a long list of sports listed on the left-hand side of the page. If you can’t see Eurovision listed specifically, you might need to click on ‘Special Bets’, ‘TV Bets’, or something similar.
Once you are on the correct Eurovision betting page, you will then see a list that contains all of the countries competing. Each country will have its respective odds next to it. By default, the odds will be displayed in either fractions (3/1, 4/1, etc.) or decimals (4.0, 5.0, etc.). You can change this at any time.
Step 5: Set-Up Your Betting Eurovision Betslip
Once you have chosen which country you think will win or place, you will need to click on it. In doing so, the selection will appear on your virtual betting slip. You now need to enter your total stake, and the potential winnings figure will update accordingly.
For example, let’s say that you enter £100 and you are betting on Belgium to win at 9.0. This means that your potential winnings are £900. Nice!
Once you are happy with your stake size and potential winnings, simply confirm the bet. The funds will then be taken from your available betting balance.
Step 6: Your Eurovision Winnings
If you are fortunate enough to win your Eurovision bet, the funds will be added to your balance within minutes of the contest finishing. You can then withdraw the winnings back to the same funding source that you used to make a deposit. For example, if you deposited with a debit card, you’ll need to withdraw at least the deposit amount back to the same card.