Novelty betting has really taken off in recent years. Pretty much every bookmaker now will offer you odds on different novelty and entertainment markets, but some sportsbooks take things to another level by offering some very obscure markets.
We will cover all you need to know about novelty betting below, but some of the more popular markets include things such as the Triple J Hottest 100, Elections, Financials, and betting on television programs like The Voice, Big Brother and The Block to name a few.
If you plan on betting on any novelty markets then we highly recommend having an account with Sportsbet.com.au as they have been one of the market leaders for many years now for offering all the leading entertainment betting options, but also the weird and wacky as well.
Types of Novelty Markets
You will find that bookies will segregate their novelty markets within their menu within different criteria’s such as entertainment, politics, music, etc. Listed below are all the different novelty markets you will be able to bet on.
Betting on current affairs covers such things in the media. For example a popular event is the Nobel Peace Prize where you can bet on who you think will win. Another popular one is betting on the next Pope which believe it or not generates plenty of interest. Keep an eye on these markets as new ones will appear all the time depending on what is happening in the news.
Perhaps the most popular type of novelty betting, with entertainment you are basically betting on reality television winners for shows such as The Bachelor, Dancing With The Stars, The Apprentice, The Voice, The Biggest Loser and many, many more. You can also bet on TV Ratings and at time of writing you could even bet on which character will be first to die on The Walking Dead!
Financials does not sound like the most exciting bet type, but there is money to be made here for sure. The most popular bet type here is betting on whether or not there will be an interest rate rise, or betting on the ASX500. You can even bet on things such as which will be the most profitable bank out of the Commonwealth, Westpac, ANZ and NAB for the year.
A very popular bet type which covers the movie industry in Hollywood. Betting on the Academy Awards on things such as Best Picture, Best Actor/Actress, Best Supporting Actor/Actress etc is huge money. You can also bet on the Golden Globes, the Logie Awards as well as things such as who will be the next James Bond. These markets get plenty of coverage in the media.
Betting on music markets has been popular for a long time now. The Triple J Hottest 100 is probably the most popular market punters bet on as it garners a huge amount of attention, but you can also bet on the Grammys and the ARIA Charts. There are even markets on who will be the first member of One Direction to quit, among of quirky and out there music betting options.
These are the more out there bets that don’t come under a specific category. Things such as who will the next Monarch be, or what will be the gender of the next Royal baby, or what will be the name of that baby. You can even bet on crazy things such as what country will the first UFO visit, who will Shane Warne’s next girlfriend be, or will Candy Crush Saga reach more than 1 billion users!
Betting on politics is not just the biggest novelty market to bet on, it is in fact one of the biggest markets to bet on that bookies offer. The Australian Federal Election in 2013 generated an astronomical amount of betting turnover and it is only expected to get bigger over the years. You can bet on state elections as well as many overseas politics markets as well.
You will find plenty of sports novelties throughout the year. Betting on the BBC Sports Personality of the Year generates plenty of attention, while things will pop up during the year that will allow the bookies to form a novelty market. Things like will Queensland win ten straight Origins or will Richmond finish ninth on the ladder in the AFL are more recent ones we have seen.
How to bet on Novelty Markets
Each bookmaker will offer different types of novelty markets, some more than others, but they will be presented differently from bookmaker to bookmaker.
You will often find that the more obscure markets will have a maximum bet amount. This is so that the bookie can cover themselves in the case someone in the know is betting, or so that they don’t face a massive payout should the unexpected happen.