What is a Single Bet? A Simple Explanation to How They Work
Whether you are just starting out, or you simply want to refresh your knowledge when it comes to betting types, we’ll give you the most complete single betting explanation. Learn how to single bet in an online sportsbook and how single bet calculators can help you.
Single Betting Explanation: What is a Single Bet and How Do I Use It?
We will start our single betting explanation with the basics. In the world of sports betting, a single bet is just about the simplest way to place a bet. Namely, as its name suggests, a single bet consists of only one bet. So, you pick an outcome of the match, guess it correctly, and you will earn a profit. It’s just that simple.
Your winnings will be determined on the amount of money you wager and the odds of the market you’ve selected. If your selection wins, your wager will be multiplied by the odds and you will get the amount plus your wager. This means, the higher the odds, the bigger your profit. Sportsbooks generally offer higher odds on the less likely outcome.
To illustrate our single betting explanation, we will give you an illustration. Say you would like to place a £50 on Real Madrid to score at least two goals at odds of 2.5. If you win the bet, you will get a total return of £125, or 50×2.5. Since your wager is included in the payout, your total profit will end up being £75.
Single bets are popular and available on every betting market. Since they are very straightforward and don’t require a lot of strategizing, single bets are perfect for new bettors.
To know on which odds you could place a Single Bet, come check out our selection of UK betting sites !
How to Calculate Winnings
Work out your winnings with our Single Bet Calculator.
What Are Some of the Possible Advantages of placing a Single Bet?
Now we have given you the basic single betting explanation, we will go through some of its main advantages.
Simplicity is the biggest advantage of a single bet. You will know how to single bet even if you have only the basic knowledge of sports betting. Secondly, since the outcome of your bet will depend on only one event, you will have a high chance to get a win. It is also very easy to calculate your returns on a single bet. Additionally, you have the option to use a single bet calculator, but more on that later.
What are Some of the Possible Risks of making a Single Bet?
One of the key points we should mention in our single betting explanation is the fact that this type of bet carries a low risk. However, there are some significant disadvantages, which make experienced bettors turn away from single bets.
The major disadvantage lies in the fact that single bets bring significantly lower returns compared to other bet types. Betting on the outsider, at longer odds, can translate into bigger profits. However, as you might be aware, this also carries a lot more risk.
What is a Single Bet Calculator and How Can I Use It?
A single bet calculator is an online tool that can help you instantly calculate your potential returns. Using a single bet calculator can give you instantly give you an insight into how your profit changes depending on the odds. A single bet calculator will usually give you the option to change between different odds formats, which is especially useful for new bettors. The betting calculator will also allow you to factor in a number of other, market-specific options.
Overall, it’s an extremely useful tool, which can save you tons of time, and streamline your betting experience.
If you want to see how a single bet calculator works in practice, you can try one out by clicking at the link below.
Frequently Asked Questions About Single Betting
Do you still have questions on how to single bet? Take a look at our FAQ section for an additional single betting explanation.
What is a Single Bet?
A single bet is a bet type that involves betting on the outcome of one match. If the bettor correctly guesses the result, he or she wins the bet. You can find a further single betting explanation and a guide on how to single bet in our text.
On which sports can I place a Single Bet?
As single bets are the most basic betting method, you can place them on every single sport. Moreover, many of the non-sport related markets are also a good match for single bets.
What bookmakers offer this type of bet?
Since single bets are a staple of bookmaking, you will find them in every single sportsbook. You will also generally be able to place a single bet on any betting market.
What is the best single bet strategy?
If you’ve read our single betting explanation, you will know that single bets are difficult to strategize. You will need to strike a balance and know the markets you are betting on well enough to estimate when you can bet on the outsider.