What is a Single Bet? A Simple Explanation to How it Works
Whether you are just starting out, or you simply want to refresh your knowledge when it comes to the various bet types, this guide explaining the extremely popular single bet will set you on the right path. Learn how to place a single bet at an online sportsbook and how single bet calculators can help you work out potential returns.
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. 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 by 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.
Single bets are popular and available on every betting market. Since they are very straightforward and don’t require a lot of strategising, single bets are perfect for new punters.
To know on which odds you could place a Single Bet, come check out our selection of UK betting sites.
Example of Using a Single Bet
Let’s give you an example to help you understand a single bet. It’s the most basic form of betting because it’s the simplest.
Say you want to bet on Real Madrid to score at least two goals in a La Liga match they’re playing. The odds of that happening are 3/2. If you place a £50 wager on that bet and they only score one goal, your bet is lost. If they score at least two goals and you win the bet then you will get a total return of £125.
To work that return out, we just multiplied the stake by the odds or 50×3/2. Since your wager is included in the payout, your total profit will end up being £75 but you’ll get £125 back in total.
If you want help on how to calculate the winnings of a single bet, check out the next section.
But before that, let’s give you a horse racing example. For this, we’ve used a horse racing specialist, Fitzdares. On their site, we ventured to the horse racing section and then clicked on Epsom Downs. For this race, we selected ‘Buy The Dip’ and then checked our betting slip:
How to Calculate Winnings
Work out your winnings with our Single Bet Calculator.
What are the Advantages of Placing a Single Bet?
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 decent 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 potentially lower risk compared to system bets and accumulators. 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 instantly tell you 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.
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.
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.
