Single Bet Explained
As a newcomer in sports betting, it is easy to get overwhelmed by the sheer number of options to wager on. This is where the single bet comes in, the most straightforward and perhaps most used bet type by punters. While multiples, accumulators, and teasers look exciting and promise substantial payouts, single betting offers more flexibility and enhances solid bankroll management.
This guide delves into everything to know about single betting, covering the following key points:
- What are single bets?
- Where to find single bet options?
- Tips for single betting
- Pros and cons
- Alternative bet types
What is a Single Bet?
Since you are betting on just one outcome, single bets often come with a lesser risk, offering lower payouts than multiple wagers. However, it is still possible to get substantial payouts from this bet type. You can either stake a significant amount or go for long odds. But it would be best if you remembered that both approaches increase risk levels significantly.
For instance, one of the biggest single bet wins was $3.5 million by the renowned sports bettor Billy Walters. He got this massive payout with a single outright bet on the underdog New Orleans Saints to beat the Indianapolis Colts at the 2010 Super Bowl.
Single Bet Example
You place a $10 bet on Arsenal to win Liverpool in a Premier League match after your research and analysis at the odds of 2.80. To work out a single bet example on this wager, you will receive a $28 payout ($10 x 2.8) if Arsenal wins.
Similarly, you can wager the same amount on the over 2.5 market at 2.5 odds in the same match. In that case, you will win a $25 payout ($10 x 2.5) if the total goal is at least three after 90 minutes. If you are wagering on a single outcome, a single bet may come in several other markets.
What is a Each-Way Single Bet?
A single each-way bet is a combination wager placed on just one outcome. It is commonly used in horse racing and golf. The bet consists of two parts combined into a single wager. The first part is on your selection to win, and the second is on the selection to finish in the specified place positions like top 2 or 3. If the selection wins, both parts payout; if it places, the place part pays out at a fraction of the original odds. This bet type provides a degree of insurance for the bettor.
Where to Find Single Bet Options
The internet offers limitless options regarding where to wager online. However, there are essential factors to consider to get the best site for single-game betting. These include reputation, licensing, odds, range of markets, bonuses and promotions, customer support, etc. While you can find single betting as a standard wager type at numerous sportsbooks, these factors ensure a safe, fair, and value-driven experience.
Below are some of the best sportsbooks for single betting:
Besides choosing the bookmakers, you should also prioritize finding reputable tipster sites that provide free single-bet tips to increase your chances of winning.
How to Make a Single Bet with a Bookmaker
Placing a single bet with a bookmaker is a straightforward process, and most online sportsbooks follow a similar structure. Below is a step-by-step guide.
- Create an account: Sign up on your chosen bookmaker’s platform. Provide necessary personal information and create login credentials.
- Deposit funds: Fund your account using preferred payment methods. Consider deposit limits, especially if you place single bets with high stakes.
- Navigate to the sportsbook: Access the Sportsbook section on the website or app.
- Choose the sport and event: Select your desired sport and specific event to view available markets.
- Select and confirm your bet: Click on the odds corresponding to the outcome you want to place a wager on, add it to your betting slip, and confirm it.
- Collect winnings (if successful): If your bet succeeds, your winnings are automatically credited to your account for withdrawal.
Ensure you are aware of the terms and conditions associated with the bookmaker. Also, remember to take advantage of free daily single bet predictions from reputable tipster platforms before placing your wagers.
What is a Single Bet Calculator & How Can I Use It?
A single bet calculator is designed to help bettors calculate potential returns on a single bet. Several online sportsbooks and betting-related sites offer this tool for free to punters.
Also, an each-way single bet calculator helps determine the potential returns for the win and place components of the each-way single wager. It might prove difficult for a newbie bettor to calculate by hand.
Follow the steps below to use a single bet calculator:
- Enter the stake
- Choose the odds format
- Select the outcome
- Enter the odds
If you place an each-way bet, you can switch to “Each Way” at the top of the calculator. In this case, you’ll need to enter the each-way fraction (e.g., 1/4 for a place in the top 4). Also, if you want to win a single bet parlay, most calculators can calculate the payouts for up to 20 single wagers.
Tips for a Single Bet
When placing a single bet, there are several tips to consider to enhance your chances of success and maximize the value of your wager. Let’s explore some of these below.
|💡 Research and analysis
|Conduct thorough research on the event or market you are betting on. Analyze team or player statistics, recent forms, injuries, and other relevant information. Informed decisions are more likely to be successful.
|💡 Bankroll management
|To make money with single bets, you must set a budget according to your bankroll and stick to it. Avoid betting more than you can afford to lose. Effective bankroll management is crucial for long-term success in betting.
|💡 Value betting
|A value bet is one where you believe the probability of an outcome is higher than the bookmaker’s odds suggest. Seek out opportunities where you can find favorable odds.
|💡 Follow reputable tipsters
|Consider following reputable tipsters for additional tips and recommendations like the Best Banker Single Bet of Day. While making decisions is crucial, respected tipsters can offer valuable perspectives, helping refine your choices.
|💡 Shop for the best odds
|Compare odds from different sportsbooks to find the best value for your bet. Even minor differences in odds can significantly impact your potential returns.
|💡 Take advantage of bonus offers
|Most sportsbooks provide welcome bonuses, free bets, cashback offers, enhanced odds, etc., to attract new customers and keep existing ones loyal. Utilizing these promotions can improve the value of your single bets, increasing your chances of success in the long run.
Single Bets: Pros and Cons
Like every other bet type, single betting comes with its own set of advantages and disadvantages. This section of our single betting explained guide will explore the pros and cons of the bet type.
Alternative Bet Types
While single betting is straightforward and enhances risk management, it might not appeal to you due to certain drawbacks. Luckily, there are various alternative bet types, from teasers and accumulators to system wagers. Each of these offers a unique set of opportunities and challenges.
Single Bet Vs. Multiple Bet
A single bet is a straightforward wager on just one outcome. For instance, let’s say you see a Super Single Bet of the Day tip on a trusted tipster website to place a $100 wager on Manchester City to beat Chelsea in the ongoing EPL at 2.50 odds. Your bet is dependent on the success or failure of that single outcome. If City wins, the payout is $100 x 2.50 = $250, including the initial stake. If they lose, your wager loses, and the bookmaker withholds your stake.
Conversely, a multiple bet combines 2 or more individual selections into a single wager. Here, all picks must win for the bettor to receive a payout. An example is a $50 3-leg accumulator wager on the Chicago Bulls (2.20), Los Angeles Lakers (1.80), and Brooklyn Nets (2.50). If all three teams win, the potential payout is $50 x (2.20 x 1.80 x 2.50) = $495. However, the bet is considered a loss if even one of the teams loses.
The table below shows some distinct differences between the 2 bet options.
|Multiple Bet (Accumulator/Parlay)
|Wager on a single outcome or event
|Combination of multiple selections into one bet
|Lower risk but potentially lower reward
|Higher risk but offers higher potential reward
|Only one selection needs to win for a payout
|All selections must win for the bet to succeed
|Payouts are based on the odds of a single selection
|Payouts are cumulative, with odds multiplied for each selection
Single betting is a straightforward and popular bet type that involves wagering on just one outcome. Compared to multiple betting markets like accumulators, it offers more flexibility and aids risk management. However, this doesn’t mean it’s risk-free or winning is guaranteed.
Whether you engage in single-game betting in Canada or anywhere else, you must employ in-depth research and analysis before each wager to make informed decisions. Also, you can increase your chances of success by following expert tipsters for valuable tips and recommendations. Lastly, remember to stay disciplined and practice effective bankroll management.
Frequently Asked Questions
What is a single bet?A single bet is a straightforward wager where a bettor places money on a single selection. It involves predicting just one outcome in a specific sports event, whether the winner of a football match or the total number of points scored in a basketball game. Your bet is successful if the chosen outcome occurs.
Is a single bet profitable?While it’s less risky, profitability is not guaranteed in single betting. However, you can increase your chances of success with thorough research, sound strategy, and effective bankroll management. Also, you can follow the following expert tipsters for valuable tips and recommendations that can improve the quality of your selections.
What is an each-way single bet?An each-way single bet is a combination wager placed on just one outcome commonly used in horse racing. It consists of 2 equal parts: one on the selection to win and the other on it to place (usually in the top 2, 3, or 4, depending on the race conditions). It provides a degree of insurance against a complete loss.
Is a bet builder a single bet?No, a bet builder is not a single bet. The tool allows bettors to combine multiple selections within a single wager, creating a customized wager with various outcomes. The Bet Builder feature is popular in sports betting platforms and offers flexibility by enabling users to construct bets tailored to their preferences.
What is the single bet of the day?The Single Bet of the Day refers to a carefully selected individual wager with a high probability of success. It reflects expert analysis or tipsters’ insights for a specific sports event or market.
What is the difference between a single bet and a multiple bet?A single bet involves wagering on a specific outcome, while a multiple bet combines two or more selections into one wager. In a single bet, only one outcome matters for success, whereas in a multiple bet, all selections must win for the bet to be successful, offering higher potential returns.
On which sports can I place a single bet?You can place a single bet on a wide range of sports, including but not limited to soccer, basketball, tennis, football, baseball, and more. Virtually any sport offered by sportsbooks allows for single bets, offering simplicity and flexibility in wagering specific outcomes within a given event.
What bookmakers offer this type of bet?You can find single betting as a standard wager type at numerous sportsbooks. However, you must consider essential factors like reputation, licensing, range of Markets, bonuses and promotions, and customer support to pick the most suitable platform. Some popular bookmakers that offer single betting include William Hill, FanDuel, bet365, DraftKings, Betfair, 888Sport, etc.
Can you bet on single games on DraftKings?You can bet on single games on DraftKings and other popular bookmakers. The platform offers a variety of betting options, including single-game wagers, allowing users to place bets on individual events, matches, or outcomes within a specific game or sporting event.
Are you better off doing single or parlay bets?The choice between single bets and parlay bets depends on individual preferences and risk tolerance. Single bets offer simplicity and lower risk, while parlay bets can yield higher returns but require all selections to win. Consider your betting objectives, strategy, and bankroll in making your decision.