What is a Single Bet?
Anyone fairly new to sports betting, faced with the somewhat daunting range of bets which it is possible to place – from an accumulator to an each way bet or a yankee – will doubtless be reassured by the presence of something as relatively simple as a single bet. A single bet is exactly what it sounds like; just one bet, placed on the outcome of a sporting event, meaning that only one result lead to a successful outcome.
How is a Single Bet used in Sports Betting?
When placing a single bet the range of options which have to be considered are relatively small. First of all there is the sport in question, and secondly there is the amount to be bet. This is referred to as the stake, and in the case of a single bet the stake which is bet, if the bet is successful, will be multiplied by the odds being offered, either fraction odds or decimal odds. The more likely the bookmaker thinks it is that a selection is going to win, the lower these odds will be, meaning the bet is apparently more likely to be successful, but will pay less back.
For example, if Real Madrid are playing Burnley in the Champions League, a bookmaker might offer odds of 2/1 against Madrid winning and 25/1 against Burnley. In this case , a £5 single bet on Madrid would produce winnings of £15 if they win, which is a profit of £10, while the same bet on Burnley will, if Burnley triumph, generate winnings of £130 and a profit of £125.
Single bets are accepted by virtually every bookmaker in any part of the world, and are the ideal means via which a novice gambler can familiarise themselves with the way in which sports betting works without risking more than they can afford.