Especially for beginners, the world of sportsbetting can often be quite complex. At the start, there are lots of new terms to learn. However, most new bettors have heard of the term ‘single bet’ – and will know what that means. This is the simplest form of betting that is available to you. Because it is so simple, these bets offer inexperienced punters a better chance of making a profit. However, what exactly is a single bet? Our experts at BettingOnline have done their best to make it as clear as possible for you.
The most important facts about the single bet:
- Betting on a single event
- The most common is a 2 or 3-way bet
- You have the highest chance of winning
- It is lower risk
- These bets are easy to make
- The alternative is a combination bet or system bet
What Distinguishes a Single Bet?
The concept behind this type of bet can be explained in just one sentence. In a single bet, you bet on the outcome of a specific event. Due to its simplicity, it allows numerous new bettors to start with a positive sports betting experience. Even lesser experienced bettors can start making some money here with their limited betting knowledge.
A single bet can be placed at any online bookmaker. You select your preferred sporting event and choose how much you want to bet. The most common example is betting on the outcome of a betting match. In most cases, a single bet is one of the following:
- 2-way bet
- 3-way bet
The two types of betting differ only on the number of possible outcomes. In a 2-way bet, there are only two outcomes (win or lose). Then, in a 3-way bet, there are three possibilities (win, lose or draw). This difference has a significant impact on the betting odds.
Furthermore, there are also bets with a higher number of outcomes – for example, it could be a victory bet in a tournament or a horse race etc.
Calculating the Win for Single Bets
Basically, your profit depends on the betting odds on offer. The higher the odds, the bigger your profit. The odds are determined by the provider. Once you have the odds, the profit is easy to work out.
- The amount you win / the amount you stake to win it
So – an example of this might be 7/4: You win £7 for every £4 you bet
In this example, if you bet £20, you’d win £35 – plus your original £20 stake. So, you would get £55 back, with £35 of that being your overall betting profit.
Advantages and Disadvantages of the Single Bet
Single bets are the most popular sports bets. Their popularity is explained not just by their ease of use; there are plenty more reasons as to why single bets are so popular. The biggest advantage is that it is the bet with a higher chance of winning. It is higher than any other type of bet. As a result, there is a lower risk of losing your stake here. In contrast to a combination bet, there is just one condition here. In addition, placing a single bet requires relatively little time and is easy to do even if you aren’t an expert. The advantages are as follows:
- Highest probability of a profit
- Lower risk
- No special betting know-how needed
- Quicker and easier to do
The only drawback is the lower odds compared to the other types of bets. As a result, your potential profit is lower with a single bet.
Alternatives to a Single Bet
Not every sports bettor wants to limit his or her activity to an individual sporting event. The good news? You don’t have to. You can also combine several single bets into one big bet. This would be referred to as either a combination/accumulator bet or a system bet. Let’s look at the differences.
A combination bet – an accumulator / combi-bet can consist of up to ten (or more) individual bets. As such, both profit and risk are significantly higher. The total odds reflects the combination of all the single odds.
A system bet can be considered as a further development of the combination/accumulator bet. It is composed of several combinations. However, this type of betting allows you to determine the risk yourself. This type of betting also allows for errors.
Frequently Asked Questions
What is the minimum stake required for a single bet?
This question cannot be answered with a straight answer, as it varies, depending on the bookmaker. There are some bookies that will allow you to make a bet of just 10p. However, others require a minimum of £2.
Where Can Single Bets be Placed?
Every bookmaker offers single bets. However, the betting offers vary from bookie to bookie. If you want to find out what bookmakers are better for different sports, then check out the best bookmaker reviews.
Can You Make Single bets on your Smartphone?
You can place single bets on a variety of mobile devices. Some bookies even have a special sportsbetting app. However, many of these apps are designed only to operate on iOS and Android systems. Generally, mobile betting is easier on Apple or Android phones, although it is possible on most devices at most online bookies
Can You Use Bonuses & Promotions on a Single Bet?
Obviously, you can generally use bonuses & betting promotions to make single bets. However, do be aware of the minimum stake in these cases. You can find all this information in the bonus conditions attached to any bonus or promo available. If the conditions are not met, then the bet will not count towards the fulfillment of the bonus criteria.
Are Single Bets Worthwhile?
Yes. Betting on a single event can still win you a decent amount of money. Although a combined / accumulator bet has a higher profit rate overall, it is much riskier – and you’ll win nothing if one of the single parts of your bets falls through. Since there is only one win condition for a single bet, you have more chance of making a profit here.
Conclusion – Single Bets are Great for Newbies and Professionals Alike
Single bets are among the most widely used betting types offered by bookies. Unlike other types of bets, this is just for one sporting event. Because of its simplicity, these bets are especially good for beginners. In the majority of cases, the bet will be a 2-way or 3-way bet. The biggest advantage of the single bet is the higher chance of winning compared to a combination/accumulator bet. However, there are times when the odds of single bets aren’t that great – especially compared to acca bets. Open your account now to make your first single bet – and see just how easy it is!