What is a Singles Bet within betting?
A singles bet is merely a straight bet on the outcome of an event, no matter whether it be in horse racing, football or any other sport. With returns determined based on the amount put down and the odds offered by the sportsbook. This is typically a very well known way of betting and has always been prominent within football betting.
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What is a Singles Bet?
A single bet is decided depending on the outcome of the event that is being bet on. The punter must decide on the amount that they wish to stake, the higher the stake, the more money that the punter can win. However, if the selection loses the bookmaker keeps the stake and returns nothing to the punter. If the choice is victorious, the stake is multiplied by the odds to determine the profit that the punter receives.
Bookmakers offer higher odds on selections they believe are less likely to win, such as top football teams losing to teams in the relegation places. The higher the odds, the greater the winnings that the punter receives should that pick win. The primary way to bet on singles is to simply place money on the outcome that is most likely to happen according to the odds.
Singles Bet Example
This is a pretty easy betting type to understand. Simply put, you could put £10 on both teams to score in the Chelsea vs Tottenham Hotspur fixture at odds of 4/6. If your bet wins you will pocket £16.67, however should you lose you won’t receive any money off the bookmaker.
How does a Single Bet work each way?
In an each-way bet your stake is doubled, as you are betting on the selection to win, and on the choice to be placed. So a £5 each way bet will cost £10 as the bet is made up of £5 win and £5 place. The place part of the stake will be paid at a fraction of the winning price. This is unless the race that you’re betting on has a special guarantee.
If your horse comes first, the punter will be paid both the “Win” and “Place” parts of the bet. However, if your horse comes 2nd (or 3rd depending on the terms for that race), then you will get paid at either a 1/4 or 1/5th of the odds for your placed stake. Although, this is depending on each way terms for the race.
The each-way terms for other Sports and Events will differ depending on the sport, the competition and the market. Within the Premier League, you can place an each way bet, and then you will receive something back should the team you have backed finishes second.
Advantages of a Single Bet
Single betting is a massively popular way to gamble for a reason. It is simple to bet on singles and to place a bet is quick. You aren’t combining multiple elements; it is merely one thing that needs to happen for you to win.
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