Every bettor should be familiar with the simple bet, also known as a single bet. It is the first type of bet that we know when we enter the world of betting.
It simply consists of selecting a sporting event, choosing a single odds that you like (win X or more than X goals, for example), deciding how much you want to stake and placing the bet. If the chosen outcome occurs, it will be a successful bet, if not, it will be an unsuccessful bet. The possible winnings are calculated by multiplying the odds of our prediction by the $s bet.
Despite being simple bets, they are still interesting bets for both novices and experts. They are easy, safe and do not require a lot of time to study and place, as they depend on a single result.
These types of bets can be placed on all types of sporting events and circumstances, whether it is for odds with only two possible outcomes (more or less than X goals), odds with three possible outcomes (win, draw and loss) or odds with multiple outcomes (e.g. a horse race where you bet on a winner among the eight participants).
Example of single bets
To get a better understanding, let’s take a look at betway.co.uk and see some examples of single bets on some upcoming sporting events:
- Levante – Athletic de Bilbao (LaLiga):
- Levante win – 3.10.
- Draw – 3.20.
- Athletic win – 2.40.
In this simple bet we have 3 possible outcomes. If we place a single bet of $2 on Levante to win, we would be looking at a potential profit of $6.20 (3.1 x 2 = 6.2).
- Real Madrid – Zalgiris Kaunas ($league).
- Real Madrid win – 1.28.
- Zarlgiris Kaunas win – 3.8.
Simple bet with two possible outcomes. If we bet $2 on Real Madrid to win, the potential profit is $2.56.
Winner of the 2021 F1 Drivers’ Championship:
- Lewis Hamilton – 1.36.
- Max Verstappen – 6.00.
- Valtteri Bottas – 10.00.
- Carlos Sainz – 67.00.
- Fernando Alonso – 67.00.
- Kimi Raikkonen – 501.00.
There are up to 20 possible outcomes in this single bet, although we will only highlight six. If we bet $4 on Fernando Alonso winning the Formula 1 race, the potential profit will be $268.00.
Single betting strategies
When it comes to placing single bets, there are all kinds of strategies, whether to cover another bet, to take advantage of unforeseen circumstances that may arise in a match, to cover the maximum possible results in a sporting event, etc… But all strategies have in common that they are based on having as much information as possible about the sporting event in question.
It is true that single bets are often the subject of playful or intuitive bets, such as betting in favour of the team we are rooting for. This is because single bets are usually not too risky if you are not betting large amounts. However, recreational betting should be an exception, the strategy of a good bettor should focus on the information of the event.
The key is to find value odds that have not been able to accurately predict the circumstances of the sporting event. Some examples of how to use our information to our advantage are:
If we know that the opposing power forward is injured before the game, we can bet that our team’s power forward will grab more rebounds than usual.
If the opposing goalkeeper is sent off during a football match, bet on our team’s goal before the odds are changed to adapt to the new reality of the match.
Another widely used strategy with single bets is to cover possible scenarios. This is usually done when we have any type of bets placed and by combining them with different single bets we cover almost all possible outcomes, ensuring some margin of profit.
For example: we bet on Real Madrid to beat FC Barcelona. If during the match Madrid scores, the odds on Barça to draw or win will be much higher, so we can take advantage of this and bet on FC Barcelona to draw, ensuring more possible results.