Single Betting in Online Sports Betting
One of the great things about online sports betting is that it caters for just about every type of punter. From the first-timers to the professionals, there are dozens of different types of ways to wager on all of the major sports. For those just starting out, the easiest way to get your feet wet is to start with singles betting. This type is defined as a straight bet on a specific event with returns that are determined by the total amount staked, and the odds offered.
All top rated online sports betting Canada sites offer singles bets on major sports including Basketball, Cricket, American Football, Ice Hockey, Tennis, Rugby, Golf, Volleyball and other popular sports. The wins or loses depending on the outcome of event.
The Basics Explained
With a singles bet, a punter must decide how much they wish to stake; the higher the stake, the more they stand to win. For example, if you put down $50 at odds of 4.00, the potential profit is $150. If you increased it to $80, the profit would increase to $240. The profit or total winning amount is also determined by the odds given. The stake is multiplied by the odds displayed at the time of placing the bet. Mobile sports betting sites offer higher odds on selections they think are less likely to win. For example, in horse racing, the race favourite might have 2.10 while an outsider might have 9.00 or 11.50. In this case, a $50 wager on the favourite would yield a total payout of $105 while the 11.50 outsider would yield a payout of $575 if they were successful.
The general strategy is place wagers on selection where you think the odds do not match up with what you think is going to happen. These are known as value bets. An example would be if a horse was posted at 7.00 and you know that the horse has shown excellent form lately and has a real shot of winning. In such cases, the risk would be worth the payout.
Singles Versus Multiples
Singles are considered to be fairly low risk when compared to multiples. Over a selection of four or five wagers, multiples would yield a much higher payout but with a much higher risk factor. For example, if you were to place 4 singles at a mobile sports betting site with odds of 3.50, 2.00, 5.30 and 7.00, this would yield a healthy payout every selection won.
On the other hand, if you combined the 4 into a multiple, then each one would be multiplied by the one before. Instead of having the highest odds of 7.00, you could be looking at over 40.00 and a much, much higher payout. The problem is that each wager in the multiple would have to be correct in order to win. If even one selection is a non-winner, the entire bet is lost.
A Closer Look at Combination Singles
Combination can also be another form of singles sports betting. With combinations, a punter splits their stake over a number of selections to spread out the risk and maximise their coverage. For example, instead of placing one $200 wager on 1 race or event, opting for a combination means taking the same $200 and splitting it over 3, 4 or even 5. If it was split into 3 and the odds are 3/1 or higher, then a profit would be achieved if only one of the three were to be successful. Similarly, if stake was split into 5, each would need to have odds of 5/1 or higher to yield a profit from 1 winning bet.