The world of sports betting is filled with a myriad of terms and options that can be overwhelming for new punters. Among these, 'Singles' and 'Doubles' are two prevalent types of wagers that are easy to comprehend and popular among seasoned and novice bettors.
This comprehensive guide by Wizard Slots aims to elucidate what Singles and Doubles mean in betting, along with examples, profitability analysis, and a comparison with multiple bets.
What Is Singles In Betting?
A 'Single' bet, as the name suggests, is a simple wager placed on a single outcome of a specific event. This is perhaps the most straightforward and commonly used type of bet. With this bet, a punter predicts a single event's outcome, such as a football team winning a match or a horse winning a race.
When placing a single bet, you're betting on one outcome only. The potential winnings from this type of wager are determined by the odds offered by the bookmaker and the amount staked by the bettor. If your prediction is correct, the bookmaker will return your stake along with your winnings. Should your prediction prove incorrect, the bookmaker keeps your stake, and you lose the bet.
Single Bet Example
Consider an instance where you place a single bet of £10 on England to beat Brazil in a football match, with the odds at 2/1. If England triumphs over Brazil in the match, your single bet wins. Your winnings would be calculated by multiplying your £10 stake by the odds (2/1), resulting in £20 in winnings. Conversely, if the match results in a draw or a win for Brazil, you lose your £10 stake.
Are Single Bets Profitable?
The profitability of a single bet is tied directly to the accuracy of the punter's prediction and the odds offered by the bookmaker.
Single bets also allow for easier risk assessment, making them a wise betting strategy for those who prefer wagering on outcomes they feel are more probable than what the bookmakers' odds imply. They are a great starting point for beginners due to their simplicity and are also a favoured choice among more seasoned bettors for their straightforward risk management.
What Is Doubles In Betting?
A 'Double' bet is a step up in complexity from a single bet. This type of bet involves making two selections across two different events. In order for a double bet to be successful, both selections must win. If either or both of the selections lose, the entire bet is lost.
Double bets are popular because they offer higher returns than multiple single bets. However, the risk is also greater as both selections must be successful for the bettor to receive a payout. This type of bet is popular across various sports, including football, tennis, horse racing, and rugby, and can involve combining bets across different sports.
How Does a Double Bet Work?
The odds for a double bet are calculated by multiplying the odds of each single bet together. As mentioned above, both of these bets must win in order for you to receive a payout. If only one bet wins or neither wins, you lose your wager.
Double Bet Example
Let's consider an example where you place a double bet of £5 on Portugal to beat Brazil at 4/1 and England to beat France at 2/1. The odds for this double bet would work out to be 8/1. If both Portugal and England win their respective matches, your double bet wins, and you'll receive your stake plus the winnings. However, if either or both teams lose or draw their matches, you lose your stake.
In this case, the potential winnings from a successful double bet would be significantly higher than if the same stake were placed as two separate single bets. However, remember that the risk is also higher since both predictions must be correct for the bet to win.
Each Way Double Bet Explained
An 'Each Way' double bet is commonly employed in horse racing. It involves two selections across two different races, with two double bets being placed - one on 'to win' and one on 'to place'. The 'to win' double requires both horses to win for a successful bet, while the 'to place' double requires both horses to place (finish in one of the top positions).
As this involves placing two bets, the stake is doubled. So, if you place a £10 each-way double bet, you're effectively placing a £20 bet - £10 for the win part and £10 for the place part. The odds for the place part of the bet are usually 1/5 of the original odds.
Single Bet vs Multiple Bet
While single bets only involve one selection, multiple bets, such as doubles, trebles, or accumulators, involve more than one selection. Although multiple bets can offer higher potential returns, they also carry a higher risk, as all selections must win for the bet to be successful.
In contrast, single bets are less risky as they are dependent on a single outcome. For beginners and those who prefer straightforward bets, single bets may be a more suitable choice. However, for punters seeking higher returns and willing to take on more risk, then multiple bets, such as doubles, may appeal to them more.
Conclusion
In conclusion, both singles and doubles have their own sets of advantages and potential drawbacks. While singles are more straightforward and less risky, doubles offer a chance for higher returns. As always, it's essential for bettors to understand the nature of these bets and assess themselves before diving in.
Please gamble responsibly. Set a budget, stick to it, and never chase your losses.