Understanding Single Bets: A Beginner's Guide

Singles bets are the first type of wager you’ll encounter when betting on sports. Though they’re one of the most straightforward options, you still need to understand the basics to make a successful singles bet – and we’re here to help. 

Today, we’re looking at single bets, how you make one, and insider tips and tricks you can use for a successful experience. Without further ado, let’s jump into it!

What Are Single Bets?

So, what is a single bet?

Single bets are a type of wager placed on a single outcome rather than multiple outcomes. For example, in non-GamStop football betting, a single could be placed on a team to win, or in horse racing, you’d bet on a horse to finish first.

These bets are the most simple of all, and they’re great for beginner bettors as you don’t need to make multiple selections. 

Single bets have less risk since you don’t need to worry about other outcomes. You only focus on the one you’re wagering on. This also makes them a good choice if you want consistent returns.

How to Place a Single Bet

Knowing how to place a single bet before you start betting makes the process much easier. Here’s a quick step-by-step guide to help you place your first wager.

1. Choose Your Sportsbook

The first step involves finding a reputable bookies sportsbook not on GamStop. To ensure you’re using a trustworthy site, look for gambling licences, a wide variety of sports, valid payment methods, and reliable customer support.

2. Create an Account

Next, create an account or sign in to an existing one. Have your ID ready for KYC checks, or choose a betting site without ID verification to skip this step.

3. Make Your First Deposit

Once logged in, navigate to the “Cashier” section to make your first deposit. There might be a minimum deposit amount, so check whether you need to pay a specific amount.

4. Find Your Betting Market

Are you a basketball fan or a non-GamStop horse racing enthusiast? Find your desired sport and market to get started.

5. Select Single Bet

Now, to the most important part – choosing your singles bet. You’ll usually find “Single” at the top of betting options when you click your sport and market. Select this to continue.

6. Review Your Bet & Enjoy The Game

Don’t rush to confirm your wager! Review your digital bet slip to check if you are betting on the right market and spending the correct amount. When you’re happy, confirm the best and enjoy watching the event. 

If successful, your single bet winnings will be delivered to your account.

Single Bet Odds Explained

You’ll need to know how the odds work alongside knowing what single bets are. 

Single betting odds show the likelihood of a sports outcome vs the potential payout if it happens. You can use these figures to work out the risk of your potential bet against the potential winnings – important for any bettors who want to avoid high-risk wagers or want to maximise their winnings.

The format of odds you use will depend on the sports you’re betting on. These are three types of odds. Here’s a quick breakdown of them:

• Fractional odds – These are most popular in the UK and Ireland and are often used for football and horse racing. Fractional odds are shown with a slash (/), e.g. 7/1.
• Decimal odds – Decimal odds are common in Europe, Australia, and New Zealand. These show the probability via decimals (e.g. 7.00). Many believe these odds are the easiest to read. 
• Moneyline odds – Moneyline odds are used in the U.S. and use positive (+) and negative (-) signs to show the probability of an outcome relevant to a $100 wager (e.g. +1000).

Tips for Winning Single Bets

Understanding how singles work is essential. But you can bolster your skills with a few expert-approved tips, too! See the best tips for winning single bets below:

• Shop around for odds on different sportsbooks
• Focus on the value of the bet rather than the favourites
• Research and analyse relevant factors before betting
• Remain disciplined with consistently sized bets
• Explore alternative markets with better value odds

Common Mistakes to Avoid in Single Betting

There are lots of ways to succeed in singles betting, but also lots of pitfalls to avoid. Here are some of the most common errors beginners make to help you bypass these mistakes and reach success faster.

• Chasing losses and placing large bets to try and win money back
• Betting based on emotions and impulses
• Forgetting to research every wager
• Lacking discipline and placing bets of random sizes
• Following the media buzz about favourites without doing independent research

Single Bets vs. Multiple Bets: Pros and Cons

Some bettors prefer singles. Some like to place multiple selections. How do the two weigh up? We’ve tallied up the pros and cons of single bets to help you decide if this is the method for you.

Pros of Single Bets

• Simple to understand
• Generally low risk
• Can be used for strategic betting
• Easy to compare the odds

Cons of Single Bets

• Lower payouts
• Not as dynamic
• Less variety 

Now, let’s take a look at multiple bets to see how they compare.

Pros of Multiple Bets

• Potential for larger payouts
• Chance to combine different sections
• Enhanced excitement 

Cons of Multiple Bets

• Require complex research
• Comparing the odds is more difficult
• Higher risk of loss

Single Betting Strategies for Beginners

Adopting a betting strategy can help beginners learn the ropes without extra risk. So, if you’re new to the game, take note of these strategic tips!

1. Take Advantage Of Your Knowledge

If you’re already a sports fan, you can use your existing knowledge to supercharge your wagers. For example, you could focus on sports you know or bet on markets you’re an expert in. This way, you already have insider knowledge and understand the potential outcomes.

2. Start With Small Wagers

New bettors may also want to start betting with smaller stakes. Though it can be tempting to place a large bet, small wagers will give you a feel for singles bets without making a big financial risk.

3. Only Bet After Researching

Research is critical to sports betting and should be in all bettor’s strategies. Consider player/team form, weather conditions, coaching decisions, and other relevant factors before you confirm your bet.

What Is A Single Bet? The Bottom Line

Singles bets are the first wager most bettors place on their sports betting journey. So, start your journey on the right foot with extra research and expert advice. Bookmark this page so you can return and revise your skills.
Or keep researching. Learn more via the BettingNonGamStop blog here.