When it comes to online sports betting, finding the ideal risk-to-reward ratio is what most punters strive to achieve. For those who have been around long enough, this may involve placing a series of wagers on singles, multiples and possibly even lay bets at exchange sites. For anyone just getting started, the best way to get your feet wet is to start with singles betting.
The Influence of Stake and Odds
Singles are straight bets where the payouts are determined by the total amount staked as well as the odds. We can break this down into its two sections. The stake amount is the physical amount you wish to wager. The more you chose to wager, the larger the potential payout. This is the case with all sports betting sites.
The second factor which influences the payout is the odds. For simplicity purposes, we can say the higher these are, the more you stand to win. For example, if you place a $50 wager at 5.00, you can expect a total payout of $250 including your original stake. If you place the same stake 9.00, the potential payout increases to $450.
The best sports betting brands offer competitive odds on all major sporting events. However, the bookies are good at their jobs and generally offer higher ones on markets that are unlikely to win and low ones on the favourites. The key is to find a wager where they do not seem to match the inherent risk. These are known as value bets and is where most punters make their money.
Weighing Up Against Multi-Bets
Singles betting differs from multi-bets in that each wager has a lower risk, but also a lower payout. For example, on a day of horse racing, a punter can place four $50 singles wagers on 4 different races, each at different odds. If every one of the wagers were successful, each wager would payout at the amount displayed. The payout would be generous but not half as much as if the bet were placed as a multi.
Multi-bets can be placed with online and mobile sports betting sites on just about any sport. Instead of placing 4 $50 bets, a punter can combine the 4 into one multi. What this means is that each wager is multiplied by the next one. If all 4 wagers win, the multi pays out significantly higher amounts, since each of the odds would be multiplied by the next. Compared to the 4 singles, the payout would be up to 50 times larger.
The down side of multi-betting is that each of those 4 wagers needs to win in order to pay out. If even one is wrong, the entire bet loses. This is where the singles option is safer. If 3 of the 4 win, you still win payouts on the 3, while losing your stake on the 4th. This is also where punters can adopt a combination strategy where you place multiple wagers on different odds and stakes to ensure that if just one wager wins, you still make a profit.