A single bet, is a bet that is dependent on one event taking place.
How to work out a single bet?
Calculating the potential payout for a single bet is a straightforward process. To work out the potential return for a single bet, follow these steps:
- Determine the Bet Amount: Start by deciding how much money you want to wager on your single bet. This is the amount you are risking.
- Check the Odds: The odds for your single bet are typically provided by the sportsbook or betting provider where you’re placing the bet. Odds are expressed as a decimal, fractional, or moneyline format. Be sure you understand the format used.
- Decimal Odds: If the odds are in decimal format (e.g., 2.00), you simply multiply your bet amount by the decimal odds to calculate your potential return.
- Fractional Odds: For fractional odds (e.g., 3/1), you multiply your bet amount by the numerator (top number) and then add your original bet amount to get your potential return.
- Moneyline Odds: Moneyline odds can be positive (e.g., +150) or negative (e.g., -200). If they are positive, you calculate your potential profit by dividing your bet amount by 100 and then multiplying by the moneyline odds. If they are negative, you calculate your potential profit by dividing 100 by the absolute value of the moneyline odds and then multiplying by your bet amount.
- Calculate Potential Return: After determining the appropriate calculation based on the odds format, you’ll arrive at your potential return. This represents the total amount you stand to receive if your bet is successful, including both your original stake and your profit.
Here are examples for each odds format:
- Decimal Odds Example: You bet $50 at odds of 2.50. Potential Return = $50 (bet amount) x 2.50 (decimal odds) = $125.
- Fractional Odds Example: You bet $100 at odds of 3/1. Potential Return = $100 (bet amount) x (3/1 + 1) = $400.
- Moneyline Odds Example (Positive): You bet $80 at odds of +150. Potential Return = ($80 / 100) x 150 = $120.
- Moneyline Odds Example (Negative): You bet $120 at odds of -200. Potential Return = (100 / 200) x $120 = $60.
Remember that the potential return represents both your original stake (the amount you bet) and the profit you stand to make if your bet wins. It’s important to understand the odds format being used and double-check your calculations to ensure accuracy before placing your bet.