Single Game Betting
Single-game betting is likely the first bet you’ll come across. There are all sorts of fancy and exotic wagers on the sportsbook’s board. Single-game betting still holds up as one of the best options.
Breaking down Single-Game Bets
The first option you see on most betting boards when you select a sport is the available single-game bets for each of the games in action. There are three types of bets you can place on a single-game; the moneyline, the spread, and the total.
As an example, the Denver Broncos are hosting the New England Patriots and the Patriots are a small favorite to win on the road.
The moneyline would be listed as New England (-130) vs. Denver (+110). A bet on the moneyline is simply a bet on which team will win the game. The “-” before a number on the moneyline indicates that the number following it is how much you would need to bet to win $100. In this instance, a bet of $130 on New England to win would pay out $100. The “+” before a number tells you how much you would win if you bet $100 on that side and won. So at +110, betting on Denver translates to a payout of $100 to win $110.
The spread is a point handicap between the two teams to help make the odds more even. In this example, the spread would be listed as New England (-2, -110) vs. Denver (+2, -110). Now both sides are bet $110 to win $100 propositions, but a bet on New England -2 must win by three points or more to cash. A bet on Denver +2 wins if Denver wins the game outright or loses by one point. If New England wins by two points, this bet would be a push.
How Over/Unders work with Single-Game Betting
Lastly, the total, also known as the Over/Under, is a bet on how many total points will be scored in the game. For instance, the total in New England at Denver might be set at Over 48.5 (-110) vs. Under 48.5 (-110). A bet on the Over 48.5 is a bet that the final score will be 49 points or more, while a bet on the Under 48.5 is a bet that the final score will be 48 points or less.
Just because the line indicates what a $100 bet unit would pay does not mean you have to bet exactly $100. A -110 wager would also work if it were $660 to win $600 or $55 to win $50, the payout ratio just stays the same. Similarly, a $30 bet at +130 would pay $39, while a $1000 bet at +130 would pay $1300.
All single-game bets are final once the bet is confirmed. Odds on the moneyline, spread, and total can change leading up to game-time due to many different factors. The number that you got when you placed the bet is locked in regardless of what that number is at by the time the game begins.
What are the Advantages of Single-Game Betting?
One of the biggest advantages to single-game betting is their simplicity. There is a learning curve when you are first getting started, but once you get the hang of how single-game bets work, they are extremely easy to understand and to wager on.
Not every sports fan is going to understand the intricacies of how to handicap a complicated prop bet or teaser bet. But even the most casual sports fan can develop an opinion on how a game will go based on his or her knowledge of the sport.
A New York Yankees fan is going to have a good idea about the state of the team’s bullpen and starting pitchers. With this knowledge alone, even the casual fan can make an educated guess on a single-game bet.
Another advantage to single-game bets is that there are no stipulations or complications attached to them. For example, you think the Devils, Kings and Penguins are going to win on Tuesday night. If you parlay these three teams together, you would need all three teams to win to win this bet. If one of the three lose, the entire wager a loser.
You don’t run into any of these problems when you make a single-game bet. Each game is its own event, so on a day you make three plays and go 2-1, you still book a small profit.
At a spread price of -110, bettors only need to pick winners at a rate of 52.5% to be profitable in the long run. By not complicating things with tricky plays, a solid sports handicapper can enjoy this hobby and make some money just betting on single-games.
Single-Game Betting won’t Make you Rich Quickly
While there isn’t really much of a downside to betting on single-games, one perceived weakness in single-game betting could be the fact that you have to bet a lot to win a lot.
For bettors with modest bankrolls, there isn’t really a path to a quick, big profit with single-game betting. Parlay bets, on the other hand, are much more risky, but also much more rewarding on the rare instances that they hit.
Let’s say you’ve capped the college football board and you like USC -17, Oregon -11, BC +8.5 and Houston +3.5. You make single-game bets on all four of these sides at -110 each, wagering $55 to win $50 on all four.
All four hit! You collect your well-earned $200 on these four wins. But say, instead of wagering a total of $220 to win up to $200, you had instead bet a $200 parlay on those four teams. A 12-to-1 payout on this $200 parlay would net you a profit of $2400! This is a substantial sum that could take months of strong handicapping to achieve.
Now keep in mind, this is an extreme example where you happened to go exactly 4-0. Parlays only pay out if every single leg of the parlay hits. The single-game bettor that bet $55 to win $50 on each game would profit $95 on a 3-1 day, lose $10 on a 2-2 day, lose $115 on a 1-3 day or lose $220 on an 0-4 day. The $200 parlay bettor would lose his entire $200 on a 3-1 or 2-2 or 1-3 day.
What is Bet Sizing in Single-Game Betting?
After you’ve determined you’re going to place a single-game bet, the last step is deciding on a bet size. Once again, there is no right or wrong answer here, and it comes down entirely to your strategy.
Larger wagers make sense if you are trying to run up a big profit and then cash out. For example, on a deposit of $500, you could bet $100 per game. If you happen to have a 10-5 week, you will show a very nice profit. Of course on the other hand, a 5-10 week would doom you.
A more conservative bettor with that same $500 deposit might consider bet sizing of $25 per wager. In the event of a 10-5 week, this bettor will only win a quarter of what the big bettor made. But he’ll also lose only a quarter of what that bettor did. This puts the conservative player in better position to outlast cold streaks.
There isn’t a right way or a wrong way to bet on sports. There are plenty of options for bettors who go for broke with high-risk plays. Single-game betting is a good option for players who are fine with small gains over a prolonged period. There are pros and cons to both options.
Regardless of how you bet, you should always keep single-game bets on your radar. These simple wagers can help convert your hunches and research into winners.