Singles
The most common betting type is single. That means you simply bet on the outcome of one event. That doesn’t have to be a home win, away win or draw bet in a match as there are many single betting options available. If you bet on the first goalscorer, the winner of a song contest or a skier to finish first, that is also a single bet.
It is easy to calculate the winnings from a single bet. Just multiply the stake with the odds and you get your total winning. If you bet £10 on a single bet with the odds 2.5 (decimal), 10 x 2.5, you get a total winning of £25. Net profit is 25- 10 = £15.
Summary: A single bet is a bet on one outcome.
Doubles, trebles and more
If you bet on two outcomes or more, it is called an accumulator. A bet on two outcomes is called a double. For you to win, both outcomes have to be correctly predicted.
To calculate your winnings: Say that you bet £10 on a double with the odds 2.5 and 2.0 (decimal). Then you multiply the two odds, 2.5 x 2.0 = 5.0, to get the total odds. Then you multiply it with your stake to get your total winnings; 5.0 x £10 = £50, which is hopefully straightforward.
If you chose to bet on three outcomes, it is called a treble. Usually you can make accumulators with as many as 10 different outcomes. But remember, each one has to be a win.
Long term and short term bets
A short term bet is the most common form. If the event is finished within in a week, I would call it a short term bet. If on a Tuesday you place a bet on Chelsea to win on Saturday that is short term bet.
If before the season starts, or a short time into the season, you bet on Chelsea to win the Premier League that is called a long term bet. You can already bet on who will win the World Cup 2010, but remember that your money will be locked for a long time.
The most common betting type is single. That means you simply bet on the outcome of one event. That doesn’t have to be a home win, away win or draw bet in a match as there are many single betting options available. If you bet on the first goalscorer, the winner of a song contest or a skier to finish first, that is also a single bet.
It is easy to calculate the winnings from a single bet. Just multiply the stake with the odds and you get your total winning. If you bet £10 on a single bet with the odds 2.5 (decimal), 10 x 2.5, you get a total winning of £25. Net profit is 25- 10 = £15.
Summary: A single bet is a bet on one outcome.
Doubles, trebles and more
If you bet on two outcomes or more, it is called an accumulator. A bet on two outcomes is called a double. For you to win, both outcomes have to be correctly predicted.
To calculate your winnings: Say that you bet £10 on a double with the odds 2.5 and 2.0 (decimal). Then you multiply the two odds, 2.5 x 2.0 = 5.0, to get the total odds. Then you multiply it with your stake to get your total winnings; 5.0 x £10 = £50, which is hopefully straightforward.
If you chose to bet on three outcomes, it is called a treble. Usually you can make accumulators with as many as 10 different outcomes. But remember, each one has to be a win.
Long term and short term bets
A short term bet is the most common form. If the event is finished within in a week, I would call it a short term bet. If on a Tuesday you place a bet on Chelsea to win on Saturday that is short term bet.
If before the season starts, or a short time into the season, you bet on Chelsea to win the Premier League that is called a long term bet. You can already bet on who will win the World Cup 2010, but remember that your money will be locked for a long time.
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