Betting shops offer different types of bets, which differ in the number of outcomes and how they are calculated. The most popular bets are the single and the parlay, each of which is calculated according to specific rules.
Single
A single bet is a single bet containing the possible outcomes of one event. The bettor chooses an event in the line with a specific odd, then bets and wins if the selection is successful. Winning amount = bet amount * odds.
Example: a user bets $3000 on a Real Madrid win at odds 2.14 against Barcelona and if Real Madrid win, the player receives the $6420 payout ($3000 * 2.14), while if Barcelona win, the bettor receives nothing.
The single is a simple and safe bet: the player only predicts one outcome in a particular match. The disadvantage of single bets is the small odds.
Express bet
An express bet combines more than two outcomes predicted by the bettor. These combinations of single bets attract the users by offering higher odds, as the odds for an express bet are multiplied.
For example, if the player predicts the outcome of two football matches – victory of Real Madrid in the match against Barcelona at odds 2.14 and that of Juventus against AC Milan at odds 2.0, the odds for the express bet will be 4.28. In case the prediction is correct, his/her stake will be multiplied by 4.28.
Thus the advantage of express bets is the higher odds, the disadvantage is that if the player loses at least one event, the whole bet loses and he loses his money. If there are many events in a Parlay, the odds of all events winning are minimal.
Some beginners include many events with minimum odds in a parlay, believing that the favourites will surely win and the winnings will increase due to the multiplication of the odds. However, this approach does not guarantee a win at all. For this reason, you should not make huge express bets without knowing how to correctly analyse sports and other events.