Have you ever thought that you probably should have put money on Manchester United to win the Barclays Premier League? Or maybe even for Barcelona to win the UEFA Champions League?
Well that pretty much sums up an outright bet. An outright bet is to stake/wager an amount on a team/athlete/competitor to win an entire event.
This type of bet has both its advantages and disadvantages, as with any bet type. An advantage is that because you are making a more calculated bet and the bookmakers see this as less risk to them, you will be given significantly larger odds. Therefore maximising your potential winnings!
The disadvantages however is that there is indeed a greater risk to you. In the case of placing an outright bet on the Barclays Premier League, often one season can vary massively to the next, and various events during a season can really change the direction one team is heading in. An example being the January transfer window. Also, at the time of writing this (10th September 2012), for the past three seasons there has been a different Barclays Premier League winner.
If however, you fancy yourself as a bit of an expert when it comes to a tournament or competition, winning an outright bet is arguably one of the most satisfying bet types.
Outright Bet Pros and Cons
- Much higher odds than single match/event bets
- Easier to win than your regular bet
- Hedge bet with betting exchanges by laying
- Not all bookmakers accept / offer these bets
- Generally not a lot of outright bets offered on smaller leagues
- Long wait for bet to settle – depending on season duration, etc.