What is a win bet?
When you place a win bet, you bet on the winner of a certain sport event - how else should it be -, independent of how many different possible outcomes there are or how many teams or athletes participate. A win bet can always be placed, when there will be an explicit winner, either a team or a single player - no matter which competition or race it is. A simple example: You want to bet on race winner Sebastian Vettel at the Formula 1 Grand Prix of Monaco. The bookie lists netting odds of 6,50 for this event. So, profit can be calculated pretty easily: The betting stakes are being multiplied with the odds. If you bet 10 €, you would get 65 € in the case of a won betting tip. Generally, it can be said, that win bets are a very lucrative betting form. One shouldn't neglect the big factor of uncertainty though.
Where are win bets used?
Win bets can always be used, when a sport event allows for an explicit winner. Naturally this is possible in very many cases - either a winner of a Formula 1 race, a darts duel or a Tour-de-France stage. The term win bet still often is not that common in the field of sports betting - here you can tell that the term still is firmly established in race sport. In football you usually don't speak of a win bet, even though you often bet on the winner of a football match. In this context, you rather speak of a result or tendency bet, of "betting on victory" or "betting on draw" according to the known model 1X2 (3-way-bet). The principle of the bet and the profit calculation work the same way in this case though. Additionally, win bets are also used in long term bets of course. For example, you can bet on the winner of the Champions League or the German Bundesliga before the season kicks off with different betting providers. The higher risk is being rewarded with high betting odds. If you place a bet on the World Cup winner before the tournament, you can expect betting odds of 20,00 or even higher for teams from the extended group of favorites like Italy or England.
The "opposite" of the win bet - The place bet
The term stems - how could it be otherwise - from horse race sport too. Traditionally you bet on a certain horse finishing on the first three or four places. Logically place bets are therefore uncommon in other sports. In the field of motor sports too, win bets or head-to-head bets are more common and classic place bets can hardly be found. The principle of this betting form can still be converted to other sport events to some extent: Cup formats like the Champions League or great events like a European or World Cup allow following bets: Which teams will make it to the semi final or final? or: How far will a certain team go in the tournament? Will a team be eliminated in the group stage, in the round of top 16, the quarter final or semifinal or will they even make it to the final? Specific bets that can be called "place bets" in the wider sense, would be to tip the first five teams of the final ranking of the German Bundesliga or "will Bayer Leverkusen finish among the top 6 of the ranking?"