That would eventually free up more room as the male betta would kill the 3 females as well as the 5 guppies.
In the tank you have, you really don't have room for a "big" fish. Of course, that depends on your definition of big I guess. A tank your size really isn't suited for any fish that grows to more than about 5 or maybe 6 inches. Also, most fish that are larger and can be kept singly will also eventually eat your smaller fish.