Ok so you have found a few bets that you would like to have a punt on, you add them to your betslip and now you’re faced with a choice… What Bet Type do you go for? Essentially, bets fall into two categories – they can be played as either singles (1 selection) or multiples/combos/system (more than 1 selection). We’ll go through all the various bet types you can place and see when you would be more likely to use them.
A single is one bet on one outcome of a game. If this outcome happens, your bet wins. If it doesn’t, your bet loses – in some cases it can be cancelled therefore the bet is Void (you get your money back). Generally singles are the most popular bet type and it is the most popular bet type that punters use.
As you can see in the image above, the punter has chosen the Nottingham Forest v Barnsley match to bet on. The selection is Nottingham Forest and the Bet Type is ‘Match Odds’ (which means to win the match). The odds are 2.7, therefore the return of the £50 bet if Nottingham Forest win would be 50 x 2.7 = £135.
Each Way bet
An Each Way bet type is typically used on Horse Racing. This bet type is equally split into 2 separate bets. The first part of the bet is for the selection to Win and the second part of the bet is for the selection to Place (finish within a certain position). An Each Way bet is traditionally used when you think that a selection has a great chance to do well but not necessarily confident enough for you to bet on it to win.
If the horse/selection Wins then both bets are paid out. If the horse/selection doesn’t win but comes within the stipulated position for the Place markets then the Place part only is paid out.
As you can see in the bet above, a horse called ‘Blame Roberta’ has been selected and the Each Way (EW) options has been ticked. The Place rules in this case are that the horse will place if it finishes in the top 3 positions and it will pay out 1/5 (one fifth) of the odds for the place part.
If the horse wins, £410 would be paid out
If the horse places (comes 2nd or 3rd) then £85 would be paid out
Multiple (Accumulator)/System Bets
What the following have in common is that you would need to select more than one event to bet on to be able to place these bet types.
A Multiple (can also be referred to as ‘accumulator’) is a bet where you have more than one selection in your betslip and you need all outcomes to win for your bet to pay out a return.
A System Bet is where you can place multiple bets on a series of selections in order to reduce risk and maximise the potential gain. Unlike a Multiple bet, not all selections need to win to ensure a profit.
Below are some of the most popular Multiple and System bet Types:
A Double is a bet that contains two selections and neither selection can lose for your bet to be deemed a ‘winning’ bet. Doubles are a popular betting type which usually involve more risk than a Single (as there are more selections to the bet).
The odds of a double bet are calculated by multiplying the odds of the two selections together. If you look at the betslip above, Nottingham Forest are 2.7 and Liverpool are 1.47 individually. The double odds are 3.97, so for a £/€10 bet you would get £39.70 returned. What the betslip also highlights is that you can place more than one bet type on the same betslip. In this case there are 2 singles and 1 double.
A Treble is a bet that contains three selections and no selection can lose for your bet to be deemed a ‘winning’ bet. Trebles are a popular betting type which involve more risk than a Single (as there are more selections to the bet). In the example below we have Nottingham Forest @ 2.7, Liverpool @ 1.47 and Cardiff @ 2.62 and the odds for the Treble are 10.42 (2.7 x 1.47 x 2.62). For a £/€15 bet the return would be £/€156.3 should all three teams win.
A Trixie Bet is a 3 selection wager consisting of 4 bets: 3 doubles and a treble.
Let’s imagine the teams are called A, B and C then the 4 permutations of the bet would be as follows:
AB, AC, BC, ABC
A Patent bet is a 3 selection wager consisting of 7 bets: 3 singles, 3 doubles and a treble. In simple terms it is a trixie with 3 single bets added to each selection. You would need one of the three team to win to have a return on the bet.
Let’s imagine the teams are called A, B and C then the 7 permutations of the bet would be as follows:
A, B, C, AB, AC, BC, ABC
A yankee is a 4 selection wager which is made up of 11 bets: 6 doubles, 4 trebles and a four-fold accumulator. The origin of the term ‘yankee’ is rumored to be named after an American soldier who placed a small bet in the UK and won back hundreds of thousands due to the nature of the bet.
Let’s imagine the teams are called A, B, C and D then the 11 permutations of the bet would be as follows:
AB, AC, AD, BC, BD, CD, ABC, ABD, ACD, BCD, ABCD
A lucky 15 is a 4 selection wager that consists of 15 bets: 4 singles, 6 doubles, 4 trebles and a four-fold accumulator. It is effectively the same as a yankee with 4 singles added.
Let’s imagine the teams are called A, B, C and D then the 15 permutations of the bet would be as follows:
A, B, C, D, AB, AC, AD, BC, BD, CD, ABC, ABD, ACD, BCD, ABCD
A Canadian bet is a wager on 5 selections that consists of 26 bets: 10 doubles, 10 trebles, 5 four-fold’s and a five-fold accumulator. Some people call this bet type a Super Yankee.
Lucky 31 Bet
A lucky 31 is a 5 selection bet that consists of 31 bets: 5 singles, 10 doubles, 10 trebles, 5 four-folds and a five-fold accumulator.
A Heinz bet is a 6 selection bet that consists of 57 bets: 15 doubles, 20 trebles, 15 four-folds, 6 five-folds and a 1 six-fold accumulator. It is named after the food product Heinz which is said to have 57 varieties.
Lucky 63 Bet
A Lucky 63 is a 6 selection bet that consists of 63 bets: 6 singles, 15 doubles, 20 trebles, 15 four-folds, 6 five-folds and a six-fold accumulator.
A goliath bet is an 8 selection bet that consists of 247 bets: 28 doubles, 56 trebles, 70 four-folds, 56 five-folds, 28 six-folds, 8 seven-folds and an eight-fold accumulator
Combination or System bets
Combo or System bets are a way of tailoring your bet which has a number of selections. Let’s for example put 10 teams on a betslip. You can the see as per the image below the different combinations or permutations available to bet on. So in 10 selections there are 10 x 9 folds, 45 x 8 folds, 120 x 7 folds and so on. You can select any of these or a combination of them to bet on.
Stop at a Winner Bet
A Stop at a Win Bet also known as SAW is a bey type that does what is says – it stops as soon as you have a winning bet and is usually used on horse racing. You select a number of horses, select how much you want to bet and as soon as a horse wins, the bet stops.
An alphabet bet used to be a popular bet type but isn’t as popular today. It consists of 6 selections with 26 bets which are broken down as shown below.
Three singles on selections 1, 2 and 3.
Three doubles on selections 1, 2 and 3.
One treble on selections 1, 2 and 3.
Three singles on selections 4, 5 and 6.
Three doubles on selections 4, 5 and 6.
One treble on selections 4, 5 and 6.
Six doubles on selections 2, 3, 4 and 5.
Four trebles on selections 2, 3, 4 and 5.
One fourfold on selections 2, 3, 4 and 5.
One accumulator on selections 1, 2, 3, 4, 5 and 6.
Next step: read all about Bet Market Types here.