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If you are new to the betting world and want to make yourself aware of the industry ins and outs, this article is for you.
Here, we will talk about the different types of bets that you will find in a sportsbook.
Single
Contents
This is the bet placed on win, on any event, race, or sports. It is the most common and simple type of bet. An example would be, Argentina to win in a match with Spain.
Double, Treble, Four-Fold Accumulators
This is a combination of two different bets that you have placed on two different events. Treble is when you have placed a bet on 3 different events, and so on. In accumulator bets, all the selections you have placed a bet on should win for you to win the bet.
Trixie
Select 3 events to bet on, and create four different bets with the combination of these three events. Of these four bets, 3 have to be double and the fourth one must be a treble. Sounds confusing? Let’s break it down in the following example –
For example, if you have selected event X, Y, Z, then the Trixie bet would be XY, XZ, YZ, and XYZ. To win in a Trixie bet, at least two of the selections must come true. If you have taken a €1 Trixie bet, it would cost €4 in total. This becomes double if you have placed a Trixie bet each way, so, €8.
Each Way
You are betting on an event to win or placed. This is usually for racing events, where the concept of ‘placed’ comes. The win means your racer finishes in the first place. However, to place means, they can finish in the second, third, or fourth place. When you place an each-way bet, you will get the full return on win in case your racer wins. And in the placed bet, you will get 1/5th (for example only, the stake may vary) of the odds of the win.
For example, when you are placing a stake of €1 each way, the cost of the bet will be €2. €1 to win, and €1 to place. If your racer ends up winning, then the horse will win at say 5/1 odds (the odds will depend on your sportsbook). That means you will win the first part of the bet – to win and get €5 on the win amount with €1 of the original bet amount. A total of €6.
On the second part of the bet, let’s say the stake is 1/5th. This means the odd becomes 5/1 * 1/5 = 1/1
So, you get a €1 winning amount, as well as the original bet of €1. So, a total of €2 on the placed part.
The total amount of bet winning will be €6 + €2 = €8.
Number of Placed Positions
You can place a bet for placed positions on the each-way bet, or individually. The placed positions are usually categorized as below.
- 2nd to 4th place – cannot place an each-way bet for these.
- 5th to 7th place – payout on the first two places.
- 8th or over – payout on the first 3 places.
- 16 or over – payout on the first 4 places.
Patent
This is a step higher than the Trixie bet. In place of 3 events and 4 bets, you have 3 event selections and 7 bets. Of them, 3 must be single, 3 double, and one treble. So, if the events are X, Y, X, you have bets as, X, Y, Z, XY, XZ, YZ, and XYZ.
A €2 Patent bet would cost €14. Even one selection is successful, you will get a guaranteed return.
Yankee
Just like Trixie and Patent bets, here are selections and several bets. The number of event selections is 4, and the number of bets is 11. Of them, 6 must be doubles, 4 trebles, and a fourfold bet. If your selections are P, Q, R, S, your bets would be PQ, RS, PR, PS, QR, QS, PQR, PQS, QRS, PRS, and PQRS. You must have at least two of your selections be successful to get a return guarantee. A Yankee bet of €3 will cost €33.
Lucky 15
Same as Yankee, but instead of 11 bets, you have 15 bets. Of them, four must be trebles, six doubles, four singles and a fourfold. So, your bets would be P, Q, R, S, PQ, RS, PR, PS, QR, QS, PQR, PQS, QRS, PRS, and PQRS. Only one selection win will give you a return guarantee. A €5 lucky bet will cost you €75.
Canadian or Super Yankee
5 selections of 26 bets, of which 10 doubles and 10 trebles, 4 4-folds, and 1 5-fold accumulator bet.
Lucky 31
A wager placed with a selection of 5 events and 31 bets. The complete et should have 5 singles, 10 doubles, 10 trebles, 5 4-folds, and 1 5-fold. You should have to win on only a single selection to get a guaranteed return. A Lucky bet placed at €2 would cost a total of $62.
Heinz
There are a total of 57 bets in a selection of six events. Of them fifteen must be doubles, twenty should be trebles, 15 of them should be 4-folds, 6 should be 5-folds, and a single accumulator of 6 folds.
Lucky 63
There is a total of sixty-three bets on a selection of 6 events. This includes 6 single bets, twenty trebles, fifteen doubles, fifteen of them are 4-folds, six of them are 5-folds, and a single 6-fold accumulator bet.
Goliath
In this type of bet, you have a total of 8 selection events. You have to make a combination of 28 doubles, 56 trebles, 70 4-folds, 56 5-folds, 28 6-folds, 8 7-folds, and a single 8-fold accumulator bet. You only have to have two of your selections win to get a guaranteed return.
Alphabet
There are six selection events in this bet, through which you have to create a total of 26 bets. However, the difference is that you have to create two patent bets, a Yankee bet and a 6-fold accumulator bet.
This is an ideal bet to use when creating a new account at an online bookmaker.
Single Stakes About
A single stake about bet is known as any to come. This is because you select two events and then make two bets that are created from these single bets. If you get a return on any of the single bets, the return (up to the stake amount of your single bet) will be used to fund another single bet on the selection.
Forecast
Forecast races are usually applicable to races only. If it is a horse race, you can select the first two horses ranking correctly. The forecast betting has a single unit stake applicable, which means if the forecast return is declared as 12, then you will get 12 for every €1 you spend, or equivalent currency. The reverse forecast bet is when you select two racers, but they don’t have to be in any correct order.
Round Robin
In Round Robin, you can select from 3 events. Then you make 10 bets comprised of the selected events. In this, if the events you have selected are X, Y, Z, then your bets will be XY, YZ, XZ, XYZ, and with this, you have 3 up and down single stakes of pairs.
Double Stakes About
This is pretty similar to the single stakes about, except the return from each of the single,up to twice the stake amount of the original is used as a fund for the single which is in the other selection.
Flag
This type of bet is created with a combination of 6 double bets, 4 trebles, 1 4-fold, and 6 up and down Single Stake About bets. The flag bet is a type of bet which allows you to add to on any to come bets. These bets can become truly complex and the winnings that come out of a flag bet are impossible to calculate manually. Fortunately, all sportsbooks will calculate the winnings for you automatically. There are also many free calculators to do the same for you. Some other flag bets are super Heinz flags, Heinz flags, super flags, etc.
Union Jack
This bet is a combination of a total of eight trebles from 9 event selections. You can choose to group these events in a grid layout of 3 by 3.
Placepot
The placepot bet is when a racer is selected in a racecourse for the first six races that happen in a day. You have a combination of the pool. The racer has to win every single one of the bets you have placed in the placing you have chosen. You have to win all 6 of these bets or you don’t win.