Bet Variations

>> Bet types

Win, Each Way and Lay are the three main bet types but there are a few variations on these:

Handicaps | Place | Multiple | Patent | Trixie | Yankee | Lucky 15 | Canadian | Heinz

>> Handicaps

Handicaps are essentially win bets but you are betting on a result after it has been adjusted by a handicap. For example in a game where one side is HUGELY outclassed by the other side. The bookies would offer very short odds, say:

Team A 1-25

Team B 16-1

However to make it more interesting the bookies work out a points handicap which makes the game fairly even.

Team A - 6 4-5

Team B +5 5-6

So both teams are priced at odds of just under 1-1 and the winner is based on the final score, adjusted by some points.

In this example if you bet on Team A -6 then if Team A win by 7 or more then you win.  If Team A win by 5 or less, then you lose.  If Team A win by exactly 6 then it would be a "Handicap Tie".  If the bookmaker had offered the handicap tie as an option, then your bet would lose, however if they had not then you would get your money back. 

>> Place only bet

Until recently the only way to make a Place bet was for it to be part of an Each Way bet. Obviously this wasn't ideal as you also had to back it to win as well. Now some bookmakers such as Betfair allow you to bet on a horse to place at fixed odds.

>> Multiple bet

As the name suggests a multiple bet is when you combine several bets so that they all have to win for you to win. The consequence is that its much harder to win, but as the odds multiply up, the returns can be huge.

• Doubles - A combination of two bets where both need to win for you to win
  
  
• Trebles - A combination of three bets were all three need to win for you to win
  
  
• Accumulators - Combinations of 4+ bets where they all have to win for you to win.

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>> Patent

A Patent is a mixture of multiple and single bets based on three selections. Basically it is seven equal bets divided as shown below:

• 3x single (normal win) bets - one on each selection
  
  
• 3x doubles - each combination of two from the three selections
  
  
• 1x treble on one of the three selections

With this bet only one selection has to win for you to receive a return.

>> Trixie

A trixie is a 3 selections bet like a Patent but without the 3 single bets.  Hence there are 4 bets in a Trixie

• 3x doubles - each combination of two from the three selections
  
  
• 1x treble on one of the three selections

A minimum of two selections have to win for you to receive a return.

>> Yankee

A Yankee is similar to a Patent only with 4 selections and no single bets, there are 11 bets in total:

• 6x doubles
  
  
• 4x trebles
  
  
• 1x accumulator of all 4

A minimum of two selections have to win for you to receive a return.

>> Lucky 15

A Lucky 15 bet is a 4 selection bet like a Yankee but it also includes bets on the 4 singles.  As the name suggests There are 15 bets in total:

• 4x singles
  
  
• 6x doubles
  
  
• 4x trebles
  
  
• 1x accumulator of all 4

Only one selection has to win for you to receive a return.

>> Canadian

Another full-cover multiple bet, this time with 5 selections from 5 different events. A Canadian has 26 bets - 10 doubles, 10 trebles, 5 fourfolds and one accumulator. A minimum of two selections have to win for you to receive a return.

>> Heinz

A full-cover multiple bet, this time with 6 selections from 6 different events. A Heinz has 57 bets - 15 doubles, 20 trebles, 15 fourfolds, 6 fivefolds and one accumulator. A minimum of two selections have to win for you to receive a return.