If you’re relatively new to the betting, the massive numbers of different bets you can make can be very confusing. This online guide to the bet types should make things a lot clearer whether it is bets on horse-racing or general sports events.
1. Win Single Bet
With this bet there is simply a single bet on a single selection. For example you may choose to bet on Arsenal winning the Premier League at 12-1. A 5€ bet would win you 60€ (5 x 12) plus your 5€ stake is returned. Your total return therefore is 65€. Your selection has to win to get any return.
2. Win Double
This time you bet on two selections, both of which have to win for you to get any return. Say you put a 5€ win double on Novak Djokovic to win Wimbledon at evens and the 4-1 favourite in the Ascot Gold Cup a few weeks later. If Djokovic wins you have 10€ going onto the Gold Cup. If your second selection wins your return is 50€ (10 x 4 plus the 10 stake). If either selection loses you lose your 5€ stake.
3. Win Treble
This is a popular bet particularly in horse racing and football. It’s the same as the previous two bet types but this time there are three selections. They all have to win for your stake to be returned. For example you may put 5€ on three selections all priced at 2-1. The first wins so you have 15€ going onto the next (5 x 2 plus 5 stake). The next selection wins giving you 45€ going onto the final selection (15 x 2 plus 15 stake). Amazingly the last selection wins too giving you a return of 135€ (45 x 2 plus the 45 stake)
You can put as many selections as you wish in this bet. However many you choose they all have to win if you are to receive any return.
If you are looking for bet types that are a safer option then you can choose what are known as each-way bets. Here you are splitting your bet into two with one bet on the win and another on the place. Say you have a 1€ E/W bet on a selection where there are eight entrants. If your selection is priced at 4-1 your 1€ wins 4€ plus the stake back giving you 5€. The place bet also comes in but at a quarter the odds, so that’s 1€ at evens which wins 1€ plus your stake back equalling 2€. So your 1€ E/W bet returns 5€ for the win and 2€ for the place totalling 7€.
If the selection finishes second or third in that eight-entrant event, your win bet is lost but the place bet wins giving you 2€ back for your 2€ stake.
Where there are only five entrants, you are paid out on the first two places. For at least eight it’s first three and if there is at least 16 entrants it’s first four. With 16 entrants place odds are usually a fifth the odds. Sometimes bookmakers offer to pay on the first five or even six places where there are a lot of entrants, for example horse racing bets such as the Grand National or a Golf tournament.
This bet is just like a treble this contains three selections, the difference is though that you only require one selection to win to receive a return. The bet comprises of three singles, three doubles and a treble. You need to choose a stake for each bet, therefore a 1€ Patent costs 7€ in all (1x 7).
5. Lucky 15
This is a popular horse racing bet and the next step up with this time four selections rather than three. The bet comprises of four singles, six doubles, four trebles and a four-fold.
Lucky 31 and Lucky 63 are other bet types that have a similar format but with five selections and six selections respectively.
This is similar to a Patent but does not include any singles bets. You need two of your selections to win (or be placed if it’s an each-way trixie) for there to be a return. The best comprises of three doubles and a treble.
This bet involves four selections and there are 11 bets. There are six doubles, four trebles and a four-fold.
This is sometimes known as a Super Yankee. It has five selections and there are 26 bets: 10 doubles, 10 trebles, 5 four-folds and 1 five-fold).
Again this bet involves a combination of selections. It has six selections and a total of 57 bets. This is comprised of 15 doubles, 20 trebles, 15 four-folds, 6 five-folds and 1 six-fold.
In this popular horse-racing bet you have to choose six horses competing in the first six races on a race-card. Each selection has to be placed in order for your bet to continue. If there are 5-7 runners you need to finish in the first two, 8-15 in the first three and 16+ the first four. If there are less than five runners in a race your selection has to win. You can use permutations meaning you choose more than one horse in a race. The amount you win is declared after the six races, this is the amount you’d win for a 1€ stake. So if the Placepot paid 3.45€ that is what you’d win for a 1€ stake. If you put 2€ on it’d return 6.90€ and so on.
11. Round Robin
This bet is similar to a trixie as it includes three selections. However this has ten bets: 3 doubles, 1 treble and 3 up-and-down single stakes about pairs (6 bets in all). An up-and-down bet means each part of the bet only proceeds if there is any cash left from the previous part. Tne winning selection guarantees a return unlike in the trixie where two are required.
12. Straight Forecast
With this bet you have to name the first two finishers in the right order. A dividend for a successful 1€ stake is announced after the race.
13. Reverse Forecast
Similar to a Straight Forecast but you win if the selections finish first and second regardless of order. This comprises of two bets A to beat B and B to beat A.
In this bet you have to select the first three finishers in the correct order. Again permutations can be used.
15. Scoop 6
An extremely popular horse-racing bet associated with the races covered on Channel 4 on Saturdays’. There are six races chosen and there are massive dividends for getting all six winners. This is followed by a bonus race dividend the following week.
16. Spread Betting
In this bet you have to decide whether to buy (bet higher) or sell (bet lower) on the spread that has been announced for the event you are betting on. Winnings or losses are calculated in proportion to how right or wrong you are.
17. Tote Betting System
Bets are settled on dividends rather than on starting prices. They can be higher or lower than the starting price declared.
A bet where you have to pick the winners of every race on a selected card. If no one achieves this then the jackpot is carried over onto another meeting the next day.
19. Double Chance
Means you can bet on a team to either win or draw their event. The odds in this type of bet are significantly reduced from that for the win bet.
20. Draw No Bet
With this bet if the event ends in a draw then your bet is null and void and your stake returned.
21. Free Bet
These are often offered by online bookmakers. They often come with terms and conditions attached. These include bets having to be placed at certain odds. Also your stake is not returned to you in a free bet.
22. Cash Out
An increasingly popular type of betting. Some bookmakers give you the option to cash out on your bet before the event is finished. This takes place during In-Play (or In-Running) betting where you can place bets while the event is actually taking place with odds changing all the time. This is a tricky task; do you decide to take a smaller profit fearing your selection might not win in the end? Do you cash out when a side is losing guaranteeing some return?
23. Ante Post Betting
Here you can place a bet on an event that takes place sometime in the future. It could be next Saturday, it could be next year. You can receive better odds by betting this way but there is a degree of risk involved. The general rule is that if your selection does not take part in the event you will lose your stake. Some bookmakers do state that Ante Post bets on non-runners will have your stake returned.
24. Handicap betting
This has become extremely popular in recent years. Sometimes matches are played between teams of varying class, say a rugby union match between New Zealand and Canada. The odds on New Zealand winning would be something like 1-500 so betting really isn’t an option. But a handicap bet would see for example Canada receiving a 40 point start and have odds of evens. You can bet on a win for either side or a draw. Handicap betting is particularly popular in sports such as Rugby Union, Rugby League and American Football.
25. Asian Handicap
This is a handicap bet that allows only two results and eliminates the draw. A team can receive a start of a quarter of a goal or half a goal which means the end result has to be a win for one of the sides taking part.
26. Goal scorer bets
You can choose a first goal scorer or a last goal scorer bet. The advantage with the latter is that your bet can cover the entire match, with the first goal scorer bet your selection could lose in the first minute if someone else scored the first goal. You can also have an Anytime Goal Scorer bet, this means your selected player has to score sometime in the match. It’s a good bet but comes at much reduced odds.