BET TYPES EXPLAINED

For those new to betting, best free bets explains the basic types of bets offered by online bookmakers.

SINGLE BET, WIN or EACH-WAY

The simplest and most popular method of betting is for the bettor (or punter) to choose an outcome of an event (more commonly known as a market) and place a bet at the odds offered by the bookmaker.

This is known as a win single and if your selection is successful the bookmaker will multiply the stake you risked by the odds accepted and pay it back into your account along with your stake money.

For example, you bet £20 at odds of 1/2 (1.5) on Roger Federer to win his tennis match against Andy Murray. If Murray wins you lose your stake, if Federer wins you will be paid as follows:
£20 x 1/2 = £10 plus your £20 stake = £30 returned to your account.
In the decimal calculation just multiply your stake by the decimal version of the odds offered:
£20 x 1.5 = £30 returned to your account.

In some events (or markets) there are many possible outcomes and bookmakers may allow you to make an each-way selection, giving you the chance of a return on your bet even if your selection doesn’t win but is ‘placed’.

In reality, you will be placing two bets, one for the selection to win the event and the other bet to be placed so an each-way bet will cost double the stake, therefore £5 each-way will cost £10.

For such events the bookmaker will advertise how many places will qualify for each-way bets on the event and how the odds will be affected.

In a nine-runner horse race the bookmaker will offer ‘Each-way 1/5 odds a place, 1,2,3’. This means the place part of your bet will be successful if the selection finishes 1st, 2nd or 3rd and you will receive 1/5th of the win odds for the place part of your bet. The win part of your bet will be at the full odds accepted.


For example, you bet £5 each-way at odds of 8/1 on a selection at each-way terms of 1/5 odds a place 1,2,3.
If your selection finishes 2nd or 3rd you will lose your win stake but the place part of the bet is successful at odds of 8/5 (8/1 x 1/5).
You will receive £5 x 8/5 = £8 plus your £5 place stake = £13 returned to your account.
If the selection wins, you will receive £5 x 8/1 = £40 plus your £5 win stake = £45 in addition to the £13 already calculated for the place part of your bet.

ACCUMULATORS

In an attempt to win bigger amounts, some punters like to predict the outcome of more than one event and let the winnings roll up onto the next selection. You risk a single stake unit but all of the selections must win otherwise the bet is a loser. Accumulators can be bet each-way, which will cost double and every selection must meet the place criteria to get a return.

Accumulators have various names depending on the number of selections chosen:
Double – 2 selections
Treble – 3 selections
Four-fold – 4 selections
Five-fold – 5 selctions
Six-fold – 6 selctions etc.

MULTIPLE BETS

Another popular way to bet is to apply a permutation of bets for the selections chosen to form a multiple bet. This may involve a perm of every type of bet possible from the amount of selections or you can devise your own staking plan.
Standard multiple bets involve permutations at the same unit stake for each bet in the permutation;

Trixie
A trixie consists of four bets on three selections in different events, i.e. 3 doubles and 1 treble. NB. A £1 Trixie costs £4.
Patent
A patent consists of seven bets on three selections in different events i.e. 3 singles, 3 doubles and 1 treble. NB. A £1 Patent costs £7.
Yankee
A yankee consists of eleven bets on four selections in different events i.e. 6 doubles, 4 trebles and 1 four-fold accumulator. NB A £1 Yankee has a total stake of £11.
Lucky 15
A Lucky 15 consists of fifteen bets on four selections in different events i.e. 4 singles, 6 doubles, 4 trebles and 1 four-fold accumulator. NB A £1 Lucky 15 has a total stake of £15.
Canadian/Super Yankee
A Canadian/Super Yankee consists of twenty-six bets on five selections in different events i.e., 10 doubles, 10 trebles, 5 four-folds and 1 five-fold. NB A £1 Canadian/Super Yankee has a total stake of £26.
Lucky 31
A Lucky 31 consists of thirty-one bets on five selections in different events i.e., 5 singles, 10 doubles, 10 trebles, 5 four-folds and 1 five-fold. NB A £1 Lucky 31 has a total stake of £31.
Heinz
A Heinz consists of fifty-seven bets on six selections in different events i.e. 15 doubles, 20 trebles, 15 four-folds, 6 five-folds and an accumulator. NB A £1 Heinz has a total stake of £57.
Lucky 63
A Lucky 63 consists of sixty-three bets on six selections in different events i.e. 6 singles, 15 doubles, 20 trebles, 15 four-folds, 6 five-folds and an accumulator. NB A £1 Lucky 63 a total stake of £63.
Super Heinz
A Super Heinz consists of one hundred and twenty bets on seven selections in different events i.e. 21 doubles, 35 trebles, 35 four-folds, 21 five-folds, 7 six-folds and an accumulator. NB A £1 Super Heinz has a total stake of £120.
Goliath
A Goliath consists of two hundred and forty-seven bets on eight selections in different events i.e. 28 doubles, 56 trebles, 70 four-folds, 56 five-folds, 28 six-folds, 8 seven-folds and an accumulator. NB A £1 Goliath has a total stake of £247.

SPECIALS (or PROPOSITIONS)

You will often come across bookmakers offering odds for a special eventuality sometimes called a proposition. A typical example would be odds for snow on Christmas Day; bookmakers can get a lot of interest in some of these special bets which are often topical and quite good fun.

Find out more information in best free bets’ Betting Guide

How to get free bets

How to choose a bookmaker

How to open an online betting account

Betting terminology (A-Z)

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