Looking for a basic understanding of every type of bet you’re likely to encounter? This list will help you.
Article Contents
Basic Bet Types
Win
A ‘win’ bet is the simplest type to understand. You simply bet on a specific participant (sportsperson, horse, team) to win an event. If it doesn’t win, your stake is lost. If it does win, you’ll get paid out at the quoted odds.
Place
A ‘place’ bet, also known as a ‘place only’ bet, is a popular bet type in horse racing, greyhound racing, as well as ranked tournament sports such as golf. You bet on a specific participant to finish within the top places of a race or tournament, rather than to win outright. If the participant finishes within the ‘places’ defined by the bookmaker or exchange, the bet wins. If the participant fails to finish within the places, the bet loses.
For most races, places are set to the top 2 or top 3 positions. But for larger races with more runners, the top 4 positions may qualify.
Most bookmakers only offer racing place bets as part of an each way bet (see below). However, place-only markets are available at betting exchanges.
Learn more about Place only bets.
Each Way
An Each Way (EW) bet is essentially two separate bets of an equal stake: a win bet and a place bet. This means you receive the maximum return if your selection wins (both the win and place parts succeed). You’ll receive a partial win if your selection fails to win but still places (only the place part wins). If your selection fails to place, then you lose both parts of the bet.
Winnings on the place part of the bet are calculated according to an each way fraction (usually 1/4 or 1/5, depending on the number of runners). The fraction is multiplied by the odds available for the runner in order to set the place odds for the payout.
Learn more about Each Way bets.
Single & Multiple Bets
Single
A single bet is the most common bet type, because it’s the simplest. It’s when you bet on one outcome of an event, rather than multiple outcomes (which form a double/treble/accumulator). For example, a football team to win a match, or a horse to win a race. Single bets can involve both simple and complex betting markets.
Double
A double bet combines two different selections into one bet. Your double wins only if both selections win. If either loses, the whole bet fails.
Doubles are harder to win than singles — but the payout is higher. The combined odds are calculated by multiplying together the decimal format of the first and second bet. For example, if your bets are placed at odds of 3/1 (4.0) and 6/1 (7.0), you’ll create combined odds as follows: 4.0 x 7.0 = 28.0. So if you place a £10 bet, the winnings will be calculated as £10 x 28.0 = £280 (£270 profit).
Treble
A treble bet combines three different selections into one bet. Your treble wins only if all three selections win.
Trebles are riskier than doubles and singles, because the chance of winning becomes lower as you add more bets. The combined odds are calculated by multiplying together the decimal format of all three bets. For example, if your bets are placed at odds of 3/1 (4.0), 6/1 (7.0), and 2/1 (3.0), you’ll create combined odds as follows: 4.0 x 7.0 x 3.0 = 84.0. So if you place a £10 bet, the winnings will be calculated as £10 x 84.0 = £840 (£830 profit).
Accumulator
An accumulator bet is the same as a treble, except that it combines four or more different selections into one bet. Your accumulator wins only if all selections win.
Accumulators or “accas” are risky, because the chance of winning is low. The combined odds are calculated by multiplying together the decimal format of all the selections. For example, if your bets are placed at odds of 3/1 (4.0), 6/1 (7.0), 2/1 (3.0), and 1/1 (2.0), you’ll create combined odds as follows: 4.0 x 7.0 x 3.0 x 2.0 = 168.0. So if you place a £10 bet, the winnings will be calculated as £10 x 168.0 = £1,680 (£1,670 profit).
Learn more about Accumulator bets.
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Full Cover Bets
Trixie
A Trixie bet is a multiple involving four bets on three different selections. The Trixie consists of 3 Doubles and 1 Treble. Your stake is always four times the unit stake, as there are four parts to the bet.
For example, if you choose horses A, B and C to win across three different races, your Trixie will include doubles of (A & B), (A & C), (B & C), plus a Treble of (A, B & C). If none, or only one, of your three selections win, you lose the entire stake. If two win, one of the doubles pays a return. If all three win, all four bets pay, producing a guaranteed profit.
Yankee
Originating in the USA, a Yankee bet is a multiple involving 11 combinations across four events: 6 Doubles, 4 Trebles, and a four-fold accumulator. Two or more selections must be successful to guarantee a return.
For example, if you choose horses A, B, C, D then your Yankee bet will include Doubles of (A & B), (A & C), (A & D), (B & C), (B & D), (C & D). The Trebles will be: (A, B & C), (A, B & D), (A, C & D), and (B, C & D). The four-fold accumulator will be: (A, B, C & D).
Yankees are often used for backing several short-priced participants.
Canadian or Super Yankee
A Canadian or Super Yankee bet works like a Yankee — but with five events. It consists of 26 bets on five selections: 10 Doubles, 10 Trebles, 5 Four-fold Accumulators and 1 Five-fold Accumulator. Two or more selections must win to return a payout.
Heinz
A Heinz is a multiple consisting of 57 bets across six selections: 15 Doubles, 20 Trebles, 15 four-fold accumulators, 6 five-fold accumulators and 1 six-fold accumulator.
You’ll make a return if two or more selections win. A single win is not enough, because the Heinz does not include any singles.
Super Heinz
A Super Heinz is similar to a Heinz but consists of 120 bets across seven selections: 21 Doubles, 35 Trebles, 35 four-folds, 21 five-folds, 7 six-folds and a seven-fold accumulator.
Two or more selections must win to return a payout.
Goliath
A Goliath consists of 247 bets on eight selections: 28 Doubles, 56 Trebles, 70 Four-Folds, 56 Five-Folds, 28 Six-Folds, 8 Seven-Folds and an 8-fold Accumulator. Two or more selections must win to ensure a return.
The disadvantage of a Goliath is the large stake required. For example, a 10p unit stake totals £24.70.
Learn more about Full Cover bets.
Full Cover Bets With Singles
Patent
A Patent bet is a multiple consisting of 7 bets on 3 different selections. It’s similar to a Trixie but includes 3 Singles, 3 Doubles and 1 Treble. Patent betting will return something even if only one selection wins.
For example, if you choose horses A, B, C then your Patent bet will have Singles of A, B & C, Doubles of (A & B), (A & C), (B & C), and a Treble of (A, B & C).
Lucky 15
A Lucky 15 is a popular multiple bet, sometimes thought of as the ‘full coverage’ version of the Yankee. It involves 4 selections and 15 bets in total: 4 Singles, 6 Doubles, 4 Trebles and 1 four-fold Accumulator. Just one winner guarantees a return.
Lucky 31
A Lucky 31 is a larger version of the Lucky 15, containing 31 bets across 5 selections: 5 Singles, 10 Doubles, 10 Trebles, 5 four-fold Accumulators, and 1 five-fold Accumulator.
Lucky 63
A Lucky 63 expands further to 63 bets across 6 selections: 6 Singles, 15 Doubles, 20 Trebles, 15 four-fold Accumulators, 6 five-fold Accumulators, and 1 six-fold Accumulator.
Alphabet
An Alphabet is a more complicated bet type containing 26 bets across 6 different selections. It consists of 2 Patents (14 bets), 1 Yankee (11 bets), and a six-fold Accumulator (1 bet).
Learn more about Full Cover bets with Singles.
Any To Come Bets (ATC)
Up & Down / Stakes About
The Up & Down is a conditional bet described as an “any to come if cash” bet — meaning that each part of the bet only proceeds if cash is left from the previous part. It consists of two conditional bets, each with a conditional second part as outlined below.
Selection A (conditional on B)
- If sufficient cash is left (i.e. the bet wins), place another equal stake on selection B.
Selection B (conditional on A)
- If sufficient cash is left (i.e. the bet wins), place another equal stake on selection A.
Essentially, the Up & Down wager splits your stake into a single on each of the two selections, whereby both bets stand provided they both return. However, if either one bet wins, a second bet is automatically triggered. This is best understood with an example.
For instance if you bet £1 on an Up & Down with decimal odds of 2.0 (bet A) and 3.0 (bet B), then the total stake is £2.
- If both bets win, the initial return is (£2 + £3 = £5), but you re-use £2 to place 2 more bets on both horses. Total return £8 (profit: £6)
- If only bet A wins, the initial return is £2, but you re-use £1 to place another bet on selection B. Total return £1 (profit: -£1)
- If only bet B wins, the initial return is £3, but you re-use £1 to place another bet on selection A. Total return £2 (profit: £0)
- If both bet A and B lose, there is no return (profit: -£2).
Note: conditional bets can be applied retrospectively. So the timing of events doesn’t impact the bet type.
Round Robin
A Round Robin contains 3 selections, amounting to 10 bets. It consists of: 3 Doubles, 1 Treble and 3 Single Stakes About bets (which contain 2 bets within each).
Flag
A Flag bet contains 4 selections and 23 bets in total: 6 Doubles, 4 Trebles, 1 Four-Fold and 6 Single Stakes About in pairs. It is similar to a Yankee bet with the added 6 pairs of Up & Down bets. You need at least one winning selection to get a return.
Super Flag
A Super Flag contains 5 selections and 46 bets. It is an advanced version of the Flag, containing 10 Single Stakes About bets, 10 Doubles, 10 Trebles, 5 four-folds and 1 five-fold accumulator.
Rounder
A Rounder bet is made up of 3 Singles and 3 ATC Doubles. If a single bet wins, the same stake is then used on a Double for the other two selections.
Roundabout
A Roundabout bet is made up of 3 Singles and 3 ATC Doubles of twice the stake. If the single bet wins, twice the stake is used on a Double for the other two selections. However if one of the selections has odds of less than evens, the full return is used on the additional bet.
Note: most online bookmakers do not offer ATC bets, and instead focus on Accumulators, Full Cover bets, and Bet Builders.
Forecast Bets
Straight Forecast
A Straight Forecast is a two-part bet where you predict which selections will finish first and second in the correct order. This bet type is popular in horse and greyhound racing. The odds you receive are based on an equation that factors in the win odds of the horses, the number of runners, and other variables.
Reversed Forecast
A Reverse Forecast is a bet in which you predict the first and second-placed finishers in any order. It is more likely to win than a Straight Forecast, and therefore pays less.
Combination Forecast
A Combination Forecast enables bettors to predict that any combination of 3–6 participants in an event will finish in the top two.
Tricast
A Tricast is a three-part bet where you predict which selections will finish first, second and third in the correct order. This is similar to a Straight Forecast but with three runners instead of two.
Combination Tricast
A Combination Tricast is a three-part bet where you predict which selections will finish first, second and third in any order. This is more likely to win than a Straight Tricast, and hence the payout is lower.
Learn more about Forecast bets.
Tote Pool Bets
Tote bets are a type of pari-mutuel betting that is popular in horse racing. In a tote bet, all the bets placed by players are pooled together, and the total amount of money is divided among those who correctly predicted the outcome.
The amount each player wins depends on the total pool and the number of winners. Tote odds are determined by the pool size and participation, not fixed in advance.
Learn more about Tote Pool bets.
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