When you’re thinking about placing a bet, the first thing you need to decide is which type of bet you’re going to make. What will the return be if you’re successful? What are the odds?
This guide to different types of bets will tell you all you need to know about some of the most popular ways you can gamble your money so you can start planning your next wager.
To learn more about the different odds available for different bets, visit here.
Single
Perhaps the most frequently placed are single bets which offer a straight win, meaning the success of a single bet depends on the outcome of a single event.
Double
A double bet is a single bet but it’s dependent on two separate outcomes in different events. In order to win the bet, both selections must win or be correct.
Treble
This is a single bet on three separate outcomes in different events. In order to win the bet, all three selections must win or be correct.
Accumulator
An accumulator bet is when your return relies on the success of four or more selections in a single bet. In order to win the bet, all selections must win or be correct.
Trixie
This is a bet commonly made during the horse races that is made up of three selections and four bets – three doubles and a treble. Two selections must win in order to receive a return.
There are also each-way trixie bets, but we’ll explain the meaning of this later on.
Patent
This is a bet that requires three selections and seven bets – three singles, three doubles, and one treble. It’s similar to a Trixie bet in some ways, but with an extra three singles.
Yankee
This is a bet that’s made up of four selections and 11 bets – six doubles, four trebles, and a fourfold. Two selections must win or be correct in order to receive a return.
Canadian or Super Yankee
A Canadian bet, sometimes referred to as a Super Yankee, is a bet that’s made up of five selections with 26 bets – ten doubles, ten trebles, five fourfolds, and a fivefold accumulator.
Lucky 31
A Lucky 31 bet is made up of five selections and 31 bets – five singles, ten doubles, ten trebles, five fourfolds, and one fivefold. The great thing about this type of bet is that you only need one selection to win or to be correct in order to receive a return on your initial bet.
Heinz
This is a six-selection bet and its name originates from the Heinz slogan of 57 “varieties”. It’s an interesting and unique type of bet as it requires you to make, wait for it, a total of 57 bets – 15 doubles. 20 trebles, 15 fourfolds, six five folds, and one sixfold accumulator.
Lucky 63
Similar to a Lucky 31, a Lucky 63 bet is made up of six selections and 63 bets – six singles, 15 doubles, 20 trebles, 15 fourfolds, six five folds, and one sixfold.
Goliath
This is a bet that is made up of eight selections across a number of events with 28 doubles, 56 trebles, 70 fourfolds, 56 five folds, 28 sixfolds, eight sevenfolds, and an eightfold accumulator making it 247 bets in total. At least two selections must win for a return.
Single Stakes About
This is an any-to-come bet that is made up of two selections from events, combined into two bets derived from two singles. You can use the return you receive on each single (but without exceeding the original bet investment) to place another single on the other selection.
Double Stakes About
This is an any-to-come bet that is made up of two selections from two separate events, combined into two bets derived from singles. Like a single stake about bet, you can reinvest your returns to fund another single on the selection.
Round Robin
This is a three-selection wager that is made up of ten bets – three doubles, one treble, and one three up-and-down single stakes about pairs.
Flag
A flag bet is made up of six doubles, four trebles, on fourfold, and six up-and-down SSA pairs.
Goliath Flag
This is a bet that’s made up of 28 doubles, 56 trebles, 70 fourfolds, 56 five folds, 28 sixfolds, eight sevenfolds, one eightfold, and 28 up-and-down single stakes about pairs.
Union Jack
A union Jack bet requires eight trebles from nine selections, for which the groupings are decided by putting the selections into a 3×3 grid to form horizontal treble, three vertical trebles, and two diagonal trebles.
Forecast
This is a bet for the horse races where you need to correctly guess the finishing order of both the first and second horses.
Each-Way
An each-way consists of two parts. You stake half of your bet on your chosen winning selection and the other half on the selection to place. Although it costs twice as much as a traditional win bet, it has the potential to yield much larger returns if the bet is won.
Reverse Forecast
Another bet to bear in mind if you’re off to the horse races is a reverse forecast bet which is when you have correctly chosen the first two horses, but it doesn’t matter which order they come in.
Match Bet
This is a form of betting that experienced gamblers know to use to their advantage, essentially a technique where individuals make the most of the free bets or bonus incentives that are offered by bookmakers or online casinos.
Placepot
Placepots are another popular type of bet at the horse races in which you must select the first size races at a single racecourse on one day. In order to receive a share of the pool, your horse must finish in the placings.
Jackpot
This is one of the rarest bets to come in as you need to correctly bet on the first six winners from a single racecourse in one day in order to share the pool. All of your selections need to be right in order to win, and even one loss can spoil the whole bet!
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