Types of Bets
If you wander into a betting office for the first time, you will come across many kinds of betting slips relating to the various different types of bets which can be placed in that shop. So to help you get your head around what betting types are available, below, you will find a quick glance guide listing all of the most popular types of bets that you can place in all betting shops, as well as the majority of online betting sites.
It is worth pointing out that when you place certain betting types you will qualify for a range of bonus payments should certain events happen in relation to the bet you have placed. Some multiple wager bets for example, will give you a compensation for getting just one winner which could be triple the odds for that one winner, or you may get a double payout if all your selections win. So it is important that you do some shopping around to get the best value from your gambling budget!
Accumulator – This type of bet can give you some massive potential payouts for relatively small stakes. The idea behind them and how they work is that you place multiple bets on any events you wish, and should the first one win, then the winnings and your stake get placed on the next one. Should that win then the stakes and winnings get placed on the next one in your list, however should any listed wager be a losing one then you win nothing!
Ante Post – This kind of wager is one that is placed well in advance of the actual date of when the event is taking place. By placing bets months or even years in advance, you often benefit from much higher odds that you would when the event it about to start.
Double – This type of bet will see you placing one wager on two separate events, they both need to win for you to receive a payout, and all stakes and winnings from the first one are then placed onto the second one.
Each Way – When you place an each way bet the bet is made up of two parts. The first is that your selection will win, and the second part of the wager is that your selection will finish in one of the prize paying positions in that event or race. If your chosen selections win, then you get paid out at the win odds for the first part of your wager, and also the place payout for your wager.
If however your selection doesn’t win the event but gets placed, then you receive just the place element of the wager paid out to you. If your selection neither wins nor gets placed then you will lose! As this bet is made up of two parts, you need to place two wagers, for example a 5.00 each way bet will cost you 10.00, 5.00 for the win part of the bet and 5.00 on the place part of the bet.
Goliath – This is a huge bet which will see you placing a total of 247 individual bets which cover 8 selections. The permutations for these bets are as follows: 28 doubles, 56 trebles, 70 four folds, 56 five folds, 28 six folds, 8 seven folds, 1 eightfold. So to get a guaranteed return, you will need to pick at least two winners from your eight selections.
Heinz – This is another multiple bet wager, and on this one you will be covering a total of 57 bets and will be picking 6 selections to wager on. This Heinz bet is made up of the following wagers: 15 doubles, 20 trebles, 15 four folds, 6 five folds and 1 six fold. Much like the wager above you need to get at least two winners to guarantee a return.
Lucky 15 – This is a very popular wager in bookmakers shops across the land, and covers a total of 4 selections permed together to make 15 bets in total. These bets are as follows: 4 singles, 6 doubles, 4 trebles and 1 accumulator. To get a return you need to pick just one winner. This type of wager also has special bonuses attached to them, so make sure you shop around to get the best ones available!
Lucky 31 – Another fairly popular type of bet. This one is made up of a total of 31 bets and this will see you picking 5 selections which are all permed together as follows: 5 singles, 10 doubles, 10 trebles, 5 four folds and 1 fivefold. As you have placed 5 single wagers in this bet you will get a return when you pick as least one winner, this is another bet which has special bonuses and consolations attached to it so make sure you look out for them!
Lucky 63 – As you may have already guessed, this bet covers a total of 63 wagers and to do this you first need to pick a total of 6 selections, which are then permed together in the following bets: 6 singles, 15 doubles, 20 trebles, 15 four-folds, 6 five-folds and 1 six-fold. One winner from the six guarantees you a return and much like the two bets listed above a bonus payout is often offered by bookmakers.
Patent – This bet is very popular with die hard punters and covers a total of 7 bets which are made up by perming together 3 selections as follows: 3 singles, 3 doubles and 1 treble. Just one winner guarantees you a return.
Single – As the name of this bet suggests you are placing just one wager on any selection in the hope that it will win whatever event it is taking place in!
Straight Forecast – To place this bet you need to pick one event and then choose which selection you think will come first and which selection will come second. After the race or event is run, the straight forecast dividend will be announced to a £1 stake. You do not need to place £1 on a straight forecast you can wager more or less than that amount and any winnings will be worked out pro rata. The straight forecast dividend is worked out to a mathematical formula based on the odds of both the first and second and its starting position in terms of the trap it was placed in, in the case of greyhound racing!
Super Heinz – This wager will see you having to place a total of some 120 bets and these will be a permutation of 7 selections as follows: 21 doubles, 35 trebles, 35 four folds, 21 five folds, 7 six folds and 1 sevenfold. As you are not placing any single wagers then a minimum of two winners is required before you get a winning payout.
Super Yankee – This bet is also referred to as a Canadian Bet and it is a total of some 26 bets on which you have permed together 5 selections, and these are as follows: 10 doubles, 10 trebles, 5 four folds and 1 fivefold. Two winners must be chosen to get a guaranteed return from this wager.
Reverse Forecast – This is similar to the straight forecast wager above, however your two selections can come in first and second place in any order; two separate wagers must therefore be placed on the runners to finish first and second in any order. So a £1 reverse forecast will cost you £2 in total.
Treble – This bet will see you picking three selections and for you to win, all three of them must be winning selections. The stakes and winnings from your first race are carried forward and placed onto your second and then the stakes and winnings from the second selection are placed onto the third one. Should any of your selections lose then your treble is a losing bet.
Tricast – This wager will see you picking three selections which must finish in first, second and third place in the order written on your Tricast slip, after the race a Tricast dividend is declared to a £1 stake.
Trixie – This is a little bet covering just 4 bets and you need to pick 3 selections which will be permed together as follows: 3 doubles and 1 treble. Two winners are needed to secure a winning payout.
Yankee – One of the most popular multiple bets around, this one will see you wagering on 11 bets which require 4 selections to me made, which are all then permed together as follows: 6 doubles, 4 trebles and 1 fourfold. Two winners must be selected for you to get a guaranteed return on your Yankee bet.