It doesn’t matter if you are a part-time gambler or a seasoned pro, there’s a good chance you’re familiar with the different types of bets that can be placed on sporting events.
While some bettors prefer to stick to one type of wager, others like to mix things up and place multiple bets on a single game. This guide will look at the most popular types of bets placed on sporting events.
Single Bet, Win Bet Or Moneyline Bets
They might be called something different depending on the country you are in – they all mean the same thing.
This bet type is the simplest and easiest to understand. You place one bet on a team or player to win. If they win, you get money back.
For example, if you place a wager on a football team to win a match, pick a horse to win a race, or choose a golfer or tennis player to win a tournament. If they win, you win.
FYI – In the USA, these tend to be referred to as Moneyline bets, whereas Single bets or Win bets are more commonly used elsewhere, such as in the UK. It’s where the phrase “Put £x on x to win” comes from.
A double bet is when you pick two selections to win. Instead of placing just one single bet, you bet on two matches, two horse racing events, or two tournaments (or a combination of different events). To get winnings back, both of your selections must win.
This is another extension of the single and double bet types, where you pick three different selections of bets/odds – and all three have to come up for you to get a payout.
These bet types are the most basic ones when it comes to sports betting.
With Trixie bets, you can win big without having to wager a lot of money. A ‘Trixie’ consists of four bets across three selections (one Treble and three Doubles, so four bets in total).
For a Trixie bet to payout, two of the selections must win. If all three selections are winners, all four bets get paid out.
This bet type works in a similar way to a Treble, but instead, it allows for one of the selections to lose while still giving you a return.
The Patent bet is an extension of a Trixie. It is a multiple bet consisting of seven bets from three selections (one Treble, three Doubles and three Singles, so seven in total).
A Patent bet involves singles – which is a bonus because if just one of the three selections wins, then you will get a payout.
If you are thinking of placing a Treble bet, then look at converting them to a Trixie or Patent, as it offers a greater chance of winning.
A place bet is usually applied to horse racing bets or greyhound racing. A punter can place a wager on a horse to finish first, second or third in a race. This offers extra insurance in case your horse doesn’t finish first.
For example, putting a £5 bet on a place bet at odds of 6/1 will mean you get winnings of £30 no matter if the horse wins or comes in second or third.
Not all bookmakers offer place bets in horse racing or on greyhounds, and some bookies only offer first and second place as bet winners. So check this and their T&Cs before you start betting.
FYI – a place bet is similar to a Show Bet in the USA. But with a Show Bet, the horse can cross the line in first, second or third place for the wager to payout.
Each Way Bet
This is another bet which is common with horse racing. With an “each way” bet, half the stake is placed on your chosen horse to win, and the other half is placed on your horse finishing in one of the placed positions, i.e. second or third.
Some bookies offer placed positions down to fourth place, and for races such as the Grand National, bookies will offer “extra places” down to fifth or sixth, which means that if your horse finishes in sixth place – you still win!
Lucky 15 Bet
This type of bet is fun if you manage to grasp the concept. Here, we have a complete guide on calculating a Lucky 15 bet.
A Lucky 15 bet consists of 15 separate bets (hence the name) that cover every conceivable outcome from four selections.
The selections can be on sporting events, such as four football games. The Lucky 15 includes multiple bets made up of one four-fold accumulator bet, four trebles, six doubles and four single bets.
The beauty of this bet is that if one of your four selections loses, you’ll still have a chance to win from the other three games. Many bookmakers offer a bonus if all four selection wins.
Remember that with these permutation bets, the amount you stake is multiplied by 15. For example, if you were to place £1 on a Lucky 15 bet, your stake overall is £15 (£1 for each of the 15 bets).
Lucky 31 Bet
Similar to the Lucky 15, the “Lucky 31” consists of 31 different bet variations that can land across five selections.
- 5 x single stakes (selections 1,2,3,4,5)
- 10 x double stakes (selections 12, 13, 14, 15, 23, 24, 25, 34, 35, 45)
- 10 x trebles (selections 123, 124, 125, 134, 135, 145, 234, 235, 245, 345)
- 5 x four-fold (selections 1234, 1235, 1245, 1345, 2345)
- 1 x five-fold accumulator (selections 12345)
In total, these add up to 31 bets. The selections must be across different events – as the rules only allow one selection from a single sporting event.
Again, be wary of what you stake, as you’ll be staking that same single wager amount on each of the 31 bets. So a stake of £1 will end up costing you £31.
Lucky 63 Bet
Following the same pattern, a “Lucky 63” consists of 63 different bets across six selections.
The bets will be taken from one six-fold accumulator, 6 x five-fold accumulator, 15 x four-fold accumulator, 20 trebles, 15 x doubles and 6 x singles.
There are benefits to placing these types of bets. Not all selections must win for your betting slip to turn into a winning bet. If a single event or multiple events lets you down, you can still get a return.
Obviously, it will be less than it would be if every selection were to win. Our tip is to look out for “bookie bonuses”, – as some bookmakers payout bonus percentages on top of the winning amount if all selections come in.
A “Yankee” is a bet that consists of 11 different bets on four selections:
- 1 x four-fold accumulator
- 4 x trebles
- 6 x doubles
You will notice that there are no single bets. And with a Yankee bet, two of the four selections must win in order for you to get a payout.
While bookmakers offer Yankee bets across many sports, in the UK, the most popular sports tend to be football, greyhound racing and horse racing. And as per the other “multiple bets” above, the selections must be picked from different events.
Likewise, the amount you stake is per bet. For example, if you were to stake £1, then your total stake would be £11.
Super Yankee Bet
The “Canadian” or “Super Yankee” consists of 26 bets from five selections.
Again, the selections will have to be different matches or events. The bet combinations in a Canadian are:
- 1 x five-fold accumulator
- 5 x four-fold accumulators
- 10 x trebles
- 10 x doubles
The amount you stake will be per bet, so be wary when placing down your stake, as whatever you stake will be multiplied 26 times.
A Super Yankee can become quite complex due to the different permutations that can result from the 26 different bets – that’s why it’s helpful to use a free bet calculator.