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Types of Bets and How They Work

Types of Bets and How They Work
© myracing / Paul Carter
James Prosser
Friday 4th January 2019

With a huge amount of options for betting, it can feel like wading through a minefield when trying to put a bet on. From singles, to trebles, to yankees, there is a huge selection in terms of bets and how you can gain returns. We’ve gone through each type of bet below, so you’ve got a handy guide on what can be a very confusing pool of terms!

What is a single bet?

A single bet is simply selecting one single horse in one single race – the most simple of bets. There are two main types of single bets: a win bet and an each-way bet.

A win bet does what it says on the tin: you need your horse to win the race to gain a return. For example, if I bet £5 to win on a horse at 7/1, I need it to pass the post first to get my return of £35.

An each-way bet gives you some insurance, as if your horse gets into the placings, you’ll still get a return. Check out our full each way guide here for full information.

What are multiple bets?

Simply put, multiple bets include more than one selection.

This is where things can get a bit more complicated, as all these bets incorporate more than one selection. From straight accumulators to canadian bets, you can find the guide for each below:

  • Double – two selections put together. Both have to win for the double to be a winner.
  • Treble – three selections put together. All three have to win for the treble to land.
  • Accumulators – Generally used for any bets involving multiple selections with all the selections in each bet needing to win to gain a return. For example, a bet of seven horses would be considered a seven-fold accumulator. For the bet to gain a return, you’d need every leg to win.
  • Trixie – A total of four bets on three selections; three doubles and a treble placed across the three selections. If two selections win you’ll get a return as one of the doubles will win.
  • Patent – A total of seven bets on three selections; three singles, three doubles and a single. This means you can gain a return with only one horse winning, although likely only a small one.
  • Yankee – A total of eleven bets on four selections; six doubles, four trebles and a four-fold accumulator. You’ll need at least two selections to win to gain a return.
  • Lucky 15 – As the name suggestions, 15 bets on four selections; four singles, six doubles, four trebles and a four-fold accumulator. One of the more popular multiple bets, you can gain a return with just one horse scoring but your returns will increase as your number of winners do.
  • Lucky 31 – As above but with 31 bets on five selections; five singles, 10 doubles, 10 trebles, five four-folds and a four-fold accumulator.
  • Lucky 63 – As above but with 63 bets on six selections; six singles, 15 doubles, 20 trebles, 15 four-folds, 6 five-folds and a six-fold accumulator.

What other types of Singles bets are there?

As well as the aforementioned win and each-way single bets, bookmakers are now offering increasing numbers of markets. The main ones are listed below:

  • Place – bet on a horse to finish in a certain place (or better), for example in the top 3. Like an each-way bet but without the win part of the bet.
  • Jockey/Trainer Specials – backing a jockey or trainer to have a certain number of winners, either on the day or at a meeting. For example, Ruby Walsh to ride 3+ Cheltenham Festival winners.
  • Favourites to win – betting on the number of favourites which will win at a meeting. This will usually be an “over” number, for example over 2.5 favourites to win at Cheltenham. The 0.5 is so that there can’t be a tie as it’s impossible for half a favourite to win.
  • Distance betting – a favourite of many of our Twitter followers; back the total distance of the winners at a certain meeting. This is calculated at the end of the day by adding together all the distances the winner of each race won by.
  • Request-a-Bet / #OddsOnThat – bookmaker specials bets which combine multiples into a single bet for your betslip. This may be a mix of horses to win and place, jockeys to ride a certain number of winners, or so on. Each bookmaker has their own name of them and they can’t be backed in doubles or trebles with other bets.

Our main types of bets at myracing are our accumulator tips and Lucky 15 tips, although we have numerous other options including singles (such as our NAP of the Day) and Doubles (such as our Each Way Double).

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