There are numerous bet types that can be enjoyed and explored by punters. The range is vast, right from the most basic option of a win single to the more complicated combinations of things like full cover and conditional bet types. Use this betting guide to help you sort through it all with clear, easy to understand explanations of all the different bet types that you may come across.
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Types of Bets
The most simple types of bets are a Win, Place or Each-Way option;
A single win bet is used to select one outcome to happen from an event, like the winner of a football match or an F1 Grand Prix. This requires just the one stake on a winning option.
A place bet backs a selection to finish (place) within a range of finishing positions set by a bookmaker. It could be something like the top five places of the US Masters golf or the top three in a horse race.
An each-way bet has two options covered within it. Two unit stakes are needed, one to cover the outright win option and the other to cover a place option.
One single bet of any type. Just one unit stake is used.
A multiple bet is when more than one selection gets combined together under one single unit stake. The appeal of this bet type is that they offer higher returns because more stake is risked as the bet grows. The returns from the first leg of a multiple is what gets used as the stake for the second leg and so on. The cumulative odds can stack up to create higher payouts.
A double bet is two single selections which are linked together in a bet. One unit selection is used and if the first selection wins, the returns are used as the stake for the second selection. Both options have to win.
Three single selections in one bet under one stake. The treble bet type is a multiple. Any returns from the previous leg of the bet is used as the stake for the next. Therefore all three selections need to win.
Commonly a bet with four or more selections (legs) within it. Accumulators can pay out big returns but they are high-risk because all legs are needed to win for it to be successful. Returns from the previous leg are played as the stake for the next, as with all multiple bet types.
Full Cover Bet
A full cover bet is where more than one selection is used together to build whatever combination of multiples can be made from the number of selections. This includes any doubles, trebles and accumulators. However many multiple bets are made from the selections, they will each require an individual unit stake. Full cover bets do not include the selections as win singles.
A Trixie bet is a form of a full cover bet type from three selections, which creates multiples and no singles.
In a Yankee bet, four selections combine for all possible creations of multiples from the picks.
Canadian / Super Yankee
A Heinz bet is a full cover bet of six selections, creating all the possible combinations of doubles, trebles and accumulators.
A step up from the Heinz is the Super Heinz which has seven combined selections.
In a Goliath bet eight selections are brought together to create all the multiple options.
Full Cover Bet With Singles
As the name suggest, a Full Cover bet with singles simply adds the individual selections on to a full cover bet type. This allows every option, all singles, doubles, trebles and accumulators to be put together in a bet. Each bet created with a full cover bet with singles type needs an individual unit stake played.
A Patent is a variant of a Trixie bet, which like it, uses only three selections but the Patent version includes the singles.
A Lucky 15 is a popular type of bet used for horse racing. Four selections are combined for all singles and multiples possible.
The Lucky 31 is a version of the Canadian (Super Yankee) with the singles also included in the bet along with the multiples. It’s built from five selections.
Six selections, as in a Heinz are used to create all multiple combinations, but the Lucky 63 includes the singles too.
Six selections which combine to make 26 bets, which is why it’s called an Alphabet. The six selections create two Patents, a Yankee and a 6-fold accumulator. A Patent has seven bets (x2), a Yankee has 11 bets and the one bet of the 6-fold acca tallies up to the number 26.
Conditional (Any To Come) Bet
Conditional bets rely on something happening before another action is taken. For example, two selections may be made and if there are returns from the first selection, then the returned stake will be used on the second selection. If the first selection loses then second selection doesn’t get played. These are known as ATC (Any To Come) bets. They are sometime referred to as “if cash” bets as well.
Up and Down
An Up and Down bet is made from just two singles. Two bets are created and each has two parts. Part A: If the first selection wins, then the returned stake goes on the second selection in the bet. Part B: If the second selection wins, then the returned stake goes on the first selection. So they are two reverse bets of each other.
The selections are used to create ten bets. The basic premise of a round robin is that it is a Trixie plus x3 up and down bets added on to it.
A flag bet is an enhanced Yankee where up and down bets (six of them) are added onto the multiples created.
A Super Flag bet is created from five selections (as there is in a Canadian), with the addition of up and down bets on top. This creates 46 separate bets.
Three selections create a Rounder. If there is cash coming back from a winning single, the original stake goes into a double bet. All singles and variations of doubles are played in the bet sequence.
The Roundabout is a step up from the Rounder in which if a single bet wins, the stake from it is doubled to be placed on a double bet.
There are bets out there that have to fall under the category of a speciality bet type, where a unique betting slip or system is used in order to play.
Nine selections are laid out in a 3×3 grid which can be done on a special betting slip. Each vertical line and each horizontal line creates a treble, for a total of eight treble wagers. Seven winners will guarantee a return in a Union Jack bet.
A number of selections between 3 and 8 can be placed into a System Bet. All multiple bet types (the type being decided by the punter) will be created from the initial selections. In the example of a 2/5 system bet, five selections are made and from it, all combinations of doubles are produced. In a 3/5 system bet, again five selections are used, but to create all possible trebles.
This is a popular bet type for horse racing and greyhounds. A forecast bet is when selections are made on the same betting slip from a single race, predicting the exact finishing order of the top two. Variations of this can be made such as naming the selections to finish in either order in the top two, or naming several selections out of which the top two will come.
A straight forecast is a single bet when two selections are made for a single event, say a horse race. This bet type requires the prediction of the exact finishing order of the top two.
A reverse forecast bet is a straight forecast with the reverse finish also included. Two selections are made and the options created are for the finish of either 1-2 or 2-1 in a race. This requires two unit stakes because of the extra option.
The combination forecast bet type is predicting the exact finishing order of the top two in an event. However, you can select multiple options instead of just two and any combination of your selections finishing in the top two wins. The more selections, the higher the unit stake is multiplied.
The Tricast is a bet which calls for a prediction on the correct finishing order of the top three in an event. A single stake goes on the call of an exact 1-2-3. This is a single bet requiring only the one unit stake.
The top three finishers in the exact order is what is targeted in a Combination Tricast. However, more than three selections are made on the bet slip. The more selections that are added to the bet, the more the unit stake will be multiplied by.
The premise of any Tote wager is pool betting. For a given event, punters wager their stakes into a pot. After the bookmaker has taken their cut from that pot, then it is the value of that pot which then sets the dividends.
Tote payouts are based on dividends and not fixed odds, which is the big difference between Tote and regular betting. The amount of stake that has been received on a horse is then divided by the overall value of the Tote pot for the given race. That number will set the dividend-price if that horse wins, and then you multiply your units of stake by the dividend.
There are a wide variety of Tote bets and most of them have similarities with regular fixed odds betting, but just operate off the pool betting system instead.
A selection is made in picking the winner of a horse race.
The selection made in a horse race for a Tote Place has to finish in a designated Place in the race, usually the top two or top three.
Each Way Tote
This combines the Win & Place Tote best together. The Win and the Place have separate dividends, paid out depending on where your selection finishes.
This is the same as a Forecast in regular betting, you predict the top two finishers in a race in the exact order.
The Trifecta is the same as a Tricast in regular betting. The top three finishers in the exact order have to be forecast.
This type of Tote Bet calls for the four winners of four consecutive races on predetermined races.
This is a prediction of six winners from six races, and more than one selection can be made for each race.
Jackpot and Scoop6 are prize pools, where punters will be playing for a share of a prize pot. The six winners of the designated races have to be predicted.
A Tote Swinger is a more unique bet in that you make two nominations in a race and you have to have them place in any order in the top three.
One of the most difficult Totes to win as it asks for the correct prediction of the top four finishers in a race.