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Intro: Get familiar with the different names for bets on Sport
Written on Sunday 28th of October 2012

bookmakersIntroduction to the different types of Sports Bet

When you first try to get to grips with online Sports Betting it can be confusing trying to understand what the different types of bets are. For example something called a 'Heinz' would be more commonly associated with a tin of beans rather than a type of Sports Bet. That is why Betastic has put together the definitive guide to different types of Sports Betting. By understanding what is available to you as a customer, the possibilities for winning are opened up. Giving you an opportunity to take advantage of betting options you may not have known existed.

Singles
Placing a bet on one single outcome. For example:
Put £1 on this single and you'll win £1 x 2/1 = £2 (plus your stake back = £3 total return).

This is 'singles' in its simplest form as you can make single bets on many types of outcome. From predicting the first half score in a football match to the number of fallers in the Grand National. The principle is the still the same, a single bet on a certain outcome.

Doubles
Placing two separate bets on two outcomes. For example:
This will give you the double. £1 on Team A at 2/1 = £3 winnings, then your £3 winnings go on Team C at 4/7 = £4.71

Total winnings from your double (£3 x 4/7 = £1.71, plus your £3 stake back = £4.71 total return)

Doubles requires both your selections coming in. If one wins but the other one doesn't then you will lose your money, simple as that. The beauty being that you can make a greater profit from the same stake as a single.

Trebles/Accumulators

Placing three or more separate bets on three or more outcomes. For example:
This will give you the Treble or Accumulator. £1 on Team A at 2/1 = £3 winnings,

Then your £3 winnings go on Team C at 4/7 = £4.71

Finally  your £4.71 winnings on Team E at 7/5 = £11.30

Total winnings from the treble (£4.71 x 7/5 = £6.59, plus your £4.71 stake back = £11.30 total return)

If any of your selections don't come in then you will lose your money. Accumulators quite often go up to seven individual bets. For example a punter might try and pick all the winners at a race meet. The chances of winning are really slim, but if you win you generally win big.

Permutation betting
The next section involves permutations. What is a permutation I here you ask? A Permutation is a bet that includes several events at a time, giving you the chance to forecast different outcomes for each event. Every result counts as an additional bet. You must bet the same amount on each result. You may select up to 14 events.

Patent
This is a permutation that contains 3 outcomes. From these 3 outcomes you'll get 7 bets: 3 singles, 3 doubles and 1 treble. With 7 bets, if you choose at least 6/1 odds for each of your 3 outcomes, for example, Team A to win 3-1 at odds of 14/1, Team B to win 2-1 at odds of 7/1, and Team C to win 2-Nil at odds of 6/1, even if you just get one winner you'll break even.

Trixie
This is similar to a patent, except you don't get any singles. It's 4 bets from 3 outcomes. You'll get 3 doubles and 1 treble.

Lucky 15
Like a Patent, but instead of 3, choose 4 outcomes and get 4 singles, 6 doubles, 4 trebles, and 1 quadruple, equalling 15 bets. As with the Patent, it's wise to choose odds that will return the amount you bet if you only get one winner out of four.

Yankee
This is similar to the Lucky 15, except you don't get any singles. A Yankee is 11 bets including 6 doubles, 4 trebles and 1 quadruple. This type of bet is better than the Lucky 15 in scenarios where you don't want to put down 15 bets, instead just 11 to reduce your bet amount. This means that your bet is lower, however you don't win anything for getting only one correct because there are no singles in this permutation.

Super Yankee
This is similar to the Yankee, except it covers 5 outcomes, not 4. This increases the amount of bets in the permutation. You'll get 26 bets - 10 doubles, 10 trebles, 5 four-folds, and 1 five-fold. In general the more permutations you have the more your bets are diluted.

Heinz
Similar to a Super Yankee, but you're now betting across 6 outcomes. This gives you 57 bets different bets: 15 doubles, 20 trebles, 15 four-folds, 6 five-folds and 1 six-fold. If you're betting on this type of permutation, remember that you've got 57 bets. It also means you'll need at least 2 outcomes out of 6 that have odds of around 7/1 or greater to make a profit. However by getting more than 2 outcomes will claim a big win.

Goliath

Like the name this is a monster of a permutation. It involves betting across 8 outcomes, giving you 247 bets: 28 doubles, 56 trebles, 70 four-folds, 56 five-folds, 28 six-folds, 8 seven-folds and 1 eight-fold. Depending on the odds you choose you'll probably need at least 3 winners out of 8 in order to make any profit. Your unit bet will usually be very small because you have 247 bets to cover.

Other types of Sports Bet

To give customers even more variety than they already have bookmakers, especially internet bookmakers have come up with a variety of other types of Sport Bet to have a wager on. Here are a some of the many other types of bet you can place:

Any to Come
This is where a punter can use the winnings from one race to finance another race, popular in horse racing.

Handicap betting
This is a very common form of betting in higher scoring sports like Rugby Union. The internet bookmaker may favour one team to win rather than the other so they offer odds based on a handicap. For example if Team A is much better than Team B then the internet bookmaker may set a handicap of 15 points. This will be the winning margin they feel Team A will win by. If you back Team B then you will win if they beat Team A or they lose by less than 15 points.

Computer Straight Forecast (CSF)
A horse racing bet that requires you to predict the first and second in the correct order that they come in.

Tricast
Similar to the forecast but the customer needs to predict the first three home, again in the correct order that they come in.

Placepot
This is a popular horse racing bet that requires the punter to pick a placed horse in a series of races. The place your horse has to finish is determined by how many horses are in the race.

Double result betting
This is usually popular with English football betting. Predicting both the half time result as well as the full time result. For example if Team A is playing Team B, you might back Team A to be winning at half time and then to go on to win the game. By doing this you are likely to get much better odds than just backing Team A to win. However if you choose to bet in this way remember that both results have to be correct for you to win regardless of the end result of the game.

First/last scorer betting
Betting on which player will score the first or last in a game. A very popular type of sports bet especially for live games.

Correct score betting
Internet Bookmakers will offer odds on predicting the correct score in a game. For example you might think that Team A will beat Team B 2-0. The odds vary on the likelihood of the final score, with longer odds on high scoring games.

Scorecast
This is usually associated with English football betting. A combination of predicting the first player to score a goal and the winning score in the game. There are usually very long odds on this type of bet for a good reason.

Unders/Overs
This could be called spread betting using fixed odds. The internet bookmaker may offer odds that Team A will beat Team B more than 3-0, less than 3-0 or the game will finish 3-0 to Team A. All will have varying odds depending on their likelihood of occurring.

Winning margins
This type of bet also has similarities to spread betting. Usually only available on sports with a high scoring potential, eg. Rugby union. The internet bookmakers offer prices on how many points one of the teams will beat the other by. This is done by splitting the various possible winning margins into sections. These sections will be offered by the bookmaker at varying odds depending on their likelihood. A price is also offered on the draw ie if the two teams finish level at full-time.

Novelty bets

Betting on anything from the winner of the latest Big Brother to which political party will win the general election. Novelty betting is another way for internet bookmakers to offer even more odds.