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Bet Types Bookmakers
There are three main types of bet available to you at the bookmaker. These are win single, each way, combination bets and multiples. Bookmakers offer odds on a particular event and when you place a bet you accept the odds on offer. This is known as fixed odds betting.
These types of bets are available on all sports and not just horse racing.
Win Single
This is the simplest and most popular type of bet. It is simply a bet on a horse to come first. The bookmaker will quote a price e.g. 5/1 and if you back the horse for £10 you will receive £60 back (5 X £10 plus your £10 stake back). If the horse loses you will lose your £10.
Each Way
This is two bets, a bet on a horse to come first and a bet on the same horse to be placed. For a horse to be placed it needs to finish 1st, 2nd, 3rd or 4th. The place terms of a race depend on the number of runners and the type of race. The full place terms are as follows,
| No Of Runners | Type Of Race | Fraction Of The Odds | Places Paid |
|---|---|---|---|
| 5 - 7 | Non-Handicap | 1/4 | 1st or 2nd |
| 8 + | Non-Handicap | 1/5 | 1st, 2nd or 3rd |
| 8 - 11 | Handicap | 1/5 | 1st, 2nd or 3rd |
| 12 - 15 | Handicap | 1/4 | 1st, 2nd or 3rd |
| 16 + | Handicap | 1/4 | 1st, 2nd, 3rd or 4th |
Note: For some of the big races some bookmakers will offer enhanced place terms such as 1/3 the odds or paying out on the 5th placed horse. Shop around.
If you were backing a horse at £10 each way this would cost you £20, £10 for the win bet and £10 for the place bet.
Backing a horse at 12/1 in a 20 runner handicap for £10 each way would produce the following results,
The horse wins,
you receive (12 X £10) + £10 = £130 for the win bet
you receive ((12 / 4) X £10) + £10 = £40 for the place bet
you would therefore receive back £170, a profit of £150
The horse finishes 2nd, 3rd or 4th,
you lose the £10 win bet
you receive ((12 / 4) X £10) + £10 = £40 for the place bet
you would therefore receive back £40, a profit of £20
The horse finishes 5th or worse,
you lose both bets and receive nothing back
Combination Bets
These are bets in which two or more selections are combined in a single bet. If the first bet wins the stake and the winnings are then placed on the next selection and this continues for each selection in the bet. All of the selections have to be successful for the bet to win. Combination bets can be win or each way.
To calculate the winnings in a combination bet add 1 to each of the odds and multiply them, subtract 1 from the total and multiply by the stake.
Double - 2 selections in different races
Betting £10 on a double with horses priced at 2/1 and 5/1 would produce the following results,
both win,
you win (2+1) X (5+1) = 18
18 - 1 = 17
17 X £10 = £170, a profit of £160
one wins and one loses, you lose £10
both lose, you lose £10
Treble - 3 selections in different races
All 3 selections must win for the bet to be successful. The returns are calculated the same way as a double.
Accumulator - 4 or more selections in different races
All selections must win for the bet to be successful and the returns are calculated the same way as doubles and trebles. Four selections is known as a fourfold, five as a fivefold, six as a sixfold, etc.
Note: Related Contingencies
You need to be careful if you take the same selection to win more than one event. A bookmaker will not accept a bet where the first result has a direct bearing on the second. For example, if at the start of the flat season a horse was quoted at 8/1 to win the 2,000 Guineas and 12/1 to win the Derby and you wanted to back this in a double the bookmaker would not give you 8/1 and 12/1. The odds he would give you would be less than the odds combined in a double. The reason for this is that success in the first event would increase its' chances in the second. This is know as a related contingency.
Multiple Bets
These are a variety of bets on several selections combined. Success does not depend on each selection winning. Multiple bets can be win or each way.
Trixie - 3 selections, 4 bets
3 doubles
1 treble
At least two selections must win to get a return.
Patent
- 3 selections, 7 bets
3 singles
3 doubles
1 treble
At least one selection must win to get a return.
Yankee - 4 selections, 11 bets
6 doubles
4 trebles
1 fourfold
At least two selections must win to get a return.
Lucky 15 - 4 selections, 15 bets
4 singles
6 doubles
4 trebles
1 fourfold
At least one selection must win to get a return.
Super Yankee (also know as a Canadian) - 5 selections, 26 bets
10 doubles
10 trebles
5 fourfolds
At least two selections must win to get a return.
Lucky 31 - 5 selections, 31 bets
5 singles
10 doubles
10 trebles
5 fourfolds
1 fivefold
At least one selection must win to get a return.
Heinz - 6 selections, 57 bets
15 doubles
20 trebles
15 fourfolds
6 fivefolds
1 sixfold
At least two selections must win to get a return.
Lucky 63 - 6 selections, 63 bets
6 singles
15 doubles
20 trebles
15 fourfolds
6 fivefolds
1 sixfold
At least one selection must win to get a return.
Super Heinz - 7 selections, 120 bets
21 doubles
35 trebles
35 fourfolds
21 fivefolds
7 sixfolds
1 sevenfold
At least two selections must win to get a return.
Goliath - 8 selections, 247 bets
28 doubles
56 trebles
70 fourfolds
56 fivefolds
28 sixfolds
8 sevenfolds
1 eightfold
At least two selections must win to get a return.
Note: Some bookmakers have a maximum payout for multiple bets so check the rules before placing large bets. Also, some bookmakers will offer bonuses on multiple bets so shop around.