Patent Betting
Combination bets have become extremely popular in the betting world, particularly amongst horse racing punters. Bet types such as the Exacta, Quinella, Trifecta, Treble and Accumulator are now commonplace, while other more exotic bets such as the Yankee, Goliath or Heinz will be also familiar to seasoned bettors.
Combination bets come in many forms but some offer “full coverage” across all possible combinations of doubles, trebles and accumulators across a range of events. In the USA, full cover bets are sometimes called “Parlays.”
The most basic full cover bet is known as the patent bet. This bet consists of a total of seven wagers made up of three singles, three doubles and one treble. It is used to cover three selections across three different events. It is similar to a bet known as the “Trixie” but differs in that if covers three singles as well as all possible doubles and trebles.
The possible outcomes are A (single), B (single), C (single), AB (double), AC (double), BC (double) and ABC (treble). Of course, the appeal of this combination, is that it only requires one selection to be successful to yield some kind of return. However, a loss may still be made due to the amount of bets placed. Punters who make two correct predictions are more likely to yield a profit, as more combinations come into play.
The best way to set up a patent bet is to use one of the many bet calculators that are readily available via a quick internet search. Once you have found a suitable tool, all you have to do, is input some variables factors such as your stake, the type of bet (win, each-way) and the odds format (decimal, fractional or American).
Finally, you must add the details of each selection such as the odds and the number of places (for each-way bets). The bet calculator will then display the amount to place on each bet, the total pay-out that can be expected if all three selections are successful and the overall profit that can be earned.
As an example, if you had 20 units to stake on three straight-win selections with odds of 2.0, 3.0 and 4.0 respectively. The calculator would indicate that you should place a stake of 2.85 units on selection. And that your total return would be 339.15 (net profit of 319.20) if all three are winners.
You can also use the calculator to work out how much you would win if just one or two of the selections is successful. The calculator also makes it easy to see how adjusting the odds, stake or bet type (win, each-way) can affect the returns. You can also create scenarios where there is non-runner or a dead-heat. You can even set your desired profit level to work out how much stake is needed to achieve your goal.
