A Glossary of the Most Common Bet Types Explained
How does an accumulator work ? how does each way betting work ? what does sp mean in betting ? If you want to know answers to these questions then keep reading.
Below is a list of the various different bet types and an explanation about what they involve and is all part and parcel of understanding sports betting.
SP is the ‘Starting Price’ – Where you take the odds of the horse at the start of the race. When you place a bet you’ll usually be given the choice of the current odds on the selection and the Starting Price
Single Bet – A bet on 1 selection in 1 event. If your selection wins, so do you. Simple.
Double Bet – 1 bet made up of 2 selections in different events. Both selections must be successful for your bet to win.
Treble Bet – 1 bet involving 3 selections in different events. All 3 selections have to win for your bet to win.
4-Fold Accumulator – 1 bet made up of 4 selections in different events. If they all win, so do you. But if any of the selections lose, your bet does too.
Bet Types with more than 1 unit stake
The following bet types are all made up of more than one bet. Your stake is multiplied by the amount of bets involved and as long as one of the bets wins, you will receive some winnings (to get maximum winnings, all the bets must win).
Patent – 7 bets but is made up of 3 selections. Your 3 selections make up 3 single bets, 3 double bets and 1 treble bet.
Trixie 4 bets and totals 3 selections. It contains 3 doubles and 1 treble bet.
Yankee – 11 bets involving 4 selections. You have 6 doubles, 4 trebles and 1 four-fold.
Lucky 15 – 15 bets involving 4 selections. You will have 4 singles, 6 doubles, 4 trebles and 1 four-fold.
Canadian/Super Yankee – 5 selections which total 26 bets. There are 10 doubles, 10 trebles, 5 four-folds plus 1 five-fold.
Lucky 31 – 31 bets involving 5 selections. It has 5 singles, 10 doubles, 10 trebles, 5 four-folds and 1 five-fold.
Heinz – 57 bets from 6 selections. There are 15 doubles, 20 trebles, 15 four-folds, 6 five-folds and 1 six-fold.
Lucky 63 – 63 bets from 6 selections. You have 6 singles, 15 doubles, 20 trebles, 15 four-folds, 6 five-folds and 1 six-fold.
Super Heinz – 120 bets from 7 selections. It has 21 doubles, 35 trebles, 35 four-folds, 21 five-folds, 7 six-folds and 1 seven-fold.
Goliath – 247 bets from 8 selections. There are 28 doubles, 56 trebles, 70 four-folds, 56 five-folds, 28 six-folds, 8 seven-folds and 1 eight-fold.
Handicap Betting – involves giving an underdog a head start. For example, in a soccer match where Man City are favourites to beat Everton, the handicap might be set to give Everton a one-goal advantage. Effectively, if you place a bet in this market, then Everton begin the game one goal up.
Perm (or Permutation) Betting – If you’ve made more than 2 selections, it’s possible to ‘perm’ them in a bet. This allows you to bet on all the doubles in 3 selections, all the trebles in 4 selections or all the 4-folds in 5 selections etc.
This is a convenient way to place a lot of multiple bets and can produce great winnings. Eg. if you place a perm bet of doubles from 4 selections you will receive some winnings if only 2 of your selections win.
To get the maximum winnings from this type of bet, all your selections have to win. When you place your bet, you’ll be shown a box which calculates your possible winnings* – please be aware that these are your maximum winnings and will only be achieved if all your selections win.
* Please note that multiple returns shown on the bet slip are maximum potential returns, i.e. the most you can win. When a single dividend is part of the multiple, potential returns cannot be calculated and “n/a” is displayed in it’s place.