A Little Low Down On Odds Bets That Can Be Laid
The world of the bookmaker and the serious sports bettor is laced with strange names. You can bet on just about any outcome imaginable and there is a named bet out there. Structures of these bets can get a bit convoluted so they are not list on your betting slip. Every bookie you place a bet with will have comprehensive terms surrounding a bet you make. But here’s a list to help figure it all out.
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First let’s explain how the odds work. European and Asian bookies offer decimal betting odds these are easy to understand and are expressed as simple numbers 3.0 or 1.75 etc. all you need do is multiply your stake by the odds figure and this is your return. So a €10 bet on 2.10 odds would see a return of €21. €10 bet with 1.75 odds would return €17.50.
British and Australians are more familiar with fractional odds 5/1, 6/4, 10/11 etc. these prices are written without the stake included for your return so a £10 bet at 5/1 would be £50 winnings plus your £10 = £60.
Now we have the confusing one the American or sometimes known as money line odds. These are written as positive or negative numbers. Negative numbers represent how much is needed to wager to win $100 positive is how much you would win if you wagered $100. This is just the winnings the return amount will be plus your stake. So a -124 would mean you need to bet $124 to win $100 so your total return would be $224. +134 would be $100 stake plus $134 winnings total return $234. Unnecessarily complicated but there you have it. All bookies worth their salt will offer odds in any format you like they will have a converter somewhere in the header of their site.
A-Z Of Bet Types
- Accumulator or Acca – An accumulator is a series of bets where the winnings of the first bet are re-wagered on the next bet in succession and so on for the number of selections made. This type of bet can see a small initial stake turn into a large return even when all bets are favorites to win. The winnings are very simple to calculate it is just an easy sum multiply the stake by all of the return figures. For example €10 acca on Man Utd to beat Liverpool 2.25, Chelsea to beat Arsenal 2.50, Man City to beat Spurs 2.00, West Ham to beat Southampton 3.00, the sum is €10 *2.25*2.50*2.00*3.00 = €337.50 not bad for a €10 bet. This 4 selections acca is also called a 4-fold and a five selections bet is a five-fold This bet is also known as a Parley with American bookies
- ABC Roll UP – Three choices bet as a Trixie and a Roundabout (3+4=7 bets). This is also called a Banko with some books
- Alphabet – Six choices split in two Patents (choices 1, 2, 3 and 4, 5, 6) one Yankee (choices 2, 3, 4, 5) and all six in an acca total 26 bets hence the Alphabet ( 7+7+11+1=26)
- Any To Come – A bet with at least two selections. The first selection has the full stake then after that you choose how much of the winnings is staked on the any to come part of the bet.
- Arkle – Four choices bet as four Patents and one Each Way Accumulator (7+7+7+7+2=30 bets)
- Ante post – A bet placed usually a long time before the actual event. You will see better odds on this type of bet but risk losing your stake in the event of your choice pulling out (this will depend when you placed the bet)
- Asian Handicap – Known as hang cheng in Indonesia it is a form of handicapping used in association football that eliminates the draw outcome. Teams are given half or full goal advantages added onto their score to even up the disparity between teams. If a team is given a -1.5 handicap to win a bet on this team they must beat the other team by two clear goals.
- Across The Board – US pari-mutual horse racing mainly where win place and show pools are offered, the bet is spread over all outcomes.
- Banko – See ABC Roll UP
- Blanket Yankee – Four choices bet as one Flag and four Singles (23 + 4 = 27 bets)
- Bookies Nightmare – Nine choices bet as two Patents (choices 1, 2, 3 and 7, 8, 9), one Round Robin (choices 4, 5, 6), two Yankees (choices 1, 2, 3, 4 and 6, 7, 8, 9) and one 9 fold Accumulator (7 + 7 + 10 + 11 + 11 + 1 = 47 bets)
- Canadian – Five choices bet as ten Doubles, ten Trebles, 5 four-folds and one five-fold twenty six bets total.
- Correct Score – Self-explanatory really bet on the correct outcome of the game, exact goals/points/sets etc.
- Combination Forecast and Tricast – the Combination Forecast involves three or more choices where you bet on all possible forecasts. If two choices finish first or second in any order the bet is considered a winner. The combination Tricast is again three or more choices where you bet on all possible tricasts. So three of your choices finish first, second and third you get paid. These bets are usually on horse or dog races but rarely can be applied to other events.
- Comedy – Three choices set up as a Round Robin and a Roundabout (10 + 3 = 13 bets)
- Double – Two choices where the winnings from the first choice is wagered on the second both must win to pay out.
- Double Lap – As many choices as you like. The bet is a Single Any To Come and then a Single on the next choice at double stakes. The number of bets is the same as number of choices.
- Double Stakes About – Like Single Stakes About except where payout from the 1st win is invested at twice the original stake for the second choice. There is also Triple Stakes About and Quadruple Stakes About.
- Dundee Shuffle – Four choices bet as four full stake Singles Any To Come, a half stake Trixie on the other three, six half stake Doubles Any To Come, full stake Double on the other two, four half stake Trebles and Each-Way half stake Accumulator. (16 bets total, four at full stake and twelve at half stake)
- Each-Way – An equal stake bet to win and/or be placed (1 bet win 1 bet place) Payouts for places depend on the number of runners. Horse racing for non-handicaps from two to four runners win only no place paid. From five to seven runners first and second paid at ¼ odds. Eight or more runners first, second and third paid at ⅕ odds. Handicap races from two to four runners win only no place paid. From five to seven runners first and second paid at ¼ odds. From eight to eleven runners first, second and third paid at ⅕ odds. From twelve to fifteen runners first, second and third paid at ¼ odds. For sixteen or more runners first, second, third and fourth places paid at ¼ odds. Greyhound racing two to four runners win only. Five to seven runners first and second paid at ¼ odds. Eight runners first, second and third paid at ⅕ odds. Each-Way bets can be either single bets or multiple bets, on multiple bets Each-Way are settled on win-win and place-place basis.
- Exacta – A Tote bet much the same as a Straight Forecast three or more declared runners, pick the first two correctly.
- Fido – Five choices as ten Doubles and ten Trebles
- Flag – Four choices as one Yankee, six Single Stakes About in pairs totals 23 bets
- Forecast – Also known as Straight Forecast choose first and second place correctly. A Reverse Forecast you choose the first two that can finish in either order.
- First Scorer – This can be goals in Association football, ice hockey, basketball or first try in Rugby (penalties don’t count) touch down in American football, basically most team games.
- Full Cover – American term meaning all Doubles, Trebles and any other Accumulators for any amount of choices.
- Goliath – Eight choices with a staggering selection of bets. Twenty eight Doubles, fifty six Trebles, seventy four-folds, fifty six five-folds, twenty eight six-folds, eight seven-folds and one eight-fold a total of 247 bets!
- Gyroscope – Five choices bet as ten Doubles Any To Come and one Treble on the other three.
- Grand Salami – Total goals scored for the days matches usually ice hockey wagered over/under
- Half-ball Handicap – Also known as Asian Handicap or Hang Cheng
- Handicap Betting – Also known as Spread Betting or Pointspread. Used by bookies to even up mismatched events making the underdog more attractive to punters and thus helping to even up their book. Basically a score is added as a head start to the underdog before the match starts.
- Heinz – Six choices bet as fifteen Doubles, twenty Trebles, fifteen four-folds, six five-folds and one six-fold total bets fifty seven hence the Heinz
- If Lose – The same as Stop At Winner
- Liverpool Round The Clock – Three choices bet as one Roundabout and one Trixie (3 + 4 = 7 bets)
- Lucky 15, 31 or 63 – This bet is for all combinations on either four, five or six choices. These bets have consolations and bonuses attached. Lucky 15 is four Singles, six Doubles, four Trebles and one four-fold. If only one choice wins the consolation return is paid double the odds. The bonus if all four win 10% is added to the total. Lucky 31 is five Singles, ten Doubles, ten Trebles, five four-folds and one five-fold. Consolation is usually double odds on a single winner again with a 20% bonus for all five winning. Lucky 63 is six Singles, fifteen Doubles, twenty Trebles, fifteen four-folds, six five-folds, and one six-fold. The consolation on a single winner is the same double odds and the bonus for all six winning is 25%.
- Match Betting – Known as the Money Line in US Bookies this is a straight bet on the winner of a specific match/event.
- Match Bet – Typically a bet on a golf tournament or horse racing but can be other sports as well. In golf it’s between two players and the bet is on who will finish higher than the other in the tournament. The two player may not ever play together but it is on the total score over the 72 holes. With horse racing it is between two horses in the same race and which will finish in front of the other.
- Money Line – See Match Bet
- Mythical Betting – This bet pits teams or competitors/selections against each other but they are not actually in the same event hence the Mythical. Typically golf and football is where this bet can be made. For example the mythical football match is England v Germany but England are playing France and Germany are playing Brazil. If the final scores are England 3 France 2 and Germany 1 Brazil 1 then the Mythical score is England 3 Germany 1.
- Outright – This is a bet on knockout competitions. The FA Cup is a prime example. You bet on a team/player to go through to the next round.
- Over/Under – This is a form of totals bet. A figure is set and you bet on whether the total goals or points score from both teams will be over or under this number.
- Patent – Three choices bet as three Singles, three Doubles and one Treble total of seven bets.
- Perm Patent – Four choices bet as four Patents (7 + 7 + 7 + 7 = 28 bets )
- Perm Round Robin – Four choices bet as four Round Robins (10 + 10 + 10 +10 = 40 bets)
- Perm Yankee – Five choices bet as five Yankees (11 + 11 + 11 + 11 + 11 = 55 bets)
- Place Only – A horse racing bet on a place depending on the size of the race which place pays out. See Each-Way for place payouts.
- Place Treble – Multiple Each-Way bet three choices to place as an Accumulator
- Placepot – This bet is a Tote bet and is over the first six races of a meeting. You choose at least one horse from each race to be placed. You can pick as many horses as you like from each race. Winnings from each race roll over to the next if you get a place in each race you get a payout. If you manage more than one place in each race you have more shares of the Tote pot as you have more winning combinations.
- Quadpot – The Quadpot is a Tote bet run over the 3rd, 4th, 5th and 6th races at a meet, the last four in the Placepot. This can be for any meeting in the UK you make four choices, one from each race all selections must place to win the bet.
- Quatro – These are football bets that can have four possible outcomes. Availability can vary from bookie to bookie the most used formats are:
- – Team A to win 3 or more goals scored in the match
– Team A to win with fewer than 2 goals scored in the match
– Team B to win or draw with three or more goals scored in the match
– Team B to win or draw with two or fewer goals scored in the match
- The Goal Time Quatro offers the four selections with each team to score first with first goal being in or before 27th minute, and the first score in the 28th minute or after.
- The Score First/Last Quatro is all the different combos of the first and last goal being scored e.g.
Team A first goal Team A last goal, Team A first Team B last, Team B first Team A last, Team B first Team Blast.
- – Team A to win 3 or more goals scored in the match
- Reverse Forecast – Two choices are made in one event and they finish top two in either place. Its two bets in one that replaces two Straight Forecasts. This is known as a Quinella sometimes.
- Roll Up – Known in some books as another name for an Acumulator it can also be a three choice bet run as a Patent and a Place Treble (7 + 1 = 8 bets total)
- Roundabout – Three choices in different events bet as one Single Any To Come and double stake Doubles on the two left (1 + 1 + 1 = 3 bets total)
- Rounder – Three choices in different events bet as one Single Any To Come and single stake Doubles on the two left (1 + 1 + 1 = 3 bets total)
- Round The Clock – Three or more choices in different events bet as Singles Any To Come and a Single on the remaining choices. However many choices you have is the number of bets.
- Scoop6 – Another Tote bet this costs £2, divided between four pools, the win, the place, the bonus and the starting. There are six specific races and you must choose one horse from each race. If all six come in as winners you get your share of the win pool, you call the Tote and be entered for the Bonus pool for the following week where you have to pick the winner of a specific race will get you a share. The place pool pays out shares if you get all six placed and the starting pool is there to boost the next win pool once it has been won.
- The Scorecast – Your choice of team has to win by an exact score and a particular player must score first. This bet has ‘related contingencies’ the odds from both eventualities are combined to give one price.
- Severn Ways Bet – Another name for a Patent
- Single – One bet on one choice to win
- Single Stakes About – Also known as SSA two choices are bet on as two singles any winning return of each choice is reinvested on the other also called a Visa Versa
- Spreads – See Handicaps
- Spread Betting – This is a bet won or lost on the prediction of a result. The returns or losses are calculated by how right or wrong you are subsequently the losses or returns can be significant.
- Standard Bet/Single Event Bet – The same as a Single in that you have one choice and bet on the outcome. Where the tie is possible and has a price this also counts as a Standard/Single Event
- Stop At A Winner – This is a kind of insurance bet with multi-bet such as Accumulators. The condition is that if the previous selection wins then the next part of the bet is not wanted, if it doesn’t then it is. Can be known as If Lose
- Straight Forecast – One bet you pick first and second in one event
- Sundial – Severn choices bet as one Patent (choices 1, 2, 3) and one Yankee (4, 5, 6, 7) (7 + 11 =18 bets total)
- Superflag – Five choices different events bet as one Super Yankee and ten Single Stakes About in pairs ( 26 + 2 + 2 + 2 + 2 + 2 + 2 + 2 + 2 + 2 + 2 = 46 bets total)
- Super Heinz – Severn choices from different events bet as twenty one Doubles, thirty five Trebles, thirty five Four-folds, twenty one Five-folds, seven Six-folds and one Seven-fold (21 + 35 + 35 + 21 + 7 + 1 =120 bets total) At least two selections need to win to get any payout.
- Super Yankee – See Canadian
- Teaser – American bet where you can change the spread in your favour in return for reduced odds.
- Three Ball Bet – A bet between three golfers on one 18 hole round of golf usually in the early stages of a tournament to predict who will lead after the 18 holes. In the event of a tie dead heat rules apply.
- Totals – See Over-Under
- Trap Challenge – A bet on a Greyhound meeting where you bet on which trap will have the most winners
- Treble – Three choices from different events bet as an Accumulator all three must win to pay out
- Tricast – Correctly predict the first, second and third in one event
- Trifecta – American version of Tricast
- Tiercé – French version of Tricast
- Triple Yankee – Six choices bet as three Yankees (1, 2, 3, 4,)(3, 4, 5, 6)(1, 2, 5, 6) 11 + 11 + 11 = 33 bets total.
- Trixie – Three choices bet as three Doubles and one Treble four bets total.
- Twist – See Patent
- Nine choices bet as eight trebles selected in the form of the ‘Union Jack’:
The selections would be ABC, DEF, GHI, AEI, CEG, ADG, CFI, BEH. This can be added to by turning each Treble into a Round Robin or Patent etc.
- Winning Margin – Predict the amount of points/goals a team will win by
- With The Field – A type of hedge bet choose a winner with any other runner to come second. The number of bets is the number of runners minus one. This can also be applied to Doubles.
- Yankee – Four choices bet as six Doubles, four Trebles, and a Four-fold.
- Yap – The same as a Lucky 15 but with no consolations
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