If you are a beginner who is joining an online betting site, there is a lot to learn. It is important that you become used to all the different kind of bets that can be made. You may not know the difference between a Canadian and a Yankee (it’s nothing to do with geography) but you will after reading this article.
Placing a Win Single Bet
This is the most basic bet that you can place at an online bookmaker. It involves just the one selection and for you to receive a return from your bet, it must be a winner.
For example, you can bet £10 on Rafael Nadal to win the US Open at odds of 2.5. If he wins the tournament, you will win £15 and get your £10 stake back. However, if he doesn’t win the tournament, then you will lose your £10 bet.
Play Safe and Go Each Way
It is important you know the difference between a win bet and an each way bet. We’ve just looked at the first, now let’s look at an each way bet.
This time your selection doesn’t have to win for you to receive a return. Instead, it can finish second, third or fourth and see you receive something back. Your bet is split into two sections, a win bet and a place bet.
If your selection is placed, the win part of the bet is lost but the place bet is won with a payment at a certain percentage of its odds. This is a good bet to make when your selection has high odds. Even if it is placed, a profit will be made on the overall bet. It will cost double the amount of a single bet as it is essentially two bets being made.
Going for a Double
This time you need to make two selections. As well as betting on Nadal, you could go for Liverpool to beat Manchester United. If your stake is £10, then if Nadal wins at 2.5, you receive £25 going onto the second leg of the double. This is an example of what is called an accumulator bet. Liverpool to win has odds 2.0, so if they win, the £25 becomes a total return of £50.
You can keep adding on selections to your bet. A treble has three selections so the odds on all three selections winning will keep on getting higher. That’s good, but the higher the odds, the less chance of you getting a win.
Try a System Bet
Placing a system bet can make life a little bit easier. These contain at least three selections with an increasing number of bets being placed, depending on how many selections are made.
The important fact with system bets is that you will receive a return on your stake even if only one of your selections is a winner (or gets placed if it’s an each way bet).
Picking a Patent
This system bet has three selections. There are seven separate bets that are made here – three singles, three doubles and a treble. A stake is required for each bet, so a £1 patent will cost you £7 altogether (£14 if an each way Patent). One successful selection gets you a return. You could even make a profit with on winner if that selection had odds of more than 8.0.
This bet also requires you to make three selections, but no singles bets are included. Instead, there are three doubles and a treble. Two of your selections need to be winners for a return to be achieved.
Who will be in your Lucky 15?
This time there are four selection with 15 bets (30 if each way) – four singles, six doubles, four trebles and a four-fold. There’s also a Lucky 31 (five selections required) and a Lucky 63 (six selections).
A Yankee and a Canadian
Now we finally get to those two bets that have nothing to do with geography. A Yankee has four selections and a total of 11 bets (six doubles, four trebles and a four-fold). It’s like a Trixie but with an extra selection and two must win to get a return.
A Canadian can also be called a Super Yankee. This requires five selections to be made but has 26 bets in total – 10 doubles, 10 trebles, 5 four-folds and a five-fold. Add another selection and you now have a Heinz. This has 57 bets (15 doubles, 20 trebles, 15 four-folds, 6 five-folds and 1 six-fold).
Then there’s the Goliath which contains eight selections and 247 different bets. That costs a fair amount to place and you will need to get the assistance of a betting calculator to work out your return.
This is a bet that concerns the first six races on a race card. Each of your selections must be placed in its race. If there are less than five runners in a race, it must be the winner. If all your selections are placed, you’re a winner. There will be a dividend announced at the end of racing. If some favourites fail to be placed, then the amount you can win will increase. A jackpot bet requires you to name all the race winners and this can be a huge amount.
A straight forecast sees you required to name the first two finishers in the correct order. A reverse forecast is a similar bet, but you win regardless of the order your selections finish in but like an each way bet, it will cost double the stake. If you think you can predict the first three finishers in the right order, then you can place a Tricast bet. It’s possible to use permutations so several selections are made.
There are many other bets that can be made, the number seems to be ever-increasing. Betting sites will have details about all the bets available on the site so ensure that you read this to fully understand the bets that you wish to place.