Bookmakers offer different types of bets to their customers. These range from a simple single bet to the more complicated bet, such as the Lucky15 and the Yankee.I have created a list below of traditional and popular bets offered by bookmakers in the United Kingdom.
A brief history of gambling
Sports betting has a long and complex history that spans thousands of years.
Betting on an outcome has been around for over 4,000 years. Archeological evidence from 2,300 BC mainland China has revealed the existence of an ancient lottery system. Later on, as sports developed, outcome bets shifted to this increasingly popular human activity.
One of the first recorded instances of organized sports betting dates back to the 8th century BC epic Iliad. In the book of Iliad XXII, one of the heroes, Patroclus, dies and later has a funeral at which there are “funeral games”. These include chariot racing and boxing. Of course, it included betting, and since the Iliad’s historicity dated to the 12th century BC. It’s argued that sports betting has been around for over 3 millenia.
When betting shops were legalised on 1 May 1961. Up to 10,000 opened within the first six months. Nearly 60 years on, there are scarcely fewer in operation. And nearly every high street in the country seems to have at least one. Most of them modernised and respectable, standing cheek by cheek with the butchers, chemists and building society branches. Like it or not, betting shops are now an established facet of the British landscape.
Below I have listed different types of bets and given a simple explanation as to how they work.
Different types of sports Bets available
- A single bet is where you place a bet on one single market or outcome.
- An each-way bet consists of 2 separate bets, a win bet and a place bet. For the place part of the bet to give a return. The selection must either win or finish in one of the given places for the event, such as first place or second place.
- An accumulator is a bet placed on 2 or more selections. A two selection bet is a double. Three selections a treble. And for the rest, they are known as four-fold accumulators, five-fold accumulators and so on. There is no limit on an accumulator to the amount of selections you can place. All selections must win in order for the accumulator to win.
- A Trixie bet consists of 3 selections in total. There are four bets in total from those three selections, which are ‘three doubles’ and ‘one treble’. If all three of your selections win (treble). You will win the total of your winnings. If only two win (double), you will receive a lesser amount based on the original odds of the bet.
- Any two winning choices is enough to generate a return from the trixie.
- The bet that moves on from the Trixie. The patent is a full coverage bet that covers all combinations of bets based on just 3 selections. Those combinations are ‘three singles’, ‘three doubles’ and one ‘treble’. This gives you a total coverage of seven bets.
- You will receive a return on this bet with as little as one win.
- The yankee bet gives you a possible eleven winning combinations from 4 selections. The combinations are ‘six doubles’, ‘four trebles’ and ‘one four-fold’.
- Two or more winning choices guarantees a return on this bet.
- The lucky 15 is similar to the yankee bet. Only with ‘single bet’ winning combinations added. There are 15 possible winning combinations in total. These are ‘four singles’, ‘six doubles’, ‘four trebles’ and a ‘four-fold accumulator’.
- You will receive a return on this bet with one or more winning selections.
Super yankee also known as Canadian
- The super yankee bet is a 5 selection bet with 26 possible winning combinations. The possible combinations are ‘ten doubles’, ‘ten trebles’, ‘five four-folds’ and ‘one five-fold accumulator’.
- A return on this win is guaranteed with two or more winning selections.
- The lucky 31 bet is a selection of five bets with 31 possible winning combinations. The combinations are ‘five singles’, ‘ten doubles’, ‘ten trebles’, ‘five four-folds’ and ‘one five-fold’.
- If one or more selections win, this bet is guaranteed to generate a return.
- A heinz bet consists of six bets with 57 possible winning combinations. They are ’15 doubles’, ’20 trebles’, ’15 four-folds’, ‘6 five-folds’ and ‘1 six-fold’.
- A return is guaranteed on a Heinz if two or more selections win.
- The lucky 63 bet is a 6 selection wager consisting of 63 possible winning combinations. They are ‘6 singles’, ’15 doubles’, ’20 trebles’, ’15 four-folds’, ‘6 five-folds’ and a ‘six-fold’.
- A single win or more from the 63 possible combinations will generate a return.
- A super heinz is a bet on 7 selections, this bet 120 possible winning combinations. They are ’21 doubles’, ’35 trebles’, ’35 four-folds’, ’21 five folds’, ‘7 six-folds’ and a ‘seven-fold’.
- You must have at least two winning selections for a return.
- The Goliath is a bet on 8 selections with 247 possible winning combinations. The combinations consist of ’28 doubles’, ’56 trebles’, ’70 four-folds’, ’56 five-folds’, ’28 six-folds’, ‘8 seven-folds’ and an ‘eight-fold’.
A return is guaranteed on a Goliath when two or more selections win.
- A straight forecast requires you to predict the 1st and 2nd place in an event. A forecast bet generally applies to horse racing and dog racing.
- The reverse forecast bet allows you to predict the top two finishers in an event. They can be in any order of the top two places for the bet to win.
- A combination forecast bet allows you to select 3 or more selections in an event. You receive a return if two of your selections finish 1st and 2nd in any order. Again this type of bet usually applies to horse racing and dog racing
- A straight Tricast bet allows you to predict the placing of 3 selections on an event. You must successfully predict the 1st place, 2nd place and 3rd place.
- In UK horse racing tricast betting is only available in handicaps of eight runners or more and is available on most dog races.
- The combination tricast allows you to predict the 1st, 2nd and 3rd place of an event. The three selections you choose can be in any order of the top 3 for you to win, this gives you 6 possible winning combinations.
- A Quadpot is available on one race at every horse meeting in the UK and it takes place on the third to sixth races on the card unless stated otherwise. To win a return on a quadpot. You must choose one horse to place at each of the races.
- The bet will lose if any one of your picks are not placed.
- A placepot requires the better to select a placed horse in six consecutive races (usually the first six on the card at any given meeting). To win a return on a placepot, all six of your chosen selections must place in all six races. The places are usually 1st, 2nd and 3rd.
Place a bet online
Now we know the different types of bets available, let’s put our knowledge to use with our step by step guide to to placing a bet online.
If there are any type of bets that I have missed, please leave a comment below and allow us to update our list.