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If you’re a betting enthusiast, you know that the UK is a hub for different types of bets. From single bets to complex accumulator bets, there are lots of options to choose from. However, with so many types of horse racing bets available, it can be overwhelming to understand how each bet works and if it’s right for you.
That’s why we’ve put together this guide to break down the most popular types of bets in the UK. The good news is that they can be used on various sports and betting events, including football. So regardless as to whether you’re a seasoned gambler or just starting out, we’ve got you covered.
Importance of Understanding Bet Types
If you’re into betting and don’t want to just throw money down the drain, it’s crucial to understand the different types of bets available in the UK. Knowing the ins and outs of each type of bet can make a huge difference in your overall betting experience. By understanding the various bets at your disposal, you can make more informed decisions and improve your gambling knowledge.
Furthermore, knowing the different types of football bets and horse racing bets, allows you to diversify your betting strategy. Rather than just placing single bets, you can explore more complex betting options like accumulators and patents. By diversifying your betting strategy, you can lessen the impact on your bankroll and potentially increase your chances of winning.
So taking the time to learn about the betting options at your disposal will definitely be time well spent.
Types of Bets in the UK
The different bets available in the UK are vast, but can generally fit in to three different categories. These categories are singles, multiples and Specials, and each of the bet types in each group can be found below.
Single Bet Types
This type of bet is probably the most well know, simplest and straightforward type of bet. As the name suggests, a single bet is a wager placed on a single event or outcome. For example, you might place a single bet on your favourite football team to win their next game.
Single bets are great for beginners or for those who prefer a more straightforward betting approach. They’re easy to understand and require little research or analysis. Plus, they can be a great way to test the waters and get a feel for betting without risking too much money.
Single bets can also benefit from promotions from certain book makers, such as these early payout betting sites. this offer is great for a win bet in the big football leagues.
Win bets, also known as straight bets, are a type of single bet that focuses solely on the outcome of a particular event. With a win bet, you’re simply betting on the outcome of the event – either your chosen team, horse or player will win, or they won’t.
One thing to keep in mind with win bets is that the odds can vary widely depending on the event and the teams or players involved. For example, if you’re betting on an underdog team, the odds may be higher but the chances of winning may be lower. On the other hand, if you’re betting on a favourite team, the odds may be lower but the chances of winning may be higher.
Place bets are a type of bet that focuses on the placement of a participant in a particular event, rather than the outcome of the event itself. For example, you might use a place bet on a horse to finish in the top three positions in a race, such as the Grand National.
Place bets are popular in horse racing and other events where there are multiple participants or teams. They offer a lower risk alternative to win bets, as you’re not betting on the outright winner of the event. Instead, you’re betting on the placement, which can be a bit easier to predict.
One thing to keep in mind with place bets is that the odds are generally lower than win bets, usually around a quarter of the odds available, as there is less risk involved. However, this also means that the potential payout is lower, so it’s important to manage your expectations and not get too greedy.
Each-way bets combine both a win bet and a place bet into one wager. With an each-way bet, you’re essentially placing two bets – one on the team or player to win, and one on them to place.
These are popular horse racing type of bets, as well as other events where there are multiple participants or teams. They offer a bit more flexibility and a bit less risk than straight win bets, as you’re still able to win some money even if your team or player doesn’t come in first place. Similar to how a Double Chance bet works.
It’s worth noting though that each-way bets are more expensive than singles, as you’re essentially placing two bets in one. So if you back a runner at the Cheltenham Festival, an E/W bet will be double your usual stake.
Multiple Types of Bets
Multiple bets are a type of bet that involves placing wagers on multiple events at once. With a multiple bet, you’re essentially combining several individual bets into one larger bet.
There are several types of multiple bets, including doubles, trebles, accumulators, and more. Each type of multiple offers a different level of risk and potential payout. For example, a double bet involves betting on the outcome of two events, while a lucky 15 has 15 possible outcomes from four selections.
These bets are popular among experienced bettors who are looking to maximize their knowledge in the hope of a bigger payout. However, they also come with a higher level of risk and cost.
Accumulator bets, also known as acca bets, are a type of multiple bet that involves betting on the outcome of several events at once. With an accumulator bet, you’re essentially combining several individual bets into one larger bet.
The potential payouts for accumulator bets can be huge, as the odds for each individual bet are multiplied together to create a much larger payout. However, the risk is also much higher, as all of the individual bets must be correct in order for the accumulator bet to pay out. Although cash out betting can be used to mitigate that risk, especially if your selections have staggered start times.
Trixie bets are a multiple that involves placing wagers on three events at once. With a Trixie bet, you’re essentially combining three individual bets into one larger bet, three doubles and one treble.
The great thing about Trixie bets is that you don’t need all three selections to win in order to see a payout. Instead, you can still win some money even if only two out of the three individual bets are correct. However, the amount of money you’ll win will be lower than if all three individual bets were correct.
Patent bets are another type of multiple bet that involves placing wagers on three events at once. Like the Trixie bet, a Patent bet combines three individual bets into one larger bet.
The difference with a Patent bet is that you’re also placing a series of single bets on each of the three events. This means that if only two selections are correct, you’d win the double bet and two singles.
Patent bets can be a good option for anyone who wants to spread their risk across multiple bets. They can also be a great way to potentially win some money while still having some cushion in case not all of the bets are correct.
A Yankee bet is a type of wager that actually includes a total of 11 separate bets on four different events. Basically, it works like this: you pick four different things you want bet on, like maybe four horses in four different races. Then, you place eleven bets in total – six doubles, four trebles, and one four-fold accumulator.
The cool thing about a Yankee bet is that you only need two of your four picks to come in to make some money. And if all four of your picks win, you could be in for a big payout.
Lucky 15 Bet
A Lucky15 bet is where you pick four different selections and place a total of 15 bets on those selections. That’s four singles, six doubles, four trebles, and one four-fold accumulator.
So with just a couple of winners you can stand to break even or make a small profit, depending on their odds.
A Canadian bet, also known as a Super Yankee, is a type of wager that includes five different selections and a total of 26 bets. You’ll be placing a total of ten doubles, ten trebles, five four-fold accumulators, and one five-fold accumulator.
Lucky 31 Bet
As you may have worked out, a Lucky31 bet is a step up from the Lucky15, and involves picking five different selections and placing a total of 31 bets. That’s five singles, ten doubles, ten trebles, five four-fold accumulators, and one five-fold accumulator.
A Heinz bet is a type of wager that involves picking six different selections and placing a total of 57 bets. Yes it’s actually named after the beans company. You’re placing 15 doubles, 20 trebles, 15 four-fold accumulators, 6 five-fold accumulators, and 1 six-fold accumulator.
The thing about a Heinz bet is that it’s a high-risk, high-reward type of wager. Even if just a few of your selections come in, you could still make a profit thanks to the number of bets involved. But if all six of your picks win, well, you could be in for a massive payout!
Lucky 63 Bet
A Lucky63 is a bet that involves picking six different selections, just like the Heinz, but you are placing a total of 63 bets. That’s six singles, fifteen doubles, twenty trebles, fifteen four-fold accumulators, six five-fold accumulators, and one six-fold accumulator.
Super Heinz Bet
A Super Heinz is a step up bet that involves picking seven different selections and placing a total of 120 bets. That’s 21 doubles, 35 trebles, 35 four-fold accumulators, 21 five-fold accumulators, 7 six-fold accumulators, and 1 seven-fold accumulator.
A Goliath bet is called the Goliath for a reason. It involves picking eight different selections and placing a total of 247 bets. That’s 28 doubles, 56 trebles, 70 four-fold accumulators, 56 five-fold accumulators, 28 six-fold accumulators, 8 seven-fold accumulators, and 1 eight-fold accumulator.
The chances of landing all eight picks is rare, but if you do, you’re in for a ridiculous payout.
The alphabet bet is a type of multiple bet in which you select at least six different selections from various events, and then place a separate bet on each possible combination of those selections. The bet gets its name from the fact that the combinations total the same number of letters that are in the alphabet.
It consists of two patents (14 bets), one Yankee (11 bets) and a six-fold accumulator (one bet).
Special bets are generally really complex bets that involve multiple options from those listed, or a slight twist on standard bets. Not all online bookies offer these bets, so make sure you check before compiling your special bet.
Single Stakes About Bet
A Single Stakes About (SSA) is a type of bet that involves selecting two events, typically in horse racing or other sports, and placing two single bets on each event. The bettor’s stake is split evenly between the two singles.
If the first single bet wins, the return is used to fund the second single bet on the second event, up to the original stake amount. Similarly, if the second single bet wins, the return is used to fund a single bet on the first event, up to the original stake amount. This means that the bettor has the potential to win from both events with a single stake, while also limiting their potential losses.
Double Stakes About Bet
A Double Stakes About (DSA) is similar to the SSA. But the difference beings, if the first single bet wins, the return is used to fund a single bet on the second event, up to double the original stake amount. The same goes for if the second single bet wins.
Round Robin Bet
To create a round robin bet, you choose at least three different selections for different games or races. Then, you group these selections together into separate parlays. Each parlay will include a different combination of the selections.
The Round Robin is compiled of ten bets in total: three doubles, one treble and three up-and-down single stakes about pairs.
Flag bets consist of a total of 23 bets from six selections. Four doubles, one treble, and six singles. The doubles and treble are created by combining three, four, or five different selections, while the singles are separate bets on each individual selection.
The name “flag” comes from the pattern the bets create on a betting slip – it looks like a flag! Flag bets can offer some flexibility and the potential for higher payouts, as they include multiple bets. However, they can also be more expensive than single bets, as you’re placing multiple wagers.
Super Flag Bet
Another step up bet, super flag are a bet type that can add some extra excitement and potential for big payouts to your betting experience. The difference with a super flag bet is that it includes more selections, which means more potential combinations and higher payouts. A super flag bet consists of a total of 46 bets – 10 doubles, 10 trebles, five four-folds, and one five-fold. Like with a regular flag bet, there are also six singles included.
Super flag bets can be a bit more complex and expensive than other types of bets, but they can offer a chance to win big if you’re lucky enough to correctly predict the outcome of multiple selections.
Super Heinz Flag Bet
You’ve probably guessed by now that if the word appears in front of types of horse racing bets, then it’s a jacked up version of that bet.
With a super Heinz flag bet, the bet includes 21 doubles, 35 trebles, 35 four-folds, 21 five-folds, seven six-folds, and one seven-fold. As with other flag bets, there are also six singles included.
Goliath Flag Bet
This is another variation of the flag bet, but with even more combinations. A goliath flag bet is made up of 303 bets, including eight selections in total. These bets include 28 doubles, 56 trebles, 70 four-folds, 56 five-folds, 28 six-folds, eight seven-folds, and one eight-fold. As with other flag bets, there are also six singles included.
Union Jack Bet
A union jack bet is a bit different from other types of wagers, as it involves making multiple bets, but in a unique pattern that resembles the Union Jack flag. This type of bet can include anywhere from nine to 24 selections, depending on the specific union jack pattern being used.
The bets in a union jack bet are often made up of various multiples, including doubles, trebles, and four-folds. Because of the unique pattern of this type of bet, the outcomes can be quite unpredictable, making it a high-risk, high-reward wager.
A forecast bet involves predicting the first two finishers in a race, game, or event, in the correct order. This can be a bit tricky, as you have to correctly predict both the winner and the runner-up, and in the right order.
Forecast bets are common in horse racing and greyhound racing, but can also be used in other sports and events. They can be a bit more challenging than some other types of bets, but they also offer the potential for big payouts if you’re lucky enough to correctly predict the outcome.
Reverse Forecast Bet
A reverse forecast bet is similar to a forecast bet, but with a twist. Instead of predicting the first two finishers in a race, game, or event in the correct order, you simply need to predict the first two finishers, regardless of the order they finish in.
This type of bet can be a bit easier than a straight forecast bet, as you don’t need to worry about the exact order of the finishers. However, it can still be challenging, as you need to correctly predict both the winner and the runner-up.
Match betting is a bit of a taboo subject with online bookmakers, as some see it as a way of gaming the system. It involves a betting technique used to profit from the free bets and welcome bonuses offered by bookmakers.
The placepot bet is a popular horse racing types of bet. It involves selecting a horse to place in each of the first six races on a given race card. If all of your selected horses finish in the top two or three places (depending on the number of runners), you win the bet.
The jackpot bet is a popular horse racing and type of football bet, but can also be used in various sports, including, rugby, and basketball. It involves selecting the winners of a series of matches or race cards over a set period of time, often a week or a weekend. If you correctly predict the winners of all the matches, you win the jackpot.
Spread betting is a type of wager that involves predicting whether a particular outcome will be above or below a set range, known as the spread. It’s a popular form of betting on various events, but is more commonly used in America.
Unlike traditional betting, where you win or lose based on whether your prediction is correct, in spread betting, you win or lose based on the degree to which your prediction is correct. Spread betting can be a bit more complicated than other types of betting, as you need to be familiar with the concepts of spreads, margins, and other technical terms. But once you get the hang of it, it can be a thrilling way to bet on a wide range of events.
In-play betting, also known as live betting, is a type of wagering that allows you to place bets on an event while it’s still in progress. This means that you can adjust your bets based on how the event is unfolding and potentially increase your winnings or minimize your losses.
In-play betting is becoming increasingly popular among sports fans, as it adds a new level of excitement and engagement to watching live events. You can place bets on everything from who will score the next goal to how many points a team will score in a specific quarter.
Tips for Picking the Right Type of Bet
- Understand the rules: Before placing a bet, make sure you understand the rules of the game and the specific type of bet you want to make. Different bets have different rules, so it’s important to be clear on what you’re betting on and how the bet will be settled.
- Consider your budget: It’s essential to have a budget in mind before placing any bets. Make sure you only bet what you can afford to lose, and avoid chasing losses by betting more than you can afford.
- Analyse the odds: The odds can give you an idea of how likely a particular outcome is to occur, and how much you stand to win if it does. Consider the odds carefully before placing a bet, and look for value where possible.
- Know your sport: Understanding the sport you’re betting on can give you an advantage when choosing the right type of bet. Knowing the teams or players involved, their recent form, and any other relevant factors can help you make more informed decisions.
- Consider your betting style: Different types of bets suit different betting styles. If you prefer to take a more cautious approach, you may want to consider simple bets like singles or doubles. If you’re more of a risk-taker, you may prefer more complex bets like accumulators or system bets.
Remember, there’s no one-size-fits-all approach when it comes to choosing the right type of bet. It’s important to take the time to consider your options, do your research, and choose the bet that’s right for you.
Summary of Bet Types
Well, there you have it, a rundown of some of the most popular types of bets you can place on horse racing, football and many other sports in the UK. From single stakes to jackpot bets, each one has its own unique features and advantages. So, take the time to consider your options, do your research, and don’t be afraid to try out different types of bets to find what works best for you. And of course, always remember to gamble responsibly and within your means. Good luck and happy betting!