Patent Betting Explained
The world of sports betting offers a wide range of opportunities (e.g. live betting), but punters are often unfamiliar with all the available markets. Patent betting is one of these markets. If you don’t know what type of wager this is, continue reading to discover more.
What is Patent Betting?
Patent betting meaning: this is a multiple bet with seven wagers of the same value, placed on three dissimilar selections. The seven wagers include one treble, three double bets, and three single bets. Since the patent is a cover wager, the gambler will get a return even if one of the three selections is successful.
The punter can pick the three selections from the same competition, different events, or sports. Potential winnings primarily depend on the sports or events you choose. If the outcomes favour the bettors, they can earn a profit even if just one of the three selections wins.
A patent bet meaning is quite simple, it is a multiple bet consisting of three different selections, all of which must be successful for the bet to win. A patent bet is more difficult to win than a single or double, but the potential payouts are much higher.
To win a patent bet, all seven of your selections must be successful. If any of your selections fail to win, the whole bet will be lost. If you’re thinking of placing a patent bet, it’s important to remember that your chances of success are relatively low.
Patent bet meaning that you are placing seven separate bets, each of which has its own chance of winning or losing.
The patent bet is a popular choice for horse racing and football fans, as it offers the potential for a large return on a small investment.
A patent bet football is a type of bet that allows you to bet on three outcomes in a single game. This type of bet is also known as a trixie bet or a treble bet.
A patent bet horse racing is a type of bet that involves picking three horses to finish first, second, and third in a race. The bet is named after the type of wager, which was invented by British bookmaker Harry Ogden in 1852.
How to Place a Patent Bet?
Placing a patent bet isn’t a difficult task to carry out. There are a few steps that you must go through in order to place your patent bet. Obviously, you need to have a sportsbook account before you can start the process of placing a patent wager.
When choosing a sportsbook to sign up with, you need to consider various features, including a range of markets, bonuses and promotions available, mobile betting, payment options, speed of transactions and competitive odds, to mention just a few. Once you have identified the best sports betting company and have an active account, you only need to complete the following tasks to place your patent wager.
- Choose the selections from different events and enter them into your betting slip.
- Enter the stake you’re comfortable with and whether you wish your bet to work each way.
- Press the Place Bet button to place your wager, sit back and hope to receive a return.
How to Calculate Patent Bet Winnings?
Calculating the potential patent sports betting winnings can be a challenging task. However, there is a simple way to calculate your winnings. Before you can start calculating your patent bet winnings, you need to know the odds for each of your three selections.
To help you understand how you can calculate your winnings, we have this simple patent bet example for you. This example uses an initial stake of £1 and some commonly occurring odds. Here are the steps:
Know the Odds
- Selection One: 3/1
- Selection Two: 4/1
- Selection Three: 6/1
Add Two Units to the Odds
- 6/1 + 2 = 8
- 4/1 + 2 = 6
- 3/1 + 2 = 5
Multiply the New Odds
- 8 x 6 x 5 = 240
Subtract One Unit that Accounts for your Stake
- 240 – 1 = 239
Alternatively, you can work out each of the three single wagers (3/1, 4/1, 6/1), the three doubles (3/1 +4/1, 3/1 + 9/4, 4/1 + 6/1) and then add the sum of these equations to the treble total (3/1 + 4/1 + 6/1) for the total payout that represents your return on investment. If you do not want to calculate your potential winnings manually, you can use a patent bet calculator.
Each Way Patent Bet Explained
An each-way patent is a bet in which every wager is an each-way bet. Due to this, it includes 14 wagers, and the total stake is double that of the normal patent. An each-way bet offers massive benefits that you can enjoy. You will not only receive a return for each selection that places but also every selection that is successful. When you’re placing an each-way patent bet, it is essential to include selections for which an each-way single place payout equals to or is more than your initial stake.
Sportsbooks typically pay approximately 1/5 of the winning odds for the place part of each-way wagers. As such, a £10 each-way wager costing £20 on a 5/1 selection pays out at evens if the selection places. That means your return would be your £10 profit, plus the £10 returned stake for the successful place wager.
Keep in mind that an each-way wager is popular among punters who love to place bets on horse and greyhound races. Here is an patent each way bet example. Let’s choose three horses from the same event and place an each way bet patent. Take the original stake to be £10 for each wager. For the standard patent bet, the total stake will be £70. But the total stake will double (£140) when it comes to an each way betting patent.
In a standard each-way patent, there are only three doubles, three singles and a treble. But this time, each of these seven wagers depends on the top three or four finishes instead of the overall winner when it comes to paying. The only difference between the standard and patent bet each way is the luxury provided by doubling the seven patents to 14 wagers to provide room for the top three or four finishes.
Patent bets blend smoothly with occasions where you’ve three selections that you feel can win, but you want to do more than just back a treble. The main reason for this is that, while patent wagers have trebled, they also break down into six more bets, including three singles and three additional doubles. All of these permutations build up and create one massive payout on anything between one and seven winners.
The best part is that you can place a patent bet on any sport or event. On top of that, you can choose a selection from more than two sports. And that means, whether you love greyhound racing, horse racing, motorsports racing, darts, football, tennis, netball, basketball or motorsports, you can be able to place a bet on your favourite online betting platform.
To summarise, patent betting can result in massive returns if the outcomes work in your favour. The fact that patent bets allow you to make multiple selections contain the betting damages to the minimum, combined with the fact that a variety of sports supports these wagers make the patent bet the best choice for both inexperienced and experienced bettors.