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BEGINNER'S GUIDE TO SPORTS BETTING TYPES OF BET

There are many sports betting types of bet besides a straight "win" and "each way". If you don't know a Trixie from a Patent or a Lucky 63 from a Yankee, then my Beginner's Guide to UK horse racing betting is for you. It could help to make your horse racing more enjoyable and more profitable.

HOW TO PLACE A BET

Online: To place a bet online using one of the types of bet listed below you must first register with a site and open a betting account. Funding options for your betting account vary from site to site, but Betfair and Ladbrokes offer their clients a wide range of choices including payment via Bank Transfer (BACS), personal cheque, PayPal, Neteller, Western Union as well as credit and debit card. The minimum single bet at a online bookmaker varies from a few pence to GBP1.00.

Betting shop: And if you prefer visiting a betting shop to place a bet, you will be pleased to know that all UK betting shops have pre-printed betting slips for most types of bets listed below - name shown next to bet type). If you have any difficulty finding the correct betting slip or completing it just ask a member of the shop's staff for assistance.

EACH WAY:
You bet on a horse to Win or be Placed. However the term "placed" can vary depending on the type of race and the number of runners: The place portion of this bet pays out at 1/4 of the win odds. A GBP1 unit stake Each Way bet would cost GBP2 (GBP1 win + GBP1 place). For example, if the horse wins at odds of 8/1 the GBP 1 win portion of the stake is multiplied by 8 and returned with the original GBP1 win betting stake paying out GBP9. And the GBP1 place portion of the betting stake is multiplied by 1/4 of the odds i.e. 2 with the original GBP1 place betting stake paying out GBP3 - thus total winnings of GBP12. But If your horse finishes second, third or fourth the GBP1 win portion of the stake is lost and ONLY the GBP1 place part of the betting stake is multiplied by 1/4 of the odds i.e.2, resulting in total winnings of GBP3. Betfair offers Each Way Edge, you can take extra or fewer places than the standard Each Way betting terms. See Place

Watch video showing how to calculate Each Way and Accumulator bets.
2 to 4 runners = no place pay out
5,6 or 7 runners = first two
8 or more runners = first three
16 or more in a handicap = first four

PLACE (Betfair):
Unlike an Each-Way bet (as above) which consists of two bets, a Betfair Place bet is just one bet and pays out the same winnings whether your horse wins or is placed. So a GBP2 unit stake Place bet would cost a total of GBP2.

DOUBLE:
A double links two separate events. But in order to win your prediction for both events must be correct. For example, one event could be the name of the first player to score a goal in a particular football game; and the second event could be the name of the horse to win the Derby. And it is not limited to just predicting the outcome of two sporting events but can be used to include two totally unrelated events, for example, the name of this year's Booker Prize winner and the name of the candidate to become the next US president. See Permutation at the bottom of this page.

DUTCHING:
Refers to betting on more than one horse in a race to improve your chances of winning. But you must ensure the odds of each of your selections are big enough so that if one of your selections wins your winnings are enough to not only to cover the losses on your other selections, but also show a profit. Please watch video below for an informative and more detailed explanation of Dutching.

TREBLE:
This bet works in just the same way as a Double (above). The only difference is that you have added a third event.

TRIXIE: Bet slip: Ladbrokes Trixie / Patent
A bet covering three horses for a total of 4 bets: three Doubles (A + B, A + C, B + C) and one Treble (A + B + C). A GBP1 unit stake Trixie win bet requires a total stake of GBP4 (GBP1 x 4 Bets) or GBP6 Each-Way. See Patent
NB: To calculate the total stake you multiply the unit stake by the number of bets.

PATENT: Bet slip: Ladbrokes Trixie / Patent
Like a Trixie (above) but with the addition of three single bets: giving a total of 7 bets: three singles (A,B and C), three Doubles (A + B, A + C, B + C), and one Treble (A + B + C). A GBP1 unit stake Patent win bet requires a total stake of GBP7 and GBP14 Each-way.

YANKEE: Bet slip: Betfred Yankee+Multibet / William Hill Super + / Ladbrokes Yankee Multibet
Four horses are combined in a total of 11 bets: six Doubles, four Trebles and an Accumulator. You can choose to add Each Way and four singles to the Yankee, which would increase your chance of winning but also increase the stake. Two winners are required to get a return. A GBP1 unit stake Yankee win bet requires a total stake of GBP11 and GBP22 Each-way. See Lucky 15.

LUCKY 15: Bet slip: Befred Lucky 15 / William Hill & Ladbrokes Lucky 15 - 31 - 63
Like a Yankee (above), but with the addition of four singles giving a total of 15 bets, hence the name. If you only have one winner it is paid at double the odds. A GBP1 unit stake Lucky 15 win bet requires a total stake of GBP15 and GBP30 Each-way.

FIVESPOT: Bet slip: Ladbrokes Fivespot
Five horses are combined in a total of 15 bets: five Singles, four Doubles, three Trebles, two x Four-fold Accumulator and an Accumulator. You need one winner to get a return. A GBP1 unit stake Fivespot win bet requires a total stake of GBP15 and GBP30 Each-way.

CANADIAN / SUPER YANKEE: Bet slip: Betfred Canadian+Multibet / William Hill Super + / Ladbrokes Yankee Multibet
Five horses are combined in a total of 26 bets: ten Doubles, ten Trebles, five x four horse Accumulator and an Accumulator. You need two winners to get a return. A GBP1 unit stake Canadian / Super Yankee win bet requires a total stake of GBP26 and GBP52 Each-way. See Lucky 31

LUCKY 31: Bet slip: William Hill & Ladbrokes Lucky 15 - 31 - 63
Like a Canadian (above), but with the addition of five singles making a total of 31 bets (hence the name). If you only have one winner it is paid at double the odds. A GBP1 unit stake Lucky 31 win bet requires a total stake of GBP31 and GBP62 Each-way.

HEINZ: Bet slip: Betfred Multibet / William Hill Super + / Ladbrokes Yankee
Six horses combined in a total of 57 bets: fifteen Doubles, twenty Trebles, fifteen x four horse Accumulator, six x five horse Accumulator and an Accumulator. You need at least two winners to get a return. A GBP1 unit stake Heinz win bet requires a total stake of GBP57 and GBP114 Each-way.

LUCKY 63: Bet slip: Betfred Lucky 63 / William Hill & Ladbrokes Lucky 15 - 31 - 63
Six horses are combined in a total of 63 bets: six Singles, fifteen Doubles, twenty Trebles, fifteen x four horse Accumulator, six x five horse Accumulator and an Accumulator. If only one selection wins, returns are paid to double the odds. If all six selections win, a bonus of 20% is added to total returns. For the bonus to apply, all selections must win (none void or non-runners). For each-way bets the consolation is paid only on the win part of the bet . A GBP1 unit stake Lucky 63 win bet requires a total stake of GBP63 and GBP126 Each-way.

SUPER HEINZ:-Bet slip: Betfred Multibet / William Hill Super + / Ladbrokes Yankee Multibet
Seven horses are combined for a total of 120 bets: twenty one Doubles, thirty five Trebles, thirty five x four horse Accumulator, twenty one x five horse Accumulator, seven x six horse Accumulator and an Accumulator. You must have at least two winners to get a return. A GBP1 unit stake Super Heinz win bet requires a total stake of GBP120 and GBP240 Each-way.

GOLIATH: Bet slip: Betfred Multibet / William Hill Super + / Ladbrokes Yankee Multibet
Eight horses are combined for a total of 247 bets: twenty eight Doubles, fifty six Trebles, seventy x four horse Accumulator, fifty six x five horse Accumulator, twenty eight x six horse Accumulator, eight x seven horse Accumulator and an Accumulator. You need at least two winners to get a return. A GBP1 unit stake Goliath win bet requires a total stake of GBP247 and GBP 484 Each-way.

BETFAIR FIXED ODDS: Visit Betfair Sportsbook
Betfair fixed odds betting is the same type of betting offered by traditional bookmakers. Thus, you can only place conventional win, place and accumulator bets. Betfair Sportsbook is separate section of the exchange site, and the minimum stake is 10p.

PERMUTATION BET:
This option allows you to combine several horses in one type of bet to increase your chances of winning. In this example: four horses (A,B,C,D) are permed in a Doubles only bet (A + B, A + C, A + D, B + C, B + D, C + D) = 6 DOUBLES. On the betting coupon write "£1 Doubles x 6 = £6". This type of permed bet, unlike a Patent, Yankee or Lucky 15, has the advantage of requiring a smaller stake because you have eliminated the singles, trebles and Accumulator option. The disadvantage, of course, is that if 3 or more of your selections win your winnings are calculated as Doubles only. This bet based on a GBP 1 unit stake, as indicated, would cost GBP6. And 'perming' five horses in a GBP1 unit stake Doubles bet would cost GBP10. See more permed Doubles bet calculations below. If placing a Doubles Bet online the total cost is automatically calculated and displayed after you enter the unit stake in the Multiple Bet portion of the bet slip - see screenshot below . The projected winnings from your bet will only be shown If all of your selections have their betting price displayed.

ADVICE: To improve your chances of having more winning bets without having to stake a lot of money, I recommend you limit your race betting to either a straight win bet, Each Way/Place bet or perm 4 - 6 horses in a Doubles only bet - as shown in the permutation example above.

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