If someone says the word Heinz, the first thing that comes to mind is probably the baked bean company. But, it is actually a betting term and quite a popular one that you may not be acquainted with yet.
But if you become familiar with this bet, it can help you boost your profits as we will show you in this article.
What is a Heinz bet?
Believe it or not, a Heinz bet is actually named after the Heinz food company. This is because a famous old advert of theirs had an advertising slogan that said “57 varieties of pickles”. And yep, you guessed it – a Heinz bet consists of 57 different bets.
To create a Heinz, you must add 6 different selections to your bet slip. The 57 different wagers are made up of 15 doubles, 20 trebles, 15 four folds, 6 five folds, and 1 6 bet accumulator. It is a full cover bet that covers for every single eventuality.
But you must keep in mind that because there are 57 different bets, your stake will be multiplied 57 times. So it can get pretty expensive if you fail to adjust accordingly.
Heinz Bet Example
For the purpose of this example, imagine that you want to bet on 6 different horses and add each to your betslip:
A, B, C, D, E & F
A Heinz will consist of the following bets:
|6 Singles||A, B, C, D, E, F|
|15 Doubles||Every combination of double between the horses A & B & C & D & E & F|
|20 Trebles||Every combination of treble between the horses A & B & C & D & E & F|
|15 Fourfolds||Every combination of four-fold between the horses A & B & C & D & E & F|
|6 Fivefolds||Every combination of five-fold between the horses A & B & C & D & E & F|
|1 6 Fold accumulator||A & B & C & D & E & F|
For the purposes of this example, we will use just a stake of £1 per bet, which gives a total outlay of £57. As we said, this can be an expensive bet to put on due to all of the different permutations!
To keep things simple, we will assume that each bet has odds of just 2.0. You can use this to judge the number of horses you need to win to see a profit.
So, if just 1 Horse won, you would have a miserly return of just £2 and a total loss of £55. Should Horse A & B win, you will have a return of £4 and a loss of £53. And even if a treble wins, you will have a return of £26 and a total loss of £21.
Once you have four horses win, your return will jump to £90, which gives you a profit of £33. This shows the importance of betting at bigger odds if you would like a return should just 1, 2 or 3 different selections win.
However, if every single selection wins, you’ll be counting a lot of cash as you will have a return of £716, and a total profit of £659!
And what if you were to choose larger odds? Well, should you pick 6 horses with odds of 5, then you’re looking at a huge return if every bet wins. £46,568 to be exact, which shows the importance of picking bets with great odds!