You may be confused by all of these funny sounding names that are given to different types of bets available. The truth is, they make the bets sound a lot more complicated than they actually are.
The aim of this article is to help you understand exactly what a Patent bet is, so you can use them effectively with your betting.
What is a patent bet?
A Patent bet, is actually pretty similar to a Trixie bet, if you’ve heard of that. The only difference is that a Patent is a ‘full coverage bet’. This means that every single betting angle is covered. So if you only have 1 winner? Don’t worry, because a Patent gives you a return even if that’s the case.
A patent consists of 7 different bets in total. This includes three singles, with one bet on each selection. The three possible doubles, and one treble. You need just one selection to win to have a return, but profit depends on the odds that you choose.
Because you have 7 different combinations of bets, your stake is multiplied by 7 to cover these.
For this example, let’s imagine that you have studied the form and have 3 horses at juicy odds that you want to bet on.
Horse 1, Horse 2 & Horse 3.
Your Patent bet will consist of the following bets:
|Singles||Horse 1, Horse 2, Horse 3|
|Doubles||Horse 1 & Horse 2, Horse 1 & Horse 3, Horse 2 & Horse 3|
|Trebles||Horse 1 & Horse 2 & Horse 3|
As we mentioned, your stake will be multiplied 7 times to cover each of these bets, so you should adjust your stake accordingly. For the purpose of this example, we will use £10 stakes, so the total bet would be £70.
To make this example straight forward, let’s pretend each horse is priced at odds of 5.0. So should only Horse 1 win, you can expect a return of £50, which gives you an overall loss of £20. But it’s a good way of covering yourself.
If Horse 1 & Horse 3 wins, then you will win one of the doubles and 2 single bets. This gives you a £100 return on the singles and a £250 return on the double. Overall, your profit will be £280.
Finally, should all of the horses win, then the money really starts to roll in! You win £150 from each of the single bets that were placed. Following that, you win each of the doubles, which gives you £750 additional return. Finally, your treble will bring in a huge £1250 of money, so your total profit will be an astonishing £2080.
As you can see, this makes these Patent bets extremely lucrative should two or more selections win, and you pick good odds.
It’s worth considering the odds before you place the bet though. If you were to choose odds of evens, you would only get a return of £20 per single. And if just two horses won you would only have a return of £80, giving you just £10 profit.