Patent betting can be both exciting and a tad overwhelming at first, especially for a beginner.
In this article, I’ll explain what a patent bet is, how it works and share a simple example. Let’s take a deeper look…
What is a Patent Bet?
A patent bet is a popular form of multiple bet that involves three selections. Unlike some other betting types that require all your selections to win for you to get a return, a patent bet offers a bit more cushion. Comprising seven bets in total, it covers every possible combination from three selections.
How a Patent Bet Really Works…
Diving into the details, a patent bet breaks down as follows:
- 3 single bets
- 3 double bets
- 1 treble bet
This means that even if only one of your three selections is successful, you still get a return from the singles. If two selections win, then two singles and one double will pay out. And, of course, if all three selections come through, then all seven bets will yield a return.
Example of a Patent Bet:
Imagine you’re betting on the outcomes of three football matches: Match A, Match B, and Match C. If you bet on the winner for each match and only the team from Match A wins, you’ll get a return on that single bet. If teams from Match A and Match B win, you’ll get returns on two singles and one double. If all three teams win their matches, then you’ve hit the jackpot with all seven of your bets!
How to Calculate a Patent Bet Winnings
To work out your winnings for a patent bet, you need to convert fractional odds to decimal odds, divide the numerator by the denominator and then add one. For instance, 2/1 translates to 3.0, whereas 9/4 becomes 3.25. From there you can calculate the respected patent betting lines.
- For the singles; multiply the decimal odds by your stake for the total return (stake included).
- For the doubles; multiply the odds of the first selection by the odds of the second for the total return (stake incorporated).
- For trebles; multiply the odds of the first, second, and third selections together for the cumulative return (including the stake).
It’s really quite simple when you focus on the individual bets within the patent.
How Does Each-Way Patent Betting Work?
An each-way Patent bet means every included bet is placed each-way, resulting in a total of 14 bets. Consequently, the overall stake for an each-way patent is twice that of a regular Patent.
Opting for an each-way patent offers significant advantages. You’ll receive payouts for horses that place and for those that clinch victory in their races. It’s particularly advantageous during events like Cheltenham, where discerning punters might spot value in higher-priced horses amidst large fields.
When making an each-way patent wager, it’s strategic to choose selections where the payout for placing at least matches, if not exceeds, your initial stake.
Typically, bookmakers pay approximately 1/5 of the win odds for the ‘place’ component of each-way racing bets. For instance, a £1 each-way wager (totalling £2) on a horse with 5/1 odds yields an even payout if your horse places. This means you’d get a £1 profit along with your £1 stake returned from the successful place bet.
The Difference Between Patent and Trixie:
A trixie bet and a patent both involve making three selections. However, the distinguishing factor is that a trixie excludes single bets, constituting only four bets in total: three doubles and one treble. Choosing a trixie might be preferable over a patent when you’re dealing with three selections with shorter odds. This is because the payouts from the single bets in such a scenario would be comparatively minimal.
Opting for a trixie spares you the stake for the three single bets, potentially giving you the leeway to allocate a more substantial unit stake on the three doubles and the treble.
Conclusively, a patent bet offers a strategic balance of risk and reward for those looking to increase their chances of seeing a return. It’s especially enticing for beginners due to the level of coverage it provides. Remember, like all forms of betting, understanding the ins and outs and betting responsibly is the key to a fun and positive experience.