Patent Betting
What is a Patent Bet?
A Patent Bet is a type of combination bet that’s based on three selections. If you’re asking, ‘what is a Patent Bet?’ there’s more information in our guide.WELCOME TO THE BOYLESPORTS BLOG & NEWS SITE
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These three selections form seven different bets, based on every possible outcome from those three selections. This creates a bet consisting of one treble, three doubles and three singles.
You may hear a Patent Bet explained in similar terms to a Trixie Bet. The two bets are similar, but Trixies don’t include the three single bets. This means that Patent Betting can be considered a safer option, as only one selection needs to win in order to receive a payout.
Indeed, if the odds on one of your selections are longer than 7/1, it’s possible to turn a profit on only one leg of a Patent Bet. This means they’re very interesting for bettors looking to hedge their bets. If you’re still asking, ‘what is a Patent Bet?’ there’s more information below.
How do you make a Patent Bet?
It couldn’t be easier to make a Patent Bet online. Simply add three selections from three different events to your betslip and choose the Patent option. There should be a ‘x7’ indicator, reflecting the seven different legs of the bet. The stake you enter is for each leg and will therefore be multiplied by seven to generate your total stake.Patent Bets are possible across a wide range of sports but are particularly popular in football betting and horse racing betting. Taking horse racing as an example, you need to pick three winners from three different races to qualify for a Patent Bet. The format of the bet will then be as follows:
Bet 1 – Horse 1 single
Bet 2 – Horse 2 single
Bet 3 – Horse 3 single
Bet 4 – Horse 1 and Horse 2 double
Bet 5 – Horse 1 and Horse 3 double
Bet 6 – Horse 2 and Horse 3 double
Bet 7 – Horse 1, 2 and 3 treble
Standard Patent Bets are win only. In racing, this means your horse must win in order to produce a successful leg of the bet.
You can choose an each way Patent Bet to cover you in case any of your horses don’t win, meaning you can still achieve a payout if they place. Patent Betting already provides you with a way to hedge your bets, while each way Patent Bets take the hedging a step further.
How do you calculate a Patent Bet?
To calculate a Patent Bet, you just need to combine the odds from all seven of the legs within the bet. To recap, that means your three singles, three doubles and treble.Single bet = Horse odds
Double bet = Horse 1 odds x Horse 2 odds
Treble bet = Horse 1 odds x Horse 2 odds x Horse 3 odds
So, how does a Patent Bet work in terms of calculating how much your return and profit will be? It’s just a case of adding in the odds and the stake you’re placing on each leg. To keep things simple, let’s imagine all three runners you’re picking in your three horse race have odds of 2/1, and you’re staking £10 on each leg.
Single bet – £10 x 2/1 = Total return £30 / Total profit £20
Double bet – £10 x (2/1 + 1) x (2/1 + 1) = Total return £90 / Total profit £80
Treble bet – £10 x (2/1 + 1) x (2/1 + 1) x (2/1 + 1) = Total return £270 / Total profit £260
To get the total return of a Patent Bet, just add the payout from the three singles, three doubles and treble. In this instance that comes to £630. Taking away your total stake of £70, that leaves you with a profit of £560.
Working out a Patent Bet is relatively easy with basic numbers, but can quickly get confusing as the odds change. Using a Patent Bet calculator is a quick and easy way of avoiding all the mental arithmetic, instantly providing you with the returns on the bets you’re looking to make.
