All Types of Bets and Combinations

Variety is certainly the spice of life, and when it comes to wagering, life is at its spiciest. Following is a list that describes most of the various ways of betting one is likely to encounter at bookmakers and betting exchanges, along with some helpful hints regarding their application.

Straight Bets

Single - A wager placed on one selection in one event. The selection must be successful in order to receive a return.

Win – A single bet that yields a return only if the selection comes first in an event.

Place – In U.K. racing, a single bet that yields a return only if the selection finishes within a predetermined number of positions (places) of the winner in one event, i.e. “in the money.” The number of positions in the money is a function of the number of entries and may be as few as one or as many as three. In U.S. racing, “place” is a wager on a selection to finish first or second only.

Show – In U.S. racing, a single wager on a selection to finish first, second or third.

Each-Way - A single wager combining the Win-Place bets and allowing for a return if the selection finishes in the money, regardless of running order.

Draw – A single wager that produces a return only if two selections (teams/competitors) finish a contest with equal results and no winner is declared; also know as a “Tie.”

Over/Under – A single wager on whether a result will be greater or less than a given total.

2-4 Bets Made in Combination

Daily Double – In U.S. horse racing, a wager on two selections—one in each of the first two races of the day—which yields a return only if both selections win their respective events.

Exacta – In racing, a bet on two selections in a single event that yields a return if they finish first and second in the exact order indicated; also known as a “Perfecta” or a “Straight Forecast.”

Quinella – In racing, a bet on two selections in a single event that yields a return if they finish first and second in either order; also known as a “Quiniela.”

Reverse Forecast – In racing, a combination of two Exacta bets, allowing for a return if both selections finish first and second in either order—AB or BA; also known as “Reverse Action” and applied in cases where the Quinella is not available.

Trifecta – In racing, a bet on three selections in a single event that yields a return if they finish first, second and third in the exact order indicated; also known as a Tricast or Tiercé.

Superfecta – In racing, a bet on four selections in a single event that yields a return if they finish first, second, third and fourth in the exact order indicated.

Accumulator – A bet placed on two, three, four or more selections in different events. All of the selections must be successful in order to receive a return. In the U.S., all accumulators are referred to as “parlays.”

Double – In sports wagering, a common accumulator bet placed on two selections in different events. Both selections must be successful in order to receive a return.

Treble – In sports wagering, a common accumulator bet placed on three selections in different events. All three selections must be successful in order to receive a return.

4-11 Bets Made in Combination

Full Cover Bet - Any wager made up of all possible doubles, trebles and accumulators across a specified number of selections; also referred to in the U.S. as a “Round Robin Parlay.”

Trixie – A popular type of full cover bet made up of four wagers on three selections in different events. It includes three doubles and one treble—AB, AC, BC and ABC. At least two of the selections must succeed to receive a return.

Combination Forecast – In racing, a full cover bet on three selections made up of six Exacta wagers—AB, BA, AC, CA, BC and CB—so that if any two of three selections come in first and second, a return will be received.

Pick 3, 4, 5, 6 – In racing, a pari-mutuel wager in which the bettor must correctly identify all of the winners of a certain number of consecutive races—Pick 3, Pick 4, Pick 5, or Pick 6. At some racecourses, a carryover pool exists for Pick 6 so that any un-won funds are added to the next day’s pool.

Patent – A full cover bet made up of seven wagers on three selections in different events; it is the same as the Trixie, but with single bets placed on each selection—A, B, C as well as AB, AC, BC and ABC. This wager requires only one successful selection to yield a return.

Crazy 8 Pick – In racing, a pari-mutuel wager in which the bettor must correctly identify all of the winners of each of the first eight races at a track.

Yankee – A full cover bet made up of eleven wagers on four selections in different events; It includes six doubles, four trebles and an accumulator—AB, AC, AD, BC, BD, CD, ABC, ABD, ACD, BCD and ABCD. At least two of the selections must succeed to receive a return.

12 or More Bets Made in Combination

Lucky 15 – In racing, a full cover bet consisting of four selections in different events and made up of fifteen wagers. It is identical to the Yankee (above), but with the addition of four single bets. This wager requires only one successful selection to yield a return and it pays a 10% bonus if all four selections win.

Super Yankee - Also known as a “Canadian,” a full cover bet made up of 26 wagers on five selections in different events. It includes ten doubles, ten trebles, five four-fold accumulators and one five-fold accumulator. At least two of the selections must succeed to receive a return.

Alphabet – This wager consists of 26 bets on six selections in different events. It is made up of a Patent on selections A, B and C; a second Patent on selections D, E and F; a Yankee on selections B, C, D and E; and a six-fold accumulator. This wager requires just one successful selection to yield a return.

Lucky 31 – In racing, a full cover bet consisting of five selections in different events and made up of 31 wagers. It is identical to the Super Yankee, but with the addition of five single bets. This wager requires only one successful selection to yield a return and it pays a 15% bonus if all four selections win.

Heinz – This is a wager made up of 57 bets covering six selections in different events. It consists of 15 doubles, 20 trebles, 15 four-fold accumulators, 6 five-fold accumulators and one six-fold accumulator. At least two selections must succeed in order for a return to be received.

Lucky 63 – In racing, a full cover bet consisting of six selections in different events and made up of 63 wagers. It is identical to the Heinz, but with the addition of six single bets. This wager requires only one successful selection to yield a return and it pays a 20% bonus if all four selections win.

Super Heinz – This is a wager made up of 120 bets covering seven selections in different events. It consists of 21 doubles, 35 trebles, 35 four-fold accumulators, 21 five-fold accumulators, seven six-fold accumulators and one seven-fold accumulator. At least two selections must succeed in order for a return to be received.

Goliath – This wager is made up of 247 bets and covers eight selections in different events. It consists of 28 doubles, 56 trebles, 70 four-fold accumulators, 56 five-fold accumulators, 28 six-fold accumulators, eight seven-fold accumulators and one eight-fold accumulator. At least two selections must succeed in order for a return to be received.

Other Types of Bets

Conditional Wagers – Many bookmakers allow wagers to be combined with special instructions, such as if part of the wager yields a sufficient return, then a predetermined amount is bet on one or more of the remaining selections. These bets are known as “Any to Come” or “If Cash” wagers, and they may include conditions for ties or cancellations as well as wins and “rolling wagers” by which winnings are automatically reinvested.

Pleasers & Teasers – Applied to spread betting, these options allow a bettor to buy or sell points, thereby adjusting the odds. They can offered for run lines in baseball, puck lines in ice hockey, point spreads in American football and basketball, and all sorts of over/under betting.

Betting Pools – A lottery type of betting in which participants pay a fixed amount to receive a unique selection for some outcome, such as a final score, championship team, etc. The winner collects a portion of the total amount collected; also known as an Office Pool or Sports Sweepstakes.

Published on: 20/06/2011

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