Welcome, fellow punters! You’ve summoned the Genie, here to guide you through the intricate and thrilling world of bet types in this bet types explained article. Whether you’re betting on football, racing, or other sports, understanding the various bet types is essential. I’m here to break down everything—from the classic single bet to the more complex, exotic wagers seen in Australian horse racing. Prepare for a comprehensive journey through betting possibilities, where fortune favours the brave!
Bet types explained – the fundamental bets
Let’s start with the basics. These are your foundation—perfect for punters who want simplicity.
1. Single Bet:
The simplest bet of all. You place your money on one outcome, and if it happens, you win!
Example: You bet on Liverpool to win their next match. If they do, the reward is yours!
Genie’s tip: Read promotion terms and conditions carefully for any promotion. The typical case that drives punter frustration for single bets is that they expect to be paid out for a promo the bookie is running on a win-draw-win market, but didn’t realise that the payout was only for the result at the end of 90 minutes, not if the match went to extra time or penalties.
2. Double and Treble:
A Double is a bet on two outcomes, and both must win for you to profit. A Treble is the same, but with three outcomes.
Example: Bet on two or three football teams to win. If all your selections succeed, you collect!
3. Accumulator (Acca):
This is the more daring cousin of the Double and Treble. An Acca (as our English punters call it) involves betting on four or more outcomes. If all win, you’re looking at a huge payout—but if one fails, the whole bet collapses.
Example: You place bets on four horses to win their races. If all four win, you’ll be swimming in riches. If even one horse loses, the magic fades.
Genie’s word of warning: Bookies love it when you place an acca bet as their expected margin is significantly higher. Remember the mantra that the bookmaker doesn’t beat the punter. He just gives you the opportunity to beat yourself!
Combinational Bets
These bets allow you to combine multiple selections and still profit even if some selections don’t win.
4. Trixie:
A Trixie involves four bets on three selections—three Doubles and one Treble. Two wins secure a return, and all three wins can multiply your fortune.
Example: Choose three horses, and if two win, you still earn. But if all three win, the rewards are magnificent!
5. Yankee:
A Yankee is for four selections, placing a total of 11 bets—six Doubles, four Trebles, and one Four-Fold. It covers all the possible combinations, and you only need two wins to start seeing a return.
Example: Bet on four teams, and if two or more win, you’ll profit. If all four win, expect to be handsomely rewarded!
6. Super Yankee (Canadian):
With five selections, this bet contains 26 individual bets (10 Doubles, 10 Trebles, five Four-Folds, and one Five-Fold). More risk, but bigger rewards!
Example: Pick five horses or teams. Even with two wins, you can collect, but five winners will unlock a fortune.
7. Heinz:
For the bold punter, the Heinz involves six selections and a staggering 57 bets. It covers every possible combination of Doubles, Trebles, Four-Folds, Five-Folds, and Six-Folds.
Example: Choose six horses or teams. Even if only two win, you could profit. All six winning? Prepare for riches beyond your wildest dreams.
8. Lucky 15:
The Lucky 15 offers 15 bets on four selections—four Singles, six Doubles, four Trebles, and one Four-Fold. Even if just one of your picks wins, you’ll receive a return.
Example: Choose four horses. One win still gets you paid, but four wins bring a major payout!
Bet types explained – Racing bets and bet types popular in Australia
In the world of horse racing, particularly in Australia, you have a range of specialised bet types that offer more excitement and potential rewards (and higher margin for the bookie, of course). Remember to look out for bookies that offer best price guarantees too, so you don’t miss out on higher payouts when your nag romps home!
9. Win Bet:
The classic, straightforward punt. You pick a horse to win the race.
Example: Bet on Horse A to win. If it crosses the line first, you’re a winner.
10. Place Bet:
A safer option than a Win Bet. You bet on your horse to finish in one of the top positions (typically 1st, 2nd, or 3rd, depending on the race).
Example: If your horse finishes second or third, you still win!
Genie’s tip: On big race meets, look out for promotions where bookies are offering a greater number of places than others. For example, instead of paying out a place on 1st – 3rd, they might even pay out for 4th or 5th. That can be a major difference to your wallet.
Exotic bet types explained
These are the bets for punters who want to combine excitement with strategy and go beyond the basics. But, bear in mind that bookies will be happy to see you punt on exotics, as they expect to fill their coffers!
11. Quinella:
Pick two horses to finish first and second in any order. A Quinella is popular because it’s easier than predicting the exact order, but the payouts can still be solid.
Example: Horses A and B finish 1st and 2nd, in any order. Congratulations, you win!
12. Exacta:
For those who seek greater rewards, an Exacta requires you to pick the first two horses in exact finishing order.
Example: Horse A finishes 1st and Horse B finishes 2nd, just as you predicted. Magic happens!
13. Trifecta:
A Trifecta bet requires you to predict the top three horses in the exact order. High risk, but high reward!
Example: You pick Horses A, B, and C to finish 1st, 2nd, and 3rd, in that order. If they do, prepare for a generous payout.
14. Box Trifecta:
A more flexible version of the Trifecta. You choose three or more horses to finish in the top three, but they can finish in any order.
Example: Horses A, B, and C finish in the top three spots, in any order. Your wish for a payout is granted!
15. First Four:
To win this bet, you must predict the first four horses to cross the finish line, in the exact order.
Example: You place your money on Horses A, B, C, and D to finish 1st through 4th. If it happens exactly, you hit the jackpot!
16. Box First Four:
A variation of the First Four, but with more flexibility. Your chosen horses can finish in any order within the top four.
Example: Horses A, B, C, and D finish in the top four spots, in any order, and you still win.
17. Quadrella (Quaddie):
The Quadrella, or Quaddie, asks you to pick the winners of four consecutive races. The odds are tough, but if you succeed, the payout can be immense.
Example: Choose the winners of Races 5, 6, 7, and 8. If all four win, you’re in for a handsome reward.
18. Daily Double:
In the Daily Double, you must select the winners of two specific races. A bit of tradition mixed with excitement.
Example: Pick the winners of Race 4 and Race 6. If both selections win, you take home the prize.
19. Running Double:
Similar to the Daily Double but more flexible. You choose the winners of two consecutive races—any back-to-back races on the card.
Example: Pick the winners of Race 2 and Race 3. If both your picks win, you’re victorious.
20. Each-Way Bets:
An Each-Way Bet is essentially two bets: one on your selection to win, and another on it to place. It offers a safety net if your pick doesn’t win but still finishes near the top.
Example: Your horse comes second or third? You still collect part of the winnings!
And there you have it! The Genie has granted you the full spectrum of bet types, from the simplest of Single Bets to the more complex Quadrella. Whether you’re betting on the horses in Australia or placing wagers on football, you’re now equipped with the knowledge to choose wisely and aim for those riches!
May your bets be fortunate, and may your rewards be plentiful!