The Patent Bet Explained
Whether you’re betting on horse races or matches of the Premier League, you have a lot more options than a single one way bet. When bettors first start in the world of sports betting, they often stick to simpler wagers. Many believe that singles are safer than some of the alternatives.
While singles definitely have lower stakes, combination bets provide you with a greater chance of earning some of your money back. One of the easiest and most approachable combination bets is the Patent bet.
Patent bets are a great introduction to combination bets. They’re not as complicated as most people think and they have much lower stakes than something like the Goliath Flag or Super Yankee bet.
In this guide, we’re going to show you how these bets work. We’ll break down what these wagers entail so that you can decide if testing your luck is worth the risk.
What is a Patent Bet?
As we mentioned earlier, Patent bets are a type of combination bet. The best way to look at combination bets is to think of them as wagering packages.
Basically, they are several wagers packaged into one over-arching bet. They allow you to make multiple bets on the same selections and events. The potential winnings you have will depend on the outcome of the sporting event you choose.
The cool thing about combination bets is that you’re able to prepare for more than one potential outcome. We’ll get into that a bit later.
For now, all you need to know is that the Patent bet is comprised of seven total bets involving three separate selections. Those selections have to be chosen out of multiple events. For example, you might choose individual horses out of three different horse races or the winner of three separate World Cup matches.
How Does a Patent Bet Work?
The interesting thing about Patent bets is that they provide full coverage. Not all combination bets are considered full-cover bets, so the Patent bet is an excellent choice for newer punters. To be considered a full-cover bet, the wager has to encompass all possible wagers based on the number of selections and the number of bets you have.
To truly understand how a Patent bet works, you need to understand how its various constituents operate. The Patent bet can be broken down as follows:
3 single bets
3 double bets
1 treble bet
Even if you’ve never made an official sportsbook wager before, you’ve likely made a single bet at some point. This is the typical wager that most people think about when they refer to betting. It’s the standard win or lose bet.
To win single, your selection has to come out victorious. It’s as simple as that. The Patent bet includes three singles in total. For each individual single bet, you’re only wagering on one of your three selections. But, the cool thing about the Patent bet is that you can easily plan your bet slip strategically to increase your odds of a return. More on that later.
Doubles are a bit trickier to win than singles. However, they’re still quite approachable. With a double, you’re wagering on two of your selections. Doubles are a type of accumulator. This means that both of those selections have to come out on top for you to win the bet.
So, let’s say that you have chosen horse A to win the first race and Horse C to win the second. Both of those horses must win to see a return. If horse A wins but horse B fails to knab the top spot, you’re out of luck. The bet is also considered a loss when there’s a dead heat. The Patent bet includes three doubles in total.
The final bet included in the Patent bet is the treble. There’s only one treble. It includes all three of your selections. Like the double, all three of those choices need to win to earn a return.
This bet is the hardest of the bunch to win. But, it also provides a greater potential payout.
How to Calculate Your Winnings From a Patent Bet?
Combination bets like the Patent bet can be more challenging to calculate. It’s one of the reasons why many new punters avoid them. There are many factors that you have to consider as you’re doing the math. This includes the odds format, the unit stakes, the price of your selections, and more.
Patent bets are far easier to calculate than high-stakes combination bets. But, it’s still not easy to do on pen and paper. Luckily, you have bet calculators to fall back on.
A Patent bet calculator provides you with all the information you need in an instant. It’s a great tool to have in your arsenal as a bettor. Before you even submit your bet slip, you can use the calculator to figure out potential earnings based on the parameters of the wager. Then, you can adjust things on the fly as things change. They’re easy-to-use tools that can help you stay aware and prepared as a punter.
Betting Tips: Potential Results Prediction
The best part of a Patent bet is that you’re able to earn a return even if some of your selections lose. As long as one of your selections wins the event, you can get some of your money back. This is the primary difference between a standard single bet and a combination bet.
Because you’re bundling seven bets into one, you’re covering more potential eventualities. Of course, there are no guarantees when you place a sports bet. However, a combination bet like the Patent can increase your odds of winning something.
That’s one important thing to remember. You have a better chance of winning some type of return, but that doesn’t necessarily mean that you’re going to profit from the wager. The potential returns you’ll get depend entirely on the odds, price, and the number of selection wins.
Typically, you’re going to need at least two wins to get into the green. With a single win, you may only get some of your initial investment back. But don’t let that turn you off! It’s much better to walk away with some earnings than to lose everything.
Let’s take a look at the horse racing example we mentioned earlier. You’ve chosen horse A, horse C, and horse E to win. They are your selections for three different events respectively.
Now, say that two of your horses come out on top. You might not have won that high-paying treble. But, you could have won the other bet types. If you filled out your bet slip correctly and played strategically, you’ve likely won a double and single.
Unlike other bets, there’s the potential to win even if you don’t make all the right choices. That reason alone is why so many people enjoy making combination bets like the Patent bet.
Why Make a Patent Bet?
The biggest benefit you’ll experience is less risk. Again, it’s not about putting your money on a “sure thing.” Those don’t exist in sports betting! However, it is about increasing your odds of experiencing some type of win.
It could be the difference between walking out of the event with no money and walking out with some cash.
It’s worth noting that Patent bets do cost a bit more than your average one-way bet. If you’re taking a unit stake of £1, your total stake will be £7. Remember, the Patent bet includes seven separate bets bundled into one.
The good news is that a slightly bigger total stake could result in a hefty profit if you’re lucky! With that £1 stake with horses priced at 4.00, you’ll be making more than £100 in pure profit if all three selections win.
There are ways to increase your chances of winning even further. A variant of the Patent bet exists. It transforms all of those individual bets into each-way bets. That means your selections only need to get into one of the top spots to earn a return. The exact place terms vary based on the bookmaker and event. But usually, your horse would need to get either first, second, or third place to win. Turning your Patent bet into an each-way Patent bet would cost you more as well because the number of bets doubles to 14.
What’s the Difference Between a Patent Bet and Other Types of Combination Bets?
Patent bets aren’t the only type of bet you can try out. Combination bets can get more involved with the more selections you add. For example, the Goliath Flag bet covers eight different selections and includes 303 separate bets!
Generally, the primary difference between a Patent bet and other combination bets is going to come down to the number of selections and bets it includes. Obviously, more selections and bets also lead to potentially higher total profits.
One type of bet that many people get confused with the Patent bet is the Trixie. A Trixie bet also includes three selections. It has the three doubles and a treble bet, too. But, the difference between a Trixie and a Patent is the singles! Trixie bets don’t have the three singles, bringing the total number of bets down to four. It’s a bit harder to see a profit with a Trixie bet.
What Sports Work Well with Patent Bets?
You can place a Patent bet on most sporting events. You can try out horse racing, greyhound racing, football, tennis, bowling, or even golf! The only caveat is that the event has to include more than one match.
A single football match, for example, wouldn’t apply. You need to make three selections and single matches only have two. That’s why these bets are typically used for large-scale events, such as the Premier League or World Cup. You can bet on multiple matches at once.
Best Sites to Place a Patent Bet On
Online bookies have changed the sports betting world forever. Instead of having to go to your local bookmaker to place a Patent bet, you can do so without even leaving your house. Most sites will accept a Patent bet. It’s one of the simpler combination bets after all.
Here are some sites worth checking out:
We recommend seeing what these bookies have to offer new customers. You can often get free bets and other cool incentives when you make a new account. Thanks to the relatively low total stake requirements of the Patent bet, you can often use the free betting money to give it a shot with no real risk. Though, you will need to make a real qualifying bet before you claim those perks.
There’s a lot to like about the Patent bet. These seemingly complex wagers are far easier to place than what most novice punters think. They’re actually a safer option when you break down the odds. Plus, they offer bigger total returns if you’re lucky! Give the Patent bet a try on a sport that you understand. With some careful planning and a good strategy, you may walk away with a nice reward!