To work out a patent bet, follow these easy steps. A patent bet involves three selections and consists of seven separate bets: three singles, three doubles, and one treble. Here’s how you can calculate a patent bet:
- Choose three events or outcomes to bet on.
- Decide the amount of money you want to bet on your patent bet.
- A patent bet consists of seven separate bets – three singles, three doubles, and one treble. In total, there are seven bets.
- Divide your total stake by the number of bets to calculate the unit stake for each bet.
- Consider the odds for each selection to calculate the potential winnings for each type of bet.
- Singles: Multiply the stake for each single by the corresponding odds. If one of your selections wins, you receive the winnings from that particular bet.
- Doubles: Multiply the stake for each double by the combined odds of the two selections in that double. If both selections win, you receive the winnings from that particular bet.
- Treble: Multiply the stake for the treble by the combined odds of all three selections. If all three selections win, you receive the winnings from the treble.
- Add up the winnings from all the different types of bets to determine the total potential winnings.
It’s important to note that these calculations assume all your selections win. If any selection loses, you won’t receive winnings for the corresponding bet.
For example, let’s consider three horse races with the following selections and odds:
Selection 1: Horse A with odds of 2.5
Selection 2: Horse B with odds of 3.0
Selection 3: Horse C with odds of 4.5
Suppose you place a total stake of $20 on your patent bet.
Here’s how to calculate the potential winnings:
- Determine the total number of bets: A patent bet has seven separate bets – three singles, three doubles, and one treble.
- Calculate the unit stake: Divide your total stake by the number of bets. In this case, $20 divided by 7 gives a unit stake of approximately $2.86 (rounded to the nearest cent).
- Calculate the potential winnings for each type of bet:
- Singles:
- Selection 1: $2.86 (unit stake) x 2.5 (odds) = $7.15
- Selection 2: $2.86 (unit stake) x 3.0 (odds) = $8.58
- Selection 3: $2.86 (unit stake) x 4.5 (odds) = $12.87
- Doubles:
- Double 1 (Selections 1 and 2): $2.86 (unit stake) x (2.5 x 3.0) = $21.51
- Double 2 (Selections 1 and 3): $2.86 (unit stake) x (2.5 x 4.5) = $32.35
- Double 3 (Selections 2 and 3): $2.86 (unit stake) x (3.0 x 4.5) = $38.67
- Treble (Selections 1, 2, and 3): $2.86 (unit stake) x (2.5 x 3.0 x 4.5) = $96.94
- Singles:
- Calculate the total potential winnings:Total potential winnings = (Total winnings from singles) + (Total winnings from doubles) + (Winnings from treble)
Total potential winnings = ($7.15 + $8.58 + $12.87) + ($21.51 + $32.35 + $38.67) + ($96.94) Total potential winnings = $218
Check out other patent bet examples.
Keep in mind that different bookmakers may have slight variations in their rules and payout calculations for patent bets. Always check with your bookmaker or refer to their terms and conditions for the exact calculation method they use.
By following these steps, you can efficiently work out a patent bet and understand the potential winnings based on your selections and stake.