What is a patent bet? Meaning & calculator31st March 2018 / lee
One of the best ways to try and earn yourself some bigger rewards from short odds-on priced selections is by building multiple and full cover bets. These allow you to reach just a little bigger and the Patent Bet is a perfect example of that. What is a Patent bet? Well it is where you can take three selections and from those selections, all possible multiple combinations will be built, so you are actually betting on seven separate bets from your three selections.
That is a far better option for punters than picking seven different selections and hoping that all come up. That’s a tough thing to do.
But going for just three winning selections, that’s not a bad punt at all. The dialled back version of a Patent bet is called a Trixie which is also built from three selections. So if you head over to bet365 and want to make one of these full cover bets, what’s the difference between the two? Well, it is one very important one. The Patent will contain the single selections in the water whereas there are no singles in the Trixie. So with your three selections for a Patent bet, the seven wagers are:
How does a patent bet work?
Well in order to gain some kind of return from a Patent, you obviously need at least one win. That will guarantee that you get a single winner, unlike in the Trixie version where you would need a minimum of two selections to win to gain some kind of return. So if you had one single winner from the Patent bet, what kind of dent would that make in your initial stake? Here is the rub with the Patent bet as it is for all types of full coverage bet. From your three selections, you are creating seven bets which means that you will need a separate stake to go towards each of those seven bets.
So if you are wondering what does Patent mean in betting in terms of stake outlay, then you have 7x your stake. So basically if you wanted a £1 Patent then your actual stake will be £7. Here is where you can use a Patent calculator to try and figure out the overall risk and reward of your wager and what you are doing with it. Going back to the above example, if just one selection of your bet won, that is just one of the seven bets coming good. Look at the shortest-priced selection in your Patent. Will that be a good enough of a return for you when you stack it up against the stake? Because Patents are generally built with favourites you are generally building selections that are odds-on.
It would take a bold bet to claim three selections on the other side of even money because nailing three odds-against selections would, of course, reward massively, but the probability of it is lower. But the beauty of the Patent is that perhaps you can balance the best of two worlds, with two solid odds-on selections backed up by one slighter longer priced one to really bring in the value. This is all a matter of risk and reward as it is worth any kind of bet that you place so again, use a Patent calculator to figure things out.
But just as an example so that you can see the value of a Patent. Say you have three selection, one at 4/5, one at 4/7 and one at 11/10. A £1 stake as just singles on each of them would return profits of 0.80, 0.57 and 1.10 respectively. So from your initial outlay of £3, you would have accumulated £2.47 back as profit. But if you threw them all into a Patent, because of those multiples combinations, your profit from a £7 stake would be £14.32 which is considerably better and that is because the odds accumulate throughout the bet. So for just over double the steak you would have doubled your profit seven times.
So that is a Patent bet explained. From three selections, you get seven bets in total to expand your coverage and build more profit. Generally, these are solid wagers to play from football betting selections of strong teams at home which aren’t offering a lot of value on their own in a match outright. So for just a little extra stake, you can have a shot at a stronger profit. Just head to the betting slip of any books like Bet365 or William Hill after adding your selections and you will see the option to build the multiple. Just remember that you will be betting seven times whatever stake you happen to enter.
Patent Bet Calculator
The tip is based on the personal opinion of the author. No success is guaranteed. Please gamble responsibly. 18+
* All mentioned odds were valid at the time of writing. Betting odds are subject to fluctuations. Please check the current odds with the respective bookmaker!
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