Types of Bets

A list of all common types of bets and wagers you can find on online bookmakers, as well as land-based betting shops.

When you are first introduced to betting it is likely that you would have been introduced to traditional fixed odds. However, in today’s market, there are so many potential different bets available and this guide will introduce some of the most popular and exciting bets you can use on the market.

Single Bets

A single bet is a type of wager where you back a specific outcome to occur in a sporting event. This bet will be with odds that have been determined by the bookmaker. Singles are otherwise known as fixed odds.

The below common fixed-odds betting markets are, in fact, single bets (i.e., singles):

  • 1XN
  • Over/Under
  • Handicapping
  • Winner of a race (political, horse, greyhound, formula 1, etc…)

The above-mentioned betting markets can also be available in an exchange, each as a lay and back bet.

Exchange Bets

Exchange bets are types of wagers where punters will bet with odds that have been set by other users of a betting exchange platform.

There are two options on an exchange site, you can either place a back bet or a lay bet. In other words, you can bet for or against the outcome of a sporting event to occur.

Back Bet

A back bet is a type of wager available on betting exchanges that allows you to place money on the outcome of a sporting event.

On an exchange site, you have the choice to bet with odds that have already been set by another user or you can decide to set your own back odds and wait to see if they will be matched.

For example, if you were to place a back bet on Horse A, you will be placing a bet for horse A to win the race.

Lay Bet

A lay bet is a type of wager available on betting exchanges that allows you to place money against a sporting outcome happening.

If you were to place a lay bet against Team A, any outcome that differs from Team A winning will result in a winning bet. Another example, if you were to place a lay bet on Horse A to win the race your bet will only be successful if Horse A doesn’t win the race.

Pool & Parimutuel Bets

Pool and parimutuel bets are types of wagers where all bets of a particular type are placed in a pool. After the market has closed and the outcome of the race has been determined the money collected will be equally dispersed among everyone with winning tickets.

Win Bet

A win bet is a type of wager where you back a horse to win outright. The money collected in the pool will be equally dispersed among people with winning tickets.

Place Bet

A place bet is a type of wager where you are backing horses to finish in the top few positions in a race. If the horse backed finishes in the top 2 or 3 positions it will result in a winning bet.

Each Way Bet

An each-way bet is a type of wager where you place two bets, a win bet and a place bet. Therefore it is possible to win both bets, one bet or none of your bets.

Show Bet

A show bet is a type of wager where you back a horse to finish in the top 3 positions.

It is not important what position in the top three the horse backed finishes as the payout will be the same.

Exacta Bet

An exacta bet is a type of wager where you back two horses two finish in the top two positions in that exact order.

There are variations of exacta bets where you can bet on the top two horses in the race but they do not have to finish in exact order.

Trifecta Bet

A trifecta bet is a type of wager where you back three horses to finish in the top three positions in that exact order.

There are variations of trifecta bets where you can bet on the top three positions in a horse race but the horses do not have to finish in exact order.

Superfecta Bet

A superfecta bet is a type of wager where you back four horses to finish in the top 4 positions in a race in that exact order.

There are variations of superfecta bets where you can bet on the top 4 positions in a horse race but they do not have to finish in that exact order.

Multiples

A multiple bet is a type of wager that consists of several selections in one bet. There are a few variations of these types of multi bets.

Double Bet

A double bet is a type of wager where you can bet on two different sports outcomes to occur. In order to win the bet, both selections would have to win.

Treble Bet

A treble bet is a type of wager where you can bet on three different sports outcomes to occur. In order to win the bet, all three selections would have to win.

Accumulator Bet

An accumulator bet (acca) is a type of wager where you can select multiple selections. For example, you can back 8 sporting outcomes to occur and if they are all successful it will result in a winning bet.

Parlay Bets

A parlay bet is a type of wager that links together two or more types of wagers together. To win a parlay bet all of the selections selected will have to win. Parlay betting is a science in itself and loved for its higher-risk and higher-reward profile.

Full Cover Bets

Full cover bets are a type of wagers that consist of multiple bets that cover the number of selections.

Trixie Bet

A Trixie bet is a type of wager that consists of four separate bets:

  • 3 doubles, and
  • 1 treble.

In order to return any money from this bet, at least two selections will have to win.

Yankee Bet

A Yankee bet is a type of wager that consists of 11 separate bets:

  • 6 doubles,
  • 4 trebles, and
  • 1 fourfold accumulator.

In order to return any money from this bet, at least two selections will have to win.

Super Yankee Bet (Canadian)

A Super Yankee bet is a type of wager that consists of 26 separate bets:

  • 10 doubles,
  • 10 trebles,
  • 5 fourfolds, and
  • 1 fivefold accumulator.

In order to return any money from this bet, at least two selections will have to win.

Heinz Bet

A Heinz bet is a type of wager that consists of 57 separate bets:

  • 15 doubles,
  • 20 trebles,
  • 15 four-folds,
  • 6 five-folds, and
  • 1 sixfold accumulator.

In order to return any money from this bet, at least two selections will have to win.

Super Heinz Bet

A Super Heinz bet is a type of wager that consists of 120 separate bets:

  • 21 doubles,
  • 35 trebles,
  • 35 fourfolds,
  • 21 five-folds,
  • 7 six-folds, and
  • 1 seven-fold accumulator.

In order to return any money from this bet, at least two selections will have to win.

Goliath Bet

A Goliath bet is a type of wager that consists of 247 separate bets:

  • 28 doubles,
  • 56 trebles,
  • 70 fourfolds,
  • 56 five-folds,
  • 28 six-folds,
  • 8 seven-folds, and
  • 1 eightfold accumulator.

In order to return any money from this bet, at least two selections will have to win.

Full Cover With Singles

Full cover bets are a type of bet where you can cover the entire field with multiple bets. These bets also include single bets.

Patent

A patent is a type of bet that must be made on three selections that consist of 7 separate bets:

  • 3 singles,
  • 3 doubles, and
  • 1 treble.

In order to see some return, only one of your selections will need to win.

Lucky 15

A lucky 15 is a type of bet that must be made on four selections and consists of 15 separate bets:

  • 4 singles,
  • 6 doubles,
  • 4 trebles, and
  • 1 fourfold accumulator.

In order to see some return, only one of your selections will need to win.

Lucky 31

A lucky 31 wager is a type of bet that must be made on 5 selections and consists of 31 separate bets:

  • 5 singles,
  • 10 doubles,
  • 10 trebles,
  • 5 fourfolds, and
  • 1 fivefold accumulator.

In order to see some return, only one of your selections will need to win.

Lucky 63

A lucky 63 bet is a type of wager that must be placed on 6 selections and consists of 63 separate bets:

  • 6 singles,
  • 15 doubles,
  • 20 trebles,
  • 15 fourfolds,
  • 6 five-folds, and
  • 1 sixfold accumulator.

In order to see some return, only one of your selections will need to win.

Alphabet Bet

An alphabet bet is a type of wager that consists of 6 different selections and consists of 26 different bets:

  • Selections 1, 2, and 3 form a patent bet.
  • Selections 4, 5, and 6 form a different patent bet.
  • Selections 2-5 form a Yankee bet.
  • All of the selections form a sixfold accumulator bet.

Any to Come Bets

Any to come bets are a type of wagers that have conditions in place. If parts of your bet return a sufficient amount of money this money can be added to another selection.

Up-And-Down Bet

An Up-and-down bet is a type of wager based on two selections and consists of 2 different bets.

If one selection wins then the original stake is placed on the second selection. If both selections win each original stake is placed as a single on the other selection.

Round Robin Bet

A round-robin bet is a type of wager that consists of 10 separate bets:

  • 3 doubles,
  • 1 treble, and
  • 3 up-and-down bets.

In order to see some return, only one of your selections will need to win.

Flag Bet

A flag bet is a type of wager that is made up of four selections and consists of 23 separate bets:

  • 6 doubles,
  • 4 trebles,
  • 1 fourfold, and
  • 6 up-and-down bets.

In order to see some return, only one of your selections will need to win.

Super Flag Bet

A super flag bet is a wager that is made up of five selections and consists of 46 separate bets:

  • 10 doubles,
  • 10 trebles,
  • 5 fourfolds,
  • 1 fivefold, and
  • 10 up-and-down bets.

In order to see some return, only one of your selections will need to win.

Rounder Bet

A rounder bet is a type of wager that is made up of three selections and consists of 6 bets: 3 singles and 3 any to come doubles to the original singles stakes.

Roundabout Bet

A roundabout bet is a type of wager that is similar to the rounder bet above, the only difference being that the ATC double is twice the amount staked.

Union Jack Bets

Union jack bets are a type of wagers that consist of 8 to 80 bets depending on the type of bet.

Union Jack Trebles Bet

A Union Jack treble bet is a type of wager that consists of 8 treble bets placed on 9 selections.

Union Jack Trixie Bet

A Union Jack trixie bet is a type of wager the consists of 32 bets: 24 doubles and 8 trebles.

Union Jack Patent Bet

A Union jack patent bet is a type of wager made up of 9 selections across different events. This bet consists of 8 trixies and 24 single bets.

The trebles are arranged in 3 rows of 3 selections and bets are formed by combining the selections on each of the horizontal, vertical, and diagonal lines.

Union Jack Round Robin Bet

A Union Jack round robin bet is a type of wager that consists of 80 bets:

  • 24 doubles,
  • 8 trebles, and
  • 24 up and down bets.

Forecasting

Forecasting bets are a type of wagers that require the precise forecasting of the first two or three finishers in a race.

Straight Forecast Bet

A straight forecast bet is a type of wager where you will need to predict which horse will finish in first and which horse will finish in second.

Reverse Forecast Bet

A reverse forecast bet is a type of wager where you have to predict which horses will finish in the top few positions but these horses can finish in any order.

Combination Forecast Bet

A combination forecast bet is a type of wager where you can bet on three or more horses to finish in the top two positions. The more horses selected the higher money you will stake.

Tricast Bet

A tricast bet is a type of bet where you have to predict the top 3 positions in a horse race in that exact order.

Combination Tricast Bet

A combination tricast bet is a type of wager where you can back three or more horses to finish in the top three positions in a race. The more horses selected the higher money you will stake.

Tote Bets

Tote bets are a type of wagers where punters bet into a tote pool instead of betting with traditional fixed odds. “Tote” is short for Totalizer, a device used to show the total amount of wagers placed in a pool at the racecourses. Tote bets are subtypes and often synonymous with parimutuel and pool bets.

The odds and payout will only be determined after all the money has been collected and then it will be dispersed equally to the amount of winning tickets.

Tote Win Bet

A tote win bet is a type of bet where you are backing a horse to win a race.

Tote Place Bet

A tote place bet is a type of wager where you are backing a horse to finish in the top few positions in a race.

Tote Exacta Bet

A tote exacta bet is a type of wager where you are backing two horses to finish in the top 2 positions in the exact order. Any result that differs from this one will result in a losing bet.

Tote Trifecta Bet

A tote trifecta bet is a type of wager where you are backing three horses to finish in the top 3 positions in exact order.

There are a few variations of this bet that include a boxed trifecta bet where you can bet on the top 3 positions in a race but this time the horses can finish in any order.

Tote Quadpot Bet

A tote quadpot bet is a type of bet that must be placed on 4 determined races, typically the 3rd to 6th races on the card. The aim of this bet is to predict where a horse will finish in each of these races.

Tote Placepot Bet

A tote placepot bet is a type of bet where you are backing a horse to finish in the first few positions. These are typically the first two positions in a race.

Tote Jackpot Bet

A tote jackpot bet is a type of wager where you have to pick the first 6 winners at a meeting nominated by The Tote. The payouts are typically very high as predicting the winners of 6 races is extremely difficult.

Tote Scoop 6 Bet

A tote scoop 6 bet is a type of wager that is typically run on Saturdays. The rules are the same as the tote jackpot bet as you will need to predict the winner of 6 races. If there is no winner the jackpot will be carried on to the following weekend.

Tote Swinger Bet

A tote swinger bet is a type of wager available for horse races that consist of 6 or more runners. On this bet, punters need to select two horses that will finish in the top 3 positions in any order. A different dividend is declared for each winner.

Miscellaneous

Miscellaneous bets are types of wagers that are a little peculiar and do not fall in any of the above-mentioned categories.

Permutation Bet

A permutation bet is a type of bet that consists of multiple selections in various different combinations. Meaning it is possible to see a return of many from numerous potential outcomes.

Ante-Post Bet

An ante-post bet is a type of bet that is made before the race market opens. Typically this means a bet placed before the day of the race. The intention of this type of bet is to get on odds that are higher than they would be before the race is about to start.

The different types of bets and wagers.
The different types of bets and wagers.

This is just a short guide on several of the most popular bets available on the markets. These bets can be researched further and it is possible to adopt many strategies while using these types of bets.