Explaining the different types of bets

 Do you know your Yankee from your Trixie? How about the difference between a single bet and an each way bet? There are a number of different types of bets you can place when gambling and a good understanding of all of them is key in order to be successful.

Single
A single bet is fairly self-explanatory. It is one bet placed on a single event and the selection has to be successful in order to win the money.

Each Way
An each way bet is most commonly considered in the context of betting on horse racing. You can either bet on a horse to win or to be placed. The term placed refers to a horse finishing in a certain number of places after 1ste.g. if it comes in the top 3. An even amount of money is placed on the win and place part e.g. a £1 each way bet will have £1 on the win and £1 on the place. If your selection wins both the win and the place parts win however if it simply places in the given number of place positions, a fraction of the winning odds are paid out depending on where your selection finishes.

Accumulators
An accumulator is a bet placed which has a number of selections within it and all the selections must win for the bet to win. Online betting companies will often give a ‘cash out’ option for accumulators.

Doubles
Again self-explanatory, a double is a bet consisting of two selections and a triple is a bet consisting of three selections..

Trixie
A trixie is made up of 4 bets which involves 3 selections in different events and consists of 3 doubles and a treble. At least 2 selections have to be successful in order to get a return..

Yankee
A yankee is a much larger bet than a trixie and consists of 11 bets. These 11 bets are made up of 6 doubles, 4 trebles and a fourfold accumulator. A minimum of 2 selections must be successful to get a return.

Patent
A patent includes three selections consisting of 7 bets which are made up of 3 singles, 3 doubles and a treble. The patent is similar to a trixie, accept 3 single bets are added to each selection. One successful selection can win a return, however a losing selection can significantly impact how much you can win.

For more on the different types of bet that you can place visit www.casinopedia.org