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What is a Patent Bet? How does a Patent Bet work?
A concise guide for punters unsure of how Patent insurance betting works and the best approach for placing the bets using this multiple betting style
Published on 21 June 2019
Updated on 21 June 2019
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What is a patent bet? It is one type of multiple bet and it is one of the popular ways to bet today. It is quite a popular bet in horse racing and football, but it can also be used within a variety of other sports and betting situations.
A patent bet consists of 7 bets that are placed across 3 different selections. This 3-selection bet consists of the following bets:
• 3 single bets
• 3 double bets
• 1 treble bet
Patent bets have become popular within the sports betting community, due to improving the chances of betting returns.
You can patent betting to cover potential outcomes. That means you will be assured to get a return if you only choose one correct selection, which is the reason why this type of bet is also classified as ‘betting insurance’.
If you’re new to multiple-betting then the prospect of ‘betting insurance’ might sound strange, but I’ll provide more details on the insurance nature, if you keep reading…
Three bets in one...
In a patent bet you’re required to make 3 different types of bet rolled up into one. It will include a treble bet, single bets, and double bets. Let’s go over each one of these bets.
• Single Bet: a single bet that you will place in only one selection (also known as a market). This is the most straightforward bet that you will make since you’re just making one bet and you’re betting on a single outcome.
You will immediately know if you win or not since there will only be one match (it could be a race or a sports event between two teams or two players). You’ll just predict who will win and if you are right you get paid.
Unlike other bets, you won’t have to wait for other matches since the outcome will not depend on multiple events. You get your cash right away after making a correct wager. Or you will immediately know if your bet lost, as the bookmaker or betting exchange will not return any funds!
This is probably the most familiar bet that you know if you’re a sports betting beginner and I must reiterate that single bets have a much higher winning percentage compared to accumulator bets. So, keep that in mind before you go rushing off and only placing patent bets.
Although, the success rate for single betting is greater than accas, the potential returns are generally lower, so you must balance the risk versus the reward before placing a wager.
For example, you bet £200 that football Team A will score 3 goals and the odds are 1.90. If your bet wins you will get a total of £380 given such odds.
• Double Beta double bet is essentially two single bets combined. You are making two selections with this bet. You are doubling your earnings potential, but at the same time you are also increasing your risk, as you require 2 selections to come in, before you will receive any returns.
• Treble Bet: a treble bet is also another kind multiple bet just like a double bet. You are making three selections on this type of bet instead of just two. Again, this bet offers bigger returns but at the same time it also triples your risk compared to a single bet.
How a Patent Bet works
As it was explained earlier a patent bet combines all 3 types of bets; single bets, double bets and a treble bet, as they were described above.
You will perform the following steps:
1. 3 Single Bets: In a patent bet, you will make 3 single bets. That means you will make 1 single bet on 3 separate events. So, let’s say there are 3 events or selections that we will call events A, B, and C (e.g. three different horse races). You will make a single bet for events A, B, and C. This will be your bet 1 to 3.
2. 3 Double Bets: You will also make 3 double bets. Following the same example that means you will make a combination bet for 2 events. You can structure your double bets as follows, they will be bets 4 to 6:
• Bet #4: Event A and Event B
• Bet #5: Event B and Event C
• Bet #6: Event A and Event C
3. Treble Bet: Your bet #7 is a treble bet which means you will bet that you will have winnings in all three events A, B, and C.
The logic behind the Patent Bet
William Hill once described the Patent Bet as a multiple as well as a full coverage bet. The most profitable bet is the treble bet. The treble bet within the patent is the one bet, which provides the most returns.
However, it should be obvious that this is the one bet in all 7 bets, which has the lowest probability of providing a positive outcome. That means the other 6 bets that you have made serve as a cover just in case your treble bet doesn’t win.
It ensures that you will win something at the very least. Let’s say you made £1 bets in a patent bet. That means you will have to make a total accumulated bet of £7.
In some cases, even if your treble bet lost and you won in just one bet out of all 7 then you can break even. You can potentially get back your original £7.
However, you shouldn’t expect to always break even when only 1 bet wins…
There will be times when you will win a few bets and there will be times when you will lose all 7 in the combo bet that you made. However, you can always use the patent bet calculator to do the calculations for you, so you can figure out how big your winnings will be if your treble bet wins.
In this case you can possibly win £41 with 7 x £1 bets. That means your total earnings has suddenly increased to £34.
Now, even if your treble bet were to lose, you can still make some decent money if any combination of the singles and double bets you made wins. Remember that in a patent bet you are betting on 3 selections (3 teams, 3 horse or 3 players depending on the sport).
Fundamentally, you are increasing your chances of winning with a patent bet. Although, there are plenty of pros and cons. If you have confidence in your selections and you fully understand the risks, the patent bet can be a solid addition to any betting portfolio.
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