What is a patent bet?
A patent bet is a form of multiple bet that allows for a little more security that many other forms of multiple bets. This is because a patent bet is actually a number of different bets in one, meaning that if one does not secure a return, one of the others could.
A patent bet allows bettors to make three selections and is made up of seven bets in total. Three of these are single bets, three of them are double bets and the seventh and final bet is a treble. This means that even if two of the selections the bettor makes do not win, they will still make some form of a return because of the three single bets.
As such, patent bets are a good option for bettors who are looking to expand their betting options whilst still ensuring a certain amount of security. However, as three selections are being made, bettors who place a patent bet should be sure they have a clear understanding of the sport they are betting upon and the participants who are competing in it.
Bookmakers such as Paddy Power and Betfair offer patent bets on a wide range of sports. Amongst the most popular are football, greyhound racing and horse racing. They cannot be placed on one single event, but rather must be placed on several events. For example, a bettor could not place a patent bet that selected three horses in one race. Instead, they must all be running in separate races. Bettors who want to place multiple bets on the same event should consider one of the range of forecast bets that are available.
Applying the terms of a patent bet to a horse racing example, it's easy to see how the bet can work. In this scenario, the bettor selects three horses in three different events. These horses could be Runner 1, Runner 3 and Runner 5. Under a standard treble bet, the bettor would need to have all three of those horses win to secure a return. Under the conditions of a trixie bet, there's a little more room for failure: one of the horses could lose and the bettor would still make a return because three of the bets made under a trixie are doubles that only require two of the horses to win.
A patent bet brings more bets into the equation, so that three singles are being made alongside the three doubles and one treble of a trixie bet. In the given example, this means that the bets being made are as listed below:
- Three single bets
- Runner 1 to win, but Runner 3 and Runner 5 to lose
- Runner 3 to win, but Runner 1 and Runner 5 to lose
- Runner 5 to win, but Runner 1 and 3 to lose
- Three double bets
- Runner 1 and Runner 3 to win, but Runner 5 to lose
- Runner 3 and Runner 5 to win, but Runner 1 to lose
- Runner 1 and Runner 5 to win, but Runner 3 to lose
- One treble bet
- Runner 1, Runner 3 and Runner 5 to all win
This offers a lot of coverage because one or two horses can fail to win and the bettor would still make some kind of a return. The only way under a patent bet for the bettor to not make a return would be for all three horses to lose.
It is important for bettors to remember that a patent bet costs more than a standard bet because of the number of bets that are being made. For each bet placed under a patent bet, the original stake is multiplied. This means that if a bettor were to stake £2 per bet, the total cost of the patent bet would be £14. If the stake were to be £5, the total stake would actually be £35.
Additionally, as the bettor has more likelihood of securing some money back, the returns are likely to be lower. This is because the bettor is taking less of a risk by having so many assurances open to them.
Bets similar to a patent bet
As mentioned, the patent bet is a form of multiple bet, and there are many different kinds of multiple bets available.
Double bets are straightforward and simply offer the bettor two selections under one bet. There are no reassurances for bettors making this kind of bet. Both participants must win for the bettor to secure a return.
Treble bets allow bettors to make three selections under one bet, and again there are no failsafes. All three selections must win or the bettor does not secure any kind of return.
A trixie bet is similar to a treble bet but there are different kinds of bet involved. In this case, the bettor is making three double bets and one treble bet from three selections, ensuring that even if one of the selections fails to win then a return is still made.
Even more reassurances are involved in a yankee bet, which asks the bettor to make four different selections and 11 bets. These bets are a four-pronged accumulator, six doubles and four trebles. Stakes can still be lost under a yankee bet, but there is greater chance for the punter to make a return.
Finally, a Lucky 15 wager allows the bettor to make 15 bets. Under a Lucky 15, the punter is placing 15 bets, namely a four-fold accumulator, four singles, six doubles and four trebles. As a part of a Lucky 15, bettors are entitled to bonuses under certain circumstances. For example, if all of their selections win, bookmakers will offer them an additional amount of money on top of their earnings because that scenario was so unlikely.
Patent bets are good options for bettors who want reassurances that they'll make some kind of a return from their bet. While those returns are likely to be lower than those made on bets without such assurances, there is still security in knowing that the whole bet will not be lost if one of the selections does not win.
Plus, don't forget to check out our bet calculator, where you can calculate your winnings.