Types of bet

The world of online betting can be daunting and appear complicated. However, once you understand the basics, then knowledge will always be the best resource you can have

Below is some basic advice that we hope will help!

Common types of bets:

A single bet

A single bet wins/loses depending on the outcome of a backed event. When placing a bet you must decide the amount you want to stakethe higher the stake, the higher the potential winnings (or loss).

If the selection loses the bookmaker keeps the stake and returns you nothing. If the selection wins, the stake is multiplied by the odds (fractions or decimal) to calculate the profit. Both profit & stake are returned the customer.

Bookmakers offer higher odds on selections they believe less likely to win. The higher the odds, the greater the winnings. A basic strategy is to place bets on selections you think are more likely to happen versus the odds given.

An each-way bet (most commonly in horse racing) can limit the risk by generating a return if the selection only finishes in a placing position.

For example:

Arsenal v Chelsea = 2/1 odds (3.0 in decimal format)

This means, for every £1 you bet, you will receive £2 back if your bet wins.

Let’s say you bet £10, and Arsenal win, then:

Return = £10 x 2/1 + £10 stake = £30

Profit = £30 – £10 (original stake) = £20

ACCA or Accumulator bet

An accumulator or ACCA is a bet that generally combines three (a treble) or more selections into a single wager that wins only if each individual bet wins.

Winnings are much higher in an ACCA, but contain much more risk – it only takes a single selection/bet to lose for the entire bet to lose.

A lot of bookmakers now offer ACCA insurance that means should one of your bets/selection in your ACCA lose, and the others win, then they will still pay out as a winner.

Types of ACCAs:

Number of selections:

2

3

4

5

6

7

8

Name of bet:

Double

Treble/Triple

Four-fold Accumulator

Five-fold Accumulator

Six-fold Accumulator

Seven-fold Accumulator

Eight-fold Accumulator

For example:

Below is an example of a four-fold accumulator/ACCA bet at £10

Selection:

Arsenal to win
Chelsea to draw
West Ham to win
Man City to win

Result:

Arsenal 1 – Tottenham 0
Chelsea 2 – Man Utd 2
West Ham 2 – Leicester 1
Man City 3 – Watford 1

Odds:

1/2 (1.5)
3/2 (2.5)
3/1 (4.0)
2/3 (1.67)

Bet result:

win
win
win
win

In this winning example, the payout would be as follows:

Return = £10 x 1.5 x 2.5 x 4 x 1.67 = £250.50

Profit = Return – Initial Stake = £250.50 – £10 = £240.50

note: if any selection fails to win, the stake is lost. For example, if West Ham lost or drew to Leicester, then the selection would have lost and the whole ACCA will lose (losing your £10 initial stake)

Dutching

Dutching involves dividing a stake over a number of selections in an event, so that the same amount is won, regardless of which selection wins. This can be helpful when there are two or more outcomes you wish to back.

For example, there is a horse race with 2 runners with odds of 10/1 and 5/1 that you would like to back. With a total stake of £20 it might be tempting to split this into two £10 bets; however, should the 10/1 horse win, your returns would be much higher. Therefore, the solution is to reduce the amount staked on the horse with higher odds, and increase proportionally, the stake on the other until the winnings are equal.

Online dutching calculators will help to do this, as it can be a complicated mathematical procedure!

Find out more, with our guide to Betting odds and our Glossary of terms