What is a Multiple Bet?
Sometimes, a straight bet just doesn’t do the job. You’re confident in the results of a couple of different games in your sports betting, so you want to place multiple wagers easily. Let’s talk about a multiple bet explained.
Multiple bets are one of the more common types of wagers in sports betting, and they’re getting used more by experienced sports bettors. It’s a betting type that balances high risk with high reward, so it’s worth looking into if you want to up the stakes. If you want to know what multiple bets are, you’ve come to the right place.
Who is this article suitable for? – The experienced sports bettor
We want to start this off by explaining we believe multiple bets should only be used by experienced sports bettors. There are too many variables, and different factors to take into account for someone new to sports betting, so your best bet would be to stick to simpler options. Take a look at our betting guide to learn the basics of how to bet.
Now, when it comes to multiple bets, we believe they are just generally accepted. No matter what kind of multiple bet you’re making, many bettors just take them for face value without fully understanding them.
We believe this is a mistake, as you must have a full understanding of everything that goes into a multiple bet before you get started on them.
Every single type of multiple bet explained features two or more bets, so there’s bound to be some complicated odds and factors that need to be accounted for.
At theGruelingTruth.com, we want all bettors to be fully knowledgeable about everything they do when they are sports betting. Knowledge is power as we say, and there’s no better way to get knowledge than to research and put that research into practice.
Let’s get stuck right into our full guide of a multiple bet explained, and all of the different types of multiple bets.
Multiple bet explained – What is a multiple bet, and how does it work?
People know multiple bets by a variety of names. Some will call it a parlay bet, others will call it an accumulator. The differences are subtle in practice, as they all have the same essential concept.
A multiple bet is when you make several different wagers and selections, and bet on these multiple selections as a single wager.
Two selections are double, three selections are a triple, and anything above three is simply known as an accumulator (four-fold, fivefold, sixfold, etc.) The odds on a multiple bet are usually calculated as double or triple the average of all the single bet odds.
As you can imagine, a multiple bet is very difficult to secure, and even more difficult to win with consistently. We’d always recommend that the player place multiple bets on sports they are familiar with, that way they are using their knowledge of the game to multiply their potential winnings.
All it takes is one of the games to be a loss, and your entire multiple bet is a loser. On the flip side, the potential winnings on a triple bet, for example, will be substantially higher than placing a single bet on three different games.
Types of multiple bets – The different types of multiple wagers you can place
We’ve mentioned the different names that multiple bets can have, like accumulator and parlay.
In most cases, these are just your basic multiple bet types – a double, and a triple bet. However, some alternative multiple bet types are a little different than your standard multiple bet. Here are some other types of multiple bet explained.
Patent bet
This is seven different wagers made across three different selections. It’s composed of three singles, three doubles, and one triple. A bet like this usually involves plenty of calculations and knowledge about the game you are betting on.
Yankee bet
This is the next step up from the patent. It’s eleven selections made across four different selections.
Your typical Yankee is composed of six doubles, four trebles, and one four-fold. This is an extremely complicated betting type that we’d only recommend to those who know what they’re doing and the sport they’re betting on.
It’s a case of majority rules here, e.g. if the bets you win are more than the ones you lose, then you’ll win the entire Yankee. Just know your sportsbook betting lines before you commit yourself to a Yankee!
A combination tricast
This one can only be used in horse racing, or in some cases, athletics. In a tricast, you’re looking to choose the 1-2-3 finishers in a race: who will finish first, second and third. The interesting part about the combination tricast is that it’s not limited to one race.
You can place three wagers across three games, or a treble as long as each of your picks finishes anywhere from 1st to 3rd in their respective races. This wagering type is another that is very strict on its regulations, and you’d have to have a good mind for forecasting races before committing yourself to this.
Heinz bet
Be prepared to hold your hat for this one! The Heinz Bet features 57 bets across six selections. This normally includes 15 doubles, 20 trebles, 15 four-fold accumulators, 6 fivefold accumulators, and 1 six-fold accumulator. As you may expect, we would very very rarely recommend this betting type to any of our bettors.
It requires such an in-depth knowledge of all the games you are betting on. However, if you’re an expert, and you believe you could come home with a huge prize, we’d say you wager low on each of these bets. The margin for error is very slim for a Heinz bet.
There are plenty more betting types that add to your classic accumulator or multiple bet. The number of multiple bets you can stretch up to can get outrageous. The Goliath bet sees 247 different bets!
Ultimately, any multiple bet you take is a wormhole, so we’d recommend you keep it in the single digits unless you are practically an expert on the sport at hand.
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Pros and Cons – The advantages and disadvantages of multiple bets
Advantages
The most obvious advantage of placing multiple bets is the significant winnings you could potentially win. It’s a much greater return even if you make a small investment, and it usually only requires some small scattered wagers across a couple of similar enough games.
Another upside to multiple bets such as accumulators is that they’re very popular among the best sportsbooks. Most sportsbooks will offer some great value multiple bets, and oftentimes, many bonus offers will be wagered on parlay or accumulator bets. This can be where a bettor can get their edge.
The bettor is always looking for that edge when they’re betting, that extra something that will give them the push to succeed in their wagers.
The fact that most sportsbooks offer multiple bets as a wagering bonus could be where a bettor takes advantage of the opportunity. If the bettor is smart and experienced enough, they could walk away with some serious profit with their bonuses placed on multiple bets.
The other well-known advantage is that placing a multiple bet is usually far more advantageous than placing multiple single bets. The odds are almost always enhanced for most parlay and accumulator bets compared to your average single bets.
Depending on the odds and the stake you can come out with, your profit can almost double in some cases. It depends on several factors, but in most cases, accumulators will turn out more profitable than multiple straight bets.
Disadvantages
The primary disadvantage is that multiple bets are tough to succeed with. The odds may be appealing, but they’re just simply out of your favor when you rely on multiple bets.
It comes as no surprise that many casual and inexperienced bettors will jump on multiple bets without doing their research.
Many experienced bettors who rely on sports betting as a profession will usually back down in the face of multiple bets.
No matter how experienced you are as a bettor, there are just some unmitigated factors you cannot prepare for as a sports bettor. That’s how sports betting works. The larger the potential profit, the harder it is to achieve the eventual profit.
Another disadvantage that people don’t usually account for in the calculations. If you take on a large multiple bet like a Heinz bet, the calculations for that bet can get out of hand. The odds on it will be unbelievably competitive, but you may have to place more money than you anticipated just to get that huge profit you’re looking for.
Look at it like this. You have to place a wager on 20 trebles, 15 doubles, and several other bigger accumulators that all have to be researched and fully looked into to see if it is worth the investment.
You may find a standard treble bet will be more valuable than a Heinz bet in the long run because you’ll just be left with a headache and scattered wagers that you might not even be able to account for.
Which sportsbooks offer the best multiple bets? Where can you find the offers for your multiple bet explained?
There are some fantastic bookmakers out there that have some worthwhile multiple bets to check out.
You have to remember the key component of every great multiple bet is the odds. The odds have to be competitive, more competitive than your average single bet. There are a few different places where you can find those competitive odds.
DraftKings is a platform that offers regular bonus offers to use on multiple bets. Their odds on the likes of football, basketball, MMA, pro wrestling, and baseball are second to none, and if you consider yourself an expert on subjects like this, you could potentially make some profit placing a few trebles or doubles with DraftKings.
Another platform we’d recommend is Fanduel. The great thing about Fanduel is that they do offer bonus offers that are exclusive to multiple bets.
Just take a look at their UFC Parlay Insurance, a great example. All you have to do here is place a four-fold accumulator on an upcoming UFC PPV. Your bets need to be on odds of +300 and greater, and the overall parlay needs to have odds of -200 and over to qualify for the wager.
If you lose the parlay, you’ll get your entire wager refunded to you, and you can have another shot to try again on another UFC card in the future.
Fanduel regularly offers similar bonus offers based on different sports, so they’re a platform worth checking out. At the end of the day, it’s your personal preference of who you want to bet with. But, we believe DraftKings and Fanduel have some great multiple bet opportunities on their platform.
Conclusion – Your full guide to multiple bets
Multiple bets are complex. You can’t deny you need a good head on your shoulders and some good experience with betting to commit yourself fully to multiple bets. However, they can be valuable if you fully understand them, and know when to take risks with your multiple bets.
There are many different types of multiple bets you can test out, but we’d recommend you stick to simpler multiples, like doubles and trebles. We’d suggest you weigh up all the advantages and disadvantages before you take up a multiple bet because we don’t think it’s something any bettor should do consistently.
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Multiple bets explained FAQ
💻 What’s the best betting type to test out for a new bettor?
That’s a good question. There are many different great betting types out there for you to try out, but we recommend you stick to the simpler betting types. Check out our article on over under betting for one of our favorite betting types.
💰 Can I try out multiple bets in New York?
The thing about betting in the United States is that every state has different gambling laws. Some states have legalized sports betting, in other states sports betting is completely illegal. To learn more, check out our piece on the legal gambling age.
👊 Where can I learn more about different betting types?
That depends on what you want from your betting experience. Maybe you want a more casual betting experience, but you might want to fully invest yourself in sports betting. We’ve got something for everyone here, so check out our Betting Guide to learn all you can.
