Way2Bet provides an overview of the more popular sports betting types and the options afforded with Multi-Betting.
Head-to-head bets are the most common and require a punter to pick the winner of an event. For example Team A at 1.50 to beat Team B at 2.60.
Line betting – also known as handicap or points start – is a popular bet type where the bookmaker has handicapped an event. Team A is set to concede points while Team B receives a start of points. For example, this is shown in the betting markets as Team A (+5.5) 1.90 v Team B (-5.5) 1.90
Single bets can also be incorporated into a multi-bet. A Multi-Bet can be either a straight all-up or a parlay.
All-up – requires all of the events (or legs) of the bet to be successful. A parlay requires some of the legs to be successful.
Assume there are four events A, B, C and D. Our punter bets on an all-up consisting of all four legs at odds of 2.00, 1.50, 2.50 and 3.00 respectively and bets $1 all-up. Should all four legs win the punters bet is successful and their collect = 22.50 (2.00×1.50×2.50×3.00) for a profit of 21.50 (collect of 22.50 less 1.00 stake).
Parlay betting is a popular way of mitigating some of the risk of an All-Up, but requires greater investment.
The key advantage of a Parlay is that only some – not all – of your multi-bet legs need to be successful to win a dividend. In addition, some Parlays also include single bets on each selection or leg.
Using the example above on events A, B, C, D at odds of 2.00, 1.50, 2.50 and 3.00 respectively we’ll assume a punter takes a four-leg Parlay (called a Yankee as explained below).
As you’ll see, a Parlay comprises a combination of multiple All-Ups. So in this case the four-leg Parlay is actually 11 All-Up bets. A Parlay for a $1 stake would cost $11 as it is 11 separate bets as follows:
- One four-leg multi (A,B,C,D) – potential collect of 22.50
- Four three-leg multis (A,B,C) (A,B,D) (A,C,D) (B,C,D) – potential collects of 7.50, 9.00, 15.00, 11.25 respectively
- Six two-leg multis (A,B) (A,C) (A,D) (B,C) (B,D) (C,D) – potential collects of 3.00, 5.00, 6.00, 3.75, 4.50, 7.50 respectively
If only three events were to win (A,B,C) and one lose (D), the bet would be resulted as follows:
- One four-leg multi: (A,B,C,D) – loss
- Four three-leg multis: (A,B,C) – win; (A,B,D) – loss; (A,C,D) – loss (B,C,D) – loss
- Six two-leg multis (A,B) – win; (A,C) – win; (A,D) – loss; (B,C) – win; (B,D) – loss; (C,D) – loss
In this example there were four successful bets from eleven bets. The collect would be 19.25 (7.50 + 3.00 + 5.00 + 3.75).
The dividend is also a factor of the odds in each leg. For the record, if all four selections been successful the collect would have been 95.00
A definition of parlays as provided by Sportingbet.com.au .
Trixie – 4 bets on three legs. ($4 total for a $1 bet).
1×3-leg multi; 3×2-leg multi.
Patent – 7 bets on three legs. ($7 total for a $1 bet).
1×3-leg multi; 3×2-leg multi and 3 single bets.
Yankee – 11 bets on four legs. ($11 total for a $1 bet).
1×4-leg multi; 4×3-leg multi; 6×2-leg multi.
Lucky 15 – 15 bets on four legs ($15 total for a $1 bet).
1×4-leg multi; 4×3-leg multi; 6×2-leg multi and 4 single bets.
Super Yankee – 26 bets on five legs. ($26 for a $1 bet).
1×5-leg multi; 5×4-leg multi; 10×3-leg multi; 10×2-leg multi.
Lucky 31 – 31 individual bets on five legs. ($31 for a $1 bet).
1×5-leg multi; 5×4-leg multi; 10×3-leg multi; 10×2-leg multi and 5 single bets.
Heinz – 57 individual bets on six legs. ($57 for a $1 bet).
1×6-leg multi; 6×5-leg multi; 15×4-leg multi; 20×3-leg multi; 15×2-leg multi.
Lucky 63 – 63 individual bets on six legs. ($63 for a $1 bet).
1×6-leg multi; 6×5-leg multi; 15×4-leg multi; 20×3-leg multi; 15×2-leg multi and 6 single bets.
Super Heinz – 120 bets on seven legs. ($120 for $1 bet).
1×7-leg multi; 7×6-leg multi; 21×5-leg multi; 35×4-leg multi; 35×3-leg multi; 21×2-leg multi.
Goliath – 247 bets on eight legs. ($247 for $1 bet).
1×8-leg multi; 8×7-leg multi; 28×6-leg multi; 56×5-leg multi; 70×4-leg multi; 56×3-leg multi; 28×2-leg multi.