Goliath Bet 2020: Strategy, Tips & Top Betting Sites
The name Goliath is synonymous with being huge, as in the story of David versus Goliath. And thanks to the Goliath bet type, sports bettors can get themselves in on some potentially huge action as well. In this Goliath betting guide, find out everything you need to know and have the Goliath bet explained to help you understand the wager and what you can do to use it to your advantage in the future.
- Comprised of eight selections
- Turned into 247 total wagers
- Amount of winning to be profitable depends on odds
- Going eight for eight results in massive return
What is a Goliath bet?
As the name of the bet suggests, the Goliath bet is a massive wager. It consists of eight betting picks, but those picks are turned into 247 total bets. The wagers are broken into the following categories.
- 28 two fold accumulator plays
- 56 three fold accumulator plays
- 70 four fold accumulator plays
- 56 five fold accumulator plays
- 28 six fold accumulator plays
- 8 seven fold parlays
- 1 eight fold parlays
You will notice that there are no single bets in this card, which is interesting given the fact that virtually every other combination of bet appears to be covered. But if bettors can make accurate predictions on most of the eight selections that they make, they could find themselves cashing in on the majority of the accumulators that are listed here for a nice return on investment.
How does a Goliath bet work?
The Goliath bet features a ton of different wagers, but it doesn’t require a lot of work to place, especially relative to how intimidating it can look from the outside. The first Goliath bet step that needs to be taken is for a bettor to log into their preferred sportsbook account, to make sure that a bettor has adequate funds to place this kind of bet.
From there, a bettor should select the eight picks that they want to make to complete their Goliath bet. Keep in mind that the odds of the eight picks will have an impact on the payouts of each bet in the Goliath bet. After the choices are made, bettors have the ability to select the Goliath bet option, with the sportsbook placing all 247 multi bets automatically when that option is chosen.
For the most important step of this process, bettors need to make sure that they lock in their stake correctly. There are two different ways to stake a Goliath bet. The first is the stake per bet method, which applies the chosen stake to each of the wagers in the Goliath bet. Then there is the total combined stake option, which takes the bettor’s chosen stake and splits it up among all of the individual wagers. It is vital that bettors double check this option to make sure that they get it right to avoid issues with their bankrolls.
Advantages of placing a Goliath bet
There are some big reasons as to why the Goliath bet is one of the best bet types, with the potential for gigantic profits being at the top of the list. With so many wagers being placed at once, the Goliath bet has the potential to pay out a return much better than one eight-leg parlay bet. And without needing all eight legs to win to make a profit, this kind of bet is ideal for bettors who are able to win at a high percentage.
Also working in the favor of the Goliath bet is the fact that it is highly customizable. Rather than having to stick to a specific set of odds or conventional wisdom, bettors can go all over the board to make their eight picks. They can fill the Goliath card with huge underdogs, heavy favorites, and everything in between in every sport from football to horse racing and beyond in most cases. And with those picks having a direct impact on how many winners need to be included for a profitable wager, the Goliath bet is great for bettors who like to think outside of the box.
Drawbacks of placing a Goliath bet
If there is one drawback to be had from placing the Goliath bet, it is the fact that this kind of bet requires bettors to be successful in most of their picks in order to return a profit. Whereas winning five out of eight single wagers would be enough to make money, there are times where converting on five out of eight picks in a Goliath bet will result in a loss. It is important to use a Goliath bet calculator or to otherwise map out the potential payout of these wagers ahead of time to know how many winners a bettor needs to enjoy a profitable Goliath.
Example of a Goliath bet
An example of a Goliath bet is hard to rely on, given the fact that this type of bet can vary in payouts so wildly based on the potential payouts of each selection. But whether you are placing a Goliath bet on NFL football, the Premier League, horse racing, or any other sporting competition, the idea remains the same. If a bettor wins most of their eight picks, they have a good chance to make a profit with this type of wager.
For this example, we are going to make eight football selections against the spread. The reason we are using football spread picks in this example is because those football picks tend to have odds of –110, or something close to it. With eight football picks at odds of –110, six of the eight selections need to hit in order for the Goliath bet to be profitable. In situations where the odds are at plus money or even closer to even money, the number of winning picks required to turn a profit would be lower.
How to win a Goliath bet
As you can see from our example above, winning a Goliath bet isn’t easy. Bettors are required to win a fairly large number of wagers in order to make a return from this type of bet when placing spread bets or totals with fairly standard odds. With that information in mind, how does one go about winning a Goliath bet in spite of the obstacles that might stand in the way?
Perhaps the most important of the Goliath bet tips is explained as the fact that bettors should look to win as many of their selections as possible. That should go without saying, but the odds won’t matter nearly as much in terms of making a profit if a bettor is winning six or seven of their eight picks. Granted, if it were that easy to pick games, making money at sports betting would be easy for everyone.
Another piece of Goliath betting advice worth taking is not to get too risk averse. While bets with longer odds might not be guaranteed to win, bettors who aren’t afraid to mix in a longshot or two can really turn up the potential profitability of their Goliath selections, with boldness leading to a potential added bonus when all is said and done.
How to calculate Goliath betting payout
There are plenty of ways to calculate the Goliath betting payouts for your specific eight selections. One such way is for bettors to manually go through and calculate the payouts for the different parlay bets that make up the wager. But that would take a very long time given that there are 247 different parlays crammed into this bet type. Instead, bettors can use a Goliath bet calculator to figure out what their potential payouts could be.
With a Goliath betting calculator, bettors can enter the specifics for each of the eight selections that they plan on making for their wager. They can also enter if that bet is a winner or loser, so that they can see what the payout would be for their betting with every win and loss combination possible. This allows bettors to see how many bets they would need to cash in order to turn a profit, as well as what combinations would be explained as the most profitable over the course of this bet. Compared to manually doing the math of which parlays would pay out what amounts, the calculator option is a much easier way to do things.
Find the ideal sportsbook to place your wager
Now that you understand how Goilath betting works and how to place one, it is time to put that knowledge to good use with a Goliath bet or two of your own. To place Golath bets, you need to go to a sportsbook, but which sports betting operator should you choose? Let our sportsbook comparison tool help you make that decision, as our tool can help you compare bookmakers to help you decide what the best choice is for you based on the available bonus or other criteria aside from the bonus. Whether you are looking for a book with the top available promotions or want something a little different, our sportsbook comparison tool can likely help, so don’t wait any longer to check it out.