Patent Bet Explained 2020: Strategy, Tips & Top Betting Sites
One of the most fun parts of sports betting is having the option to put together a vast number of betting combinations to have a chance at big payouts. And for bettors who utilize the patent horse bet, or other forms of patent bet, there is a great chance to do just that. In this guide to this type of bet, find out what’s a patent bet and have the patent bet explained in a way that will make pulling off that type of betting as easy as possible for the best possible return.
- Bettors pick three selections
- Those selections are placed as three singles, three doubles, and one treble
- Can earn positive returns without winning all three selections
- All three selections do not have to win a return like a treble bet
What is a patent bet?
The answer to the question “what’s a patent bet?” requires a bit of explaining, as the type of bet being placed can be a little convoluted. But the bet is best explained as three single wagers, three doubles, and a treble bet is about as succinct as it can be. The bet is very popular in horse racing, which is why it is often called the patent horse bet. Here is a look at what it entails.
- Three single wagers
- Three double wagers
- One treble
Overall, the patent bet meaning encompasses a bettor selecting three wagers. Those wagers are then performed as a group of three single wagers, combined into three separate doubles, and one three-leg bet including all three of the wagers. With seven different wagers going on at the same time, it can be challenging to keep track of this type of bet, unless a bettor develops an understanding of how the patent bet works.
How does a patent bet work?
Having this type of bet explained to a bettor can take the daunting question of what’s a patent bet and make it a little more digestible. Essentially, this type of betting is broken into several separate bets. The bet consists of three individual bets, one for each individual component of the this wager explained above. Then there are three double bets, one for each possible two-bet combination of the this wager’s components. And, finally, because what’s a patent bet without the chance for a big win, there is one three-leg bet consisting of all three components of the wager.
This may seem like a lot, but how to place a patent bet is relatively simple. First, a bettor will log into the sportsbook of their choice with their account funded as needed. They will then pick the three wagers that they want to include in their wager. This can be three horse racing wagers to form a betting combination, or three wagers from football or other sports depending on the rules of a bettor’s sportsbook.
Once the three wagers are selected, the bettor can choose this bet option from their betslip. This will allow the sportsbook to automatically make the different wagers for a bettor, instead of the bettor having to make all of them individually. Now comes perhaps the most important part of answering the question of what’s a patent bet: the stake.
Unlike most wagers, where the stake is simply what a bettor wishes to risk on a wager, the bet has two different ways to put down a stake. The first way is the per bet option, which places all of the wagers for the amount you put into the stake section of the sportsbook. Then there is the total amount way, where the amount put into the stake section will be divided up among each of the wagers. Knowing the difference between those options and placing the correct bet is essential to solid bankroll management and achieving the desired return.
Advantages to patent bet
There are some advantages to the patent bet explained as better than other types of wagers, with the tons of different options for this kind of betting being at the top of that list. Knowing what’s a patent bet means knowing that there are many different wagers that can be won, and the knowledge that not all three selections need to win to get positive returns. That can lower the pressure on a bettor in a major way.
There is also the fact that the patent bet allows for some creativity with selections knowing the high upside of the bet from a payout point of view. And when bettors are able to get creative, the results have the potential to be better than when they are more confined and potentially nervous about making selections. Also, horse racing isn’t the only sport that can be used for these bets. Football is a supremely popular sport to bet on, and football is one of the many sports that can be utilized for the patent wager. But football isn’t the only permissable sport, as non football fans can also get in on the action and hope to earn a return on their investment in a big way with this wager type.
Drawbacks to patent bet
The one drawback to the patent bet explained is basically the fact that this kind of betting has the potential to lose if one or none of the wagers come in. Knowing what this bet is and knowing that it consists of seven wagers can lead bettors to think that they have plenty of chances to win, but there is still the chance that the combinations of wagers don’t pan out in horse racing, football, or otherwise.
Example of patent bet
Now that bettors have had the patent bet explained in terms of how the bet works and how to place one of them, here is an example of a this kind of betting that someone might place online. For this patent bet example, let’s say that there are three races coming up, Races A, B, and C. And in each of those races, we are going to bet on the number one horse in all of them. The number one horse is at +500 odds to win each race.
So in this wager, we will have five single wagers at 500 odds, along with three doubles where the odds are +500 for each leg, and one treble bet with +500 odds on each of the three lets of that multi bet component of the wager. As you can see, the potential returns for this wager has big potential given the relatively long odds of each piece of the equation. But even when backing favorites, there is the potential for a decent return to be had thanks to the several bets being placed all at once.
How to determine patent bet payouts
With one having the placement of a patent bet explained, it’s time to get a little further into understanding what the return on investment going to be. The first thing to know about this is that the payout can vary greatly depending on the odds of each of the selections of each unique patent horse bet. But the overall idea is the same, in that the single wagers are graded as single wagers, while the multi bets are each graded as separate multi bets. Rather than doing the math of calculating all four multi bet payouts themselves, bettors can use a patent bet calculator to do the work for them in many cases.
Patent betting strategy
Having had this type of betting explained in detail, it’s time for bettors to start thinking about a betting strategy that can work for them. Typically, the nature of the patent bet sportsbet requires bettors to make each selection individually instead of thinking about all of them as a correlated group. That is because each leg of this kind of betting is an individual bet as well as a part of multi bets. Therefore, having all of them be related could cost a bettor in the long run, as opposed to attempting to win two out of three or better by letting the wagers stand on their own. This could take some getting used to, but is overall the best approach to this wager type when looking for solid returns on investment.
Difference between patent bets and Trixie bets
There is a very similar bet to the patent horse bet that is known as the Trixie bet. With the wager explained as a series of seven wagers born from three different selections, it’s worth asking how this wager is different than Trixie betting. The answer to that question is the three single wagers that round out these bets. Whereas these bets are made up of seven bets, including three singles, Trixie betting is made up of four wagers that include three doubles and one treble, without the singles.
Find the best sportsbook for you today!
Now that you have had the patent bet explained thoroughly from start to finish, it is time to find a bookmaker where you can put your new patent betting understanding to use. With our sportsbook conversion tool, you can review several sportsbooks to determine which one will meet your needs the best. Whether you are looking for the books with the best bonus offers, odds, or are just looking for one that offers these bets, our tool is a great way to find a sports betting provider that fits your unique needs. So don’t wait, find the ideal sportsbook for you and start betting today.