A patent bet is a form of bet which combines seven different bets involving three selections across three different events. By placing a patent bet at a top bookmaker, a bettor is in effect making three single bets, three double bets and one treble bet. The appeal of a patent bet lies in the fact that if just one of the choices is successful the bet will deliver a pay out, whereas if all parts of the bet come off, the profit from a fairly small stake can be substantial.
The best way to explain the working of a patent bet is to give an example:
A patent bet is placed on the following horses – Lucky Lad, running in the 2.15 at Chepstow, King Boris, running in the 3.15 and Speed Merchant, running in the 4.30. Lucky Lad is running at odds of 12/1, King Boris at 5/1 and Speed merchant at 25/1. A stake of £2 for each bet will cost £14 to place, since there are 7 bets in total. The possible permutations, if the bet is placed as a single rather than each way bet, are as follows:
Only Lucky Lad wins – pay out of £26 and a profit of £12
Only King Boris wins – pay out of £12 and a loss of £2
Only Speed Merchant wins – pay out of £52 and a profit of £38
Luck Lad and King Boris both win – pay out of £194 and a profit of £180
Luck Lad and Speed Merchant both win – pay out of £754and a profit of £740
King Boris and Speed Merchant both win – pay out of £376 and a profit of £352
All three horses win – pay out of £5290 and a profit of £5276
As can be seen, a patent bet offers the chance of sizable winnings from a fairly small stake, and, unlike an accumulator, it doesn’t need every part of the bet to come off for some type of pay out to be guaranteed. Another way to profit from a patent bet is to combine it with one of the sports betting site bonuses.
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