The world of sports betting has never had more options within it and punters are truly spoilt for choice when it comes to the different bet types available to them, across a range of sporting markets.
Following that mould, Patent Betting is a popular form of multiple betting that offers players the opportunity to make a return on their investments by placing bets on multiple selections and like so many of the multiple betting concepts, it was born from the world of horse racing.
What is Patent Betting?
In simple terms, Patent Betting is a multiple betting strategy that gives each player seven opportunities to win, on any given combination bet. Patent betting works by combining three different selections into a single bet and covering all bases across the initial three bets placed.
Each bet within a patent includes three single bets, three doubles and one treble, covering all permutations should not all of the chosen bets come good. Meaning, if any one of the three selections wins, then the player will receive a pay out, whilst if all three of the selections win, then the player will receive a larger pay out, as more selections have landed on a particular punt.
How does Patent Betting work?
Let’s delve into the world of patent betting and look at the concept in a little more detail.
Patent Betting is most commonly used in the world of horse racing, so let’s work to the premise that a particular punter has chosen three horses in a patent bet, horse A to win in the first race, horse B to win in the second race, and horse C to win in the third race.
In actual terms, the punter’s patent bet would include seven different bets:
- A single bet on horse A to win.
- A single bet on horse B to win.
- A single bet on horse C to win.
- A double bet on horses A and B to win.
- A double bet on horses A and C to win.
- A double bet on horses B and C to win.
- A treble bet on horses A, B, and C to win.
As with many multiple bets, the returns only start coming in if any of the selections win their chosen race or event. In this example, if any one of the three horses wins, then the player will receive a pay out, with the price dependant on the odds or SP.
Let’s say here, that if horse A wins and horses B and C lose, then the bettor will receive a pay out on their first bet – a single bet on horse A to win.
As the sequence develops, if horses A and B win and horse C loses, the punter will receive a bigger pay out, as bets 1, 2 and 4 above have landed – two singles and a double.
Meaning, that if horses A, B and C manage to win, then the player will receive the maximum pay out on their patent, as all seven bets above have landed – 3 x singles, 3 x doubles and 1 x treble.
What are the benefits of Patent Betting?
As with any betting strategy, there are risks attached but should they come off, they tend to yield bigger returns for players, that simply just betting on one outcome at a time.
In simple terms, one of the key benefits of patent betting is that it offers a higher chance of winning compared to placing a single bet. This is because there are multiple bets included in the patent, giving the punter more opportunities to win, across three individual betting markets.
Another benefit of patent betting is that it can be used to reduce risk, because a player is placing multiple bets and has a safety net should they be let down by one leg within the bet. Additionally, patent betting can be used to cover more than one outcome in a race or match. For example, a punter may place a patent bet on a horse to win and another horse to place, giving them two opportunities to win.
Inevitably, building a patent bet will cost more than a regular single bet but should it come good, it maximises the potential pay out and it gives players a valuable cushion should they need it.
Patent Betting strategies
There are a few different strategies that punters can use when placing patent bets.
One popular strategy is to choose selections with higher odds in order to increase the potential pay out and with all singles and doubles covered within the patent, one single win will yield a return. Of course, higher odds mean a lower chance of winning but if a longer shot lands, it can set up a patent for the other two bets to simply add to an already hefty prize pool.
Backing the favourites across three events or races in a day can also yield strong returns on a patent and rather than an accumulator, it will keep the bank balance ticking over for a player if only one or two of their three selections manages to win the race or event.
Patent Betting
Overall, patent betting is a popular form of multiple betting that can offer bettors a higher chance of winning and a potentially larger pay out. By combining three selections into a single bet, patent betting gives players multiple opportunities to win, which can help reduce risk and increase the chances of a return, on any given sporting market.
