A patent bet is one of the numerous types of bets that sports bettors can place. It’s often compared to a Trixie bet, it’s mostly used in horse racing, and it’s one way of hedging your bets while increasing your chances of winning.
But what is a patent bet exactly, and when and why should you use it?
In this article, we explain everything you need to know about this popular horse racing bet.
Patent Bet Explained: What Is a Patent Bet?
The patent bet has grown in popularity in recent years, and it works a lot like the Trixie bet.
Essentially, you pick three selections (seven bets), and if just one of them wins, you still net a return.
It’s a multiple betting method that is known as a coverage bet. In other words, it gives you a bit of insurance in case your treble loses.
Let’s take a closer look at it.
How The Patent Bet Works
The patent bet is made up of three selections (7 bets):
- Three singles
- Three doubles and a Treble
As mentioned, a patent bet works like a Trixie but, but the key difference is that you’re also adding three singles onto each selection.
Well, it increases your odds and maximizes your winning.
As such, your choices appear as:
- One single
- Two doubles
Let’s break that down a little more and look at a patent bet example:
- Bet 1 – First selection (single bet)
- Bet 2 – Second selection (single bet)
- Bet 3 – Third selection (single bet)
- Bet 4 – Selection 1 and 2 (double bet)
- Bet 5 – Selection 1 and 3 (double bet)
- Bet 6 – Selection 2 and 3 (double bet)
- Bet 7 – Selection 1, 2 and 3 (treble)
Because you are placing seven bets on 3 selections, you could aim for a $2 win-only bet. This would cost you $14.
How Much Will I Win On A Patent Bet?
Part of the allure of a patent bet is that it’s guaranteed to come through more often than a regular accumulator. This is because it’s a cover bet. If just one of your winning selections wins, you’ll still net a return.
How much will you win? It depends on how many of your selections win, as well as what their odds were. The more selections that win, the bigger your returns will be. However, while you only need one selection to win in order to guarantee a return, the return will typically be lower than your stake.
Who Places Patent Bets? Does The Patent Bet Work?
Whilst the patent bet is available across most sports, it’s used predominantly in horse racing.
It also goes without saying that most people who place patent bets are experienced horse racing bettors. Make no mistake, a patent bet is a complex bet that’s not easy to get right. And while some people play it for fun, the fact that a patent bet warrants a higher stake than a single or a regular accumulator means the stakes are higher. Thus, it demands serious attention.
Not just that, but tracking the odds and keeping up with your bet requires focus, too.
If, on the other hand, you’re the type of casual sports bettor who usually plays an accumulator and has no experience with other types of more complex bets, you might want to start off with a Trixie bet. It’s similar to the patent bet but simpler.
The patent bet does, of course, work. But like any other bet, how successful your selections are comes down to luck and judgment.
If you’d like to try your hand at the patent bet, make sure to use a patent bet returns calculator.
Other than that, as always, just do your research, take your time to pick your selections – and have fun with it.