Single Bet Types - Explained






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Single Bets - explained

Single bets are available on most sports at bookmakers and totes (pari-mutuel) across the world.

Win Place Show Each-Way Forecast Tricast Double Treble Accumulator


Win bet - The simplest bet of all. Your selection must win the event to be paid out. Typically demonstrated by a bet on a horse to win a race, quoted in the form 6-1 for UK racing where you will be paid six units for every one staked if your selection wins the race. If the horse is odds-on, e.g. 1-6, you would receive 1 unit for every six staked. Money Line - this is how it is known in the USA and will be quoted in the form +600, a winning bet of $100 will win $600. If odds-on it would be quoted as -600 and you would need to bet $600 to win $100. Tote Bet or Pari-mutuel - In the UK horse race tracks and greyhound tracks will have pool betting known as the Tote (also labelled Britbet) and in Australia the Tab. In France, USA and elsewhere this is known as the pari-mutuel and most of their betting is in this form. This operates with all the money bet on different horses being pooled and after the winner is decided the total money is split between the backers of the winning horse. Prices are displayed as a return for a £1 (or local currency) stake after the pool deduction (the profit) has been removed. In the UK the pool deduction rate is 19.25%.

Place bet - Available for horse racing and some other events this is a bet less popular with people using bookmakers but commonly available as a tote bet (pari-mutuel). Typically you are betting a horse will finish in the top 3 places (when a race has 8 or more runners) but can be 2 places (with 5 to 7 runners) or 4 places (with 16 or more runners). In special races or festivals bookmakers and exchanges will offer bespoke place terms that might have more than 4 places and this can be done with other sporting events like golf where there may be 150 runners. USA - in North American horse racing the Place Bet has a specific meaning of your selection must come either first or second for you to win your bet. Tote Bet or Pari-mutuel - In the UK horse race tracks and greyhound tracks will have pool betting known as the Tote (also labelled Britbet) and in Australia the Tab. In France, USA and elsewhere this is known as the pari-mutuel and most of their betting is in this form. This operates with all the money bet on each different horses being split between the backers of the specific horse. Prices are displayed as a return for a £1 (or local currency) stake after the pool deduction (the profit) has been removed. In the UK the pool deduction rate is 20%.

Show bet - This is unique to North America. It means to be placed 1st, 2nd or 3rd. As with other tote and pari-mutuel systems the North American Tote will give different dividends for each horse that finishes in the first three. Across the Board - this is a popular bet in the USA and actually 3 bets in one. A win bet, a place bet and a show bet. A $2 across the board bet costs $6.

Each-Way - Strictly speaking this is 2 bets but because this is commonly thought of as one bet in the UK we will treat it as such. More importantly when placing an each-way bet the odds you get for place part depend solely on the win price and is always better than a single place bet would offer and so it can be rightly considered a single bet with 2 parts. An each-way bet will be in the form of £5 e/w at 6-1, meaning a £5 win bet at 6-1 and a £5 place bet at the place terms defined normally by how many runners there are in the race or special conditions offered by the bookmaker. For example in a 10 horse race the standard place terms will be 1/5 odds. So a winning each-way bet at 6-1 in this case will win (6x5) + (1/5x6x5) = £36. An each-way bet of £5 e/w at 6-1 when the horse finishes 2nd or 3rd will result in a payout of (-5) + (1/5x6x5) = £1 which results from winning the place part of the bet and losing the win part.

Forecast - In a forecast bet you are picking 2 selections that must finish 1st and 2nd and in the correct order. Other names for exactly the same bet are Straight Forecast or Computer Straight Forecast (often seen as CSF). It is known as CSF because bookmakers use a lengthy algorithm to calculate the odds of the forecast which is done by computer. Most often this bet applies to horse racing and dog racing but sometimes other sports like F1. This bet is also offered by the Tote and pari-mutuel providers and just like with other tote bets all the money is pooled and all the selectors of the winning forecast share the pool minus the pool deduction which is the operator's profit. Prices are displayed as a return for a £1 stake (or other currency) with the pool deduction already included. In the UK the pool deduction is 25% and this bet is called the toteexacta. The toteexacta pool is operated on all races of 3 or more runners unless otherwise stated. A Forecast is known in the USA as exacta or perfecta and in Canada as exactor. Reverse Forecast (RF) - this is actually 2 bets of 2 forecast bets. In this bet you select 2 horses (or other like dogs) to finish in either order of 1st and 2nd. Bookmakers only. Combination Forecast - This is exactly the same as the Reverse Forecast (above) but here you can select more than 2 runners. In the case where you choose 3 horses for your Combination Forecast this results in having 6 Reverse Forecast bets. So a £1 combination forecast bet with 3 selections costs you £6. This is a common bet in dog racing.

Tricast - A Tricast bet follows the principle of the forecast bet (above) except in this case you are selecting 3 horses (or other types of runners) to finish 1st, 2nd and 3rd in the correct order. The Tricast bet is most commonly found in horse racing and dog racing although in the UK you can have this bet with a bookmaker on a horse race only if there are at least 8 runners. There is an industry standard calculation for the Tricast bet and this will be paid by all bookmakers. This bet is also offered by the Tote and pari-mutuel providers and just like with other tote bets all the money is pooled and all the selectors of the winning tricast share the pool minus the pool deduction which is the operator's profit. Prices are displayed as a return for a £1 stake (or other currency) with the pool deduction already included. In the UK the pool deduction is 25% and this bet is called the totetrifecta. The difference with the totetrifecta is that it operates in all UK races when there are 3 or more declared runners unless otherwise stated. This is different from bookmakers who require 8 runners or more in horse races. USA - in North America the Tricast is known as the trifecta. Canada - in Canada the Tricast is known as the triactor.

Double Bet - A Double Bet is the simplest of extensions to the Win Bet (above) but here you must make 2 selections, one in each of 2 different events which do not have to be in the same sport, or even on the same day. To win a double bet both of your selections must win their event. If one of your selections wins in a dead-heat then normal dead-heat rules apply and half of your bet will win and go onto to the second leg of your bet. To calculate winnings from a double bet you must include your stake money from winning the first leg of your bet when multiplying by the odds of the second leg. This bet is also offered by the Tote and pari-mutuel providers and just like with other tote bets all the money is pooled and all the selectors of the winning double share the pool minus the pool deduction which is the operator's profit. Prices are displayed as a return for a £1 stake (or other currency) with the pool deduction already included. In the UK the pool deduction is 20% and this bet is called the totedouble. This is a horse racing only bet and you select a horse in each of 2 specific races at the same meeting as nominated by totepool. Each-Way Double Bet - this is actually 2 bets, one win double and one place double. If your selection in the first event places 2nd then your win double bet has lost but the place winnings and place stake roll onto the second selction in the next event.

Treble Bet - A Treble Bet is a further extension to the Win Bet (above) but here you must make 3 selections, one in each of 3 different events which do not have to be in the same sport, or even on the same day. To win a treble bet all 3 of your selections must win their event. If one of your selections wins in a dead-heat then normal dead-heat rules apply and half of your bet will win and go onto to the next leg of your bet. To calculate winnings from a treble bet you must include your stake money from winning the each leg of your bet when multiplying by the odds of all legs. This bet is also offered by the Tote and pari-mutuel providers and just like with other tote bets all the money is pooled and all the selectors of the winning double share the pool minus the pool deduction which is the operator's profit. Prices are displayed as a return for a £1 stake (or other currency) with the pool deduction already included. In the UK the pool deduction is 20% and this bet is called the totetreble. This is a horse racing only bet and you select a horse in each of 3 specific races at the same meeting as nominated by totepool. Each-Way Treble Bet - this is actually 2 bets, one win treble and one place treble. If your selection in the first event places 2nd then your win treble bet has lost but the place winnings and place stake roll onto the second selction in the next event.

Accumulator Bet - An Accumulator Bet is the ultimate extension of the Win Bet (above) but here you must make multiple selections, one in each of several different events which do not have to be in the same sport, or even on the same day. To win an accumulator bet all of your selections must win their event. If one of your selections wins in a dead-heat then normal dead-heat rules apply and half of your bet will win and go onto to the next leg of your bet. To calculate winnings from an accumulator bet you must include your stake money from winning the each leg of your bet when multiplying by the odds of all legs. This bet is not offered by the Tote or pari-mutuel providers. Each-Way Accumulator Bet - this is actually 2 bets, one win accumulator and one place accumulator. If your selection in the first event places 2nd then your win accumulator bet has lost but the place winnings and place stake roll onto the second selction in the next event.