There are many ways of ways to place a bet on horseracing. You may have heard people talking about a Patent Bet, but you might not know exactly what this is. Well, don’t worry, we are here to explain it all for you, so here goes.
What is a Patent?
A Patent bet is when you select three horses in three different horse races.
You are backing all of them to win, but spreading your bet out to cover all the combinations they make.
To summarise you are placing a wager on three horses consisting of 7 bets: 3 singles, 3 doubles and a treble.
As you’re placing seven bets, if your unit stake is for example £1, it will be multiplied by seven to cover the three singles, three doubles and the treble making a total stake of £7.
Any one winning selection from the patent is enough to generate a return – this is considered to be one of the main advantages over a trixie which is a similar bet but without the singles.
Two winners generally gives you a return which is higher than your initial stake on the bet.
If you are lucky enough, or skilled enough to pick three winners, the returns can be very decent indeed.
If you decide to do an each way patent you are in effect placing 14 bets on two separate patents. The first one is that the horses will win and the second that the horses will be placed.
Calculating returns from a patent.
To calculate the returns from a patent manually you need to add 2 to the odds of each winning selection then multiply them together and multiply by the stake, then you subtract the unit stake.
Sounds complicated? Let me give you it in numbers.
For instance you have placed a £1 patent (costing £7) on three horses all at 3/1. Your three horses all win so you add 2 to each of these odds making 5.
Multiply the three together 5 x 5 x 5 = 125
Multiply this by the unit stake (1) 125 x 1 = 125
Minus the unit stake 125 – 1 = 124
Your return for your patent bet is £124, take off the total stake of £7 and you have made a profit of £117.
What if you only have 1 or 2 winners?
In that case leave the losers out of the calculation.
For 1 winner at 3/1 the calculation becomes 5 (3/1 + 2) x 1 (unit stake) = 5
Minus the unit stake 5 – 1 = 4
Your return for your patent bet is £4, take off the total stake of £7 and you have made a loss of £3.
For 2 winners both at 3/1 the calculation becomes 5 (3/1 + 2) x 5 (3/1 + 2) x 1 (unit stake) = 25
Minus the unit stake 25 – 1 = 24
Your return for your patent bet is £24, take off the total stake of £7 and you have made a profit of £17.
Patent betting does not need to be confined to horseracing. This kind of bet works just as well with other sports too. Betting on tennis, betting on cricket and betting on football can all be done using a patent bet.
You can also mix and match between different sports.