What is a patent bet?
Comprehensive guide explaining patent bets and how arbitrage betting provides a superior, risk-free betting strategy.
What is a patent bet?
A patent bet is a type of multiple bet consisting of seven bets on three selections: three singles, three doubles, and one treble.
Patent bets are popular because they cover all possible outcomes where at least one selection wins, providing a way to secure returns even if not all bets succeed.
While patent bets involve multiple combinations and calculations, arbitrage betting offers a superior alternative by eliminating guesswork and ensuring guaranteed profits regardless of outcomes.
What is a Patent Bet?
A patent bet is a combination bet involving three selections where a total of seven bets are placed: three singles on each selection, three doubles combining pairs of selections, and one treble combining all three. The objective is to increase the chances of a return by covering multiple betting options simultaneously.
- •Consists of 7 bets on 3 selections
- •Includes singles, doubles, and a treble
- •Returns depend on how many selections win
💡Patent Bet Example
If you bet $1 on a patent, your total stake is $7 since you place seven bets of $1 each. If one selection wins, you get a return from that single; if two win, you collect from singles and doubles; if all three win, you benefit from singles, doubles, and the treble.
Total stake = 7 x $1 = $7; Returns vary according to winning bets.
Advantages of Patent Bets
Patent bets allow bettors to profit even if only one of their selections wins, unlike accumulator bets which require all to win. This flexibility reduces risk and makes patent bets attractive for those looking to maximize returns with limited selections.
- •Covers all winning scenarios with at least one winner
- •Reduces risk compared to straight accumulators
- •Good for events with uncertain outcomes
Risk Management
Since patent bets include singles, you are guaranteed some return if just one selection wins, which is not the case with full accumulators. However, the overall stake is higher because you place multiple bets.
- →Singles provide minimum returns
- →Higher stake than a single accumulator
- →Risk spread across multiple bets
💡Risk vs Reward Illustration
If each selection has decent odds, a patent bet can yield profits even if only one selection wins, whereas an accumulator would result in a total loss in that case.
Profit depends on the odds of each bet and the number of winning selections.
Complexity and Calculations in Patent Bets
Calculating returns for a patent bet can be complex because of the multiple combinations and different outcomes based on which selections win. Bettors need to account for singles, doubles, and the treble to estimate potential profits accurately.
- •Multiple bet types involved
- •Returns vary widely depending on winners
- •Manual calculations can be error-prone
Tools to Simplify Calculations
Using software or calculators can simplify these complex calculations. Tools like ArbitUp automate the process, helping bettors understand potential returns quickly and accurately.
- →Automated return calculations
- →Error reduction
- →Time-saving for multiple bets
💡Using a Calculator
By inputting your stake and odds into a patent bet calculator, you get clear breakdowns of potential outcomes and profits without having to compute each bet manually.
Automated by software such as ArbitUp.
Patent Bets Compared to Other Betting Strategies
Patent bets differ from other multiple bets like doubles, trebles, and accumulators by including singles. This difference decreases risk but increases stake. However, even with this spread, patent bets still involve uncertainty that arbitrage betting can eliminate.
- •Patent bets include singles, doubles, and a treble
- •Accumulators require all selections to win
- •Arbitrage betting guarantees profit regardless of outcome
Why Arbitrage Betting is Superior
While patent bets reduce risk by covering multiple outcomes, arbitrage betting removes risk altogether by placing bets on all possible outcomes across different bookmakers ensuring a guaranteed profit.
- →No dependency on specific outcomes
- →Profit locked in through differing odds
- →Tools like ArbitUp help find and calculate arbitrage opportunities
💡Patent Bet vs Arbitrage Scenario
A patent bet may yield profits if some selections win, but arbitrage betting ensures profit no matter what happens by exploiting odds differences across bookmakers.
Arbitrage profit calculation depends on odds and stakes but is always positive.
Practical Tips for Placing Patent Bets
When placing patent bets, it’s important to consider the odds carefully, manage your stake size, and understand potential returns. Using arbitrage betting can supplement your strategy by providing risk-free profit opportunities.
- •Choose selections with promising odds
- •Calculate total stake before placing bets
- •Consider mixing patent bets with arbitrage opportunities
- •Use tools like ArbitUp to analyze bets efficiently
💡Smart Betting Strategy
Combining patent bets on favorable selections with arbitrage betting can diversify your betting portfolio and increase overall profitability.
Use ArbitUp to automate complex calculations and find arbitrage bets.
Common Mistakes to Avoid
- ⚠️Ignoring the total stake cost leading to unexpected losses
- ⚠️Failing to calculate returns for all bet combinations
- ⚠️Selecting poor odds that reduce potential profit
- ⚠️Overlooking better alternatives like arbitrage betting for risk elimination
- ⚠️Manually calculating complex bet returns leading to errors
- ⚠️Assuming all selections must win to get a return
- ⚠️Not using available tools to simplify betting calculations
The Power of Arbitrage Betting
Arbitrage betting eliminates guesswork by guaranteeing profit regardless of outcomes through placing bets on all possible results at differing bookmaker odds.
- ✓Risk-free guaranteed returns
- ✓No dependency on specific selection outcomes
- ✓Simplified profit calculations with tools like ArbitUp
Get Started with ArbitUp
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IMPORTANT DISCLAIMER
This content is for entertainment and educational purposes only and does not constitute financial advice. Sports betting involves substantial risk. Only bet with money you can afford to lose. See our Terms of Service for complete legal disclaimers.