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## THE SIMPLEST BETYou can bet on almost anything, but to show how the numbers work, we'll start you off with the very simplest bet. We'll toss a coin and call "heads" or "tails". There are two possible outcomes "heads" or "tails" and an equal chance of either coming up. Therefore if you call "heads" your
If you wanted to bet on the outcome, you need to know the
The odds are a fraction or a decimal which shows how much money you would win if you're right. You're going to put your bets on with Charlie, and if he was going to be totally fair he would offer odds of 1/1 on either heads or tails coming up. Odds of 1/1 are also known as ## Remember - the odds fraction is not the same as the chance. It represents:(the amount you win) / (the amount you bet) Suppose you bet $10 that heads comes up. You start by giving Charlie your $10. - If you WIN then Charlie gives you $10
*plus your stake money back*. So Charlie passes $20 over. You end up with $10 more than you started with. - If you LOSE then Charlie keeps your $10.
If the odds are 1/1 then over time you should win as much as you lose, so Charlie will never make a profit. That's no good! Charlie needs to pay for that nice suit he's wearing, but you'll see how Charlie makes his profits later. Are you keen to try your own luck with a little bet? To get the most out of your starting bankroll here is an example of how a 100% deposit match bonus works. ## DIFFERENT ODDSNow let's look at something more interesting.
There are six pool balls in a bag, three
* If you bet on the If you bet $10 on the ## To work out what you should get back from fraction odds, add 1 to the fraction and multiply by your stake.
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## MULTIPLE BETS:## The TRIXIE
To win a treble bet, all your selections must win. However, wouldn't it be nice if you still got a payment if one of them lost? You can do this with a trixie bet. This is four bets in total, comprised of three double bets and one triple bet. As this is four separate bets and you've put $10 on each, in total you're placing $40. If any two teams win, you'll get something back, although you won't quite cover your $40 outlay. However if all three teams win, then all four bets will pay $148.85 - a profit of $108.85!
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## The PATENT
The Patent bet is like a Trixie, but you also have a bet on each individual team winning, so that's three more bets making seven bets in total. So long as at least one team wins, you'll get something back, but with these odds you won't make a profit unless all three teams win. Therefore a Patent isn't usually worth it for football where only two teams play, but horses usually offer much longer odds which make a Patent worth considering.
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## ACCUMULATOR BETSIf you bet on four or more results (all different events), this is an accumulator. Betting on four horses all to win is known as a 4-fold accumulator. One small bet can give a very good return, but all your selections have to win! ## PASCAL'S TRIANGLEWhen you're considering multiple bets on four or more horses, it's handy to know about Pascal's Triangle. There are a row of 1's down each side, and each number comes from adding the two numbers above it. (E.g. the number 10 comes from adding 4+6.) When you looked at the Patent bet, you were considering three selections, so look along the horizontal line indicated with the 3. The red lines show us that your Patent bet had three singles, three doubles and one treble. ## The LUCKY 15 and the YANKEEIf you want to choose As the single bets don't pay as well as the multiple bets, people often don't bother with them. Instead they would just bet on the six doubles, four trebles and the 4-fold. This is 11 bets altogether and is known as a ## The LUCKY 31 and the CANADIANIf you want to choose ## The LUCKY 63 and the HEINZ
If you want to choose (Heinz always advertised itself as having "57 varieties". This was never the truth, their founder Henry J. Heinz just thought it was a nice catchy number!) Just for interest, let's look at a Heinz bet and see what you might win. We'll compare four sets of results A,B,C and D to see what happens with 2,3,4 and 6 winners.
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It may look tempting to place $57 and to hope for a huge profit - but don't forget that a lot of people bet on Yankees every day and if anyone ever wins, you'd usually hear about it in the news. How often does that happen?
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## The SUPER HEINZNow you pickseven selections. You don't bother with the singles, but that still leaves you with 120 bets including doubles, triples, 4-folds, 5-folds, 6-folds and the 7-fold bet.
## The GOLIATHWhat can you say? You pickeight selections. Forget the singles, the total number of other bets is 247!
Of course you can make as many selections as you like, so thank goodness we've got computers to work out the winnings. Imagine working out 247 bets when the odds are all different such as 5/4, 7/1, 14/1, 9/2, 13/8 and so on. Some bookmakers even let you choose each-way bets in with the multiples. The sums can be awesome.
## The UNION JACKThere are hundreds of different betting variations and combinations, so we'll just look at one more.Suppose you're going to follow Call the horses A,B,C etc, and see how we've marked them on the Union Jack. Using the crosses and diagonals on the flag, the horses are linked in sets of three with eight straight lines. These lines give you - As horse E features in four bets, this should be your favourite pick.
- Horses A,C,G and J feature in three bets, these should be your next choices.
- Horses B,D,F,H only appear in two bets each, so these should be your weaker choices.
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## Betting on EVERYTHING!You have to be careful not to get carried away. The trebles in the Union Jack bet are only 8 of the possible trebles available, so if e.g. horses A,H, and F won, you'd lose. If you wanted to bet on ALL the possible trebles for nine horses, there are 84 of them! Each way bets are also popular, but they are just a way of spreading your money to lose less and win less. Of course the silliest thing to do is to bet on both teams in a match, or every horse in a race. Obviously you'll get some money back, but there's only one person who is sure to benefit... | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||

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There are more stats and facts about games here:
Craps - How to play, Chances and Payouts Blackjack - Hit, Stand, Double Down or Split? The Betting Guide - and how to work out the Bookie's profit! The Roulette Wheel ... and how to worry the casino! The One-Armed Bandit Slot Machine |