A Patent bet is a type of multi-bet where the punter places three different selections and seven bets on the system. A Patent bet aims to cover all possible outcomes and provides a return even if only one wager is profitable. Patent bets are prevalent in horse racing and greyhounds, and newcomers and experienced bettors favour the betting format.
The purpose of this Patent Bet guide is to provide you with a clear understanding of what Patent bets are, how they work, and how you can use them to enhance your betting experience in the future.
What is Patent Bet?
In a nutshell: A Patent bet consists of seven individual bets of equal value, each on a different event: three singles, three doubles, and one triple bet.
In contrast to more traditional multiples and accumulators, a Patent bet only needs one selection to hit for your bet to win. Compared with a single or a double bet, this type offers a broader range of possible outcomes and is, therefore, more comprehensive.
As kitchen terms explain, a horse racing Patent bet can be described as a recipe for a delicious meal. Just like a recipe specifies the ingredients and steps needed to make a dish, a patent bet involves combining a selection of individual horse races into a single bet to increase the potential payout. Like a recipe, the key to a successful Patent bet is to choose the right combination of ingredients (races) to create a winning outcome.
How does a Patent Bet work best in practice?
Let's see how Patent bet works in practice. Let's say you want to bet £5 per horse in a Patent bet. First is good to understand the total costs.
The total cost of a £5 patent bet would be 7 x £5 = £35. Here is how the price is calculated ->Patent bet includes seven bets: three single bets, three double bets, and one treble bet. Each of these bets would cost £5, making the total cost of the Patent bet £35.
Next, we have to look at the potential payouts in different scenarios:
The potential winnings for a Patent bet can be calculated by multiplying the odds for each selection and then adding the payouts for each bet together. For example, if you are making a patent bet with three selections, each with odds of 1/1 (2.00) and with £5 stake, the potential winnings for each choice would be calculated as follow Patent bet calculator indicates:
Singles:
Pick number 1: 2.00 x £5 = £10
Pick number 2: 2.00 x £5 = £10
Pick number 3: 2.00 x £5 = £10
Doubles:
Double 1 (Picks 1 and 2): 2.00 x 2.00 x £5 = £20
Double 2 (Picks 1 and 3): 2.00 x 2.00 x £5 = £20
Double 3 (Picks 2 and 3): 2.00 x 2.00 x £5 = £20
Triple bet:
Triple (Picks 1, 2 and 3): 2.00 x 2.00 x 2.00 x £5 = £40
The biggest potential payout for the Patent bet would be the sum of the payouts for each selection plus the payouts for each double and the triple. In this example maximum payout would be £130 (£10 + £10 + £10 + £20 + £20 + £20 + £40). In terms of profit, this bet would give you £95 profit in your account (£130 payout - £35 stake = £85 profit.)
Sounds easy, right? However, it's essential to keep in mind that this is only an example, and the odds and payouts can vary depending on the selections you make and the odds offered by the bookmaker at the time of the bet.
benefits of a Patent Bet
When you choose to implement Patent bets as a part of your horse race betting strategy, there are many advantages that you will be able to enjoy as a result.
Increased flexibility: With a Patent bet, the bettor can win even if only one selection wins, which is more flexible than with an accumulator bet, where every pick must win.
Increased payouts: Patent bets offer multiple payouts if more than one selection wins. Depending on the odds and the total bet, the payouts for each bet will vary, but the chance of winning multiple payouts will increase the potential payout.
Reduced Risk: Patent betting only requires one selection to win to earn a payout, so it's less risky than traditional accumulator betting.
Convenience: Patent bets can be placed quickly and easily, allowing the bettor to make multiple selections and bets with just one wager. If you are eager to bet on multiple races, this can be handy for those who don't want to make separate bets for each race.
Drawbacks of patent Bets
Increased cost: With a patent bet, the bettor makes multiple wagers, which can be more expensive than making a single wager. It can be a drawback for bettors on a limited budget who want to keep their betting expenses to a minimum.
Reduced potential payouts: The potential payouts for a patent bet are reduced compared to traditional accumulator bets because the bettor only needs one selection to win to receive a payout. It can be a drawback for bettors looking for the highest possible payouts.
Limited use: Patent bets are only available in specific horse racing betting markets and may not be available at all online sports betting sites. These can limit the opportunities for bettors to use this type of bet.
Complexity: Patent bets can be complex and may not be suitable for all bettors, particularly those who are inexperienced with horse racing betting or unfamiliar with the different betting systems available. It's wise to understand the odds and the potential payouts for each horse, as well as the rules of the patent bet, before placing a wager.
How to place a Patent bet in 4 steps
Find a bookmaker that offers the option to place Patent bets; for example, check out our list of betting sites below that provide Patent bet opportunities.
Choose the races you want to place a bet. In a Patent bet, you must select three different horses to back in three separate races.
Once you've selected your horses, go to the bet slip and choose the Patent bet option. Enter your stake and confirm your bet.
After you've placed your bet, you must wait for the races to finish. If all three of your selected horses win, you'll receive the winnings for each of the seven bets in the Patent bet.
Best sites for Patent bets
We at Bojoko aim to help you find the right betting site for your needs, which is why we have reviewed them in depth. The following UK sportsbooks are must-see choices for Patent bets, and they can be found at Bojoko along with all the best online bookies.
All the below-listed bookmakers are reputable, and UKGC licensed. The sites are technically safe and committed to the values of safe gambling. These brands also offer a wide range of horse racing betting markets and favourable odds. On our page about horse racing bookmakers, you can find even more sites like this.
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Patent bet and Trixie bet are popular among horse racing and sports betting enthusiasts, and most UK bookmakers provide these betting types. Patent bet is more suitable for experienced bettors because it is more complex and has bigger stakes. In contrast, the Trixie bet is ideal for those inexperienced with multiple bets and those who prefer to place smaller and simpler bets.
If you want to learn more about Trixie bet, we recommend you check out our comprehensive Trixie bet guide.
Patent Bet explained - FAQ
Patent bets involve placing seven bets on three selections in horse racing or sports betting. The bet includes three singles, three doubles, and one treble, so the bettor can win even if only one of the selections wins. A bet's potential payout depends on the odds of the selections and the stake amount.
The typical Patent bet consists of 7 bets covering 3 selections: 3 singles, 3 doubles, 1 treble.
To work out a Patent bet, you need to consider the following steps:
Choose your selections
Calculate your total stakes
Calculate the odds
Calculate the potential payouts
Place your bet!
A permed Patent bet is a type of multiple bet involving combining numerous bets into one. Instead of placing seven separate bets on three selections as in a regular Patent bet, a permed Patent bet allows the bettor to place several Patent bets in a permutation, increasing the number of potential winning combinations.
This type of bet will enable bettors to boost their winnings by combining multiple Patent bets into one bet but also increases the risk involved in the wager. The cost of a permed Patent bet can be pretty high as the number of bets increases.
A Patent bet consists of seven bets of equal value, each on a different event: three singles, three doubles, and one triple bet. Patent bet is a popular bet type in Horse racing and a well-used multiple bet type.
Greyhound racing patent bets are similar to horse racing patent bets. The bet consists of three singles, three doubles, and one treble. To win the bet, only one of the selections must win.
The Paten bet system in football works on the same principles as horse racing and greyhound betting. The bet slip consists of three singles, three doubles, and one treble. Due to the nature of the football match, the winner in these bets is selected from three games and two winning options.
Whether a patent bet is worth it depends on an individual's betting goals, betting style, and understanding of the system. Patent bets can be a good option for those looking to increase their chances of winning but not for those who prefer lower-risk, lower-reward betting options. You can calculate Patent bet payouts by using this formula.
Patent round-robin bet and basic Patent bet are similar in that they involve multiple bets with three selections. A Patent round-robin bet combines the three selections into multiple bets of varying sizes. In contrast, a Patent basic bet combines the three selections into seven separate bets, three singles, three doubles, and one treble.
Even if one of the selections wins in a Patent round-robin bet, the bettor still has the chance to get a return on their investment through doubles and trebles. In a basic Patent bet, if one of the selections wins, the bettor will only receive a return on investment from the single winning bet.
About the author
Article by:
Teemu Mattila
With a career starting in 2015, Teemu has an extensive background in content writing, collaborating with global companies in Finnish and English. Since 2021, he has been working with Bojoko, focusing on sports betting and casino content, combining his passion for sports and the iGaming industry.
