A Patent bBet is a very popular bet type that you can use to place your bets on a variety of sports. It is most commonly used for betting on horse racing events, but you can place these bets on many other sports, too. Read up to learn more about this bet, the returns, Patent Bet calculators, and a Permutation Patent Bet.
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Types of Patent Bets
A Patent Bet consists of seven bets placed across three different selection. These are three singles, three doubles and one treble. So, if at least one of your selections is a winner, you are entitled to your return from a sportsbook.
A patent horse bet is extremely popular among punters, as betting on horse races can be quite unpredictable, to say the least. However, the odds might still work in your favour so that you can make a profit if only one of your selections wins.
A permed patent is a variation of this bet, but it is significantly larger. This bet entails between four and six selections, meaning that you can create as many as 28 bets. A perm Patent Bet calculator is an extremely useful tool when you are in need of a precise and quick calculation of your potential returns.
Patent Bet Explained
Let’s say that you want to place a Patent Bet on horse racing. You need to select three horses that you believe are going to win. And for the sake of our example, let’s say that all of them are given the odds of 5/1. This means that all of the doubles will have the odds of 35/1, whereas trebles would be 215/1.
If you want to place £1 on each bet, this means that you would stake £7 in total. Now, we would advise you to use a patent calculator to work out your potential returns and profit accurately and quickly. It would show you that you would receive a total return of £342, and your total profit would be £335.
How to place a Patent Bet: A step-by-step guide
Placing this bet is very simple. Here’s how you can do it.
- Choose your seven possible outcomes.
- Create your selection by selecting the available price.
- Enter your stake.
- Select whether you want to make an each-way patent.
- Confirm your bet.
How to convert odds: An Example
Different bookmakers prefer displaying different odds types. Typically, they feature the option of selecting your preferred odds. You can select whether you prefer fractional, decimal, American, or implied probability.
The fractional odds of 3/1 show you that for every £10 you bet you can get £40. Decimal odds already have the stake included in the winnings, so the odds of 4.00 (which equal 3/1) mean that you would get a return of £40 for staking £10. This means that your profit would be £30.
How to use the Patent Calculator?
Using both a patent and a perm bets calculator is really easy. It helps you calculate your potential returns quickly and accurately. All you need to do is the following.
- Opt for each-way patent or not.
- Enter your three selections and their odds.
- Enter your desired stake.
- Take a look at your total return and total profit.
Find a Patent Calculator here.
We’ll end this article by answering a couple of the most common questions about this bet type.
How do I calculate returns for the Patent Bet?
The easiest and most practical way is to use a patent calculator. You can find more info about how to use it in our article above.
What’t better: Trixie or patent?
A Trixie bet is similar to a patent, so many people confuse the two. It contains four bets, three doubles and a treble, but it does not have any singles. This means that you would need at least two winning selection, whereas in a Patent Bet you need only one.
See all the main bet calculator here.