So, what is a patent bet?
A Patent Bet is a bet that consists of three selections that are rolled up into seven bets, three singles, three doubles and a treble. A patent bet is a great way to cover a bet when you are backing selections at slightly longer odds as you can still get a return if only one of your three selections wins.
Patent bets became popular with horse racing punters as they could back three horses at longer odds and get a return if one won and a really good return if two or all three of them won. Football punters are now getting more use out of patent bets due to the increase in popularity with longer odds betting.
A patent bet is considered a full cover bet as each of your selections is covered as three singles, three doubles and the treble.
Patent Bet Composition
What is a patent bet made up of?
You have three selections in a patent (1,2,3), below you can find a breakdown of how the bets are covered:
Singles: 1, 2, 3
Doubles: 1+2, 1+3, 2+3
As a patent consists of seven separate bets, if you were to put £10 on, your total stake would be £70 (£10 x 7).
What Is A Patent Bet Good For?
Due to the patent bet being broken into seven bets it is more useful for backing selections that are at slightly longer odds, as you can then get much of your stake back if only one of your selections wins.
The most common uses for them in football betting would be for backing Correct Score bets or Both Teams To Score & Win bets as they tend to offer up longer odds that make this type of bet more appealing. What makes patents exciting bets is that if you do land all three then you can expect a very strong profit.
Patent Bet Example
As an example of a patent bet, lets imagine that you have backed Sunderland, Chelsea & Southampton all to win 1-0 and each selection has odds of 7/1 (8.00).
In this example you have placed £10 on the patent so your total stake is £70.
If only one of your selections wins, your bet returns £80 (£10 x 8.00) so your bet returns a £10 profit.
If two of your three selections win then you win one of your doubles. If you multiple the odds of those two selections, in this case 8.00 x 8.00, you get odds of 64.00 for the double X your £10 on that bet means you get £640 back and make a £570 profit on your bet
If all three of your selections win then you win all three of your doubles (£640 x 3 = £1,920) and you win the treble which in this case is at odds of 512.00 (8.00 x 8.00 x 8.00), so your £10 on the treble returns £5120. Add this to the return you got on your doubles and you have £5120 + £640 = £5760 return from your £70 bet…. Which is £5690 profit.
Hopefully this article has helped you with your understanding of what is a patent bet.