Monday 4 November 2019

Multiple Bets

In the days before the abolition of off-course betting tax in the early years of the twenty-first century, a multiple bet, typically in the form of a double, on two short-priced selections, was a legitimate way for horse racing punters to avoid paying tax on the second selection. Of course, betting tax is long gone, but multiple bets, in the form of doubles, trebles and accumulators, remain a carrot that bookmakers dangle in front of small-stakes betting shop and armchair punters.

The prospect of a large, possibly colossal, return for a small initial outlay is undeniably attractive. Nevertheless, punters should remind themselves that they are betting at multiple odds, in the first place, and be prepared for losing runs consummate with the odds attempted. Winners will often go astray and control over the ebb and flow of any betting bank will be diminished, at least to some extent. Those following horse racing at YesBets and the like, can also take advantage of free bet offers, of 'best odds' recommendations to tip the balance and the odds further in their favour

Of course, a multiple bet must be placed with a single bookmaker, so punters are limited to the prices offered by that bookmaker, rather than having the pick of the market prices, as would be the case with a single bet. Many bookmakers now offer ‘best odds guaranteed’ on most, if not all, horse races in Britain and Ireland, which means that pricing is less of an issue than it once was. Even so, a difference of half a point, or even a quarter of a point, in the price of any selection(s) can make a huge difference to the total return once multiplied throughout a bet.

From the bookmakers’ point-of-view, multiple bets are an excellent money-spinner. Double, treble or even five times the odds for a single winner in popular multiple bets, such as the ‘Lucky 15’, ‘Lucky 31’ and ‘Lucky 63’, has become the norm, as have bonuses of up to 25% on all-correct versions of those and similar bets. By contrast, single win bets are the bookmakers’ biggest loser, which is why you rarely, if ever, hear anything about them in advertisements and press releases.

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