Understanding Different Types of Bets: Singles, Parlays, and System Bets

When placing bets, you have the option to choose between three distinct types: single bet, multi bet (parlay) and system bet.

1. Single bet:

A single bet allows you to choose a specific market or event and bet on it. Calculating your potential winnings is simple, involving your stake and the odds at the time you place the bet. If your prediction turns out to be correct, you will receive winnings based on the odds and the amount you bet.

2. Parlay bet:

A multiple bet, also known as an accumulator bet or combination bet, offers an interesting way to combine multiple selections into a single bet. In this type of bet, you select more than one outcome, and all of the selections chosen must be correct for you to win the bet. Winnings in a multiple/combined/cumulative bet are determined by multiplying the individual odds of each selection together, along with your stake. Due to the cumulative nature of this bet, the potential winnings can be higher than single bets. However, keep in mind that if one of your selections is incorrect, the entire multiple/combined/cumulative bet will be lost.

3. System bet:

System bets are more versatile compared to multi/combined/cumulative bets. They involve the combination of three or more markets, just like multiple/combination/cumulative betting. However, the significant difference is that system bets can still win, even if not all selections are correct, depending on the type of system chosen. When placing a system bet, you have the option to select a specific system, such as "Yankee" or others, on the betting slip. The system you choose will determine the number of combinations formed from your selections. This means that even if some of your selections are incorrect, you can still win a portion of the bet, depending on the system and the correct selections you made.

For example, if you opt for a "Yankee" system and have four selections on your betting slip, your stake will be distributed among several bets covering different combinations of these selections. If at least two of the four selections are correct, you will win a share of the bet, and your winnings will depend on the number of correct selections.

So, when placing bets, you can choose between single bets for simple picks, multiple/combined/cumulative bets for higher potential winnings but with all selections having to be correct, or system bets for a more flexible approach that allows for some incorrect selections, while still offering the chance to win.

Consider your strategy, risk tolerance and understanding of the events you are betting on, before choosing the type of bet that best suits you.

Was this article helpful?
7 out of 12 found this helpful

Articles in this section