UK Horse Betting Types
Trixie
A Trixie consists of 4 bets involving 3 selections in different events, i.e. 3 doubles plus one treble.
Patent
A Patent consists of 7 bets involving 3 selections in different events, i.e. a single on each selection plus 3 doubles and a treble.
Yankee
A Yankee consists of 11 bets involving 4 selections in different events, i.e. 6 doubles, 4 trebles and one four-fold.
Lucky 15
A Lucky 15 consists of 15 bets involving 4 selections in different events, i.e. 4 singles, 6 doubles, 4 trebles, and 1 five-fold bet
Super Yankee
A Super Yankee consists of 26 bets involving 5 selections in different events, i.e. 10 doubles, 10 trebles, 5 four-fold, one five-fold.
Heinz
A Heinz consists of 57 bets involving 6 selections in different events, i.e. 15 doubles, 20 trebles, 15 four-folds, 6 five-folds, and one six-fold.
Goliath
A Goliath consists of 247 bets involving 8 selections in different events, i.e. 28 doubles, 56 trebles, 70 four-folds, 56 five-folds, 28 six-folds, 8 seven-folds, and one eight-fold.
The obvious conclusion is that the more horses you choose the more different ways there are of combining them.
Extreme caution is advised - bookmakers promote these bets heavily as they are very profitable for them. Why? Because so many lose.
The Tote
The Tote is a method of wagering in which the odds agaist you are not fixed. This is known as pool betting and in the UK is largely run by an organisation called The Tote. In pool betting the amount paid out is dependent on two factors, how many people have bet and how many have picked the winner. All the money is paid into the pool, a duduction is made of 10% by the organiser and the remainder is divided between the winners.
The Tote also offers a couple of specialist bets which are of interest because they pay big dividends to small initial stakes.
Tote Jackpot
Select the winners of the six races at the daily nominated jackpot meeting. A dividend is declared at the end of the racing and payouts can be huge.
Tote Placepot
Select a placed horse in the first six races at any of the days racemeetings. A dividend is declared at the end of the racing.
Tote Quadpot
Select a placed horse in the last 4 placepot races at any of the days racemeetings. Dividends are usually smaller than the placepot, but not always.
Ante Post Bets
One other type of bet is the ante-post bets (literally before post). For all the major races of the calender, that is the Classics, Grand National, The Championship events at Cheltenham, and major handicaps. The major bookmakers will lay odds well in advance of the race.
The advantage of betting months before an event is that you are likely to get a better price than what it will start on the day. The major disavantage is that should your horse not take part, your money is lost.
Rule 4 Deductions
These are made when a horse is withdrawn or is unable to compete for any reason without coming to starters orders, but after the bookmakers market had been formed.
The amount deducted is based on a fixed scale which is dependent on the price of a horse in the market at the time of withdrawal.The amount of deductions range from 75p in the £ deducted for odds of 3/10 or shorter, to 5p in the £ for horses with odds of 14/1. Above 14/1 the liability would be unchanged. In the case of 2 or more horses being withdrawn, the total deductions shall not exeed 75p in the £.
The principle here is that if a short price favourite is withdrawn, then the chances of the result being dramatically different are greater and the deduction is the greatest.