What is a flag bet?

A flag bet is a full cover, combination bet akin to the ubiquitous ‘Yankee’ insofar as it covers four selections, participating in four different events, in six doubles, four trebles and one four-fold accumulator. However, while a Yankee consists of eleven bets, a flag also bundles together six pairs of ‘if cash’ or ‘any-to-come’ wagers, known as ‘single stakes about’ or ‘up-and-down’ bets, to make a total of twenty-three bets.

Of course nowadays Online Bookies, not just ‘bricks and mortar’ establishments offer a myriad of ways to place a bet, be it single, multiple and so on. Also options such as ‘cash out’ are sometimes available actually during a live event allowing you to take the money and run, as they say. Or alternatively see the bet out if you have enough confidence in your selection.

Each single stake about bet is a wager on two selections, in two different events, and consists of two single bets. Thus, for four selections, A, B, C and D, a flag bet includes single stakes about bets on AB, AC, AD, BC, BD and CD. For the sake of simplicity, consider just the selections A and B; if selection A wins, the return on the single bet is used to fund an additional single bet, up to the original stake, on selection B, and vice versa. Of course, if either selection loses, the return on the original single bet is zero, so the additional single bet on the other cannot be funded, and both original stakes are lost. If both selections A and B lose, the return from the single stakes about bet is zero.

What types of bet are there in horse racing?

Horse racing offers a plethora of different types of bet, ranging from the simple to the fiercely complex. The simplest bet is a straight win single, where you place a bet on a horse to finish first in a race; if it does, you win and, if not, you lose. Slightly more complex is a win and place, or each-way, bet, where you place a bet on a horse either to win or to finish placed, according to the ‘place terms’ of the race in question. An each-way bet is effectively two bets in one, so requires double the stake of a straight win single. The place portion of the bet is paid out at a fraction of the win odds, typically 1/5 or 1/4, if your selection finishes in the first two, three or four places, depending on the type of race and the number of runners.

Of course, it is also possible to combine your selections in ‘multiple’ bets, such as doubles, trebles and accumulators, which require two, three or four or more to win or, at least, be placed, in the case of each-way multiple bets, to guarantee. Bookmakers offer a selection of multiple bets, which are known by names such as ‘Yankee’, ‘Canadian’, ‘Heinz’ and so on, depending on the number of selections and the total number of bets required to cover those selections. Other, slightly more exotic, horse racing bets include forecast and tricast betting, in which you attempt to predict the first two, or three, horses home in any race, in the correct order or any order.

What is a multiple bet?

In the context of horse racing, a multiple bet is a bet in which a single stake is placed on two or more selections, win or each-way, in two or more different races. Any returns from the first selection are staked on the second selection – in the case of an each-way multiple bet, on a win-to-win and place-to-place basis – and so on.

A multiple bet involving two selections in two different events is known as a ‘double’, a multiple bet involving three selections in three different events is known as a ‘treble’ and a multiple bet involving four, or more, selections in four, or more, different events is known as an ‘accumulator’. In each case, all of the selections must win – or, in the case of an each-way multiple bet, at least be placed – in order to generate a return.

However, it is also possible to place a ‘full cover’ combination or permutation bet which, as the name suggests, combines all the multiple bets – that is, doubles, trebles and accumulators – for a certain number of selections. Popular bets of this type include the ‘Yankee’, which combines four selections in six doubles, four trebles and one fourfold accumulator, making 11 bets in total, and the ‘Super Yankee’, or ‘Canadian’, which combines five selections in ten doubles, ten trebles, five fourfold accumulators and one fivefold accumulator, making 26 bets in total.

What are different types of bets?

The simplest type of bet is a single win bet, in which you wager a certain amount, known as your ‘stake’, on a single selection, which must win for you to make a profit. If horse wins, you receive winnings equal to your stake multiplied by the winning odds, plus your stake back. If the horse does not win, you lose your stake in its entirety.

Alternatively, an each-way bet is, in effect, two bets, one on a selection to win and another on the same selection to finish placed or, in other words, second, third or fourth, depending on the ‘place terms’ offered on the race in question. Standard place terms are, for handicaps with 16 or more runners, one-quarter the odds for the first four places, for handicaps with 12-15 runners, one-quarter the odds for the first three places, for all other races with 8 or more runners, one-fifth the odds for the first three places and, for all races with 5-7 runners, one-quarter the odds for the first two places. If your horse wins, both your ‘win’ and ‘place’ bets are winners, if the horse does not win, but is placed, your ‘place’ bet is a winner and if the horse is unplaced, both bets are losers.

If you want to bet on more than one horse in more than one race, you can combine your selections in win, or each-way, doubles, trebles and accumulators. In the case of a double, both selections must win, or be placed, to guarantee a return, in the case of a treble, all three selections must win, or be placed, and so on. Combination, or multiple, bets of this type are inherently more risky than win or each-way single bets, but do offer the potential of a huge return for a small initial outlay.

Aside from these basic types of bet, bookmakers also offer a whole host of ‘exotic’ bets, such as forecast and tricast bets, which invite you to attempt to predict the first two, or the first three, horses home in certain races. Once again, these bets offer the potential for a huge return, but involve betting at multiple odds, so the bookmakers are giving nothing away.