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.