A Patent consists of seven bets, all of equal value, on three separate events and it breaks down into three singles, three doubles and one treble.
You only need to make one correct selection to get a return. If you are able to make any more correct selections, your returns will jump because of the doubles and trebles included in a Patent.
Patents are most commonly associated with horse racing betting and could be perfect to use throughout the five days of racing at Royal Ascot.
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How does a Patent bet work?
The seven bets of a Patent cover your three selections as follows:
Check out the latest free bets to use on this week’s sporting action.
Why should I place a Patent bet?
If you have picked three selections in different events and you fancy each of them to win, a Patent is a really simple way to include multiples that ensure a large return if two or three of your selections win. With 35 races throughout Royal Ascot, including eight Group 1 contests, there are plenty of opportunities to place a Patent bet.
Drawbacks of a Patent
The one complaint with a Patent is that you have to have the same unit stake for all seven bets.
As a result, it is not possible to employ your own staking strategy when placing a Patent. For example, you may wish to place a higher stake on the singles and doubles than the treble, because the singles and doubles have a greater chance of coming in and the treble has far greater odds.
How to work out Patent bet winnings
The easiest method is to use our Patent bet calculator. If you want to do it yourself, follow the steps below:
- If you’re using fractional odds convert them into decimal odds by dividing the top number by the bottom and then adding one. (For example, 2/1 becomes 3.0 and 9/4 becomes 3.25.)
- Single bets: decimal odds x stake = return (including stake)
- Doubles: selection one odds x selection 2 odds = return (including stake)
- Treble: selection one x selection two x selection three = return (including stake)
How does an each-way Patent work?
An each-way Patent is one in which every bet is each-way. As a result it includes a total of 14 bets. The total stake for an each-way Patent is double that of a standard Patent.
There are some great benefits to an each-way Patent, with a payout for every horse that places as well as every runner that wins their race. This could be a good option for Royal Ascot where you may be able to find some value in horses at high prices among the big fields.
When placing an each-way Patent it makes sense to include selections for which the place payout of an each-way single is at least equal to if not more than your original stake.
Bookies usually pay around 1/5 of the win odds for the place part of racing each-way bets. As such a £1 each-way bet (costing £2) on a 5/1 horse pays out at evens if your horse places, meaning your return would be your £1 profit, plus the returned £1 stake for the winning place bet.
What is the difference between a Patent and a Trixie?
A Trixie bet is similar to a Patent in that you will be making three selections.
The key difference is that the Trixie doesn’t include single bets and comprises just four bets as a result: three doubles and a treble.
You might favour a Trixie over a Patent in a situation where you have three selections at short odds, as the returns from the single bets would only be a relatively small amount.
A Trixie saves you the stake from the three single bets, potentially allowing you to place a higher unit stake across three doubles and a treble.
Can you place a Patent bet on Royal Ascot?
On all five days of racing at Royal Ascot there are seven races so there are plenty of opportunities to place a Patent bet.
It should be very straightforward to place a Patent bet as all of the biggest and best bookmakers in the UK will have the option ahead of and during the festival.
There are eight Group 1 Flat races at Royal Ascot, including the prestigious Gold Cup and Queen Elizabeth II Jubilee Stakes, so your Patent bet could incorporate these big races.
Find out more about horse racing betting
Visit our horse racing betting section for more straightforward guides to betting on racing including:
- What does an each-way bet mean and how does it work?
- What is a Lucky 15 bet and how does it work?
- What is a Yankee bet and how does it work?
- Rule 4 in horse racing betting: the deduction explained
Looking for expert racing predictions and football predictions?
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