Sports betting is one sector which is continuously seeing evolution and innovation within its industry, with this being more evident than ever when considering the shift to an online space betting has seen. As a result of this, there has been a whole collection of betting options springing up in recent times, mainly due to the new technology online bookmakers now have at their disposal. One of the newer betting options is the patent bet, with this being similar to an accumulator due to its multiple selections.
However, this has some alternative features, working similar to the popular Lucky 15 and Trixie type bets which have established themselves. In order to understand how a patent bet works, we here at OddsMonkey, have developed a patent bet calculator which can allow you to determine any potential returns of the selections you have chosen.
What is a Patent Bet Calculator?
Like many other betting calculators, the patent bet calculator allows bettors to work out any potential returns a bet may yield, with it specifically relating to patent bets. Put in the most simplest of terminology, a patent bet is a betting option which comprises 3 different selections which are compiled into one singular betting slip. However, unlike a triple bet, these legs are actually divided up to a number of different bets with these including 3 singles, three doubles and one treble.
Unlike a treble, if one selection lets you down, the bettor could see some form of return thanks to the various outcomes the patent bet covers. However, the more selections that win, the higher the potential payout could be. As a result of this, this is where the patent bet calculator comes in extremely useful. All that is required in order to calculate potential returns are 3 simple details.
The first of these is the stake of the bet, which relates to the amount of money that is being placed on the selections. Next is the odds of the legs, with these being able to be input in a number of odd metrics, whether that is fractional, decimal, or even american. If you need to convert these odds, we even have an odds converter tool here at OddsMonkey. The final pieces of information required for the calculator is the result of each leg. There are a number of options that can be selected here, with the main ones including referring to either a win, loss or voided outcome. However, if you have horse race selections within the patent bet, there are also each way and place option to select if they are applicable.
Why use a Patent Bet Calculator
Now that we have broken down what exactly a patent bet calculator is and how it works, we can now discuss the numerous benefits that it could offer for your betting experience. One of the main reasons many people utilise this tool is that it allows bettors to quickly and easily calculate any potential returns their patent bet could return. If you are newer to sports betting, this can be extremely helpful as it allows you to make a more informed decision regarding your bet. Similarly, using the patent bet calculator could also help to reduce risk when placing the corresponding bets.
Who can use the Patent Bet Calculator?
One of the most beneficial things about the patent bet calculator is that it can be utilised by a whole host of different individuals. This encapsulates both casual bettors who are new to the world of online bookmakers, as well as more experienced bettors who may have more insight into the selections they are placing on their bets. However, if you are someone who is particularly interested in placing multiple bets on a singular slip, this could help you calculate any potential returns before you even place the bet, as well as determining alternative returns should certain selections let you down.
More Betting Calculators at OddsMonkey
At OddsMonkey, we offer a whole host of alternative calculators you could utilise, each of which correspond to various betting options. One of the most popularly utilised forms of bets is the accumulator, and consequently, we have an accumulator calculator on site. Although this is also multi-legged like a patent bet, this betting option doesn’t offer cover should one of your selections let you down. However, due to multiple odds being combined into one betslip, these bets tend to have higher odds than regular singles and doubles.
On the other hand, should you be the type of bettor who likes to make the most out of promotions and offers that bookmakers give out, the matched betting calculator could be an extremely useful tool. Matched betting simply refers to covering all outcomes of an event in order to lock in profit, and more often than not, bonuses and free bets often work their way into this process. This could also be a great tool in order to identify good value bets as various bookmakers are likely to have differing odds on their respective sites.