Patent Bet Calculator
I am always looking at the best way of placing my bets and whilst the majority of these are win singles, I do like to combine these quite often into small multiple bets.
You can of course select quite a number of horses in some miltiple bets such as a Heinz, Super Hienz, Goliath and Union Jack etc.. and whilst these will pay out an absolute fortune if you select a number of winners, the stakes you need, due to the total number of combinations, means you are more than likely to only be placing 5p or 10p on each bet.
This makes it a great fun bet for those who like a Saturday flutter but for those who are seriously looking to back winners and make a solid profit, it makes sense to reduce the number of bets you include in a multiple.
The three that stick out for me if I am looking to a multi bet are a Yankee, a Trixie or a Patent bet.
A Yankee is four selections and eleven bets which include, six doubles, four trebles and a fourfold accumulator.
A Trixie is three selections and four bets which include three doubles and a treble.
A Patent is also three selections and is the same as a Trixie but has three single bets as well, so a total of seven bets overall.
It can depend on what sort of prices you like to bet on as to which one of these you choose but with the Patent bet also backing each selection as a single win bet which the other two don't, I much prefer the Patent to the others.
It is hard to pick winners in reality and to have to rely on getting two winners as a win double to get a return may put a number of people off the Yankee or the Trixie, whereas with the patent you are still in with a chance of a return if your first two bets lose.
Getting the most from your Patent bets.
The normal way of placing a Patent bet is with a traditional bookmaker, selecting the three horses early and paying the full stake amount as you place your bet.
A Patent bet is seven bets in total, so for £3 on each bet that would be a total of £21 outlayed.
You can take BOG prices at most bookies even if many are not allowing these the evening before racing anymore, but you could be getting much better prices on the betting exchanges, even better than BOG prices, especially if your selections are decent prices.
However placing a Patent bet is not very easy on the exchanges and that is why I have created this Patent Bet Claculator.
Patent Bet Calculator
This calculator, which does require Excel to run correctly, allows you to:
1. Place your bets at different times of the day, or even the week.
2. Place your bets using the betting exchange and benefit from the better prices available on most occasions.
3. Calculate your next stake for each selection automatically, including any commission paid, depending on whether the previous selections won or lost.
4. Lets you amend the stake on the last horse depending on your current position to allow a better overall profit.
5. Place your three bets using different bookmaker accounts and lessen the chance of having your bets restricted or even closed if you continue to be successful.
Points 1 and 2 above are fairly straightforward, although I should reiterate that using this you can spread your three bets out over a preiod of days so. So if you have a very selective betting system that only produces five or six bets a week, you can place these when you need to and benefit from being able to bet doubles and a treble as well to increase your profits.
Point 3 just makes it so simple to see what your next bet amount will be, because if you tried to work this out manually it is odds on you would be placing the wrong amount or at best be very confused indeed!
Points 4 and 5 are worth looking into a little more details.
For an example of number 4, take a look at the image below, where we are using £3.50 stakes, a 5% commission rate and have already had a winner on the first bet at 4.5 and a loser on the second at 8.5.
Please note; All prices that you input must be in decimal format, minus 1. So 5.5 on the exchanges would be input as 4.5. This is all clearly explained on the rules tab when you download the calculation sheet.
So you can see by looking at the Returns and Profits table below that before we place our third bet, we have put in the odds of the third selection and if only horse A wins, we are looking at an overall loss of -£6.04.
You can also see where it says that if both horse A and C win we stand to win a decent £141.11, after 5% commission.
Now look to the left hand side under Staking and you can see that because Horse A won and Horse B lost, the stake on the third horse has automatically been calculated to be £21.96.
However, what you can do now is adjust that stake so that you win a little less if the third horse wins, but remove any chance of a total loss by reducing the stake.
So if you take £6.50 off the £21.96 for example you will at least more or less break even if it loses but still win a decent amount if it wins. If you place your Patent bet as normal with the bookmakers you do not have this control over any of your stakes.
There may also be situations where the first two horses have won and you can dramatically change your last stake or even not bet on the third horse at all and keep all of the profit you have made on the fisrt two.
The ability to hide your bets from your bookie
This final point is an extremely important one in this day and age where people are getting their bets restricted or even closed after just one or two decent wins.
If you are placing your bets as normal with any bookmaker, they can see exactly what you are doing and can monitor your betting account very easily indeed.
Using the calculation sheet above you can place all three bets with different bookmakers, rotating which accounts that you use, so for all intents and purposes it will seem like you are placing random win singles bets.
You may want to round your bets up or down a little so you bet £22 or £25 instead of betting £21.96 so as not to alert suspension on your betting activities.
If you are betting using the exchanges then you will have no such issues and as mentioned before, you can set your own commission level on the sheet and all profits are calculated for a reduction in commssion before the next stake is calculated.
Take a look at a short video
Benefits of the Patent Bet Calculator
So this Patent Bet Calculator will benefit you in many ways and help you win more and lose less over time.
- 1. Place your bets at different times of the day, or even the week.
- 2. Place your bets using the betting exchange prices rather than at the bookmakers.
- 3. Calculate your next stake for each selection automatically, including any commission paid, depending on whether the previous selection won or lost.
- 4. Lets you amend the stake on the last horse depending on your current position to allow a better overall profit.
- 5. Place your three bets using different bookmaker accounts and lessen the chance of having your bets restricted or even closed if you continue to be successful.
Download your copy of the Patent Bet Calculator
If you would like a copy of this item for just £10, click the button below.
You will need a version of Excel to use this item and there are two versions included in this package.
One has the 'Clear Cells' button as you can see on the video, which means that the excel sheet contains Macros which is an automated function that clears the cells automatically. Some versions of excel may not allow these or you may have Macros disabled.
The other sheet does not have this button, but you can still clear the cells manually using the delete button on your keyboard.
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