Understanding Multi Bets
This term is frequently found on the websites of online betting agencies. It may be referred to as an “all-in,” “parlay,” or “accumulator,” but they all perform the same function. However, most people refer to it as a “multi,” short for “multi-bet.”
How A Multi Bet Works
A multi-bet is essentially a single bet comprised of multiple single bets. Each wager becomes a leg of the multi-wager. For instance, if a bettor adds three single bets to a multi and the first bet wins, the winnings from the first bet are added to the winnings from the second bet.
If the second wager is successful, the winnings from the first and second wagers are combined and placed on the third wager. If the gambler wins a fourth time, the total amount wagered on all three wagers is returned.
Bet at odds of 1.40 on Horse A to win.
Horse B has a 2.60 percent chance of winning.
Horse C has a 2.20 percent chance to win.
The wager is $10.
If you win, your odds of winning will increase to:
1.40 x 2.60 x 2.20 = 8.008
The payout is $80, or 8.0 times $10. The wager was $10; therefore, the return is $70.
If each wager were placed and won independently, the payout would be significantly lower:
Bet 1: $14.00 – $10.00 = $4.00
Bet 2: $26.00 – $10.00 = $16.00
Bet 3: $22.00 – $10.00 = $12.00
Gain = $32.000
This is a simplified example; certain details may vary when dealing with various betting agencies. We’ll discuss them in greater detail below.
Variations and Differences
Multi-bets are not restricted to a single sport, game/event, or event type, such as halftime score, first goalscorer, final score, or under/over margins. They can certainly be combined. All Australian betting companies offer multi bets, but some do it better than others because they provide a wider variety of products.
Single multiples are limited to the number of legs permitted by the betting agency. The greater the number, the greater the risk and the greater the potential reward. This type of multiple wagers goes by various names. In this manner:
- A multi with two legs is also a double or a two-play parlay.
- Three wagers are a three-leg multiple, a three-play parlay, or a “Treble.”
- Four selections are a four-leg multiple, a four-play parlay, or a four-fold.
- Five distinct wagers are also known as a 5-leg multiple, 5 Play Parlay, or 5 Folds.
There are a few; let’s look at them
Your selections must win for you to advance to the next round. If one of your legs loses, the entire wager is lost.
Each Way Multi
Your wager will be used to determine the winner and runner-up. If your selection wins, you will receive both payouts. If your selection finishes second or third, the place dividend is returned and added to your wager. This type of multi-bet also increases the likelihood that your multi-bet will remain active for the subsequent leg.
Multi-Leg Multi Bet
This occurs when your multiple wagers have different legs that can win or place. The betting agency will set a maximum number of legs for this type of multiple wagers.
Some betting sites permit multiple wagers in which not all selections must win. Also known as “round robins” or “boxed multiples.” In a four-leg multiple, for instance, three of the four selections may need to win for the wager to be considered successful. Whereas the final leg may use a boxed selection with, say, four selections (called a three-leg multi x 4).
This is because the decisions made during the fourth leg can result in one of four possible outcomes. When a “3 leg multi x4” wager is placed, four “3 leg multi” wagers are placed, as indicated by the “x4” symbol. The first three legs are identical, but the fourth leg will vary depending on the selected boxed sections.
In addition, the price will be higher, as is typical of Boxed Selections. Never forget that! There is some science behind this, so we recommend contacting your preferred betting agency if you wish to learn more. Utilize their online Help or Customer Service telephone lines.
Due to the system’s complexity, it is likely beyond the scope of this article to explain how it operates. Not all betting agencies offer a wide variety of options. This could be the subject of a separate article.
Multi-Betting Across Sports
Multi-bets comprised of multiple single wagers are extremely common in horse racing. As demonstrated by the Multi-bet Example, there could be two or three options. You apply the identical logic to other sports as well. Additionally, you can include other sports and horse races in your multi.
- One can wager on NBA games (Team A to win, margin over 10).
- Bet on Horse A to win the race.
- Bet on Team A to win a Premier League game by two goals.
Same Game Multi’s
In Australia, it is now acceptable. I am aware that SportsBet offers this type of wager, but I am certain that others have followed suit since the Australian government gave its approval
Betting Agency Payouts
Each betting agency will have a maximum payout amount for multiple wagers. Reading the terms and conditions of your preferred betting agency, especially the fine print, is essential. The cap limit could conceal the fact that you could win a substantial amount.
Benefits of Multi-Bets
If you have a strategy, you may want to consider multi-bets if you weigh the cost against the potential return. As we have observed, betting on a single leg yields significantly lower returns than betting on multiple legs.
Yes, the risks increase as the number of legs increases, but to be fair, they do not decrease when betting on a single leg. You have, therefore, nothing to lose.
If you want to try this type of wagering, conduct some research on the online platform of your preferred betting agency, place a small wager, and observe the results.