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Betting plays a major part in the enjoyment of many sports and other entertainments. It adds to the involvement and excitement of an event for sure but really when we place a bet, we do so in the hope of getting a return on it greater than the sum we bet. There is a huge array of different betting options and it can be somewhat confusing deciding on the best option for any specific event. Multiple bets offer a way to bet on a series of events in one go and can increase our chances of a return. Lucky 15 is a multiple bet option which can be used to bet on four separate events and offers additional benefits besides. |
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Most people will be familiar with games of chance such as bingo or the national lottery. When we pay to play these games each outcome, or ticket, has the same probability of winning. Other forms of betting are based on an event which may have a series of outcomes, some of which will be more likely than others. Examples of these would be football matches and horseracing fixtures.
A bookmaker will ascertain a certain value for each outcome in such events and offer odds against that outcome. These are the fixed odds commonly associated with sports. A likely outcome will have shorter odds than one which is unlikely and the returns on any bet placed will reflect this. The returns on a Lucky 15 bet will be based on the odds for each of the 4 events and understanding how fixed odds works is necessary in order to make the right selections and to work out the returns.
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In the UK, odds are presented as fractional e.g 6/1, sometimes written and described as '6 to 1'. What this means is that the bookmaker believes an outcome with the odds of 6/1 will occur once in every 7 attempts, i.e. an unlikely event. So, when we place a bet at 6/1 we are betting against the likely outcome. In the case of a horse with a price of 6/1 to win a race, for every £1 we bet we will get £6 return if the horse wins. We also get the stake back and so will get £7 in total. At these odds and using the same stake each time we would require one win in seven to break even.
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In addition to 'odds against' there can be 'odds on', which is when the outcome is more likely than not. An example would be 1/6, often referred to as '6 to 1 on'. If these odds are true then the predicted outcome will occur 6 out of every 7 times. The returns on such a bet are low to reflect the high chance of occurring and for every £1 staked at this price, we would receive just 17p in return, plus our stake, totalling £1.17.
Fractional odds are unique to the UK, with other countries employing a decimal odds system. The decimal odds presented are really just the winning amount based on the initial stake and so using the above example, 6/1 expressed in decimal odds would be 7, and 1/6 would be 1.17. Although the fractional odds system dominates in this country, decimal odds are increasingly found too, most notably within digital betting machines.
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It is good to be familiar with both systems should you find you need to think in decimal odds at some point and this is particularly useful for placing multiple bets such as a Lucky 15. This bet is based on four distinct events, which may be a horse in four different races for example. As the name suggests there are 15 single bets within the multiple. These are 4 single bets, 6 doubles, 4 trebles, and 1 fourfold accumulator. This is known as a covering bet since it covers every permutation of those four separate events. |
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A Lucky 15 pays out in the event of any single or multiple part of the 15 bets winning. This is distinct from other multiple bets such as a Yankee which is the same as a Lucky 15 but without the 4 single bets. In that case at least 2 bets within the multiple must win to pay out. If any of the four single bets win then you get that payout determined by the odds for that single.
For the multiple components of doubles, trebles and the accumulator, all parts of that multiple must win to get a return but if they do then the return is the product of each odds within the multiple. So, for example if all three selections within one of the trebles wins and the odds for them are evens, 3/1 and 2/1 on (2, 4 and 1.5 in decimal odds), then the return would be 2 x 4 x 1.5 = £12.00 for each £1 staked.
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The Lucky 15 is called lucky because often the bookmaker will offer increased returns in the event of certain outcomes. If only one of the singles wins for example then the payout is based on double the odds. Additionally, if all four of the selections win then the total payout is boosted by a 10% bonus. The Lucky 15 is a great way to spread your bets around and the chances of getting a return of some kind are much greater than with many other multiple systems.
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