Using multiple bets is an important part of any betting strategy, as it allows punters to potentially generate massive payoffs using low stakes. Also known as ‘laying a parlay’ or accumulator betting, multiple bets work by using a single stake to bet on a number of different sports events.
The punters stake is placed on the first event (in chronological order), and if this bet wins, the returns are then bet on the next event. This process is repeated each time the selection wins until a selection loses or each of the chosen selections has been successful.
If any selection in a multiple bet loses, both the stake and winnings are forfeited.
There are four different categories of multiple bets:
- Double Bets: Bets on two selections. Both must win to generate a return
- Treble Bets: Bets on three selections. All three must win to generate a return
- Accumulator Bets: Bets on four or more selections, all of which must win to generate a return
Accumulator bets are sometimes described according to how many selections were made, for example, a fivefold is an accumulator bet on five selections, while a sevenfold is an accumulator bet on seven selections.
Using Multiple Bets
Multiple bets have the potential to generate some massive payouts, and are responsible for some of the biggest payouts in the history of sports betting in the United Kingdom, with stakes of as little as $1 generating payouts in excess of £500,000.
Punters often choose to place a selection of small-stakes multiple bets on the selections made for large accumulator bets. This practice is known as combination betting and increases the chances of generating a payout from accumulator betting.
A single is a bet on an individual selection. A set sum of money is staked on the outcome of a specific sports event. If the bet is successful it is paid out according to the odds offered at the time of placing the bet.
A punter places a £5 bet on Manchester United winning the Premier League at odds of 3/1. If the bet is successful it will generate a total return of £20.