A patent bet is a type of wager in horse racing, also known as a Full Cover Bet, where punters select three horses to finish in the top three positions in a race. It is a popular bet due to the high chances of winning, as it covers all eventualities, even if the horses don’t finish in the exact order.
At its simplest, the patent bet requires punters to pick three horses to either win or place in a race. If the horses finish in 1st, 2nd or 3rd position in any order, the bet is a winner.
How Many Horses Are in a Patent Bet?
A patent bet requires a punter to pick three horses to win or place in a race. This means that the minimum number of horses in a patent bet is three.
The maximum number of horses in a patent bet will depend on the number of runners in the race. If there are six or fewer runners, a patent bet will cover all of them. However, if there are more than six runners in a race, then the maximum number of horses in a patent bet will be six.
Odds in a Patent Bet
The odds in a patent bet will depend on the runners in the race. As the bet covers all eventualities, the odds will be lower than if you were to back each horse to win or place separately.
For example, if a punter backs three horses to win or place in a race with five runners, the patent bet will pay out at approximately 2/1. This is because the bet covers all possible permutations, and the odds reflect this.
Types of Patent Bets
There are two main types of patent bets: the full patent bet and the reduced patent bet.
The full patent bet requires punters to select three horses to finish in the top three places in a race. It is the most popular type of patent bet and offers the highest chances of winning.
The reduced patent bet is similar to the full patent bet, but requires punters to pick only two horses to finish in the top two places in a race. This type of bet offers punters a lower chance of winning, but also has lower odds and a higher return on investment.
Benefits of Patent Bets
Patent bets offer punters a number of benefits, including:
- Higher Chances of Winning – Patent bets cover all eventualities, meaning punters have a higher chance of winning.
- Lower Odds – As the patent bet covers all possible permutations, the odds are lower than if you were to back each horse to win or place separately.
- Lower Risk – Patent bets are less risky than other types of wagers as they cover all possibilities, meaning there is always a chance of winning.
- Higher Return on Investment – Due to the lower odds, patent bets offer punters a higher return on their investment.
How to Place a Patent Bet
Placing a patent bet is a simple process. Punters must first select three horses to win or place in a race. They must then decide whether to place a full patent bet or a reduced patent bet.
Once the bet has been placed, punters must wait for the race to finish to see if they have won. If all three horses finish in the top three places, the bet is a winner.
Strategies for Placing Patent Bets
There are a number of strategies that punters can use to increase their chances of winning when placing patent bets. These include:
Research the Horses
Punters should always research the horses they are planning to bet on. They should look at the form of the horses, and consider factors such as the distance, course, jockey and trainer. This will help punters to make an informed decision when selecting their horses.
Consider the Odds
Punters should also consider the odds when placing a patent bet. The odds will reflect the chances of a horse winning or placing, so punters should look for horses that offer good value.
Spread the Risk
Punters should spread their risk by selecting horses from different stables or trainers. This will reduce the chances of all three horses being from the same stable, which could result in the bet being a loser.
Conclusion
A patent bet is a popular type of wager in horse racing, where punters select three horses to finish in the top three places in a race. The minimum number of horses in a patent bet is three, while the maximum number of horses will depend on the number of runners in the race.
Patent bets offer punters a number of benefits, including higher chances of winning, lower odds and a higher return on investment. Punters can use strategies such as researching the horses, considering the odds, and spreading the risk to increase their chances of winning.