Patent Bet Calculator

Written by: Alex Windsor
Fact checked by Brian Webb  
Updated: July 12, 2024

A patent bet is what is known as a cover bet, in that it covers all possible bet combinations from a given number of selections. A patent has 3 selections and 7 win combinations. Working out your returns based on the possible winning combinations is not impossible, but a calculator saves you precious time.

# Odds Win/Place
1
/

Winnings

20.00
10.00

 

Even if you’re new to Patent betting, our short guide serves a double purpose. We will show you how to use a patent bet calculator and simultaneously help you understand how this type of bet works. Are you looking for more calculation options? You can use our free betting calculator to work out all bet types!

What is a Patent Bet Calculator?

A patent bet calculator is a specialised digital tool for estimating your potential return and profit from a patent wager. Unlike a regular calculator, it includes unique settings, such as each-way and Rule 4, which apply to horse racing, given that patent betting is most popular among horse racing punters.

Other than these two values, the rest of the functions are simple, such as odds or type of outcome. Below, we look at each feature of a patent bet calculator and its function.

Explaining the Terminology

A patent calculator can compute a set of variables to determine your total returns. The main functions you will see used in a patent bet calculator are:

  • Each way – Whether you want to bet on a horse to win or place (finish anywhere from 2nd to 4th place, or lower).
  • Show Rule 4 – Rule 4 simply means readjusting the odds if one or more runners withdraw from a race before it starts. Your bet might still be in play, but the payout will become lower.
  • Type of outcome – There are usually four outcome options for horse racing in patent bet calculators: winner, to lose, dead heat, or void.
  • Odds – This simply means the specific odds a bookmaker gives a runner to win or in the event of a dead heat.
  • Stake – The amount of money you want to wager per line or place a total combined stake.
  • Total Outlay – The combined total amount you’ll be investing per line. There are 7 outcomes from 3 selections, so betting £1 will result in a £7 patent bet.
  • Total Return – The total payout from your patent bet.
  • Total Profit – The profit from your patent bet (if any) minus the staked amount.

Using Our Patent Bet Calculator

Now that you know what each value represents, it’s time you put it into practice with our patent calculator. Here’s how to use it.

  1. Step 1. Choose if you want to make each of your three selections each-way. Our E/W function is automatically set to ‘No.’
  2. Step 2. Toggle the drop-down menu to adjust your Rule 4 preference. Again, our calculator will automatically set this to ‘No.’
  3. Step 3. Choose the type of outcome, whether Winner, Dead Heat, or Void.
  4. Step 4. Input the odds for each of your three selections in the box next to the Outcome column.
  5. Step 5. Set your stake type to ‘per line’ or as a ‘combined total.’
  6. Step 6. Type in your bet size. You can input a bet size as low as £0.10 or higher depending on the stake type.
  7. Step 7. Watch how the Total Outlay (total stake), Total Returns, and Total Profit change relative to your stake size and other settings.

Note: If you bet each-way (E/W) per selection, it means each of the 7 combinations has an extra bet, given that E/W is a double bet. This effectively doubles the number of outcomes to 14. So, a £1 stake on an each-way patent would cost £14 instead of £7.

Why You Need a Patent Bet Calculator

Unless you’ve got Rain Man abilities to make complex calculations in seconds, you need a patent bet calculator. Our tool is free and intuitive, computing returns and profits, and estimating your total outlay in real time as you input each value. This allows you to play around with different bet sizes and markets and choose the combination of selections that offers the best potential return.

Our calculator helps you to instantly calculate returns on stakes from £0.10 upwards. This will help you determine the optimal bet amount relative to the terms of your patent bet. For example, betting each way and per line will require a larger total investment, even for a small stake of £2 or £3.

On the other hand, setting your stake as a ‘total combined’ will require a smaller investment. But if you look at the estimations on our calculator, a ‘total combined’ bet yields very low returns.

Patent Bet Basics: How Does it Work

A patent bet is a full coverage wager – a type of bet that generates all possible combos from a given number of selections. For instance, a Heinz bet has 6 selections and 57 possible combinations, starting from 15 double bets, 20 trebles, and so on.

A patent bet forms 7 betting combinations from 3 selections, including:

  • 3 single bets
  • 3 double bets
  • 1 treble

If, for instance, we refer to the selections as 1, 2, and 3, the combinations will be as follows:

  • Runner 1 to win (single)
  • Runner 2 to win (single)
  • Runner 3 to win (single)
  • Runners 1 and 2 to win (double)
  • Runners 1 and 3 to win (double)
  • Runners 2 and 3 to win (double)
  • Runners 1, 2, and 3 to win (treble)

Whichever of these bets wins, you will see some return. However, it is common to see small returns, even barely breaking even, if you hit one of the low-paying singles.

Alex, a ten-year iGaming industry veteran and Managing Editor at BettingTools specializes in sports betting and betting tools. He also provides insightful reviews, ensures the accuracy of all offers, and maintains content quality helping you make informed choices. Combining professional expertise with a passion for football and soccer, Alex ensures we offer you a reliable resource, focusing on betting tools to assist with odds, accas, and other betting strategies.