What Is A Patent Bet?

what is a patent bet

Let’s start by doing away with an uncommon misconception. Those of you who are looking to put money down on a patent’s success – you’re in the wrong place. You’re probably looking for a blog about investing in startups.

Still here? Great! We’re going to look at the patent bet, a special type of bet that’s most often used in horse racing. We’re not a horse racing site, of course, so we won’t touch on that. However, patent bets can be made and are used in North American league sports betting too – that’s what we’re going to focus on.

Patent bets, explained

A patent bet isn’t actually a single bet – rather, it’s a combination of three different types of bet.  That means when you’re placing a patent bet, you’re actually placing multiple bets – 7 in total.

7 bets, 3 lines, 1 slip

A good way to remember how patent bets work is that you’re actually making 7 bets. Those bets are being made on the same 3 lines, and it all shows up on 1 bet slip. 

More specifically, you’re making 3 single bets, 3 double bets, and 1 treble bet on the 3 lines. Not too sure what that means? Don’t worry – we’re about to explain it all.

Singles, doubles, and trebles

Single bets are simple enough to explain – they’re the typical point spread, moneyline, over/under, or other bets you’d make on a single line.

Doubles and trebles, on the other hand, are parlay bets. A parlay bet is a bet on two or more lines. You need to win every line to win the parlay. Double bets are bets on 2 lines, while treble bets are bets on 3 lines.

To better understand patent bets, let’s take a look at a hypothetical 3 line patent using some upcoming NBA games.

An example of a patent bet

To make a patent bet, we have to select 3 lines. Let’s say our selections are as follows:

Game (selection in bold)Point spreadOdds
L.A. (Clippers) @ Golden State+6.5-110
Chicago @ L.A. (Lakers)-8.5-110
Toronto @ Sacramento-3.5-110

A patent on these 3 lines would then be broken down into 3 single bets, 3 double bets, and 1 treble bet. Broken down, then, the bet looks like this:

3 singles

Game (selection in bold)Point spreadOdds
L.A. (Clippers) @ Golden State+6.5-110
Game (selection in bold)Point spreadOdds
Toronto @ Sacramento-3.5-110
Game (selection in bold)Point spreadOdds
Chicago @ L.A. (Lakers)-8.5-110

3 doubles

Game (selection in bold)Point spreadOdds
L.A. (Clippers) @ Golden State+6.5-110
Chicago @ L.A. (Lakers)-8.5-110
Game (selection in bold)Point spreadOdds
L.A. (Clippers) @ Golden State+6.5-110
Toronto @ Sacramento-3.5-110
Game (selection in bold)Point spreadOdds
Chicago @ L.A. (Lakers)-8.5-110
Toronto @ Sacramento-3.5-110

1 treble

Game (selection in bold)Point spreadOdds
L.A. (Clippers) @ Golden State+6.5-110
Chicago @ L.A. (Lakers)-8.5-110
Toronto @ Sacramento-3.5-110

All 7 of those bets are a part of your patent bet – and there’s the potential to win on any (or all) of the bets.

How much do patent bets pay?

A patent bet pays out if any one of your lines wins – of course, that doesn’t mean you’ll make a profit. 

Obviously, if all of your lines win, you’re in for a massive pay day when you’ve taken a patent bet – after all, 3 winning lines means you’ve won 7 bets, 4 of which were parlay bets.

You’ll want to check with your bookkeeper about how they handle parlay bets. There are basically two ways parlays can pay out: “true” odds and “parlay” or “standardized” odds.

Generally, for doubles and trebles, standardized parlay odds actually pay better than true odds. For this reason, you’ll typically want to make sure your bookkeeper is paying parlay odds on patent bets.

When none of your lines wins, you don’t win anything. When two of your lines win, you win two singles and a double. When all three lines win, you win the whole thing. 

Trixies and patents

Trixie and patent bets are incredibly similar, in that you’re betting on 3 lines, and you’re making multiple parlay bets on a single slip.

The difference between trixies and patents is simple: trixie bets don’t have any singles on them. They’re just 3 doubles and 1 treble. 

Permed patents

Most patents are 3 line patents, but with a permed patent, you can bet on 4 to 6 lines. These lines, however, continue to follow the rules of a patent – there are singles, doubles, and trebles, no four-fold bets.

In fact, a 4 line patent is actually 4 different patent bets: 

  • A patent bet on lines A, B, and C
  • A patent bet on lines A, B, and D
  • A patent bet on lines A, C, and D
  • A patent bet on lines B, C, and D

A 4 line permed patent, then, is actually 28 bets – 7 bets per patent.

How much does a patent bet cost?

A patent bet is 7 bets, so a $100 patent bet will cost you $700 (or, alternatively, it will cost you $100, but you’ll only place $14.29 on each bet). For this reason, it’s always better to think of patent bets not as a single bet, but as 7 bets.

Are patent bets worth it?

Now that you understand what a patent bet is, we can try to answer the most important question on any bettor’s mind: 

Are they worth it?

There’s no simple answer to that question, of course – different bets have different places in different bettors’ strategies, depending on their goals, their bankroll, their confidence in their picks, and other factors.

Here at Kyle Covers, we strive to bring you the best picks for every game, in every league, every night. Kyle works hard to determine whether or not the picks he makes are worthy of being parlayed, evaluating how strong each of the picks are. 

Why the segue? Because the question you’ve got to ask when placing a patent bet is simple: are you not confident enough in your picks?

Patent bets are a way of decreasing risk – if your treble or your double doesn’t pay off, you can fall back on single lines. The real question is: why are you picking trebles or doubles that you’re not confident in? Are you trying for conservative bankroll management? If you are, would you be better off simply spending 7x more on a single bet you’re very confident in?

This isn’t to say there’s no place for patent bets – it’s just to say you should look carefully at what’s motivating you to make one. 

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