Multi bets offer a wider punting experience

March 21, 2019 | By More

Multi bets are often advertised and spoken about on mainstream sports media. They were first promoted as a novelty bet but now command a healthy percentage of a punter’s overall investment. Little wonder that new types of multi bets are coming from corporate bookmakers at a rapid rate.

Multi bets are also used by serious punters to obtain potentially large payouts.

Known also as Accumulators, All Ups, or Parlays, multi bets allow the punter to combine a number of different individual bets into a single bet.

Multi bets involve a number of different events, such as horse races or football matches, and the punter picks the winner of each one.

After the events, known as “legs”, are placed in order, the winnings from each are subsequently placed on the following leg, and so on, until the final leg is run.

The payout is a product of the multiplication of the odds of each selection.

Multi bets keep you engaged for longer

Multi’s are the latest novel offering from corporate bookmakers. They are considered fun for the average punter and keep the punter engaged for more than just a single event.

Multi bets are popular with punters betting on horse racing together with other sports.

Multi bets are exciting to advertise and there is no limit to the novel marketing that can be put around it. Entire segments of footy shows, for example, are devoted to promoting various multi bet combinations.

An example of a great multi bet you can get involved in is the “Same Game Multi” that BetEasy have introduced for the upcoming AFL season. It’s only available on the BetEasy App.

You can place a 3+ Leg Same Game Multi and if your bet doesn’t win, you’ll get your stake back as a Bonus Bet up to $25.

That’s great insurance on your first bet for the AFL season. Get to it!

Neds also offer great multi bets in various forms that are worth checking out.

Inherent costs in multi’s

Multi bets are also profitable for the bookie. The size of the bookie’s commission is amplified the more legs are included.

How much commission does a bookmaker take out of the odds?

In a fair odds event with only two outcomes, such as a coin toss, the odds on each side coming up are $2. That is you bet $1 to win a $1.

Given that the chances are exactly 50% of the bet winning, then over a long run you will basically not make a single cent. But nor will the bookmaker. Half the time he will need to pay you and the other half time he will pocket your money. Overall, no profit is made on either side.

So, what does the bookmaker do to make money for his business? 

Calculating the bookmaker’s cut

The bookmaker makes money from taking a small percentage of each bet.

It’s not easy to calculate the bookmaker’s take-out from complex multi’s because of all the different markets and potential winning combinations.

However, it’s possible to see how it amplifies over multiple legs in the following simple example provided by ExceedandExcel, a member of the Thoroughbred Village forums.

Example of calculating bookmaker commission

Let’s use the Head-to-Head (H2H) football markets for simplicity with $1.90 for the line odds (where both teams have an even chance of winning).

The true odds are $2 as there is a 50% chance of each side winning. 

For a single H2H game bet, the winner payout odds at the line will be around $1.90. The true odds would be $2 but the bookmaker takes out 5% commission.

1.90 / 2 = 0.95 

The bookmaker’s take-out is 5% [(1-0.95)*100]

For a 2 leg multi bet, the payout will be 1.90*1.90 = 3.61. However, the true odds will be 2*2 = 4

3.61 / 4 = 0.9025 = 9.75% bookmaker edge. 

For a 3 leg multi the payout will be 1.90*1.90*1.90 = 6.859. The true odds will be 2*2*2 = 8

6.859 / 8 = 0.8574 = 14.26% bookmaker edge. 

For a 4 leg multi the payout will be 1.90*1.90*1.90*1.90 = 13.0321. The true odds will be 2*2*2*2 = 16

13.0321 / 16 = 0.8145 = 18.55% bookmaker edge. 

As a real world example, a 4 game football multi will make the bookmaker about 18.55% in commission.

Almost one fifth of your potential winnings goes to the bookmaker!

Multi bet events are arranged in chronological order

Multi Bets are worked out in the order that legs finish, not the order they are placed in.

For example, if the leg listed 2nd on your bet finishes first it will be worked out as the first leg in your bet

The payout from each leg is used as the Stake for each following leg in your bet.

Unless otherwise selected, each leg of your bet is a win bet. The payout from your first leg is used as the stake for your second leg, and so on until all legs have finished.

Bookmakers do not arbitrarily set a level of take-out for a multi bet. The take-out is just calculated on the individual markets, as shown above.

The disadvantage to the punter will depend on how competitive a market is set.

In summary, multi bets provide the punter with a varied and wider choice of bets, each combined for convenience into one single bet.

Multi bets keep the punter engaged for longer and can result in large payouts if the odds are in favour.

The bookmaker take-out can be amplified the more legs in the bet, however there is no additional commission compared to manually playing “all ups”.

Give it a try.

As we always say at Villagebet, remember to gamble responsibly.

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Category: Betting Strategies

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Mayor of Thoroughbred Village