Learning to bet on horse races and professional sports is exhilarating. Let’s face it though; it can be tough. There’s so much to learn to make good decisions and win big. As you get the basics down and win a couple of bets, you’ll want to learn more.
At Honest Betting Reviews, we want to help you develop your skills at betting and deepen your knowledge of the different kinds of bets there are. For that reason, we’re doing a series on the ins and outs of different types of bets.
One of the bets you might have heard about during your time at the track or other locations is the Heinz bet. Here’s everything you need to know to make a Heinz bet with confidence.
What is a Heinz Bet?
Here is how a Heinz Bet is comprised:
- 15 doubles
- 20 trebles
- 15 four folds
- 6 five folds
- 1 six-fold accumulator.
The name of the heinz bet comes from the famous product, Heinz 57 sauce. As you might now suspect, this bet is actually 57 individual bets that cover six selections. These six selections can be either horse races or a sporting event of some sort.
This bet consists of 15 doubles bets, 20 trebles, 15 four folds, 6 five folds and 1 six-fold accumulator. A doubles bet is where you bet on the winner of two races or matches. Since you’re betting on six races or games, 15 doubles covers all the possibilities. It’s the same for the treble bets and the fold bets. In order to win the six-fold accumulator, all your picks must win.
In order to win any money, you must have a least two winners. Of course, you want them all to win and make the most money available. The heinz bet is considered a full coverage bet that covers all the possible outcomes with your choice of winners winning.
An Example of a Heinz Bet
With the Heinz bet, you’re betting on six different races or sporting events each with a winner. The more winners that you choose, the more money you win. However, not all of your winners will offer the same odds of winning. For our purposes, we’re going to say that they all had 10/1 odds.
For our imaginary bet, we’re going to bet on the horses. We don’t want to go broke on the initial bets, so we’re going to bet £1 per bet for a total of £57.
With this bet, you need at least two of your horses to win to make any money back.
If only two of your horses win, you get a payout of £121 with £64 of that as profit. Okay, well how about if four of the horses win? If four of your horses win, the payout is £20,691 with a £20,634 profit. Now, it’s time to dream huge. If all six horses win, you can get a payout of £2,985,917 with a profit of £2,985,860.
If luck is with you, the heinz bet can pay off a lot of money.
A Heinz Calculator
Of course, you’re probably not going to make a heinz bet where all the horses that you choose are favored at 10/1 odds. A heinz bet calculator can help you spend some time seeing the types of payouts available and the way your selection of horses affect the final profit.
It’s a good idea to do your research on the horses or sporting teams before actually making a heinz bet. This will help you determine their odds of winning and the circumstances needed to win. In some cases, you might find a team that only wins at their home stadium. All of this information will help you make a decision for your bet.
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