Patent Bet

By
• Learn The Lines
• May 17th, 2022

A patent bet is a multi bet type whereby seven bets are placed across three different picks to cover all potential winning outcomes. Patents are similar to trixie bets which places four bets on three picks but only covers two and three-pick parlays whereas a patent covers all winning scenarios. In this guide we will explain the meaning of a patent bet, how they work, how to place one at a sportsbook and why you might consider making a patent bet.

What is a patent bet?

A patent bet is a multi bet which places seven bets across three 3 picks. A patent consists of; 3x singles, 3x two-pick parlays and 1x three-pick parlay. This essentially means that if just one of your three picks wins, you would be guaranteed a return from your patent bet. If two of the three teams were to win you’d win three bets in total (2x single bets and 1x two-pick parlays), if all three teams were to win, you would win all seven bets within your patent (3x singles, 3x two-pick parlays and finally a three-pick parlay). It is worth bearing in mind that you will not always land a profit if just one of your three picks were to win. This ultimately depends on the odds of the picks within your patent e.g. if only one team wins out of three but is a big underdog you may yield a profit, but if one team wins out of three and it’s a short priced favorite, you are far less likely to return a profit. 

How to place a patent bet

As with any multi bet, at first you will need to decide which teams/individuals you’d like to include within your bet. Remember a patent bet has to contain 3 picks, so you first select your 3 picks on your chosen sportsbook. 

Once you have your three picks grouped together in your betslip, you will then be offered the option to place numerous multi bet types. One of which will be a patent bet for sportsbooks that offer this option. 

As already outlined a patent bet consists of 7 bets in total (3x singles, 3x two-pick parlays and 1x three-pick parlay). So if you were to stake $1 on a patent bet, the true cost would actually be $7 as you are placing 7x separate bets within your patent. 

You would then wait for the games to begin to see how well your three picks fared. If one team wins, you would be guaranteed a payout, though this may not always be profitable. If two out of your three teams win you are more likely to receive a profit especially if the two teams are of larger odds. If all three teams win, meaning you win all 7 bets within your patent you will likely stand to win a generous amount of profit.

Patent Bet Example

Let’s say we want to place a patent on three big priced underdogs; Houston Rockets, Cleveland Cavaliers and Orlando Magic in their games in the NBA. The the moneyline odds on the matches looks like this:

Let’s now see how the permutations would look in terms of  payout from our $1 patent bet on the three teams. 

Above you can see the potential returns from each of the 7 bets within your patent. Note that if only one team were to win, you would incur a loss against your original $7 stake, but if just two teams were to win you would instantly be in profit as you’d win 2x singles and a 2-pick parlay. 

Let’s say that the Houston Rockets and Orlando Magic both win. Highlighted in green are the three bets you would win within your patent:

So you can see that with just two of the three teams winning you have won 3x bets (2x singles and 1x 2-pick parlay) and made a generous return ($3.60 + $3.33 + $18.78 = $25.71) on top of your original $7 stake.

Now let’s see what happens if ALL three teams were to win:

With all three teams winning you can see that we win all seven bets within our patent bet and would be in for a very generous total return of $101.47 ($3.40 + $1.80 + $3.33 + $11.88 + $18.78 + $11.04 + $51.04 = $101.47)

Why Might You Place a Patent Bet?

Patent bets are a valuable option to bettors especially if you have a couple of longer odds selections (underdogs) within your three picks, this ultimately ensures you will make a profit if only two teams were to win. Whereas three short priced favorites may require all three teams to win to return a profit, in which case you may consider playing a straight up parlay.

Patent bets are a good option to ensure you at least get some form of payout if only one team were to win and for anybody that is relatively confident about their three picks but just want that added insurance if one or two were to lose you would still receive a payout from your bet.