Here we are going to talk about betting permutations, also known as combination bets. They have some things in common with multiples and accumulators, but they also have some differences. A permutation bet is a wager that involves a number of selections. However, not all of the selections need to be correct for you to win. This is the major difference between accumulation betting. If you remember, it requires that all the selections are right for a win. Make sure you familiarise yourself with these terms if you still have not before you proceed to read this post. Because here we are going to define permutation and combination, and we will also give you some examples to illustrate the variety of wagers you can make. Let’s get to it.
Understanding How it Works
Now, as we mentioned above, the main idea of betting permutations is to lower your risk of losing when making multiple selections. It enables you to win higher payouts without risking your entire stake as you do with regard to multiples when one of the selections is not successful. Imagine you have the following selections: 1, 2, 3, and 4. If you place an accumulator bet on all of them at the same time, all of them have to win for you to get paid. If not, you lose all the money you staked. This is where permutations will come in handy.
Here is what you can do to reduce the risk of losing. You can place doubles and trebles instead. For example, you could bet on 1&2, 2&3, 3&4, etc., or 1, 2 & 3; 2, 3 & 4, etc, all on one wager. This would mean that you only need to get two selections right to win. And one of your doubles is sure to win, so payout is guaranteed. So, even though some of your selections may lose, at least one of them will be right. This means that you will lose part of your stake, but you will get a return as well.
We are going to use a few examples. Take a look.
Tennis Match (Four Selections)
Here is the first example with permutations. Have a look at the table above. Generally speaking, you can make an accumulator on these selections. However, you can also use a permutation bet. Here is what you could see on a betting slip if you decided to do so:
The table shows that you can cover the fourfold accumulator, as well as trebles, doubles and singles. There is nothing to worry about; the combinations will be automatically worked out by the online bookmaker. Imagine you wanted to stake £10 on each and every double that is possible in this situation. Then you would have to write down £10 next to Doubles. Looking at the imaginary betting slip (the table) above, we can see that there is a total of six possible doubles. Hence, you would have to stake a total of £60. Then, let’s say you wanted to wager £5 on each and every treble that is possible in this situation. The table shows that there are four possible trebles. This means that you would need to stake a total of £20.
Here is a great advantage of permutations; you are the one that decides how much risk you can take. For example, you can use most of the stake on the fourfold and spread the other part on the trebles and doubles. Alternatively, you can wager more on the trebles than the doubles, and vice versa. Another option is to use the Lucky 15 and Yankee options. The latter covers automatically the fourfold, trebles and doubles, and the former covers all the sections that a Yankee does plus extra bets on all the four singles. So, if you decide to place a £10 Yankee, you will have to stake £10 on the fourfold, £10 on the four trebles and £10 on the six doubles. This totals to £110. With a Yankee, you cover all possible combinations. It is called a full bet. A Lucky 15 is considered a full cover with singles because it offers additional bets on the singles.
Football Match (Two Selections)
Before seeing how gamblign permutations can work with the above example, let us first tell you what it would be like if you placed an accumulator instead. What we did not say about multiples is that the odds are multiplied when you make such a wager. (We already covered that in our section about accumulator bets.) So, if you think that it is the home teams that are going to win the games from the above table, you can make a double of Liverpool and Swansea. Let’s say that you want to stake £30. The total return you could get if those teams did win would be about £77.70, including the stake. Hence, your profit would be £47.70. As you can see, because of the multiplied odds, you get a greater payout. Of course, you need to get the two selections right. Otherwise, you will lose.
Now, let us see what would happen if we used permutations instead of doubles. In this case, you would make three bets: one double, one on Liverpool to win and one on Swansea to win. Imagine you want to stake a total of £30. Thus, you would risk £10 on each of the bets. Here is what would happen if the two teams won:
- A £10 stake on Liverpool at odds of 1.40 would give back a total of £14.00 (stake included). This means you would get a profit of £4.00).
- A £10 stake on Swansea at odds of 1.85 would give back a total of £18.50 (stake included). This means the profit you would get would be £8.50.
- A £10 stake on double at odds of 2.59 would give back a total of £25.90 (stake included. This means your profit would be £15.90.
When we add the figures of all three profits together, we get a total of £28.40. This is what your profit would be when using permutations. This is less than the money you would get by placing a double (£47.70). However, you do not need to get all of the selections right. If only one of the teams wins, you will win a small amount of money too. Hence, you will not lose as much as you would if you placed a double and you did not get it right.
As you can see, sometimes sports betting is not about winning the biggest profit you can. Sometimes you just have to measure the risk and take an approach that will spare your bankroll. You may need to sacrifice some of the prospective returns to avoid failure, but this is a good way to keep your bankroll intact.
Full Cover Wagers
We mentioned full cover bets in one of the examples above. You should know that besides Lucky 15 and Yankee, there are other full covers. The table below gives more information about them.
We showed you how permutations work. We demonstrated different variations, and we also gave you a few examples. Hope this helps.
If you do not fancy this type, no worries as there are plenty more you can choose from.
Types of Betting
- Arbitrage Betting Explained
- How Hedging Bets Work
- Kelly Criterion Betting Strategy
- Moneyline Betting in Sports
- Parlay Betting Explained
- All about Point Spread Betting
- Meaning of Over Under Betting
- Understanding Outright Bets
- What Prop Bets are About
- Explaining a Bet Accumulator
- Basics of Live Betting
- What is Exchange Betting
- Six Nations 2017 Permutations: Which Teams Can Win (Major Title, Grand Slam, Triple Crown & Other)
- Super Saturday Permutations: The Race For Second (Saturday Evening, All Eyes Will be on England)