What is a Canadian Bet? Canadian Betting Explained | BoyleSports
What is a Canadian Bet?
A Canadian Bet is a form of combination wager that comprises a total of 26 separate bets. Discover more about this type of wager, including how to make one.
Also known as a Super Yankee Bet, the 26 bets are based on five selections, with Canadian betting seeing a stake on every possible combined outcome.
This means a Canadian Bet has one fivefold, five fourfolds, 10 trebles and 10 doubles. This is a result of choosing one more selection than a Yankee Bet, which is based on four picks. Canadian Bets are similar to Lucky 31 bets, but a Lucky 31 also includes five singles. Canadian betting is most popular in horse racing, although it’s available on a wide range of other sports, including football.
You can turn a profit on a Canadian Bet with just two winning selections. As a form of hedge betting, this is why Canadian betting is preferred by many bettors over a straight accumulator bet. To win the full amount however, all five selections must come in.
If you’re still asking yourself ‘what is a Canadian Bet?’, read on for more information about this type of wager.
How do you make a Canadian Bet?
To place a Canadian Bet, you first need to make five selections to add to your betslip. In horse racing bets, you’ll see a Canadian Bet explained as picking five horses to win five different races.
Once you’ve added your picks to your online betslip, all you have to do is select the Canadian Bet option and enter the stake you want to place on each leg. Remember that you’ll be placing a total of 26 separate bets, so choose your stake accordingly. The bets you’ll stake are as follows:
10 doubles – Horse 1 & 2 / 1 & 3 / 1 & 4 / 1 & 5 / 2 & 3 / 2 & 4 / 2 & 5 / 3 & 4 / 3 & 5 / 4 & 5
10 trebles – Horse 1, 2 & 3 / 1, 2 & 4 / 1, 2 & 5 / 1, 3 & 4 / 1, 3 & 5 / 1, 4 & 5 / 2, 3 & 4 / 2, 3 & 5 / 2, 4 & 5 / 3, 4 & 5
5 fourfolds – Horse 1, 2, 3 & 4 / 1, 2, 3 & 5 / 1, 2, 4 & 5 / 1, 3, 4 & 5 / 2, 3, 4 & 5
1 fivefold – Horse 1, 2, 3, 4 & 5
Standard Canadian Bets are win only. This means your selections have to win in order to qualify as a winning leg. It’s possible to hedge your bets further by choosing an each way Canadian Bet, which doubles your stake while increasing your potential payout and protecting against a losing bet.
How do you calculate a Canadian Bet?
If you’re still wondering ‘how does a Canadian Bet work?’, it may help to see the calculation for working out the potential payout. To do so, you just need to combine the odds from all of the legs of the bet.
For a win only Canadian Bet, this means working out the odds for your 10 doubles, 10 trebles, five fourfolds and fivefold. Sticking to horse racing, this gives us a set of simple equations:
Double = Horse 1 odds x Horse 2 odds
Treble = Horse 1 odds x Horse 2 odds x Horse 3 odds
Fourfold = Horse 1 odds x Horse 2 odds x Horse 3 x Horse 4 odds
Fivefold = Horse 1 odds x Horse 2 odds x Horse 3 x Horse 4 odds x Horse 5 odds
To get the total return of a Canadian Bet, you need to add your stake into the calculation. To keep things simple, let’s say all of the horses you’ve picked have odds of 2/1 and you’re staking £10 on each leg.
Double – £10 x (2/1 + 1) x (2/1 + 1) = Total return £90 / Total profit £80
Treble – £10 x (2/1 + 1) x (2/1 + 1) x (2/1 + 1) = Total return £270 / Total profit £260
Fourfold – £10 x (2/1 + 1) x (2/1 + 1) x (2/1 + 1) x (2/1 + 1) = Total return £810 / Total profit £800
Fivefold – £10 x (2/1 + 1) x (2/1 + 1) x (2/1 + 1) x (2/1 + 1) x (2/1 + 1) = Total return £2,430 / Total profit £2,420
Now you need to add together 10 doubles, giving you a return of £900, 10 trebles for £2,700, five fourfolds at £4,050 and your fivefold worth £2,430. That gives you a total return of £10,080, with a profit of £9,820 on your £260 stake.
Of course, when you take differing odds into account, doing these sums quickly becomes far too time consuming. To make things easier, you can use an online Canadian Bet calculator to work out your returns instantly.
Frequently Asked Questions
What are the advantages of a Canadian Bet?
Canadian Bets are popular due to the added security they offer compared to a standard accumulator bet. Canadian betting is a form of hedge betting, where you can cover yourself in the event one or more of your selections fails to win. Depending on the odds, it’s possible to turn a profit from only two correct selections from your total of five.
What are the disadvantages of a Canadian Bet?
The disadvantage of a Canadian Bet is that if fewer than two of your selections come in, then you will effectively lose 26 bets rather than just one compared to placing a regular accumulator. The odds are also lower for some parts of a Canadian Bet, although both of those things are mitigated by the extra security you get from this type of wager.
In what sports can you make a Canadian Bet?
It’s possible to make a Canadian Bet in a wide array of sports, including football, but they are most popular in horse racing. This is because you can add a selection with particularly high odds into the bet, which offers the potential for a huge payout but is also covered by other selections that can be much safer.
How many bets are there in a Canadian Bet?
A Canadian Bet has a total of 26 bets, based on five different selections. Canadian Bets are comprised of 10 doubles, 10 trebles, five fourfolds and one fivefold. All five selections must win in order to secure the full payout, although it’s possible to turn a profit with only two correct selections.
What’s the difference between a Canadian bet and a Lucky 31?
Canadian Bets and Lucky 31 Bets are very similar, but the difference is that a Lucky 31 Bet also includes five singles. This means it has a total of 31 selections compared to a Canadian Bet’s 26, which is made up of combination bets only with no singles included.