What is a Goliath Bet? Goliath Bet Explained | BoyleSports
What is a Goliath Bet?
A Goliath Bet is a type of combination wager based on eight selections, which form a total of 247 individual bets. Each leg of the bet has the same stake.
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Goliath Bets live up to their name and include an eight-fold accumulator, eight sevenfolds, 28 sixfolds and 56 fivefolds, as well as 70 fourfolds, 56 trebles and 28 doubles. There are no single bets included in Goliath betting, unlike complete coverage wagers such as Lucky 31 Bets and Lucky 63 Bets.
Goliath betting is most popular in horse racing, while it’s also common in sports such as football. You receive a payout from a Goliath Bet with a minimum of two correct selections, while the potential for profit depends on the odds of each individual selection.
If you’re still wondering ‘what is a Goliath Bet?’, read on for more information on this kind of wager.
How do you make a Goliath Bet?
To make a Goliath Bet, you need to make eight selections from eight different events. In horse racing, this means picking eight horses to win eight different races. You can’t pick two horses from the same race if you want to make a Goliath Bet.
After adding your eight picks to your betslip, simply choose the Goliath option by entering the stake you want to wager in the relevant field. This is the stake you wish to place on each selection, meaning your total stake will be 247 times this number.
Taking horse racing as an example, Goliath Bets are made up as follows:
Bets 1 to 28 – 28 doubles
Bets 29 to 84 – 56 trebles
Bets 85 to 154 – 70 fourfolds
Bets 155 to 210 – 56 fivefolds
Bets 211 to 238 – 28 sixfolds
Bets 239 to 246 – eight sevenfolds
Bet 247 – Horse 1, Horse 2, Horse 3, Horse 4, Horse 5, Horse 6, Horse 7 and Horse 8 eightfold
In horse racing Goliath Bets, you can also choose to back your eight horses each way. This means your Each-Way Goliath Bet will pay out should a number of your horses only place, rather than win their race. As a form of hedge betting, this is a way to build an extra layer of protection into your bet, albeit with your total stake doubled.
How do you calculate a Goliath Bet?
Still asking yourself ‘how does a Goliath Bet work?’. If so, it’s probably best to see a Goliath Bet explained in the form of an example. This is how you work out the odds for each component of a horse racing Goliath Bet:
Double bet = Horse 1 odds x Horse 2 odds
Treble bet = Horse 1 odds x Horse 2 odds x Horse 3 odds
Fourfold = Horse 1 odds x Horse 2 odds x Horse 3 odds x Horse 4 odds
Fivefold = Horse 1 odds x Horse 2 odds x Horse 3 odds x Horse 4 odds x Horse 5 odds
Sixfold = Horse 1 odds x Horse 2 odds x Horse 3 odds x Horse 4 odds x Horse 5 odds x Horse 6 odds
Sevenfold = Horse 1 odds x Horse 2 odds x Horse 3 odds x Horse 4 odds x Horse 5 odds x Horse 6 odds x Horse 7 odds
Eightfold = Horse 1 odds x Horse 2 odds x Horse 3 odds x Horse 4 odds x Horse 5 odds x Horse 6 odds x Horse 7 odds x Horse 8 odds
To calculate the returns from a Goliath Bet, you need to insert the odds on each horse, along with your stake. To keep things simple, let’s say all eight horses have odds of 2/1 and the stake you place on each bet is £10.
Double bet – £10 x (2/1 + 1) x (2/1 + 1) = Total return £90 / Total profit £80
Treble bet – £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
Sixfold – £10 x (2/1 + 1) x (2/1 + 1) x (2/1 + 1) x (2/1 + 1) x (2/1 + 1) x (2/1 + 1) = Total return £7,290 / Total profit £7,280
Sevenfold – £10 x (2/1 + 1) x (2/1 + 1) x (2/1 + 1) x (2/1 + 1) x (2/1 + 1) x (2/1 + 1) x (2/1 + 1) = Total return £21,870 / Total profit £21,860
Eightfold – £10 x (2/1 + 1) x (2/1 + 1) x (2/1 + 1) x (2/1 + 1) x (2/1 + 1) x (2/1 + 1) x (2/1 + 1) x (2/1 + 1) = Total return £65,610 / Total profit £65,600
To work out the total payout from this Goliath Bet example, you need to add together the return from each leg. Here, we have 28 doubles totalling £2,520, 56 trebles at £15,120, 70 fourfolds at £56,700 and 56 fivefolds at £136,080, plus 28 sixfolds at £204,120, eight sevenfolds at £174,960 and a £65,610 eightfold. That’s a total payout of £655,110. Taking away your £2,470 stake, that gives you a profit of £652,640.
As you can see, it’s pretty complicated to work out a Goliath Bet payout. Thankfully, you can use an online Goliath Bet calculator to do this instantly. Simply enter the odds of each selection into the calculator along with your stake to see the total return and profit.
Frequently Asked Questions
What are the advantages of a Goliath Bet?
The primary advantage of a Goliath Bet is that it offers the chance to win a huge amount of money. You can do so with a lower level of risk than a straight accumulator, as each leg of a Goliath Bet builds in some extra security in case of one or more losing selections. Depending on the odds, it’s possible to turn a profit from only two winning selections from the total of eight.
What are the disadvantages of a Goliath Bet?
One of the main disadvantages of a Goliath Bet is that all 247 bets must have the same stake. Choosing the stake can be tough in order to balance a manageable total stake and worthwhile profits on the safer bets. Another disadvantage is that if seven or more of your selections don’t win, then you lose a total of 247 bets, compared to just one with a standard eightfold accumulator.
In what sports can you make a Goliath Bet?
Goliath Bets are most popular in horse racing, but they are also common in other sports, such as football. As a form of hedge betting, Goliath Bets give bettors access to huge profits. They also allow for picking one or more riskier selection, such as a long shot in a horse race. This boosts the potential returns significantly, while retaining the security of safer bets within the Goliath.
How many bets are there in a Goliath Bet?
There’s a total of 247 individual bets within a Goliath Bet. The bet is based on eight selections and is comprised of an eight-fold accumulator, eight sevenfolds, 28 sixfolds and 56 fivefolds, along with 70 fourfolds, 56 trebles and 28 doubles. There are no single bets in a Goliath Bet, which gives you a payout with a minimum of two correct selections. Profits depend on the odds attached to each selection.
Can you do an Each-Way Goliath Bet?
Yes, it’s possible to place an Each-Way Goliath Bet. This is a good way to hedge your bets, with the additional layer of security making it popular among horse racing bettors. Each-Way Goliath Bets double your total stake but give you a payout should a number of your horses only place, rather than win their race.