Gambling or betting might seem to be a game of chance on the surface. However, on close observation, it would become clear that chance is the tip of the iceberg in the case of gambling. A thorough process of keen observations, data analysis, and permutations is needed to win any bet when placed.
Placing a wager mindlessly just for the thrill of winning money often incurs huge losses.
Patent Bets: A brief understanding
Before we jump into answering the question asked at the very beginning, the meaning of a patent bet must be understood as well. The industrial definition of a patent bet is that of ‘a cover bet’.
Etymologically, cover bets were part of horse racing wagers, where three bets were placed, so that the chances of getting back the invested amount was more, even though profit was not ensured.
In the sports betting arena, patent bets feature 7 selections, viz:
- Three singles
- Three Doubles
Getting a patent bet explained is easy. A single search and click on the internet would provide thousands of simple explanations for everyone to decipher without any hiccups. Because of its assured returns, a patent bet is one of the most popular forms of betting across all platforms. Since there are seven selections where one can place their wagers, the probability of return increases manifold.
A first look at a patent bet might seem confusing primarily because of the amount involved in a patent bet. A simple way to look at a patent bet is to consider that you are making seven bets in a single go. Hence, the amount on a single patent bet is the cumulative amount of seven bets.
The point to remember here is these seven bets are made on matching three lines. The interesting part of a patent bet is that one can have all the information about these bets in a single slip.
Now, coming back to the question asked, there is no straight answer to it. The reason behind this is that different games have different patterns of winning, losing, and performing. Therefore, predicting the results differs from one game to another. Without a doubt, it can be concluded that the chances of getting a return are definitely higher in a patent bet but assured profit is still a matter of chance.
For example, if you have a win on all three lines then it’s a hay day. However, no win on any line would incur a loss. Both these scenarios rarely occur. The most common one is a win on either a single or a double line, thereby ensuring that not all money is lost. In other words, the risk factor considerably decreases in the case of a patent bet.
Whatever might be the nature of the bet, the thumb rule of any gambling is the limit of the amount one should invest. Self-control is the key to any betting or gambling game; else, it would lead to dire consequences.