Full cover bet
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A full cover bet is any bet which consists of all available multiples bets within a given number of selections.
Examples of full cover bets include:
- Patent bet - three selections
- Lucky 15 - four selections
- Lucky 31 - five selections
- Lucky 63 - six selections
All the Lucky bets act similarly. For example, the Lucky 63 is a special type of bet found in British bookmakers. It comprises of 6 selections, and is staked as 63 bets (hence the name) which make up every possible combination of accumulator (or multiple selection bet) in 6 selections (including 6 single bets, which is what distinguishes a Lucky 63 from a Heinz). Most bookmakers offer a consolation on Lucky 63 bets, which is usually in the form of a payout at twice the odds for a single winner; this makes a Lucky 63 a more attractive option as a bet. Because a Lucky 63 consists of all combinations of multiples possible from 6 selections it is known as a full cover bet.
[edit] Breakdown of component bets
The 63 Bets are broken down as such:
- One six-fold bet (a Parlay or Accumulator bet).
- Six five-fold bet (a bet comprising of 5 selections).
- Fifteen four-fold bet (a bet comprising of 4 selections).
- Twenty trebles (a bet comprising of 3 selections).
- Fifteen doubles.
- Six singles.
[edit] Staking
A Lucky 63 is staked as 63 times a unit stake, so for example, if a unit stake for a Lucky 63 was £1, then the total stake for the bet would be £63; £126 if the unit bets were taken each way.
[edit] Winning
A Lucky 63 is a winner if at least one of the selections wins, although a single win is unlikely to collect more than the original stake of the bet.
As soon as several selections win, the bet becomes very profitable. For example, if 4 selections come in, then four trebles, six doubles and four singles are paid out, each at the corresponding payout levels for the standalone bets.
If all six selections come in (or place, in the case of an each-way Lucky 63), then all 63 comprising bets win, and the Lucky 63 is very profitable indeed. It is known for Lucky 63 slips to win 5 (or even 6) figure amounts with just pence as the unit stake. Most bookmakers also payout a bonus on returns where all selections win (usually an extra 25%.)
