The Canadian Bet is when things start to get a bit more complicated. You’ll need to bet on five separate horses this time for the Canadian Bet. The Canadian Bet consists of 26 individual bets, so this is where things can start to become costly! Fortunately, online websites accept stakes of as little as a few pence. So you can still keep the total stakes here to just a few pounds if you prefer.
You’ll need at least two of your horses to win in the Canadian Bet, with the Bet breaking down as follows:
- There are ten double bets
- Similarly, ten triple bets
- Five fourfold bets
- Finally, there is one fivefold-bet
In reality, the Canadian Bet isn’t that much more complicated than any of the other previous bets. The calculations are a bit tougher now; however, sports betting sites do the math for us anyway. The important thing is to understand how the process works!
Example of a Canadian Bet
We’ll run through an example for you here to give you a better idea of what to expect. For this example, we’ll make a £1 Canadian Bet costing us £26 in total. To keep things super simple we’re going to make all the horses come with odds of 4-1.
In the first instance, where only one horse wins its race, we receive nothing back. When this increases to two wins, we will win on one of our double-bets. Our double would pay us £25(all horses are the same for this example).
If we are lucky enough to win three of our races, we will receive a payout for two doubles and a triple. Each triple-bet pays out a tidy £125! So we’d get £175 back total for three victories.
With four victories, the Canadian bet will payout on six double-bets, four triple-bets, and one fourfold! Each double pays out £15. Every triple pays out £125, and now each fourfold pays out £625! This means getting four results pays out a total of £1275! Pretty impressive already!
The vast sums of money arrive when your horses win all their races. This would give you:
- 10 x £25 for the doubles
- 10 x 125 for the triples
- 5 x £625 for the fourfolds
- 1 x £3125 for the winning fivefold
In total this would give you a whopping win of £7,750! This is a pretty impressive sum of money considering these were horses with short odds!