A multi bet combines a series of single bets into one wager, the odds multiply with each additional leg of the bet.
Each time a leg is successful, the winning dividend from that leg is wagered on the next leg. The more legs added to a multi bet, the greater the risk and, the greater the reward. A multi bet can combine different types of bets; for example, a margin bet can be combined with a fixed odds bet.
To help explain the intricacies of multi bets, we use an example of a 3-leg multi bet placed on AFL matches. In this case, the multi bet combines the head to head markets for three different games and makes a selection in each match.
The three selections are:
When these three single bets are combined into one multi bet, the accumulated odds are $10.08. If all three legs are successful, then a $20 wager will result in a pay out of $201.60.
All online betting companies offer multi bets. Bookmakers may restrict how many legs a bettor can combine into one multi, but they are a prevalent bet type for both the betting sites and bettors, as such, they are readily available.
Betting company Sportsbet has taken multi bets a step further by creating a Same Game Multi product. It allows bettors to combine single bets from the same match, into one multi bet. Combining bets from the same event has never been allowed, until now.
The restrictions placed on the use of multi bets for bonuses can be quite confusing. Many betting sites will offer bonus bet refund on losing multi bets, where just one leg fails to win. Refunds for losing multi bets is a popular form of betting promotion used to encourage existing customers to place bets.
On the flip side, when bettors go to use the bonus bets that they have earned, quite often, they are not able to use them on multi bets.