Multi Bet Betting Term Meaning

A Multi Bet is a common betting term, especially in Australia, for a wager that allows you to select up to 25 individual bets and combine them into a single bet.

UK punters are more familiar with the term ‘accumulator’ and American bettors use ‘parlay’, both of these are identical to a Multi Bet. The name refers to the multiplication of the betting odds that produce the final payout. 

As a Multi Bet is a single stake wager, the punter needs every selection to win (be correct) in order to have a winning ticket. 

Each selection in a Multi Bet is known as a leg. The payout from the first leg to be completed is used as the stake for the second leg and so on. For example, here is three leg Multi Bet: 

  • Leg 1: You bet $20 at 5.00 = $100 returned
  • Leg 2: $100 is your stake. The odds are 3.00 = $300 returned
  • Leg 3: $300 is your stake. The odds are 2.00 = $600 returned ($580 profit)

Punters have a few options when placing Multi Bets, let’s run through them below so you know what bets you can place.

Win Only Multi Bets

This is the most common Multi Bet. Each individual bet must be successful to receive a payout. 

As you will see below, the selections can come from a combination of different sports and racing events, this is something else that makes Multi Bets appealing to punters.

Leg 1Horse RacingStar of St James (2:05 Carlisle)7.00
Leg 2 Basketball Bucks to beat the Raptors 1.70
Leg 3 AFL Sydney to beat Collingwood 3.00

Stake: $20.00

The payout is calculated as follows:

  • Stake $20.00 x 7.00 (leg 1) = $140.00
  • $140.00 x 1.70 (leg 2) = $238.00
  • $238.00 x 3.00 (leg 3) = $714.00

Each Way Multi Bets

An Each Way Multi Bet can appear a bit more complex, but it’s just the same payout as a standard each way wager but it is multiplied throughout. These are the important points to note:

  • Each way bets cost two betting units. 1 unit of the win and the other unit on the place.
  • If a leg wins, both the win and the place bets will be paid by multiplying the odds for each. The separate payouts are then added together to form the stake for the next leg. 
  • If only the place bet wins, this payout is calculated and it is used to stake the next leg. 

Leg 1 Dirchill 9.00 3.00
Leg 2 Cartmel Cleeve 8.00 2.00
Leg 3 Ifton 12.00 4.00

Stake: $20.00

  • Stake $20.00. Leg 1: $10 on win and $10 on place. 
  • Dirchill wins the race
  • $10 x 9.00 (win) = $90 + $10 x 3.00 (place) = $30. Total returns $120
  • $120 is stake for leg 2. ($60 on the win and $60 on the place)
  • Cartmel Cleeve is second (place bet only wins)
  • Win bet loses. $60 x 2.00 (place) = $120 returns
  • $120 is stake for leg 3. ($60 on the win and $60 on the place)
  • Ifton wins the race
  • $60 x 9.00 (win) = $540 + $60 x 3.00 (place) = $180. Total returns $720
  • x 7.00 (leg 1) = $140.00
  • $140.00 x 1.70 (leg 2) = $238.00
  • $238.00 x 3.00 (leg 3) = $714.00

You can also place ‘Exotic Multi Bets’. These are also known as combination bets or system bets. Some examples of these exotics are:

  • Trixie
  • Patent
  • Lucky 15
  • Yankee
  • Canadian
  • Heinz
  • Goliath

Each of these exotics are made up of ‘Boxed Multi Bets’ (doubles, treble, four-legs, five-legs, etc). For instance:

  • Trixie (3 selections - 4 bets)
  • 3 x doubles
  • 1 x trebles
  • To receive a payout, at least two selections must win.

Multi Bet FAQ

What is a Multi Bet?

A Multi Bet is a common betting term in Australia for a wager with more than one individual bet.

What are other names for Multi Bets?

Other names for Multi Bets include accumulator and parlay.

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