Permutations or Perms Betting Term Meaning
The dictionary defines the word ‘permutation’ as one of several ways in which a set number of things can be arranged or ordered. As a betting term, permutations means much that exact same thing.
Permutations are the different wagers you can create from an initial set of selections. The more selections you have, the more possible permutations there will be. Let’s take these three matches from the English Premier League as an example:
|West Ham Win vs Everton||2.50|
|Liverpool Win vs Tottenham||1.61|
|Leicester Win vs Bournemouth||1.80|
All possible permutations of those three selections would therefore be:
|West Ham Win||Single|
|West Ham Win and Liverpool Win||Double|
|West Ham and Leicester||Double|
|Liverpool Win and Leicester Win||Double|
|West Ham, Liverpool, and Leicester Win||Treble|
If you were to place all of those wagers, it is what’s known as a Patent bet. This is a full-coverage bet, meaning that it covers all possible permutations of our three initial selections.
The plus side of covering more permutations is that your profit will increase dramatically as the number of correct selections increases. Let’s say you stake £10 per wager on your Patent bet above (£70 total, as there are seven individual wagers). The payouts would be as follows:
Only West Ham wins
- £10 x 2.50 = £25.00 return (-£45 loss)
West Ham and Liverpool win
- West Ham win single = £25
- Liverpool win single = £16.10
- West Ham - Liverpool win double = £40.25
- £81.35 return (£11.35 profit)
West Ham, Liverpool, and Leicester win
- All seven perms win = £175.78 profit
The downside of more permutations is that you have to pay a higher total stake, and one loss can severely cut your profits, as you can see in the example above.
With those same three selections, you could choose to place a combination bet with fewer permutations, such as a Trixie. It would be formed like this:
- West Ham to win and Liverpool to win (double bet)
- Liverpool to win and Leicester to win (double bet)
- West Ham and Leicester to win (double bet)
- West Ham, Liverpool, and Leicester to win (treble bet)
If you placed the same £70 total stake on your Trixie bet. This works out at £17.50 per wager, due to the fact that there are only four selections in a Trixie, compared to seven in a Patent. The same outcomes as above would now give you:
- Only West Ham wins = £-70 loss
- West Ham and Liverpool win = £0.44 profit
- West Ham, Liverpool, and Leicester win = £256.69 profit
As you can see, fewer permutations mean a bigger profit, but also a bigger potential loss. Adding more permutations to your bet is almost like buying insurance against a losing selection.
What are permutations in betting?
Permutations in betting are the different wagers you can create from an initial set of selections. The more selections, the more permutations.