Why Bookies love Yankee's and Canadians.
This isn’t going to tell you what NOT to do, it is more about helping you understand what you are letting yourself in for, when you hand over your hard earned cash to any Bookie when placing certain types of bets.
Let’s face it, we have all placed accumulators, Yankee’s, Canadians and a Heinz at some time or other, even though all the so called “experts” advise against them, you do them because it’s relatively small stakes to a possible high return, most people would class them as “fun” bets.
But, where’s the fun in losing money?
The Bookmaker is in dreamland every time one of these bets are handed over, and here is why.
They get to keep around 36% of cash staked.
Ok, let’s look at the Yankee.
The Yankee is four selections covered in 11 bets, six doubles, four trebles and one accumulator.
Sounds a good thing if they all come in, but let’s break it down.
If you get one winner (25% correct), you get zero, zilch, nothing back.
If you get two winners (50% correct) you will only collect on 9% of your bet which is one double.
If you get three winners, which is 75% of your selections correct, three doubles and a treble,
You will only land 36% of your bet.
To get the full value from this bet, you have to have ALL FOUR selections to win.
Mr Bookmaker loves these bets…
So, what about the Canadian? Sometimes called a Super Yankee.
This type of bet covers five selections which has 26 bets, it is made up of ten doubles, ten trebles, five four timers and one accumulator.
It only takes just one losing selection in a Canadian to wipe-out 15 of your bets
Yes, 15 bets gone, that is 57% of your bet gone when only one out of the
five selections has run.
If you get two losers, you have kissed goodbye to 22 (yes, 22) of your 26 bets.
Three losers and you have just handed Mr Bookmaker another three bets to put in his back pocket thank you very much.
Now that means 96% of your total stake is gone…
Well how about a nice 25/1 double from the last two selections to claw it all back?
Four selections go down, then it’s all down.
How about a Heinz? Surely it can’t get any worse... Can it?
If you think the Bookmaker loves the first two bets, then they adore this one.
A Heinz bet covers 6 selections and has 57 bets.
Without going through everything here because I think you get the idea by now but…
If just one of your selections loses, you have lost 54% of your bet immediately.
Enough said about that then…
As a general rule, always be wary of the bets the Bookmakers are advertising, I mean…
Do you really think that bookies are going to tell the general public the best bets to be had?
Don’t forget, Bookmakers are masters at taking money off punters, they make millions, they know how to make the adverts tempting, so don’t be fooled.
Let’s have a look at one of the football bets they offer.
They plaster them all over their shop windows and our TV screens, first goal scorer and the match to end in a certain score line, you know the ones.
Harry Kane to score first and England to win 3-1 and such like.
These bets are very hard pull off, but often the bookies odds look good at first glance, but, if you look closer and multiply the odds for the named first goal scorer in the “goal scorers” market, with the score that you are predicting in the “correct score” market, you will find that the bookies “combination” price is well below what you should be getting.
In fact, Bookmakers have been known to build profit margins of around 50% for themselves into these “special” football bets.
Value is king in the betting world, if you’re not getting value in the bets you place, then long term…you will lose.
You may never have thought about these type of bets before as they are outlined here, and I can understand how you could be put off by these type of bets for good…guess what?
In my opinion it would be the best betting decision you will have made for a long time.
Different people place bets for different reasons, and betting habits differ, but I hope this has given you a bit of understanding into how these bets work, because...
This is the type of information a Bookmaker will never tell you.
I will finish off with a thought you may agree with, or you may not.
Next time you are in your local friendly Bookmakers shop, and he comes round offering you FREE biscuits and FREE cups of coffee, you may do well to leave at once, and go into the supermarket.
Then BUY some biscuits and BUY some coffee…it will be much, much cheaper.
See you at the lollipop