Multi bets are so attractive because of the possibility for a gargantuan payout off a relatively small bet. The way that multi bets work is that the odds for every leg of the bet are multiplied together and compounded into one extremely large win. The catch – you need every selection to win, and if a single outcome doesn’t go your way you end up with a big fat zilch.
So when you string together a series of wins on your bet, and get right down to the last match, you’re looking down the barrel of a large payout and a great story to tell your mates, or a major disappointment with the only tale to share being how you came close but no cigar.
Most punters that place multi bets can attest to the tendency of being let down by the very last leg, perhaps it’s because those heartbreaking losses cut the deepest and etch themselves into our memory.
Consider the following example of a $100 AFL multi bet on 8 teams with the following odds:
Sydney @1.50 ☑
Hawthorn @1.30 ☑
Adelaide @2.30 ☑
West Coast @1.70 ☑
North Melbourne @2.80 ☑
Brisbane @4.00 ☑
Essendon @2.70 ☑
GWS @1.80 �
The payout would be as follows:
$100 x 1.50 x 1.30 x 2.30 x 1.70 x 2.80 x 4.00 x 2.70 x 1.80 = $41,501.68
So you’ve won the first 7 legs of the bet and are sweating it out for the last match to begin. If GWS wins you get a return of over $41,500 – if they lose you get nothing. Suddenly you’re having second thoughts and doubt is creeping in. GWS opponent is paying at 2.00 odds and the draw is paying 38.0
With Sportsbet, you have the option to Cash Out and take a guaranteed payout. In the example above you collect $20,000 profit no matter how the last game unfolds.
Of course there is the possibility that GWS wins and you’ve wasted half of your profits, but another way of looking at it is this: if you had $20,000 in your account would you bet it all on GWS or would you collect it out? If you would never risk that much money on a single bet, then cash out and count your winnings!
Another way of looking at it is, if you weren’t confident of the bet coming up you would have been better simply putting a 7 team AFL bet, and that second guessing yourself isn’t what got you to that position of winning your previous matches.
For those that have AFL or NRL tipping comps at their workplace, it is very difficult but people do have perfect rounds where they win 8 from 8 matches. It all comes down to the individual, as well as the status of their bet, and whether the payout would be life changing or not.
In May of this year, a punter placed a $15 6-leg multi bet had the option of either cashing out $30,000, or letting their soccer bet play out for a possible $100,000 payout. In that instance the punter elected to let it ride rather than cash out, and it paid off big time with a $100,000 win!
So it really comes down to what you can live with and which would be a harder pill to swallow – would you feel worse if you cash out $30,000 and know that you have the money no matter what happens, but didn’t have the confidence in your bet and potentially left $70,000 on the table? Or would you feel worse if you went for the $100,000 and missed, and wind up with nothing?
The top 5 Australian Bookmakers offering multi bets are listed below:
- Sportsbet – Join and get $150 in Bonus Bets*
- William Hill – Join and get up to $250 bonus*
- Crownbet – Deposit $50 get $150 bonus*
- Bet365 – Deposit $200 get $200 bonus*
- Ladbrokes – Get up to $250 bonus matched for your first bet*
*Not available to NSW, WA, SA, VIC. See bookmaker website for full terms & conditions.
Also if you’re interested in reading about the biggest promotional offers for each bookmaker, view our roundup in this earlier article HERE. Alternatively, complete our Sports Survey and opt in to receive promotions from the leading bookmakers.