What is a Canadian Bet?
A Canadian bet is a popular wager for horse racing fans. However, horse racing bettors are not the only ones who love a Canadian bet. Fans of other sports can take advantage of the bet type, but for the most part, horse racing is the main sport for this type of bet.
The Canadian bet, also known as a Super Yankee, can seem quite complex. However, with some explanation, you will fully understand this highly lucrative wager.
Canadian bet explained: What is the Canadian bet?
- First off, it is important to explain what is the Canadian bet.
- Simply, it is a wager of five selections consisting of 26 bets.
- The bets break down to:
- 10 doubles, 10 trebles, five four-fold wagers and a five-fold accumulator.
The Canadian bet is similar to the Lucky 31 bet. However, the major difference is the missing five single bets bettors get in the Lucky 31. Those five single bets are placed on each selection. If you are familiar with a Lucky 31, it shouldn't be too long before you get your head around the Canadian. However, unlike the Lucky 31 bet, the Canadian bet isn't a full coverage bet. It still gives bettors a lot of coverage.
To win the Canadian bet, a bettor must have predicted at least two correct outcomes. When a bettor makes a Canadian wager, it is important to note it is a multiple of 26. So, a £1 bet will be a total of £26. It may seem quite high to some bettors that prefer to wager less money. But keep in mind, if the results go your way, you can see thousands of pounds enter your pocket. It is also important to know the Canadian bet can be done for a winner or each-way. If you wager on the each-way bet, the price for the wager will increase from £26 to £52.
Why make a Canadian bet?
The wager is used when all runners have an equal weight in determining the bet's return. The Canadian bet offers excellent returns to those who place the wager and win. The great thing about this bet type is that it can return a healthy sum if only a few of your selections win.
Using the example of horse racing, bettors who choose the each-way Canadian bet can win without their selections actually winning the race. Making an each-way wager using the multi-bet type can be far more lucrative in the long run. You won't have to pick the race winners, but could still see your profits rise during a successful day of horse track betting. Another reason to use the Canadian bet is due to the fact bettors don't have to select longshots for big wins.
This bet type is a great way to try something completely different. If bettors are tired of making single wagers for small returns, the Canadian can offer a fun alternative.
Example of a Canadian bet
Now that you know what a Canadian bet is and why it can be a great moneymaker, let us look at an example of how it works.
For this example, you have wagered on five results all at even odds. The bet is backed at £1, which means you have actually paid £26 for the total stake.
If all five results lose, then you lose the £26 stake. In addition, if one selection is victories and four lose, you lose your £26 stake. If two results win, that means one of the doubles in the Canadian bet wins. However, it will only return £4. Therefore, you have made a £22 loss on the bet.
If three results win, things get better for you. A three-result win means you take home £20. However, you have still lost £6 from the initial stake.
Once you reach four correct results, you begin to see profits. Four wins means a £72 return on your initial £26 stake. You have now made a profit of £46, which is great.
If five results go your way, and you can achieve five wins, then you have really hit the money. Five wins from a £26 Canadian bet at even odds sees a £232 payout. That is an incredible sum, especially when you haven't wagered on longshots. This once again shows just why wagering a Canadian bet can be so lucrative in the long run. If all five wins occur, you have just made a brilliant £206 profit. That isn't a bad day at the bookies.
Sportsbooks and online bookies
Remember that many of the online bookies and bet shops still call the Canadian bet a Super Yankee. You may not realise it when you make your selections, so be aware they are the same thing. Nearly all major sportsbooks and online bookies offer this bet type. Once you make your five selections, just look through the accumulator options and it will be labeled as either a Canadian or Super Yankee.
Now that we have explained what is a Canadian bet, it is time for you to try one. Good luck!