Introduction to Yankee Bets
A Yankee bet is a wager on four selections that includes 11 separate bets. At least two of the four selections must win for any money to be returned. It is similar to a Lucky 15 bet, only without the single bets. Each Yankee bet will cost 11 units to place, and will be divided into 11 separate and equal selections.
Example of a Yankee Bet:
An easy way to think of this bet is to imagine picking 4 teams, A, B, C, and D. This bet consists of these selections:
Double (2 selection) bets on teams
AB, AC, AD, BC, BD, and CD
Treble (3 selection) bets on teams
ABC, ABD, ACD, and BCD
Fourfold accumulator (4 selection) on teams
If only one team wins, none of the above selections will pay out. So you do need at least 2 of the teams to win for a payout to trigger.
Each double bet works like this: you choose 2 teams (A and B). These two teams are “linked” in that you either win both, or collect a payout, or one loses and the bet is a loser. If team A wins, your original stake plus any profits are rolled over and automatically bet on team B.
So, if we have team A at 2/1 odds, and team B at 3/1 odds, it would work this way: 1 unit is wagered on team A at the 2/1 odds and they win. Now you have 3 total units (your original 1 unit and the 2 unit profit). This 3 units is then wagered on team B, and if they win then you win a total of 9 units (3 units wagered at 3/1 odds).
The math is exactly the same for a treble and the fourfold. In this case, all 3 (or 4) teams will have to win, or else the bet loses. Your profits are similarly rolled over until the bet is complete and the payout is reached.
Further Explanation: Higher Odds and Higher Payouts
The payout for your Yankee bet can vary wildly, depending on the odds of the teams you select. If you have a Yankee featuring mostly heavy underdogs, your chances to hit are slim, but the payout will be astronomical if even 2 teams manage to win. Using teams with shorter odds increases the chance of a payout, but also reduces the amount of money that is returned. It is a delicate risk/reward balance that must be considered before placing your bet.
Let’s just take a double and use two examples to explain what a big difference this can make.
In the first double, team A is even money (1/1) and team B is a 3/1 underdog.
Team A wins, and team B also wins, resulting in a payout of 6 units. Not bad, right?
Now in the second double, team A is again even money, but now team B is a whopping 15/1 underdog. After team A wins, your 2 units are then wagered on team B, which wins and nets you a payout of 30 units! Your payday just went from “not bad” to “I’m buying the next round!”
There are various calculators available online that can help you check your odds before placing your Yankee bet. These calculators can come in handy because the odds are not always even (1/1). So if you have a Yankee with various favorites or underdogs involved, you will need to check the odds or figure them out on your own to check your possible payouts.
Be careful when placing your Yankee bet to try and find teams with the best odds possible. Line shopping helps here as well as having a bookmaker that is reputable who will offer fair and honest prices.