What Is A Canadian Bet?
Strictly speaking the Canadian Bet is not one of the popular full cover bets as singles are not included, meaning at least two selections must win to yield a return.
The Canadian remains a very popular bet on the high street and is increasingly so with large internet firms, the bet appearing automatically as an option upon selection of the appropriate number of individual bets on one slip.
The Canadian Bet Explained
The Canadian is also known as a Super Yankee and is simply an extension of the original Yankee bet. The original Yankee is made up of 4 selections while this one simply needs an extra one, taking the overall wager to 26 different bets.
Although it is difficult to predict accurately what effect a losing selection can have on the bet, what we do know is that should any two of the five selections be successful then a return on the investment can be expected.
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How The Canadian Bet Works
When placing a bet with any online firm, the Canadian or Super Yankee will come up as a possible wager as soon as five selections are chosen and placed in one slip under the multiples section.
Placing a Canadian, especially in horse racing when the five selections may run over the course of a number of hours, means our bet can stay alive for the entirety of a sporting afternoon rather than having us lose our money in a matter of moments.
How Many Bets Are There In A Canadian Bet?
There are 26 bets in all in a Canadian, the bet being based on 5 individual selections which are broken down as follows:
10 x doubles
10 x trebles
5 x fourfolds
1 x fivefold
How Are Winnings Calculated?
Should we place a 20p Canadian (total stake £5.20) and three of our selections should win at odds of 2/1, 3/1 and 4/1 then our winnings will be calculated thus:
20p double on selections at 2/1 & 3/1 = £2.40 return
20p double on selections at 2/1 & 4/1 = £3.00
20p double on selections at 3/1 & 4/1 = £4.00
20p treble on all three selections = £12.00
This would give us a total return of £21.40 which is an excellent profit on our original £5.20 stake. As you can see, even at these sorts of prices just two winners would have covered our investment and given us a very small profit although this will not always be the case.
Backing horses at odds-on or other very short prices will almost always lead to a loss on Canadian bets so a chance must be taken on those at bigger odds.
Many online bookmakers will offer bonuses on such wagers however, sometimes as big as 20% which can really boost potential returns, though this sort of offer changes from firm to firm and is not a permanent promotion.
One thing we must always remember when betting multiples like this is to keep unit stakes to a sensible level, i.e. if you were to enter £5 into the unit stake box and click ‘bet’ without thinking, then on a Canadian this would cost you a total of £130, so be careful!