Lucky 31 bets seem to cause a bit of confusion among new punters, so this article aims to clear up some that confusion by explaining what they are, how to place Lucky 31 bets and what the pros and cons are.
I’ll start the ball rolling by answering the question ‘What is a Lucky 31 bet?’.
What is a Lucky 31 Bet?
The type of bet known as lucky 31 is a natural progression from the lucky 15, which you may already be familiar with. In any case, it’s a lot less complicated than it appears at first glance, although I would say that you need to have an understanding of some of the basic types of bet that make it up.
The lucky 31 is a result of combining 5 different selections, in 5 different events, into a number of combination bets. The extra selection on top of the usual lucky 15 means that the number of possibilities is increased significantly and the bet breaks down as shown below:
5 singles – These are single bets predicting the outcomes of 5 different events. Often placed on horseracing, other markets are also possible. The normal way of doing it is to place them as ‘win’ bets, but ‘each way’ is also possible.
10 doubles – The 5 singles become 10 doubles. You will receive a payout on this part if at least 1 double wins. Get two, and you are into winning treble territory.
10 trebles – The 5 initial selections are used to create 10 trebles. Same rules apply as with the doubles – you only need one to come in to get a payment on this part, and the more you get the bigger the payout is.
5 fourfolds – The 5 singles become 5 fourfolds in this part. Getting any of these right means you are looking at a very good profit and more is better.
1 accumulator – This pays out if all 5 of your singles predictions are correct. Get this one, and you’ll be laughing all the way to the bank.
Many of the best betting sites also offer a good bonus element, which can be up to 20%, for 5 selections winning. The exception to this is if you have chosen to go ‘each way’ for your singles unless in which case the bonus is usually only paid on the win part of the bet.
How to place a Lucky 31 Bet
I’ve assumed for the purposes of this article that you will be placing your bet online, with a bookie like Betfred. Whether you do it online or in a shop though, the principals are the same and the process is more or less identical.
1. Choose your preferred sport from the menu. Horseracing is good for this sort of bet.
2. Pick the 5 events to bet on – they can be at the same meeting, or different ones, it’s up to you.
3. Make your 5 selections after clicking the ‘create coupon’ icon.
4. On your bet slip, open the ‘Multiple Bet Options’ tab and select the ‘Lucky 31’ option.
5. Click ‘Confirm Bet’. This will place the bet, and you’ll get a receipt confirming it.
To get started I suggest you place a Lucky 31 bet at Betfred.com who are offering all new customers a cracking sign up bonus.
Risks & Rewards of Lucky 31 Bets
You should be aware that placing a lucky 31 bet isn’t exactly a cheap exercise – with 31 bets in total, you are looking at £31 to place it at £1 stakes.
While online bookmakers will often accept less than this, you do need to consider whether the effort that goes into making your selections is worth the lower payout with small stakes.
As it is expensive to place, a series of losers (where you don’t even win on the singles) can result in some large losses and a hole in your bank.
If you are reasonably good at betting though, and have a good record with singles betting, then this shouldn’t be a problem for you.
The idea for this bet, and why it is seen as being good value, is that the singles elements help you to break even or make a small profit while you wait for the combinations to roll in and swell your profits.
Get yourself over to Betfred.com and place your Lucky 31 bet now!