Lottery Betting Basics – Types, Markets and more

There are three main types of lottery bets.

These types of bets define how the bet is structured, indicating the number of selections involved and resulting in varying payouts.

The three types of bets are

Main Bet Type Description
Single bets


A single bet is the simplest and most common of all bets. It is a bet on one selection taking place in one event. For the bet to be successful and pay winnings, the selection must win/execute prediction.

Note that some markets may have double outcomes required but still be placed in a single bet.

Parlay (accumulator)


Also known as accumulators, combos, or multiples. Any bet containing more than one selection, which can be just one event. A parlay is a single bet containing several selections.

As is the case for double and treble bets (2-selection and 3-selection accas), for a parlay to win, ALL selections in it must be correctly predicted. Meaning if one selection doesn’t turn out correctly and is considered as losing, the entire bet will be lost even if the rest of the selections are winning.

If an accumulator gets a void leg, it gets demoted (e.g., 4-fold will become TBL).

Systems


The basic idea of system betting is to maximize the chances of making a return when backing multiple selections. It is a way to still benefit from the higher payouts that parlays offer, without being exposed to the risk of losing your entire stake if just one of your selections loses. 

You do this by covering your selections in different combinations. In lottery betting, you choose more numbers than needed for forming a single bet, and all possible combinations of those numbers are generated. 

For example, if you choose seven numbers in a 6/49 lottery, multiple combinations of six numbers will be created from your seven choices.


Markets

Bet Type Description
Draw Betting You wager on selected numbers, and if these numbers match the ones drawn in the official lottery, you win a prize. This type of betting adheres to the same rules as the official lottery draw.
Number Betting You wager on one or more certain numbers being drawn in the lottery and winning rewards set by the betting company. The payout depends on the odds of that number being drawn.
Combination Betting You bet on multiple combinations of numbers. For example, if they choose three numbers, they can place bets on different combinations of those numbers being drawn.
Straight/Box Betting You wager on multiple numbers being drawn in the lottery. Straight betting requires a match for those numbers in exact order. Box betting allows You to win if the numbers are drawn in any order.


Some key terms to remember if you want to be the winner

Key Term Description
Jackpot The top prize in a lottery draw, awarded to players who match all the winning numbers.
Draw The event during which winning lottery numbers are randomly selected.
Ticket (betslip) A physical or digital receipt that represents a player's entry into a lottery draw. It contains the selected numbers and is required to claim a prize.
Odds The probability of winning a prize in a lottery draw. It is usually expressed as a ratio or fraction.
Quick Pick A feature that allows you to have numbers randomly selected by the lottery terminal or online system.
Winning Numbers The numbers selected during the draw that determine the winners of the lottery.
Prize Pool The total amount of money available to be won in a lottery draw, which is usually a percentage of the total ticket sales.
Rollover When the jackpot is not won in a draw, the prize money is carried over to the next draw, increasing the jackpot amount.
Bonus Ball An additional number drawn in some lotteries that can increase the chances of winning secondary prizes.
Multiplier An optional feature that increases the value of non-jackpot prizes in some lotteries.

We are committed to delivering an outstanding customer experience. Our dedicated Customer Service Agents are available to assist you from 8:30 am until 12:30 am daily.

Email: help@baroneracing.com
Live Chat: Experience our swift and efficient Live Chat
Phone:

    • Ireland: 042 950 1133 / 042 604 1791
    • UK: 020 3989 8687
    • International: +353 42 950 1133 / +353 42 604 1791
Was this article helpful?