What Is A Trixie Bet?

A Trixie bet is a bet containing multiples. You are placing a bet on three different selections but placing a combination of four bets in one.  Trixie bets are mainly used in horse racing but can be used in many other sports too.

Unlike an accumulator bet, you don’t need all selections to win to get a return on a Trixie bet. Even If one of your selections doesn’t win, you are still guaranteed a return.  A Trixie bet is often referred to as a cover bet.

In this article you’ll be given information about how a Trixie bet works, how to place one and how winnings are calculated. 

Introduction To The Trixie Bet

There’s no history of the Trixie bet documented anywhere but it’s believed that it came to the fore around the mid 20th century as punters looked for ways to increase their chances of winning.  It’s still going strong to this day thanks to its offering of balancing risk and reward.

As already briefly mentioned, the Trixie is a betting multiple comprising of four bets in total:

• 3 Double Bets
• 1 Treble Bet

A combination type of bet like this can increase your potential profits and you can still win even if one of the bets doesn’t.  These give punters an extra chance to win, unlike accumulators, which return nothing if one part of the bet loses.

How Does A Trixie Bet Work?

A Trixie bet works similar to an accumulator but provides bettors with a layer of protection or a cover bet as it’s also known.

Let’s say you go to Goodwood races for the day and fancy a flutter.  You pick a horse from each of the first three races but as they aren’t certs (there’s no such thing), you decide to try a Trixie bet. You choose the following:

• Horse A to win the 3pm at Nottingham at odds of 5.0 (4/1)

• Horse B to win the 3.30pm at Nottingham at odds of 4.0 (3/1)

• Horse C to win the 4pm at Nottingham at odds of 5.0 (4/1)

By choosing a Trixie, you then make four bet combinations like this:

1. Horse A & B win
2. Horse A & C win
3. Horse B & C win
4. Horse A, B & C win

Each bet within your Trixie works independently from each other so you don’t need all three to win to get a return.

How To Place A Trixie Bet

Let’s look at how to place the Trixie bet with Paddy Power. You’ve decided to bet on First Instinct in the 3pm race at odds of 5.0 (4/1), Pasha in the 3.30pm at odds of 4.0 (3/1) and Robusto in the 4pm at odds of 5.0 (4/1).

The first thing to do is add them to your bet slip, so go to the 3pm and add First Instinct to your bet slip, then leave the bet slip as it is and move on to the 3.30pm and 4pm races and do the same. 

This will give you the bet slip below:

As you can see, at the bottom of the bet slip there is a section for multiples and in particular, a Trixie.  Simply enter your stake here and click on place bets.

Pretty much all bookies operate similarly in that once you have entered your selections, there will be an option somewhere within the bet slip to look at the multiple bets available.

Calculate Trixie Bet Winnings

In order to get any returns from a Trixie bet, at least two of your selections must win to create a winning double.  If only one wins, you lose all of your stake.

So, let’s have a look at what might happen with your selections from Nottingham, First Instinct at odds of 5.0, Pasha at odds of 4.0 and Robusto at odds of 5.0.

Winnings for Doubles

Double 1: First Instinct & Pasha

• Stake x (First Instinct odds) x (Pasha odds) = Returns   
• £1 x 5 x 4 = £20 Return (less £4 stake) = £16 profit

Double 2: First Instinct & Robusto

• Stake x (First Instinct odds) x (Robusto odds) = Returns      
• £1 x 5 x 5 = £25 Return (less £4 stake) = £21 profit

Double 3: Pasha & Robusto

• Stake x (Pasha odds) x (Robusto odds) = Returns     
• £1 x 4 x 5 = £20 Return (less £4 stake) = £16 profit

Winnings for the Treble

• Stake x (First Instinct odds) x (Pasha odds) x (Robusto odds) = Returns     
• £1 x 5 x 4 x 5 = £100 Returns (less £4 stake) = £96 profit

Total Winnings (if all 3 horses win)

• Double 1 + Double 2 + Double 3 + Treble = Returns      
• £16 + £21 + £16 + £100 = £165 Returns (less £4 stake) = £161 profit

You now have the formula needed to calculate potential returns from Trixie bets.  To save time, use the Outplayed Trixie Bet Calculator. This will let you calculate potential winnings on each double and the treble.

When Should You Use A Trixie Bet?

Many bettors use multiples including Trixie bets as part of their betting strategy but what do you need to consider when deciding if it’s the right bet for you?

Confidence

• If you feel pretty confident that three selections have a very good chance of winning but want to reduce your exposure risk, a Trixie bet is a good option.  There’s less risk than a normal treble bet with a chance of getting some money if one of your choices doesn’t win.

High Odds

•  Trixie bets can be particularly attractive when there are higher odds available (with a chance of winning of course). It means you can still get substantial returns from the doubles even if one doesn’t win.

Risk Management

• As with many other strategies involving combination bets, the Trixie gives the chance for you to make profits without your entire bet winning. Whereas, there is no margin for losses with double and treble bets. A Trixie gives you an extra element of security.

Variance & Diversity

• Variety can enhance your long-term profits. Rather than using straight trebles or doubles, using multiples such as the Trixie gives you the chance to mix things up a bit and spread your risk. 

Budget

Never forget that a Trixie bet requires four times the stake you enter. Whilst that may mean larger stakes than say a treble, it also has the potential to offer very good returns provided your budget allows.

Pros & Cons Of Trixie Bets

Trixie bets are a popular type of bet in sport and in particular, in horse racing.  Let’s have a look at the main advantages and disadvantages of using them.

Pros

• Because you have four bets across three selections, your chances of winning are better than placing a single bet.

• Even if two of your selections win, you can still win money.

• If all of the choices in the Trixie win, the returns can be very substantial.

• Less risky than standard accumulator bets.

• Trixie bets can add a bit of excitement as you are watching out for multiple outcomes.

Cons

• Can be a bit confusing for less experienced bettors.

• The stakes are higher than a normal bet as you are backing four outcomes.

• Betting on favourites or low odds horses can decrease profits.

• Whilst there is potential for bigger wins, due to the increased stakes, losses can be more than placing single bets.

Mistakes To Avoid When Doing A Trixie Bet

Using Trixie bets as part of a strategy can be a good thing but there are some things to watch out for so you don’t hamper your success:

• Knowledge – Make sure you understand the structure of a Trixie bet before jumping in.

• Research – As you might with a normal bet, make sure you analyse things such as horse form, jockeys and trainers to avoid making poor selections.

• Value – always evaluate the odds on offer and possible returns. Betting on low odds might not return a profit even if two of your selections win.

• Funds – Make sure you set yourself a budget and stick to it. Stay disciplined for long-term goals so you don’t get carried away.

• Discipline – Stick to a strategy and don’t follow hunches.  Also don’t throw money at more bets to chase losses.

What Are The Best Markets For Trixie Bets?

Without doubt, Trixie bets are used mostly on horse racing markets. This is mainly because of the vast amounts of races and opportunities there are to get good value.  However, most bookmakers offer Trixies in other sports markets too.  Greyhound races, tennis and football are amongst the other sports you can use them on.

The method of placing the Trixie is very similar with all sports and bookies. Here is an example of football Trixie on Bet365. You need to select your three choices as normal, then click on the ‘More Multiples’ option and you will see the Trixie option. 

Summary

You’ll now understand how a Trixie bet is one of many multiple type bets bettors can use and comprises four bets in total, broken down to three doubles and a treble.  It can be used as part of a betting strategy to help bettors reduce risks whilst still looking for that big win. The fact that it covers multiple outcomes adds some security to the bets.  It’s also worth considering when you might have high confidence in a few selections and the odds are slightly larger.