A Yankee bet is another type of ‘full cover bet’. Full covers feature multiple bets over a number of selections. These are placed instead of traditional win-only accumulators to ensure that, even after a loss, the bet can stay alive for longer. These bets are very popular with the everyday punter, especially those following horse racing.
Yankee Bets Explained
The Yankee is made up of 4 selections, the combination being 11 different bets consisting of 6 doubles, 4 trebles and an accumulator containing all 4 selections. There are no singles included in the bet.
How Does a Yankee Bet Work?
Here is a simple table showing how Yankee bets are comprised, with all of the various permutations. Imagine each selection, A-D representing a football team or a horse for example:
Betting sites that offer Yankee Bet
How Are My Winnings Calculated?The Yankee is an easy bet to work out, with only 11 combinations not too many to keep track of. Let’s assume you have placed a £2 Yankee (total cost £22) your selections are priced as follows:
A – 4/1
B – 9/2
C – 6/4
D – 11/10
If only one selection let you down and A, C and D were all successful, you will be paid out on the relevant doubles and the treble. Your total returns (including stake) would be:
Double on A & C: £25.00
Double on A & D: £21.00
Double on C & D: £10.50
Treble on A, C & D: £52.50
At prices like these three winning selections on a Yankee can produce a very tasty return. Returns can often be very low on sports such as football however, when most winning selections will be priced at odds-on which is why these bets are more popular with horse racing punters. Most winning Yankees though pay out way less so expectations must be realistic.
For example, should selections C & D have won only, then the total return would have been only £10.50, meaning that even with 2 winners this bet would have produced a loss of £11.50.
Most bookies, as is the case with most ‘lucky’ bets as well, will pay out bonuses for one or more winners in a Yankee. Some online bookmakers also hand out extra bonuses for backing all 4 winners in a Yankee, though all firms offer different bonuses. Keep an eye on the offers page of your selected bookmaker for more info.
What Is An Each-Way Yankee?Given its popularity the racing punter, an each-way Yankee can also be placed which works just the same way as above, though it will cost 22 times the unit stake rather than 11 as we are effectively betting on both a win and a place for each horse involved. If a horse should win, you will receive your returns for both the win and place sections of your bet. If the horse is only placed, you will receive only that part of your returns.
source - betstudy