What is a Goliath bet
Goliath bets fall into the category of “Full cover bets” as it offers the punter full coverage on all combinations of multiples. A Goliath consists of 8 selections that form 247 separate bets. 28 doubles, 56 trebles 70 fourfold accumulators, 56 fivefold accumulators, 28 six fold accumulators, 8 seven fold accumulators, and an eight fold accumulator. In order for the bet to have a return at least 2 selections must win.
Bookies that offer Goliath betting
Bookmakers love punter that place big multiples, their thinking is that it will be hard for the average punter to find 8 bets that have value and for them 8 bets to win. So any bookie that offers exotic multiples will be silly to miss out on the daddy of all multiples, the 247 bet goliath.
Obviously you need to check which betting site is offering the best odds, but we recommend you start with looking at the following bookies for your Goliath punt.
With a Goliath bet only a mad man would calculate it by working out all 247 combinations separately and adding them together. In fact if this was the only way to settle this type of bet you could be sure that it would never have come in to being. Because bookies didn’t always have computers and calculators to do the work for them, and at the birth of full cover combination bet like this it was often done by hand by a member of staff.
Fortunately a much simpler method of settlement of combination bets was devised when the first commonly punted bet of this type, the Yankee, arrived on the scene. This method was easily extended to full cover bets of any size.
To arrive at a more punter friendly equation for working out Goliath’s you need be able to understand the process of multiplying out brackets. But don’t worry if you don’t have this knowledge as this is only needed if you wish to see how the equation is derived. To use the equation the only skills you need is addition, subtraction and multiplication, which even a child should have. Obviously if this is even to taxing you just need to fill in the details of your Goliath bet into our betting calculator.
As we have stated above all full cover bets use the same equation with minor alterations based on the number of selections the bet has. So to make it easy to see how the equation is derived the smallest of all the full cover bets, the Trixie, will be used as an example. Starting with a very basic bracketed equation with 3 variables to represent each sporting selection then multiplying out the brackets you get
(A + 1)(B + 1)(C + 1) = ABC + AB + AC + BC + A + B + C + 1
Other than the trailing section of the equation it is exactly what we’d need to calculate a Trixie bet using the long winded method of calculating each accumulator separately. So if we were to subtract that section we would arrive at the desired equation.
(A + 1)(B + 1)(C + 1) – (A + B + C + 1) = Winnings
This assumes you will be betting one unit stake. If betting more that this simple multiple the formula by the amount bet
((A + 1)(B + 1)(C + 1) – (A + B + C + 1)) * Stake = Winnings
Now for a Goliath bet all that needs to be done is add an extra variable for each extra select in the bet. So as a Goliath has 8 separate sporting events with in it that means we need 8 variables
((A + 1)(B + 1)(C + 1) (D + 1)(E + 1)(F + 1) (G + 1)(H + 1) – (A + B + C + D + E + G + H + 1)) * Stake = Winnings
Before reading the calculations sections I bet you’d never thought about working out a Goliath bet and always just accepted what the bookie paid out, even if you thought they might have made a mistake. Well now you’ve seen how easy it can be lets have a go at an example.
For this example all betting selections will have won and it will be a straight win Goliath bet. Your stake is £0.50p. Remember that this is not the total amount you will hand over to the bookie. A Goliath bet is 247 bets, so a 50p stake will be a total of £123.50. Picking a couple of winners out 8 bet will give you a return, but many times this will not cover your original stake so you will be looking to get several winning selections when doing this type of bet.
Amazingly your 50p winning Goliath has all individual odds of 3. Filling this into the equation you get
((3 + 1)(3 + 1)(3 + 1) (3 + 1)(3 + 1)(3 + 1) (3 + 1)(3 + 1) – (3 + 3 + 3 + 3 + 3 + 3 + 3 + 1)) * 0.50
This works out as a total return of £65,511. So although the original out lay for a Goliath bet is a big chunk of change the potential returns can be extraordinarily large even without selections with high odds.
The above example used the risk adverse method we already mention. Now to show you the difference in pay-out between this betting system and a more aggressive Goliath bet we’ll show an example using exactly the same selections but moving the highest odds selections into the middle of Goliath. This time the order of your bets odds are 1.5, 2.2, 3, 8, 9 and 2. Now fill these odds into their required slot in the equation you get.
(1.5 + 1)(2.2 + 1)(3 + 1) – 1 +
(8 + 1)(9 + 1)(2 + 1) – 1 +
(2.2 + 1)(3 + 1)(8 + 1)(9 + 1) – (2.2 + 3 + 8 + 9 + 1) +
1.5 * 2.2 * 3 * 8 * 9 * 2
Now the sum of this equation is £2854.40 which is a massive difference in pay-out compared to the first bet even though both bets are Goliaths and both have the same selections. But remember the higher pay-out comes with a higher risk, although the chances of all six winning is the same, it’s when one or more of your selections lose your betting returns will suffer. This is because the loser are more likely to come from the middle section and will reduce the pay-out of 3 of the combination bets, whereas placing the higher priced bets on the outside of the Goliath only 2 of the combination bet will be hit with losing selections.