Canadian
Any bet is a procedure whereby the bettor will wager a certain amount of money or goods on a predicted outcome of an event in the hope of getting an increase in the money or goods back should that predicted outcome materialise. There are a great many different types of bet and multiple bet options whereby the bettor will increase their chances of a return or increase the amount returned. A Canadian is a multiple betting option based on a series of combinations on five separate events.

Canadian, inside rail Gambling and betting is integral to many sports and events in the financing and promotion of that sport or event as well as the enjoyment and participation of it by the consumer or audience. There are two basic types of gambling, in which money will be staked. The first is games of chance such as the National Lottery or Bingo, where the outcome is decided on an equal probability for every ticket or bingo card. A second type is when different outcomes have different probabilities such as with a football match, a TV talent show, or a horseracing event.

In these cases, each outcome has a certain respective value and these are the fixed odds as predicted by the bookmaker to the bettor. In order to place a Canadian bet we need to understand how these odds work and how to use them in our favour in an accumulated bet.

Different countries represent the fixed odds in different ways. In the UK, they are presented as fractions, such as 3/1, which would be spoken as 'three to one', and often written 3 to 1. If a horse is priced at 3 to 1 to win a certain race then for every £1 you bet on that outcome, should the horse win then you will get £3 back, plus your initial stake, £4 in total. In terms of probability, for every four bets at 3 to 1 you place you will likely get one return, i.e. if you staked the same amount at the same odds you would require one win in four to break even.

Odds represented in this way are sometimes described as 'odds against' to distinguish them from 'odds on'. 3 to 1 odds on is actually 1/3 whereby you would need to wager £3 to get £4 back (£1 winnings plus your stake).

This would usually be written as 1/3 and described as '3 to 1 on'. Clearly the shorter the odds and less of a potential return denotes a greater likelihood of that event occurring and so we get the term 'odds on favourite' to describe a participant who will very likely win the contested event.

In continental Europe and other places such as Australia and Canada, from where, unsurprisingly, the Canadian is derived, the odds are represented as decimals and based on the initial stake. So 3/1 with a stake of £1 is represented as 4, which is the sum of your stake and winnings. In the case of 1/3, based on a £1 stake the decimal odds are 1.3. Although fractional odds dominate in this country, sometimes decimal odds are used too, particularly in digital betting machines and so it is always a good idea to be familiar with both. 		Canadian, winner

It is also a good idea in terms of a Canadian because decimal odds make it easy to work out your potential returns. The bet is comprised of a series of accumulators. Based on five distinct events, 26 different bets covering all possible permutations are placed: 10 doubles, 10 trebles, 5 fourfold accumulators and one fivefold accumulator. For each accumulator to pay out requires all plays within it to succeed, i.e. for a double, both must win, for a treble, all three and so on. For the Canadian to pay out a minimum of two selections must win, e.g. one of the doubles and one of the trebles.

Canadian, photo finish The return on any winning accumulator is the product of each play within it so a fourfold accumulator comprised of four plays each with the odds of 3/1represented as decimal odds would be 4 x 4 x 4 x 4 = £256 return based on a £1 stake on each play.

So for a Canadian to pay out at least any two of the combinations of accumulators must win and so the there are a great many ways to get a payout using this type of multiple bet.

Multiple betting systems like this offer more flexibility in choosing the individual events on which to place the bet when compared to a stand-alone accumulator. For a single fivefold accumulator to pay out all five plays must win or you get nothing.

In this respect accumulators are best comprised of all events with short odds, where a single bet would not return much but would increase significantly when accumulated with the others. Introducing a long odds bet into an accumulator will generate much better returns if it wins but the odds are long for a reason and it is more likely to wreck the bet.

Since within a Canadian, all permutations of the five bets are covered and it pays out on any two combinations then it is sometimes worth taking a chance on a longer shot to include as one of the five. Multiple betting combinations like this offer a way to increase our enjoyment of betting by offering a greater number of betting options and chances to win.