Goliath by name, Goliath by nature. If you’ve stumbled across these bets in the past, you may have an idea of how vast and extensive they truly are. But if not, and in case you are wondering what Goliath means in betting, you’ll enjoy the detailed breakdown right here. However, before I provide such a breakdown, you should know that these are some of the more complex sports betting wagers that exist today. So before you dive into the world of Goliath bets, you should make absolutely sure that you know what you are doing.
On that note, my goal today is to help you establish the level of confidence necessary to go ahead and make Goliath sports bets. At the same time, I wish to provide a comprehensive explanation that is simple enough for everyone to understand – regardless of familiarity with these wagers or experience levels. And since there are various components to get through on this subject, why don’t we get started immediately?
Goliath meaning in betting – a quick overview
It makes sense to begin with a general overview of what these wagers consist of before we get into the main course. So, right off the bat I can tell you that Goliath bets are made up of 247 individual wagers, spread throughout a total of 8 selections. Such wagers can also be called ‘full cover’ bets, and they are commonly associated with sports like horse racing and football. As for what these 247 individual wagers are made up of, this is where things get a little more complex. However, once you know what each of the eight selections consists of, you can start to break it down and gain a better understanding of Goliath wagers.
So on that note, let me show you the breakdown of these bets now:
- Doubles – 28 bets
- Trebles – 56 bets
- Four-folds – 70 bets
- Five-folds – 56 bets
- Six-folds – 28 bets
- Seven-folds – 8 bets
- Eight-folds – 1
Add all of these individual wagers together, and you get a total of 247 bets – hence the name, ‘Goliath bets’. And just to clarify, each of these sections works as its own accumulator, which means that these respective bets are subject to the same rules and restrictions as standard accumulators.
Additionally, you should know that at least two portions of Goliath bets need to win for the wager to produce any return at all. This means that if just one of the accumulators wins, you’d still get nothing for your overall wager. As for some finer details of Goliath wagers in the world of sports betting, these are discussed in the next section.
What does Goliath mean in betting – the specifics explained
As you now know, the meaning of ‘Goliath’ in sports betting relates to a specialized type of wager commonly applied to football or horse racing. But with 247 bets in total, split into unique types of accumulators to make up the full wager, there are obviously more moving parts to comprehend compared to most wagers. Therefore, I’d like to explain a few other elements relating to Goliath betting right now.
Understanding the total stake
First and foremost, it’s critical that you understand how the total stake is applied to Goliath wagers. And the good thing about this wager is that it’s pretty easy to grasp. Basically, when you add all selections to a Goliath bet, there is no option to apply individual bets of different sizes. So whatever stake you choose – this applies to all of the 247 portions of these bets. For example, if you choose to wager £1, your total stake would be £247.
Why people make Goliath bets
As specialized as Goliath betting markets are, you may still be wondering – why do punters make such bets anyway? Well, there are a few reasons behind the popularity of Goliath markets. For starters, Goliath bets provide some degree of protection compared to traditional accumulators. In a standard accumulator, unless all of your selections win, you don’t get anything in return. But with Goliath betting markets, as long as two portions of the bet pull through, you’ll still get something – although you won’t always be in the green.
Secondly, Goliath wagers have the potential to yield enormous returns if you get lucky. And yes, I say ‘lucky’ as accumulators always require a degree of luck to pull through. And lastly, since these wagers are so crazy, they create a type of wager that is far more exciting when compared to traditional bets.
The potential returns of Goliath wagers
To thoroughly explain the potential returns of Goliath bets, I figured it would be useful to provide a hypothetical example. So in the example below, I will assume that all markets have 3/1 odds, purely for simplicity, and that the total wager is £247 – 247 x £1. Here’s what such a wager would look like when applied:
- 0/1 selection wins – £247 total loss
- 2 selection wins – £16 payout, £231 total loss
- 3 selection wins – £112 payout, £135 total loss
- 4 selection wins – £608 payout, £361 total profit
- 5 selection wins – £3,104 payout, £2,857 total profit
- 6 selection wins – £15,600 payout, £15,353 total profit
- 7 selection wins – £78,096 payout, £77,849 total profit
- 8 selection wins – £390,592 payout, £390,345 total profit
As you can see with this example, the increase in potential winnings is astronomical once you move into the green zone, meaning the outcomes that generate an overall profit. However, it’s tough to bring such possibilities to life given the nature of Goliath wagers – but that doesn’t stop us from trying!