Lucky 15 Bets Explained

The way lucky 15 bets work is that multiple bets are placed on the four race winners:

• 4 single bets are placed on each individual horse to win in their race.
• 6 doubles are placed, betting on horses 1+2, 1+3, 1+4, 2+3, 2+4, and 3+4.
• 4 treble bets are placed on horses 1+2+3, 1+2+4, 1+3+4, and 2+3+4.
• Finally, 1 bet is placed on all horses, which is called a four-fold bet.

To place a $1 bet on the Lucky 15 means that the bettor should place a total stake of $15, which is $1 for each of the bets.

Here is an example of how a Lucky 15 bet can be placed

• Horse A to win at odds 3.2
• Horse B to win at odds 4.0
• Horse C to win at odds 3.6
• Horse D to win at odds 4.2

The single bets will pay out at

$3.20 (A) + $4.00 (B) + $3.60 (C) + $4.20 (D)

The double bets will pay out at

$12.80 (A+B) + $11.52 (A+C) + $13.44 (A+D) + $14.40 (B+C) + $16.80 (B+D) + $15.12 (C+D)

The treble bets will pay out at

$46.08 (A+B+C) + $53.76 (A+B+D) + $48.38 (A+C+D) + $60.48 (B+C+D)

The fourfold bet will pay out at

$193.54

Altogether this means that the Lucky 15 bet can potentially win $501.32. If the same stake of $15 was placed over the four single bets, at $3.75 each, they would pay out winnings of $12 + $15 + $13.5 + $15.75, for a total of $56.25. The difference between the profits of both systems is massive, which is why many bettors prefer to try their luck with the Lucky 15 bets.

What Happens When One Horse Loses?

The margin of profit can change drastically if one or more of the horses fails to win. When one of the horses loses, 1 of the single bets loses, 3 of the double bets lose, 3 of the treble bets lose and the fourfold bet loses as well, meaning instantly 8 of the 15 bets will be lost.

If horse A loses, then only the following bets pay:

$4.00 (B) + $3.60 (C) + $4.20 (D) from the single bets

$14.40 (B+C) + $16.80 (B+D) + $15.12 (C+D) from the double bets

$60.48 (B+C+D) from the treble bets

The profit here is only $118.60, which is a huge decrease from what all 4 horses winning would have brought in. However, the winnings are still noticeably higher than the $44.25 that the single bets would have brought if the same sized stake was placed and horse A lost.

What Happens When Two Horses Lose?

If two of the horses lose, then the profits will be even further reduced; 2 of the single bets will be cancelled, 5 of the doubles bets will be cancelled and all of the treble bets and the fourfold bet will also be lost, meaning that only 3 of the original 15 bets will pay out, which is 4 less than would have paid if only one horse failed to win.

If horses A and B both lost, then only the following bets would pay

$3.60 (C) + $4.20 (D) from the single bets

$15.12 (C+D) from the double bets

This means that the bettor is left with $22.92. The individual bets would have brought $29.25, which is larger than the amount that the Lucky 15 bet would have brought in winnings had two horses failed to win.

What Happens When Only One Horse Wins?

The worst case scenario would be if all of the bets lost, but if only one bet was to win, it is still not disastrous for the punter. The only bet from the 15 that would pay is the single bet on that particular race.

If horses A, B and C all failed, then the single bet on horse D would win, offering the punter winnings of $4.20. This returns part of the initial stake and leaves the bettor with at least something.

Needless to say, with an individual bet the payout would be higher, at $15.75, and in this scenario the punter would have won back a larger amount than they had staked. In other scenarios, the bettor may not be as fortunate. For example, if horse A was the only winning horse, the bettor would only have $12.

Why Are Lucky 15 Bets Popular?

Lucky 15 bets offer huge payouts and, as seen in the example above, there is still coverage should one or two of the bets fail to win. As such, they have a big advantage of parlay bets, which offer zero returns if any of the picks proves to be incorrect.