The Lucky 15 bet was invented by Betfred in 1984 (at least if you believe Fred himself) and like its bigger siblings, the Lucky 31 and Lucky 63, is a type of full cover bet with singles, primarily used when betting on horse or greyhound racing. That means it involves multiple selections and every combination of bets, from all the singles through every possibly double, treble and so on, up to one accumulator involving all selections.
All three bets work on the same principles but include the following bets:
- Four selections and 15 bets in total
- Four singles
- Six doubles
- Four trebles
- One four fold accumulator
- Five selections and 31 bets in total
- Five singles
- 10 doubles
- 10 trebles
- Five four folds
- One five fold accumulator
- Six selections and 63 bets in total
- Six singles
- 15 doubles
- 20 trebles
- 15 four folds
- Six five folds
- One six fold accumulator
Usually you would need at least two selections to make a profit and probably three or four on the larger bets, although this would always depend on the exact odds of the horses in question. However, increasingly some bookmakers offer enhanced odds should you only get one winner that can sometimes lead to a profit or at the very least restrict your losses.
Multiples such as these cannot be placed at either betting exchanges or spread betting firms and nor are they a usual feature of parimutuel betting and so for people who like this type of bet a standard, fixed odds bookmaker is the best option. Such wagers are primarily used for horse and greyhound races, although they can be used for any sport or even a selection of sports. It is not uncommon, for example, to try and pick the winner of all four top divisions in English football and combine these in a Lucky 15.
The thing to note is that because each bet is effectively many bets in one (15, 31 or 63 depending which option you go for) your stake is multiplied by the number of bets. So, for example, a £1 Lucky 31 will cost you £31 with £1 on each bet. Should just one selection win – a favourite, say, at even money – your return, barring any bookmaker enhancements, would be just £2, meaning an overall loss of £29. On the upside, should you get all four selections right in a Lucky 15, even if they were all priced at just evens and were not subject to any bonus for getting all selections right, your return would be £80 and a profit of £65 from your total £15 stake.
One final thing to note is that Lucky 15/31/63 bets can be placed as either a win bet or an each way bet and the latter is a good way to hedge your options if you like the luck of some horses at large odds.