Welcome to our Goliath bet calculator which has been developed to high standards to be adapted to Canadian bettors. In this calculator, you will find different formats (decimal, fractional and American), as well as other options, such as each way, dead head rule, and other personalization that you can do to your Goliath calculations.
For those who are not very familiar with the concepts of a Goliath bet, let’s clarify some key information before you do your bets.
What is a Goliath Bet?
A goliath bet involves 1 wager spread across the different combinations of multiple bets across 8 selections. In total, there are 247 different bets.
Components of a Goliath Bet
In total, there are 247 different bets across the different combinations across the 8 selections:
- 28x two pick parlays
- 56x three pick parlays
- 70x four pick parlays
- 56x five pick parlays
- 28x six pick parlays
- 8x seven pick parlays
- 1x eight-pick parlay
Origin of the Name
The term Goliath comes from the story of David and Goliath. Furthermore, a goliath is something that represents strength and size – similar to the bet which includes an extensive amount of bets across the 8 selections.
In general, it is the biggest bet sportsbooks may offer, though some companies do offer a super goliath which includes 1 more selection
Popularity in Canada
A goliath isn’t exclusive to any singular country, they are utilized across varying sports betting markets across the world.
Nevertheless, Goliath bets have gained widespread popularity not only in Canada but also in numerous other countries around the globe.
These multi-leg bets are increasingly utilized in diverse sports betting markets, offering bettors an exciting and potentially lucrative opportunity to amplify their winnings.
One of the primary reasons for the surging popularity of Goliath bets is their potential to amplify winnings. With Goliath bets, bettors can combine multiple selections into a single, comprehensive wager, resulting in significantly higher payouts if all their predictions are correct.
Moreover, Goliath bets a level of risk mitigation due to their inclusion of numerous individual bets. This means that, even if one or more predictions within the wager do not pan out, bettors still have the chance to secure returns from the successful predictions, minimizing potential losses and adding a layer of security to their betting strategy.
Another reason for its popularity is that it can be used across a wide range of sports and events. Whether it’s football, basketball, horse racing, or any other popular sport, Goliath bets offer an opportunity to engage with multiple fixtures simultaneously, adding excitement and complexity to the betting experience.
As well, it is popular among Canadians because of the growing availability of online sports betting sites in Canada which has made Goliath bets easily accessible to a broader audience. These platforms provide intuitive interfaces, enabling bettors to create and customize their Goliath bets effortlessly.
How Does a Goliath Bet Work?
The 247 bets that a Goliath bet contains have, each of them, an equal stake.
This offers a wide range of potential outcomes and turns Goliath bets into an exciting choice for Canadian players.
To better understand how a Goliath bet works and calculate potential returns, you can utilize our free Goliath bet calculator specifically designed for Canadian players.
But let’s explore our way out to this topic in a way that you can easily understand it.
The potential returns from a Goliath bet are determined by adding together the winnings from the 247 different bets. This means that if you have multiple successful selections, your returns can increase significantly. It’s important to note that the final payout will depend on the odds associated with each individual bet within the Goliath.
To illustrate, let’s consider an example: Suppose you place a Goliath bet with a total stake of $10 and each individual bet has odds of 2.0. If six of your selections win, the calculation for potential returns would be as follows:
- Each winning selection is treated as a single bet, so you would have 6 winning bets.
- The potential return from each winning bet is calculated by multiplying the stake by the odds: $10 x 2.0 = $20.
- Finally, the total potential returns would be the sum of the returns from each winning bet: $20 x 6 = $120.
Remember, this is just an example, and the actual potential returns will depend on the odds and the number of successful selections you have. Our Goliath bet calculator can provide you with accurate calculations based on your specific choices and stakes.
Risk and Reward
The Goliath bet offers both risk and reward for Canadian players. One of the risks associated with this type of bet is the higher stake required to cover all 247 selections. It means that you need to invest a larger amount upfront compared to other bet types.
However, the potential reward can be substantial due to the sheer number of selections and the accumulating nature of the bet.
The reward of a Goliath bet becomes apparent when multiple selections win. If you have a considerable number of successful outcomes, your returns can be significantly higher compared to other bet types.
Comparisons with Other Bet Types
When comparing a Goliath bet to, for example, a single bet, the Goliath has more potential to return a better payout if numerous selections win. In a single bet, you place a wager on a single outcome, whereas a Goliath bet allows you to cover a broader range of possibilities.
However, it’s important to note that if all selections in a Goliath bet were to win, a parlay bet could potentially offer even higher returns.
One advantage of the Goliath bet is that it guarantees a return if at least 2 selections win. This is due to the inclusion of 28 two-pick parlays within the bet. Even if some selections do not result in a win, you still have a chance to receive a payout, making it a more forgiving option compared to other bet types.
So, as you can see, a Goliath is a complex type of bet, with an interesting possibility of payouts, but it is also costly compared to other types of bets.
How to Use the Goliath Bet Calculator?
Our Goliath calculator is simple to use:
- Step 1: Add all selections odds.
- Step 2: Select won, lost or void on each bet.
- Step 3: Enter the desired wager.
- Step 4: Analyse payouts and compare them to other bet types.
To check and compare to other types of bets, we encourage you to use our overall sports betting odds calculator.
Tips for Maximizing Accuracy
The accuracy of the information you input is vitally important to get an accurate return. So, double-check the odds inputted as well as the odds available/placed with the sportsbook company to make sure there are no mistakes.
Advantages and Disadvantages of Goliath Bets
Let’s talk about the advantages and disadvantages that a Goliath bet carries in it.
Advantages of Goliath Bets
There are many advantages to using a Goliath bet such as
- Potential for significant returns.
- Diverse coverage of bet types.
- Flexibility in selections – you can choose 8 selections.
Disadvantages of Goliath Bets
The main disadvantage to a goliath is that it is costly to place due to the number of bets it involves. To give you a dimension of how costly could be, a $1 goliath per line, for example, would cost you $247 dollars total.
Goliath Bet Examples
Let’s say you were interested in placing a Goliath bet on eight ice hockey games in the NHL. Here are your selections and their corresponding outcomes:
- Selection 1: Toronto Maple Leafs to win
- Selection 2: Montreal Canadiens to win
- Selection 3: Vancouver Canucks to win
- Selection 4: Edmonton Oilers to win
- Selection 5: Calgary Flames to win
- Selection 6: Winnipeg Jets to win
- Selection 7: Ottawa Senators to win
- Selection 8: Vegas Golden Knights to win
Based on these selections, here’s how the Goliath bet would be constructed:
28x 2 pick parlays: This includes all possible pairs of the eight selections, resulting in 28 individual double bets.
- 56x 3 pick parlays Trebles: This covers all possible combinations of three selections, resulting in 56 individual treble bets.
- 70x Four pick parlays: This covers all possible combinations of four selections, resulting in 70 individual fourfold accumulator bets.
- 56x Five pick parlays: This covers all possible combinations of five selections, resulting in 56 individual fivefold accumulator bets.
- 28x Six pick parlays: This covers all possible combinations of six selections, resulting in 28 individual sixfold accumulator bets.
- 8x Seven pick parlays: This covers all possible combinations of seven selections, resulting in 8 individual sevenfold accumulator bets.
- 1x Eight pick parlays: This is a single bet that combines all eight selections into one accumulator.
Each individual bet within the Goliath bet carries its own odds, and the potential returns would depend on the specific odds and outcomes of each selection.
Remember that a Goliath bet requires a larger stake due to the significant number of individual bets involved. It’s essential to carefully consider your selections, conduct thorough research, and practice responsible bankroll management when placing a Goliath bet or any other type of multiple bet.
Strategies for Goliath Betting
As you know, Goliath bets can offer large returns, but they also involve a high level of risk -mainly due to its high price -, and require a strategic approach. Here are some strategies that can help you when placing Goliath bets.
Understand the Odds
The first step in any Goliath betting strategy is understanding the odds. It’s crucial to note that while a Goliath bet increases your chances of winning, it doesn’t change the underlying odds of the events you’re betting on. Carefully consider the odds of each event before including it in your Goliath bet.
Choose a Balanced Mix of Favourites and Underdogs
When choosing the events for your Goliath bet, consider a mix of favourites and underdogs. Favourites can provide a solid foundation for your bet, while successful underdog bets can greatly increase your potential returns.
Follow the Sports Closely
Keeping up with the latest news, stats, and trends in the sports you’re betting on is essential. This will help you make informed predictions and choose the best events for your Goliath bet.
Choosing the Right Events
Choosing the right events for your Goliath bet is crucial. Here are some tips to help you make the best choices.
Look for Value
It’s not just about choosing events that you think will win – it’s about finding events where the odds are in your favour. Look for bets that offer good value, which means the potential returns are worth the risk.
Consider the Sports and Leagues
Different sports and leagues may offer better opportunities for Goliath betting. For example, sports with a high-scoring frequency, such as basketball, might be more suited to Goliath’s bets than low-scoring sports like soccer.
Managing Your Bankroll
Bankroll management is critical when placing Goliath bets, as they require a larger stake than most other types of bets. Here are some tips to help manage your bankroll effectively.
Set a Budget
Decide in advance how much you’re willing to risk on your Goliath bet. This should be a sum that you’re comfortable losing, as there’s always a risk in betting.
Don’t Chase Losses
If a Goliath bet doesn’t go your way, it can be tempting to try and win back your losses with another big bet. However, this can quickly deplete your bankroll. Instead, accept the loss and focus on making better predictions for your next bet.
Successful betting often requires patience. Don’t rush into placing a Goliath bet – take the time to carefully consider your options and make informed decisions.
Frequently Asked Questions
Here are some of the most commonly asked questions about Goliath betting and the Goliath bet calculator.