What are the different types of bets in sports betting?

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There are various types of bets, all with alternative names and colloquial nicknames depending on location. Some of the most commonly types of bets are:

A single - a bet on an individual outcome, for example, the Carolina Hurricanes beating the Boston Bruins in an NHL match.

A double - a bet on two outcomes, e.g. the Carolina Hurricanes beating the Boston Bruins and the Columbus Blue Jackets beating the Buffalo Sabres.

A treble (or triple) - a bet on three outcomes, e.g. the Carolina Hurricanes beating the Boston Bruins and the Columbus Blue Jackets beating the Buffalo Sabres and the New Jersey Devils beating the Detroit Red Wings.

An accumulator (or parlay) - a linked series of single bets (three-fold, four-fold or more) where all the winnings from the first selection is automatically staked on the second selection and so on. An accumulator continues until all selections have won or until one selection loses in which case the whole bet is lost.

A trixie - a three-event wager comprising of four bets: three double bets and one treble bet. For instance:

• 1 double bet on the Carolina Hurricanes and Columbus Blue Jackets winning
• 1 double bet on the Columbus Blue Jackets and New Jersey Devils winning
• 1 double bet on the Carolina Hurricanes and New Jersey Devils winning
• 1 treble bet on the Carolina Hurricanes, Columbus Blue Jackets and New Jersey Devils all winning.

To gain a return from this bet type, a bettor must successfully pick at least two winning bets

A Yankee bet - a 4-event wager consisting of 11 bets: six doubles, four trebles and a four-fold accumulator. In a Yankee bet, at least two of the four events must be successful to guarantee a return. To make a Yankee, we need a fourth event, say the Philadelphia Flyers versus the Ottawa Senators.

An example of a Yankee bet could be:

• 1 double on the Carolina Hurricane and Columbus Blue Jackets winning
• 1 double on the Carolina Hurricanes and New Jersey Devils winning
• 1 double on the Carolina Hurricanes and Philadelphia Flyers winning
• 1 double on the Columbus Blue Jackets and New Jersey Devils winning
• 1 double on selections Columbus Blue Jackets and Philadelphia Flyers winning
• 1 double on selections New Jersey Devils and Philadelphia Flyers winning
• 1 treble on the Carolina Hurricanes, Columbus Blue Jackets and New Jersey Devils all winning
• 1 treble on the Carolina Hurricanes, Columbus Blue Jackets and Philadelphia Flyers all winning
• 1 treble on the Carolina Hurricanes, New Jersey Devils and Philadelphia Flyers all winning
• 1 treble on the Columbus Blue Jackets, New Jersey Devils and Philadelphia Flyers all winning
• 1 four-fold parlay on the Carolina Hurricanes, Columbus Blue Jackets, New Jersey Devils and Philadelphia Flyers all winning.

Just like a trixie, to gain a return from a Yankee, a bettor must successfully pick at least two winning bets. The more winning bets there are the better the return is for a bettor.