In the world of sports betting, the most complex bet is probably the Goliath wager. Here we explain the Goliath bet in all its glory.
What is a Goliath bet?
The Goliath bet is a bet that involves you making eight selections from eight different events. Simple so far, right? The complexity is about to arrive.
Once your eight selections are placed, the Goliath bet calculates every possible outcome of your bet with the exception of singles. This means you can win anything from a solitary double pay out up to an eight-fold accumulator win. In total your eight selections have now become a combined 247 individual bets.
To break that down further, it means you have the following bets in place:
1 x eight-fold accumulator
8 x seven-fold accumulators
28 x six-fold accumulators
56 x five-fold accumulators
70 x four-fold accumulators
56 x trebles
28 x doubles
How do I calculate the stake?
Looking at the sheer amount of bets being placed, the staking element of a Goliath bet can cause confusion. It doesn’t need to.
You’re effectively placing 247 bets off the same eight selections. As a result, whatever you enter as your stake gets multiplied accordingly e.g.
£1 stake = £247
£2 stake = £494
£5 stake = £1,235
£10 stake = £2,470
What about the odds?
At a high level, the odds are easy enough to talk through. When you place your Goliath bet you’ll see the potential returns as if every single selection comes true. In that scenario, you’d win all 247 bets and would walk away a very happy punter.
Where that perfect bet doesn’t come off, things get trickier to talk through because it all relates to a) what selections you pick and b) what combinations win.
Let’s look at a simple example (odds stated are as per William Hill).
Liverpool to win at Everton 17/20
Leicester to beat Aston Villa 4/5
Chelsea to beat Southampton 1/2
Tottenham to beat West Ham 8/13
Crystal Palace and Brighton 11/5
Bristol City to win at Barnsley 7/4
Brentford to beat Coventry 7/10
Swansea to beat Huddersfield 11/10
Let’s say that of your eight picks only Chelsea, Tottenham and Brentford win. In an accumulator world, you’ve lost entirely. In a Goliath, that’s not the case. Instead, you would win the following bets:
Chelsea and Tottenham double at odds of 1.42/1
Chelsea and Brentford double at odds of 1.55/1
Tottenham and Brentford double at odds of 1.75/1
Chelsea, Tottenham and Brentford treble at odds of 3.12/1
If you’d used a £1 stake (a £247 outlay) you’d receive £11.84 back. Yes, the scenario above would leave you with a substantial loss, however, you should be able to see how your returns start to rack up based on the more selections you get correct.
Who should place Goliath bets?
First and foremost, those who can afford the stake. For a lot of people they only stake a couple of quid each weekend. That’s fine but even with a measly £0.05 Goliath stake you’re risking over £12.
Assuming you’re happy with the risk side of things then it all comes down to two main things – knowledge and research. If you’ve done your homework and are confident of predicting five, six or even more of your selections correctly then you should come out in a decent position providing you’re not betting on insanely short odds.
A word of caution though, most people who regularly use Goliath bets fall into two categories – a group of friends that share the stake for the potential of mammoth returns or professional gamblers who use the Goliath as one of their well thought out football betting strategies.
There you have it, the Goliath bet explained.
Good luck and, as always, bet safe.