A ladder bet, also known as a “stairway bet,” is a type of accumulator bet that is commonly placed on horse racing, but can also be used in other sports. It is a series of bets that increase in stake after each successful win, resembling a ladder in terms of the increasing structure of the stakes.
Here’s how a ladder bet typically works:
1. **Base Stake:** You start with a base stake, which is the amount of money you are willing to bet on the first selection.
2. **Number of Selections:** You choose a number of selections (usually between 2 and 8) on which to place your ladder bet.
3. **Stake Increase:** For each subsequent selection that wins, the stake for the next bet increases by a predetermined amount or multiplier. For example, if your base stake is $10 and the agreed multiplier is 2, then if your first bet wins, the second bet will be $20, the third will be $40, and so on.
4. **Accumulation:** If all selections win, the returns from each bet are rolled over to the next bet, which can result in substantial winnings.
5. **Non-Runners:** If one of your selections is a non-runner, the bet will usually be settled as if that selection had lost.
6. **Risk:** It’s important to note that ladder bets can be risky because if any selection loses, the entire bet loses. There is no consolation payout if some selections win and others lose.
Ladder bets can be quite complex and are generally suited to experienced gamblers who understand the risks involved and are looking for a high-risk, high-reward betting strategy. It’s crucial to manage your bankroll carefully when placing ladder bets due to the potential for large losses.