An ordinary Yankee Bet includes 11 bets on four selections which are used in six doubles, four trebles, and a four-fold accu. The bet is popular in many sports, especially horse racing. It comes in two variants, and the other one is called Super Yankee Bet.
The amount of money you can win through this bet mostly depends on the number of selections that you manage to win and their odds. To get a theoretical return, you need to win at least two selections since there are no single bets.
The main advantage of the standard Yankee bet is the way it can differentiate the risk of one selection losing in multiple bets. When losing on a standard accumulator, you usually lose everything if you fail just at one selection. On the other hand, players who are confident enough and believe that most of their selections will win should definitely try the Yankee bet as it boosts the chances to get a positive return.
However, there is also a disadvantage for a Yankee bet. It does need you to consider a higher stake since there are 11 bets and not one. In other words, you need to consider if the fact that the chances for winning are increased and worth placing your stakes higher.
Finally, you can try the Each Way Yankee bet which consists of 22 bets instead of the 11 described above. Make sure to plan your budget for this one as it involves stakes which are twice the size.