Welcome to horse racing betting
Only ever had a small bet on the Grand National? Or took your mate’s advice and had a flutter on the Gold Cup one year but haven’t bet since? Whatever your experience of betting on racing in the past, here’s your chance to really understand what the major racing betting markets are, how they work and to benefit from some valuable horse racing tips.
Each-Way betting and straight win
Just like in say football where match odds/winner is the main betting market, betting on which horse will win is by far the most popular bet you can have. Pro punters claim this remains the best route to showing a profit. But it’s not the only one.
Each-way betting allows you to be rewarded when your horse runs well but doesn’t actually win. If it’s placed second or third in races of eight or more runners, you’ll be paid out at a fifth of the odds. If it’s in handicap races of 16 runners or more you’ll be paid out each-way, all the way down to fourth place (and in some cases fifth on selected races) at a quarter of the odds.
It’s worth remembering that if your horse wins, you’ll get paid out half your stake at the win price and half of it at the each-way price.
Betting on multiples
We’ve all read stories of a recreational punter winning fortunes from a 50p stake thanks to a huge-priced multiple that came in. A multiple by definition, is made up of at least two selections. Theoretically, there’s no limit on how many selections it can have. The downside to this potentially life-changing method of betting is that one just selection not winning ruins your whole multiple.
An alternative is using system bets. Unlike multiples, one loser doesn’t ruin the whole thing. Rather, the more of them making up your system bet that you get right, the more you’ll win.
Here are some examples:
- Patent– Seven bets on three horses: three singles, two doubles and a treble.
- Yankee– 11 bets on four horses: Six doubles, four trebles and a four-fold accumulator.
- Canadian– Five horses backed across 26 betting combinations.
- Heinz– Six horses backed across 57 combinations.