How to Bet on Horse Racing
Horse racing is a thrilling sport watched by millions of fans around the world. Whether or not you are at the track or watching from home, it’s an exciting spectacle not to be missed. Lots of people like to add to the drama by having a bet on a horse and maybe even win some money too. But if you’re new to the sport or never placed a bet on a horse race before, don’t worry, here’s our step-by-step guide to help.
Sportsbook
The easiest and best way to lay a bet is to use a reputable online sportsbook such as 888 Sport. When it comes to horse racing betting, 888 Sport makes sure they always offer competitive odds in horse racing, as well as lots of different markets. So, whether you’re interested in National Hunt season in the UK, the Kentucky Derby in the US or the Prix de l’Arc de Triomphe in France, they have it covered.
With prices and markets available for some of the most prestigious international races in the sport, plus an ingenious iCard tool offering plenty of added insights, and a wide range of festivals and events to wager on, 888 Sport is a great place to start your horse betting journey. Even better, setting up an account couldn’t be easier and takes no time at all.
Types of Bets
Now you are signed up to a sportsbook it’s time to place your bets, but the different types available and all the racing jargon, it can be confusing if you’ve never done it before. Below we list the most common horse race bets.
Each-Way or Place (E/W)
A lot of newcomers to horse racing like to place each-way bets. It is a two-part bet with half the stake going on the horse to win and the other half on the horse to place.
Each-way or place, means your horse will finish the race in 1st, 2nd or 3rd position. Sometimes places can go as far back as 6th position depending on the race type and the number of runners.
For example:
A race has 10 runners and place terms of 3 places at 1/5 odds and a horse is 20/1 to win the race.
If you place a £10 E/W bet, you are staking £5 at odds of 20/1 on your horse to win, and £5 at odds of 4/1 (1/5 of 20-1) for the horse to place in the top 3 positions.
If your horse is victorious, you win £5 at 20/1 + £5 at 4/1 = £105 + £25 – £10 (your stake) = £120 profit.
If your horse finishes in 2nd or 3rd you lose the win stake but win £5 x 4/1 = £25 (-£10 stake) = £15 profit.
Pro’s:
E/W bets are a great way to increase your enjoyment of a race because your selection doesn’t need to win in order for you to return some money.
Cons:
It costs double the amount of a win bet.
The odds for a place are considerably lower.
Single
This is the most common type of bet there is and it’s also the easiest to understand. Pick the horse you think will win the race, decide how much money you want to stake and place your bet.
Pro’s:
The simplest bet there is. Just pick the winner and cheer them home.
Con’s:
If your horse doesn’t come first, you lose your stake.
Double
A double is simply two single bets on horses in two different races. You must choose two different horses in two separate races and if both those bets win, then your double wins. If one wins and the other doesn’t, then you lose.
Pro’s:
Doubles have larger odds and therefore offer greater returns.
Con’s:
Get the form book out, you’ll need to do your homework.
Treble
Similar to the double, this is a single bet placed on three (treble) outcomes in different races. Remember, all three of your horses must win to guarantee a return on your stake.
Pros:
Bigger odds than a double and therefore bigger potential returns.
Cons:
If just one of your horses loses then your bet is lost.
Yankee
If you’re backing four separate horses and you fancy each of them to win, a Yankee is an easy way of placing multiples to ensure a bigger win if any two, three or all four of your picks are successful.
Pros:
It ignores singles and focuses your stake on more profitable multiple bets, with the potential for bigger returns from smaller stakes.
Cons:
Can seem confusing at first.
Yankees don’t allow you to stake different amounts on the different multiples included within the bet. They all have to be the same.
Accumulator
An accumulator comprises of four or more selections in one bet. All of the selections must win to guarantee a return. In other words, instead of placing 5 bets on 5 different outcomes, you place 1 bet on 5 different outcomes, but if one bet fails then your money is lost.
Pros:
Rewards can be huge from only small stakes.
Cons:
Because the odds are bundled together to create greater value, it means that if one of your horses lose, then your entire accumulator bet loses too.
The Home Straight
Now you know all about the different types of bets and how to set up a sportsbook account, why not check out some of the brilliant horse racing events still to look forward to this year and join in the fun.