March 14, 2024

Horse Racing Betting Guide

Horse Racing Betting is a ginormous industry in its own right within the betting world. With 100’s of races everyday throughout the world, you’ll never have a problem finding an event to bet on. Due to its popularity, there are several wagers that can be placed on horse racing as well as jargon you might not be familiar with.

Throughout this guide, we will give you a brief intro to everything you will need to know about betting on horse racing.

Horse Racing Betting Explained

Horse racing betting is simply defined as the act of gambling on horse races. Typically punters will be betting on a horse to win the race or finish in the top few positions but due to the evolution of betting markets, there are now several bets that can be placed on horse races. all of these different types of bets will be explained later in the article.

Odds

The odds on horse races have the potential to fluctuate a lot. Maybe more so than the majority of other sporting events. This is because there are several factors that can influence the chances of a horse winning a race. As an experiment, you should watch the market 10 minutes before a race begins up to the point where the race gets underway to get an understanding of how crazy the markets can be.

Odds are formatted in the same way as they would be with almost any other sport. Usually represented as either fractions or decimals. The most typical horse bet will be in the form of fixed odds. These odds are the easiest to understand because when you place a bet with fixed odds your bet will remain the same no matter how the market reacts at a later date.

Punters will also have an option to place an ante-post bet or to place a starting price bet. An ante-post bet can be placed before the horse racing market opens in the hope of backing a horse at a greater vale than it will be closer to the start of the race. While with a starting price you will betting with odds that the horse is set at the beginning of the race.

Starting Price

A starting price or SP refers to the price of the horse when the race gets underway. As touched upon before the odds for a horse race can fluctuate a lot in the lead up to a race and the potential for odds to drift is very high. you will benefit from this type of bet if the odds for the horse you have backed begin to drift.

Handicap

Handicap betting in horse racing is used to bring the whole field closer together. In races where there is a heavy favorite, they might decide to handicap that horse slightly by carrying extra weight allocated by the handicapper. The secret to successful handicap betting is predicting which horses will still be good enough to overcome their handicaps.

Race Cards

Race Cards will be provided for every race and will usually consist of the same information. The most important things being the names of the horses running and their odds. The card should also include the horse’s form and the ground conditions that will be in place during the race.

Form

It is possible to study the form of horses before you place a bet. The form effectively looks into how the horses have performed in previous races. We can use this information to decide what types of bets represent good value. We can also use it to understand which horses have the most experience.

Photo Finish

A photo finish will be needed in the event where the finish is too close to call with the naked eye. In the past, a lot more races were declared as dead heats but with the vast amount of technology available to sport these days, it’s usually very easy to declare a winner even if it’s by the finest of margins. Dead heats do still exist though even with the invention of photo finishes.

Rule 4

Rule 4 is used to shorten the odds of your runner when horses have been withdrawn from a race. This happens because the chances of your horse winning increase because there are fewer runners in the field. In other words, an amount of money is taken away from the balance to make up for the shortened field.

Non-Runner

If there is a non-runner in a horse race this can affect the odds of the horse you have bet on. If the horse you have backed is the non-runner, your bet will consequently be void and your stake will be returned to you.

Timing of Horse Racing Betting

Knowing the right time to place a bet on a horse race will be crucial to your success. The idea wit all betting should be bet with the best odds possible and with horse racing, this couldn’t apply more as the odds can go up and down quite drastically throughout the day.

Ante-Post Betting

In horse racing, an Ante-post bet is a bet placed before the betting market has opened. The major advantage of this is that we can attempt to bet with high odds and watch them shrink as the race gets closer and closer. Unfortunately though unless extremely skillful the cons outweigh the pros. If your horse is a non-runner your bet will not be void.

Starting Price Betting

A starting price or an SP refers to the starting price of a horse when the race gets underway. The biggest disadvantage to this is that you are unlikely to retract any real value as if you place one of these bets you are going to receive the bookmakers’ evaluation of odds at the time its most important.

The biggest advantage of placing an SP bet is when you back a favorite in a race and those odds drift because of events that have occurred in the build-up. This way you will be receiving odds that reflect this. If the odds are shorter you will be missing out on value.

In-Running Betting

In running betting on horses is extremely risky. The odds during a race fluctuate hugely and if your horse appears out of contention your bet will be worth nothing in seconds.

On the plus side, you get to see the action unfold and you can make decisions based on what you are seeing.

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