Edenthorpe Arena Eventing
Saturday 23 November 2024
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As someone passionate about horses, you might fancy having a flutter on one of the many horse racing events taking place the UK calendar. The first step to betting on horse races is to find the best runners and races to bet on. Websites like oddschecker are an excellent resource for horse racing tips. Then, it’s a case of working out what type of bet or bets you’d like to make and finding a suitable bookie in which to do so. Understanding odds and the numerous types of bets that are available is where beginners can often become stuck. Keep reading for our succinct guide that will have you betting like a pro in no time.
The odds of a horse winning its race are expressed as fractions here in the UK, whereas throughout Europe and at many betting exchanges you’ll see them expressed in decimal form. Fractional odds show how much profit you can expect to make on a bet. For example, if a horse’s odds are set at 2/1, you’ll make £2 profit for every £1 you bet.
Of course, not all horses are given odds of a number to one; it’s not unusual to see horses priced at 5/2, which means you’ll make a profit of £5 for every £2 you bet.
When a horse is a strong favourite to win, you’ll find that it’s priced as the “odds-on” favourite. This means that you’ll have to make a higher bet in order to make a profit; for instance, 1/10 = bet £10 to receive £1 in profit.
We could publish an entire article dedicated to the different types of horse racing bets that you’ll come across but, to begin with, we’ve narrowed things down to the simplest and most beginner-friendly bets you’ll find at a bookmakers.
Single bets are the most common and straightforward to understand. This is a straight win bet, which is placed on a single race.
Double bets are two single bets placed on different races. Like a straight bet, both selections need to win in order to guarantee your return.
Treble bets are three single to-win bets placed in different races.
Accumulator bets are placed on four or more selections to win in one bet.
Straight Forecast is a bet that correctly predicts the winner and second place horse in a single race.
Each-Way bets are likely to be the most complex bets that you’ll make as a beginner. This bet is a two-parter bet made on a single horse to both win and place in a race. It’s effectively betting twice on the same horse, so it will cost double that of a single bet.
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