Betting On Horse Racing

Horse racing is one of the most popular sports to bet on in the world. This is due to the high frequency of events and the fast past nature of the sport. When you place a bet on a five-furlong sprint race, the race itself will take under a minute to complete. It is also incredible exciting to watch and thousands of people each year will head to the racecourses for a day out. Whilst the sport may sound very simple and you just need to pick a horse you want to win and bet on it, there are a number of things you should consider before having a bet and, in this article, we will touch on some of the basics of horse race betting.

Understanding the Odds

The odds represent a horses’ chance of winning. The shorter the odds, the more favoured the horse. A horse with odds of 3/1 is perceived to have a greater chance of winning than a horse with odds of 10/1. Whilst this is a good starting point for identifying the likelier winner of a race, it is important to consider that odds are affected by the amount of money placed on them to win. In some cases, you may find a horse with odds that aren’t a true reflection of its chances.

Odds of 10/1 mean that every £1 you bet you would receive £10 back plus your £1 stake if the horse were to win, giving you a total return of £11.

Different Bet Types

When betting on horse racing there are many different types of bet can place. The two most common markets are outright winners and each way betting.

Outright – You are placing a single bet on which horse you think will win the race and you will only receive a return if your horse wins the races.

Each way – This market is extremely popular by bettors as it provides a level of security when having a bet on a race. An each way bet will provide you a return if your horse wins but also in your horse finishes in the places. This is because your bet is split in to two different stakes. If you bet £5 each way on a horse at 10/1, £5 of your bet is on the horse to win and the other £5 will be on the horse to place, giving you a total stake of £10 on that race. Traditionally bookies will offer a quarter or a fifth of the winnings odds for your horse to place. So, a horse priced at 10/1 to win would have place odds of around 2/1. If you horse only placed you would receive your £5 bet at 2/1 back as a winner, giving you a return of £15 on the race, even though your horse did not win.

BettorMind Advice

Risk Management – With the sheer volume of betting opportunities on racing you need to consider how you are going to approach betting on them and the risks involved. Even the most successful horse racing punters will not be having a bet in every race, and most will have a small number of bets per day/week. This is where your account tools can be very useful in supporting you to make the best decisions with your betting long term.

Staking Plans – This strategy is a great way to enjoy betting on horse racing, whilst ensuring your budget remains controlled. By only betting a small percentage of your budget you can ensure that your betting stays within the limits you have set yourself.

Research – Horse racing is a puzzle and that is part of the enjoyment when it comes to betting on it. With such an abundance of historical data, you can improve your chances of winning through your research. There are no guarantees when it comes to betting but the more knowledge you have of an event or a particular horse, the better placed you will be to decide on whether to place a bet on it or not.

Horse racing is extremely fun to watch and a sport which a lot of people enjoy betting on. By taking on board some of the advice in this article and our other content at BettorMind you will be best placed to enjoy your betting on horse racing.