Horse Racing Betting Overview »
There are various betting markets available when it comes to horse racing. The unpredictable nature of the sport means that punters are continuously kept guessing – and betting on – what is going to happen next.
The standard wager is, of course, betting on a horse to win. An alternative option is the forecast: picking the first three or four horses to cross the line and the order in which they come. Similarly, you can have a go at the reverse forecast on sites such as Paddy Power, which entails guessing the first few to cross the line, though without having to predict their order. When placing the reverse forecast, you must be prepared to double your stake given that the outcome is more likely. The stake of the reverse forecast is similar to that of an each-way bet: you must double it because you’re betting on a horse to come in the first two, three or four, depending on the amount of runners in a race.
This sounds very complicated, though in reality it could not be simpler. An each-way bet is where you wish to back on a horse to finish within the places: if your horse comes first, you win the same as a normal win bet, but equally if you come second you also make a profit, though not as much as if the horse had won. This is a very popular method of betting, because it means punters can still collect off horses at bigger prices, even if the horses themselves are not good enough to put their head in front at the winning post. Win, each-way and forecasts are the most popular horse racing betting markets available to punters, but there are numerous other options on offer from the likes of Paddy Power.
A relatively new market is the ‘bet without’, where gamblers can back a horse to win as if the favourite was not involved in the race. For example, Hurricane Fly was favourite for the Champion Hurdle at Cheltenham in 2012, but his price was too short to reap much dividend for punters. As such, most bookmakers offered the market as if Hurricane Fly was not in the race, making the second horse in the betting, Binocular, the ‘fake’ favourite. This gave punters the opportunity to bet on a different horse at better odds, according to the horse racing tips they felt best to go on.
Elsewhere, the accumulator bet is popular, and so is the double, the treble, the goliath and the super-heinz – all bets that involve backing a number of horses, so returns are likely to be high if you pick astutely or get lucky. Websites such as Betfair, Totesport and Paddy Power offer all these types of bets, plus plenty of horse racing tips to help you along the way. Betting on horse racing can be one of the most exciting wagers in sport - it’s an easy game when you know how.