Horse Racing Odds

How to Bet on Horse Racing

In horse racing, a futures bet is a wager placed in advance on the outcome of a significant event, such as the Grand National, Melbourne Cup, Cheltenham Gold Cup, or Kentucky Derby. In the UK and Ireland, this is known as an ante-post bet. 

These bets are often available weeks or even months before the race, and the odds fluctuate over time based on entries, form, trainer updates, and weather conditions.

You might back a specific horse to win a high-profile race long before final declarations, allowing you to lock in more favourable odds if your pick improves in the market closer to race day. 

Some of the world's most popular races to bet on well in advance of the race are listed below:

  • Grand National
  • Cheltenham Gold Cup
  • Epsom Derby
  • Punchestown Gold Cup
  • Kentucky Derby
  • Preakness Stakes
  • Belmont Stakes
  • Breeders’ Cup Classic
  • Melbourne Cup
  • L’Arc de Triomphe
  • Dubai World Cup

Horse racing is fast-paced, and form can change quickly. Always check for the latest racecards, ground conditions, and non-runner updates before placing a bet—especially when betting in advance.

Remember, responsible gambling means setting limits and betting for enjoyment, not as a means of making money.

Popular Horse Racing Bet Types

While the win market (betting on a horse to finish 1st) is by far the most popular, many betting sites offer extended finishing position options and alternative bets such as:

  • Place: The horse must finish in the top 2, 3, or 4, depending on the race and field size.
  • Each-Way: A combination of a win and place bet. Your stake is split evenly—if your horse places, you receive a fraction of the win odds.
  • Top 5 or 10: More common in big international fields like the Melbourne Cup or Breeders’ Cup races.
  • Head-to-Head: Match bets between two or three named horses. Instead of picking the overall race winner, you bet on which horse finishes ahead of the others in that group.

How to Read Horse Racing Odds

Horse racing odds are presented in three main formats, depending on your region, and most online horse racing betting sites allow you to choose between the formats in your account settings:

  • Format: 5/1
  • How to Read: The number on the left shows your profit relative to the stake on the right
  • Used in: UK, Ireland
  • Example: 5/1 means you win £5 for every £1 staked (plus your stake back)

About Gambling.com's Odds Comparisons

Whether betting on Royal Ascot, the Melbourne Spring Carnival, or the Triple Crown in the U.S., finding the best horse racing odds can significantly improve your returns. 

At Gambling.com, we track odds in real-time from major bookmakers, giving you access to:

  1. The best value on win, place, and each-way markets
  2. Exclusive betting offers when you register a new betting account
  3. Updated lines that react to market moves, declarations, or non-runners

Following our up-to-date odds and expert betting previews improves your chances of earning a return. 

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