Horse Racing Bets Explained
Horse racing has provided an opportunity for bookmakers and those who like a flutter to create wagers together for centuries. As such, understanding the basics with horse race betting means that you will necessarily have got to grips with many other types of wagers made in other sports, too. Most types of bet originated with horse racing, after all. Licensed bookmakers will offer odds on horse racing up and down the country’s high streets. Alternatively, you can head to race ground to see the horses in action and place a bet there, so-called on course betting.
These bets are made by punters who think that an event will occur. Usually, this is that a horse will win a given race. The bookmaker offers odds, for example of 2:1 that a particular horse will win. If you bet £10 at two to one and lose, your £10 is forfeit. If the horse wins, then expect the bookmaker to pay you £20 plus your stake back. Single bets are also often made on a horse being placed. This means usually that a horse finishes in the top three or four, depending on the size of the field, and the odds are less according with the greater likelihood of this outcome.
Each Way Bets
An 'each way' bet is really two bets which are rolled into one. An each way bet says a horse will win or be placed. So, for example if you wager £10 on a bet like this, then £5 is bet on your chosen horse winning and the remaining £5 is wagered against it being placed. This is very popular type of bet, but bear in mind that if your horse is placed, then the return you get is at a quarter of the odds of a win. If your horse wins, then you get a return based on the half of your stake that was placed on the horse winning and also the half that was bet on it being placed - albeit at lower odds.
Doubles and Trebles
Double bets and treble bets are accumulators. For doubles, you need to make two successful predictions, for example that horse A will win a particular race and that horse B will win the following one. You win the bet if both predictions turn out to be correct but nothing if only one is right. Therefore, the odds you can expect become accordingly longer. With trebles, you need to make three consecutively successful predictions. Four results, each bet on together, are known as four-fold accumulators.