Understanding Betting Many people are put off horse racing because they don't understand how betting works, when really it couldn't be simpler.

Transcription

1 Guide To Betting Category : Holidays, Systems, Ownership & Ante - Post Published by Alexg on 2011/3/27 Understanding Betting Many people are put off horse racing because they don't understand how betting works, when really it couldn't be simpler. Having a little flutter on the horses is fun and it doesn't have to be complicated. Here we explore some of the basics to help you understand betting: Stake When placing a bet, your stake is the amount of money you are willing to gamble - be it a cautious  2 or a rather more flamboyant  500. Generally the minimum stake you can place at a racecourse is  2. If you're a winner, your winnings (also known as 'returns') are calculated according to your horse's odds. Odds In the world of betting, the odds (often referred to as the 'price') are a way of expressing the probability of a horse winning a race. OK - so that's all relatively easy. Here's the more difficult bit. Prices can be: â odds against â even money, or â odds on Odds against (e.g 2/1, 7/1, 15/2, 50/1 etc) If your horse's perceived chance of winning the race is less than 50/50 it is described as odds against. In this case if your horse wins you will receive your stake back plus your stake multiplied by the odds against it. For example: Your horse wins at 2/1 (pronounced two-to-one). If your stake was  10 you will receive: â your  10 back â plus your stake multiplied by the odds of 2/1 = ( 10 x 2) =  20 â that makes  30 in total Sometimes the numbers may appear more complicated e.g. 15/2 or 9/4. This is simply because odds are normally expressed as fractions so can't include half numbers. So,for ease of working out how much your bet would return, think of '15/2' page 1 / 8

2 as being the same as '7.5/1' etc. Even money (or Evens) If your horse's perceived chance of winning the race is 50/50 it is described as evens. In this case if your horse wins you will receive your stake back doubled. For example: Your horse wins at 1/1 (pronounced 'evens'). If your stake was  10 you will receive: â your  10 back â plus your stake multiplied by the odds of 1/1 = ( 10 x 1) =  10 again â that makes  20 in total Odds on (e.g 1/2, 4/7, 3/10 etc) If your horse's perceived chance of winning the race is more than 50/50 it is described as odds on. In this case if your horse wins you will receive your stake back plus your stake multiplied by the odds on it. For example: Your horse wins at 1/2 (pronounced one-to-two on). If your stake was  10 you will receive: â your  10 back â plus your stake multiplied by the odds of 1/2 = ( 10 x ½) =  5 â that makes  15 in total The word 'on' indicates that the odds are reversed. Long Odds or Short Odds? Sometimes, instead of a horse's odds being expressed as a fraction, you might hear that they are simply 'long' or 'short'. This isn't meant to refer to the horse itself - or even the jockey. Instead, odds that are said to be long (e.g. 50/1) point to the fact that a horse is very unlikely to win the race. Conversely, short odds (e.g. 2/1) indicate that a horse has a good chance of winning. Quote: Types Of Bet[quote] There are a wide variety of bets and combinations you can place on every race. Below is an example of each type of bet you can place. Please note that you can place all of these bet types at all the Bookmakers, Tote or page 2 / 8

3 Betting Shops you can find at the racecourse, not just the Tote. Pick the winner of the race. To place a  2 'Win' bet on horse number 4 simply say " 2 win on 4" Pick a horse to be 'placed' in the race (i.e. come in the top 2, 3 or 4 depending on how many runners in the race). However, you will receive a reduced return on your stake because your horse is more likely to be placed than simply win outright. The odds are normally reduced to 1/4 or 1/5 of the stated odds. Your selections needs to be placed as follows: Up to 4 runners â no place betting 5 â 7 runners â 1st & 2nd 8+ runners â 1st, 2nd & 3rd Handicap 16+ runners â 1st, 2nd, 3rd & 4th To place a  2 'Place' bet on horse number 4 simply say " 2 place on 4" A very popular way of betting, this is simply a 'Win' bet and a 'Place' bet on the same horse. To place a  2 'each way' bet on horse number 4 say " 2 each way on 4". Please note this will cost you  4 as a  2 each way bet is the equivalent of 2 betsa bit to win and a bet to place. Pick the horses to finish 1st and 2nd in the correct order. This is obviously more difficult than just picking the winner, but the rewards are potentially much greater. Or you can try a 'reverse' exacta to increase your chances (e.g. a reverse exacta means you pick the first two to finish in any order, but this classes as two bets). To place a  2 'exacta' bet on horse number 4 to win and horse number 6 to come second simply say " 2 exacta on 4 and 6" To place a  2 'reverse exacta' bet on horse number 4 and horse number 6 to come first and second in any order simply say " 2 reverse exacta on 4 and 6" page 3 / 8

4 Please note this will cost you  4 as a  2 reverse exacta bet is the equivalent of 2 bets- a bet on 4 to win and 6 to come second, and a bet on 6 to win and 4 to come second Pick the horses to finish 1st, 2nd and 3rd in the correct order in a trifecta race. Get this right and you could win big! To place a  2 trifecta on horse number 4 to win, 6 to come second and 8 to come third say " 2 trifecta on 4, 6 and 8" This is racing's favourite bet - and it couldn't be simpler! Just pick a horse to be placed in each of the six placepot races (normally the first six races on the card). You can choose more than one horse in any of the races to increase your chances of winning. Get them all correct and you can hit the jackpot! To place a placepot bet use a placepot play slip, which you will find at the course. Another popular bet - especially if you've missed the start of the placepot or it has fallen by the wayside before the 3rd race. As before, just pick a horse to be placed in each of the four quadpot races which are normally races 3, 4, 5 and 6. Use a quadpot play slip, which you will find at the course, to place your bet. Pick the winners of the six jackpot races at the nominated jackpot meeting each day. Not easy - but the potential rewards are huge! You can choose more than one horse in any of the races to increase your chances of winning. Use a placepot play slip, which you will find at the course, to place your bet. Pick at least one horse in the six nominated televised races each Saturday. Get all six winners to scoop a potentially massive dividend AND qualify for a big money bonus. page 4 / 8

5 Even finding a placed horse in every race pays an average dividend of over ï ½500 to a ï ½1 stake. Use a totescoop6 play slip to place your bet. [color=00ff66]how To Bet There are three very simple ways in which racegoers can place a bet at the racecourse: The Tote Bookmakers Racecourse betting shop (Remember, if you're off course, you can always bet online) The Tote The Tote offers 'pool based' bets, where all bets on a horse nationwide form a pool of money that is then shared amongst the winners. The distinctive red Tote betting booths with television screens show the estimated dividends, but the final dividend will only be known once the pool closes at the beginning of the race and no further bets can be taken. Placing a bet with the Tote is simple. Go to any kiosk and state: the race number the number of your chosen horse the bet type the amount you wish to stake The cashier will then give you a ticket with the details of your bet. This ticket is important and will need to be presented back to the Tote to collect any winnings at the end of the race. Bookmakers The bookmakers can be found in all Enclosures on the racecourse. However the main betting ring is located in the Grandstand and Paddock Enclosure. You can wander between the bookmakers' pitches where they display the runners for the next race and the odds/prices that are being offered. It's worth shopping around as the various bookmakers may well be offering different prices. The odds are displayed on boards similar to the one below: To place your bet simply tell the bookmaker: the horse's number page 5 / 8

6 the type of bet the amount you'd like to bet In return you'll be given a ticket or receipt confirming your bet. Keep this safe as you'll need it to claim your winnings if your horse is successful. After the race to claim winnings simply take your receipt back to the bookmaker you bought the bet from and he'll give you your money. Racecourse betting shop This is the same as a High Street bookmaker's shop where you write on a betting slip. your selected racecourse race time the name of the horse the value of your stake the type of bet You hand the slip and money to the cashier and you will be given a carbon copy of the slip. This copy must be presented back to the cashier when collecting any winnings. Online betting Though nothing compares to the actual thrill of being at the races, we understand that it might not always be convenient to visit the course; but what if you still fancy a flutter? The main bookmakers all have sites where you can safely place your online bet, and, to make things simpler still, compare prices from all of the leading online bookmakers and betting exchanges so you don't have to. The site looks at prices from all of the day's races, as well as ante-post markets and other sporting events around the world. It also has a separate site, oddschecker.mobi, that lets you check prices from web-enabled mobiles. Picking A Winner The best thing about horse racing is that no one knows who is going to win any given race at any given time. However, here are a few handy tips to help you try to pick a winner. Study the form 'Form' is simply the information and facts about a horse's past performances. You can find a summary of form in your racecard, and in the national newspapers. If you would like a more detailed analysis, then the Racing Post (which you can buy at the course) has a wide range of statistical information. page 6 / 8

7 Some factors worth taking into consideration when looking at form are: Whether your horse has won any races recently. On your racecard this will be represented as a series of numbers,e.g Each number represents a race and your horses position in that race If your horse has beaten or lost to any of its rivals in this race before Whether your horse has won over this distance before, or at this course (a course and distance winner is a very desirable bet) Whether the horse has won previously on the same going (i.e the state of the turf) as it is running on today The weight your horse is carrying compared to previous races or whether it is going up or dropping down significantly in the class of the race What kind of form your horse's trainer is in at the moment Let the experts help you There will always be people around who think they will be able to tell you the winner of every race on the day, but in reality they probably know no more than you! However, if you're looking for some reliable and official sources of information from professional pundits, try researching these websites before you go to the course: The Racing Post At The Races The Guardian Online The Times online In addition make sure to buy your copy of the Racing Post and the Racecard at the course. Focusing on the horses If you have purchased Grandstand or Members tickets you will have access to the Pre-Parade Ring or the Parade Ring, where you can go and have a look at the horses before they race. The sort of signs you should be seeking in a potential winner are: A good muscle tone, often referred to as 'condition' Match this with a shiny coat, bright eyes, forward-pointing ears and an alert manner and you're in with a good chance Pay attention to how the horse moves. A relaxed forward stride is ideal but watch out for unnecessary agitation page 7 / 8

8 Profuse sweating can be an indication of nerves, but don't cut this out altogether as for some horses this is normal Equally, don't be put off by blinkers or visors, which are worn to help channel the horse's concentration during the race Betting Sensibly Whilst having a bet on the horses can be fun, it must be remembered that every bet can lose as well as win. Self-control is the key to betting sensibly: Make a limit and stick to it. If you wish to bet at the racecourse, include your limit as part of the cost of the day. That way, any winnings are a bonus, and any losses are part of the costs. Don't chase losses. There is always another day. Only bet what you can afford to lose. You alone can judge this. Stay in control of your betting. page 8 / 8