Many punters are often confused by the many bet types offered at the best online sportsbooks. Horse racing is one of the more simple, and easy to understand types of sports betting. In fact, by the end of this short article you will be aware of all of the bets and markets required to get started with horse racing betting. The sport of horse racing is still one of the most popular sports to bet on for millions of punters each year, and to make these bets, you will need to understand the various horse racing betting markets and what they all mean. Read on to expand your knowledge of horse racing betting.
Horse racing betting has taken place for centuries according to historians, and many horse racing bet types have evolved over the years. However, there is still the same popular three bet types today as there were all those years ago.
Before a race begins, you will usually see a fixed odds selection within the horse racing betting markets. By betting on a horse to win a race using a fixed odds bet means that if the horse does go on to win, you will win your bet.
Fixed odds are basically single bets that are placed on a horse to win, but they are often shown as fixed odds by bookmakers. This is because horse racing betting is so popular that odds will tend to fluctuate leading up to an event due to so many punters placing bets.
Out of the three most popular horse racing bet types, this causes beginner bettors the most confusion. In an each way bet, you are basically placing two bets that are combined into one single bet. For example, you could place an each way bet on a horse to win a race, and to ‘place’. And in this example, if the horse does win the race you will win both bets, since the horse did win as well as finish inside the top 2.
The confusion typically lies in the fact that it is two bets in one. However, an each way bet is always placed in the same section, and the each way details will be given before you make your bet.
In the above example, the each way bet consisted of an element known in the horse betting world as ‘to place’. Usually, to place means that the horse must finish inside the top 2.
But with a ‘to show’ bet the horse needs to finish inside the top 3 for you to win your bet. Occasionally (but not always), an each way bet could consist of a ‘to show’ element instead of ‘to place’. Yet do not worry, as the details of the bet will clearly be stated inside the sportsbook.
Whatever you choose regarding the horse racing betting types, the way that the odds work is always the same. For example, if you place a $50 fixed odds bet on a horse to win a single event at odds of 2.5, you will get a return of $125. This is simply because $50 multiplied by 2.5 is $125.
However, this is not your actual profit. Your profit is $75, because $50 out of the $125 was your original bet.
And odds don’t just work this way for single bets or fixed odds bets; they will always follow this same formula, which will determine what you could win on a bet.
Besides the popular horse racing bet types mentioned above, you will come across special bets that are sometimes on offer during large races or events. Let’s take a look at them right here.
During an event that has multiple races taking place, you can actually place a bet on which one will have the biggest winner – by margin. This is usually measured in terms of winning lengths, and you could pick ‘race 5’ or ‘race 6’ for example.
Occasionally, jockeys will ride multiple horses during an event. And you can place a bet on a particular jockey to ride a specified number of winning horses during an event. This can sometimes be a bet placed on the jockey to ride at least 1 winner, or at least 2 winners.
This works in exactly the same way as the bet as the race with the largest winning margin, and some of the odds can be quite favorable for these less popular bets.
All of these bets are usually found with any horse racing betting markets, and if they aren’t available yet it could be the case that the race is going to be held quite far into the future. Therefore the odds will not be available yet.
One of the greatest aspects of betting on horse racing is that there are races basically every single day. There are countless opportunities to make your first bets and start experimenting with different bets and different markets.
However, if you want to wait until the larger events are held that is completely understandable. If this is the case, you may want to watch out for upcoming events such as the Welsh Grand National or the Breeders' Cup. Both of these events will take place over the next couple of months, and they will surely have plenty of action!
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