Understanding the Basics of Horse BettingPosted by: Mike Davis
Horse betting has been around ever since humans started racing horses. While it can certainly be profitable there is a good amount of skill, and a tremendous amount of luck, that goes into finding success at the racebooks. Thanks to the internet the tools and information necessary to engage in meaningful predictions are right at your fingertips. So what are the essentials for a novice looking to bet on horse racing?
Understanding the Odds
This is arguably the most important part about finding success at the racebooks. A punters ability to evaluate different odds across the board is what leads to some of the most lucrative bets in the sport. Odds are the way you can tell exactly how much money you will be receiving for your stake. Fractional odds, which are the most common in horse betting, will give you a simple way of calculating your return, excluding your stake of course. If the odds are 8/1 for example, and you wish to bet $100 and succeed, then you will be receiving 8 * $100 = $800. Of course you will also be receiving the original $100 that you had put down, so your total earnings would equal $900. Decimal odds are the other common format of displaying odds, the only difference being that in decimal form the odds will also include your stake. So 8/1 in decimal form would simply be 9.000, so, once again, $100 * 9.000 = $900.
Horse betting provides ample opportunities for fans to win money by offering a variety of bets that punters can partake in. The most straightforward of these is the ‘to win’ bet. Simply put, you place a single bet on the horse you think will win the race. Thus, you will only receive a payout if the horse you’re backing wins.
An each way is where things start to get complicated. This is essentially two bets in one, with the first bet backing your horse to win, and the second is for the same horse to ‘place’ – which can vary but generally means ranking in the top 3. You’ll only get ¼ of the odds back if your horse doesn’t win but places, but it’s certainly better than losing your entire stake. These types of bets are most commonly seen placed on horses with large odds.
Double, treble, fourfold, etc.
These are the bets that include more than one stipulation. In a double you would back two separate horses in two separate races. In order to cash in on your wagers you need at least 2/3 of your bets to come true. A double becomes a treble once you add an additional event and so on and so forth. These types of bets can be hard to put together but can be extremely lucrative if they come to fruition.
Trixies, Patents, and Yankees
These bets start to become even more complicated. A Trixie is a group of bets that are merged into one. Essentially, a Trixie is three doubles and one treble. In order to win a Trixie you will need 2/3 picks to be correct. A patent will include the same number of bets but will also add on three single bets as well, leading to a total of seven bets. With a patent you will only need one horse to win to earn some winnings, due to the large stake that needs to be put down. A Yankee is made up of six doubles, four trebles, and a fourfold accumulator, and you will need two horses to end up in the correct position.