As a beginner in betting on the horse race, you wanted to start the right way. Of course, this includes learning how to read horse racing odds. When you are betting on the live horse race, the odds are not always the easiest thing to understand. Moreover, horse racing odds can be particularly complicated. Unlike other sports betting events as well as in casino odds, the odds here are a bit tricky to understand.
When it comes to casinos, the odds are generally fixed. More often than not, it does not change while you are playing. Nevertheless, with a horse race, the odds are like water. Thus, predicting the outcome of the race is very difficult. In addition, throughout the race, the horse racing odds are fluctuating.
Therefore, you will notice that when you are trying to figure out which horse to bet on, the odds are changing periodically. And to some extent, thinking of the safest bet can be very frustrating. On top of that, there are many horse racing events happening worldwide. Hence, there are also a large number of horses in each game, which can confuse a beginner like you. Also, it tends to be so overwhelming when you are learning how to read horse racing odds.
How to bet on horse racing and win?
And for you to win, your horse much comes home first. Furthermore, both the “Win” and “Place” of your wager will payout. However, when your horse only wins “Place”, then you will lose the “Win” part of your wager. Nevertheless, you don’t have to be sad. You can still claim on the “Place” part of your bet when your horse ranks 2nd, 3rd, 4th, 5th, or 6th in the race.
What is “place” and what is “win” in horse racing?
This is what we are talking about in the tricky part. In horse racing, there is what we called an “Each-way” bet. The each-way bet means you are wagering on two things. You are betting that your horse will win (the Win part). Alternatively, you are betting that the horse will finish the race and place anywhere up to the 6th place (the Place part).
Likewise, this allows you to get a return of your money if the horse you bet does not win 1st place. Instead, the horse finishes the race in 2nd, 3rd, 4th, 5th, or 6th place. In the Win part and Place part, you must have an equal amount of stake.
How to read horse racing odds?
In any gambling event, odds are the mathematical representation of how likely an event is going to happen. And in the horse racing odds, it simply tells how likely a horse is going to win the race. Moreover, odds tell us how much money you will receive if your horse wins.
Furthermore, the horse racing odds vary from horses to horses. It also depends on the race-to-race event. In addition, it relies on what outcome the bookmaker think is most likely to happen. Hence, the horse racing odds can change over time. So, before you wager, you must first understand how horse racing odds work. Also, make sure that you are looking at the latest odds on the books.
What are the different horse racing odds?
The odds on horse racing are almost the same in sports betting. Furthermore, here are the different odds of the horse race.
Fractional Horse Racing Odds
This could probably the most famous form of horse racing odds in the UK. Fractional odds are easy to understand. Additionally, it denotes in fraction form like 1/3 or 4/1. Where the number on the left denotes the amount, you stand to win. Moreover, the number on the right shows your initial stake.
For an instance, we have 2/1. Let us say you are betting a £2. Then, the number you will win from your £2 stake is 2. To simply put £2 x £2 = £4. Therefore, if your horse wins the race, you will win £4. With fractional horse racing odds, you also need to consider that you win back your initial bet. So, all in all, £4 (final total) + £2 (initial bet). You will take home final winnings of £6.
Decimal Horse Racing Odds
Decimal horse racing odds are increasingly popular today, most especially online. With decimal odds, it represents the amount of money that you will get from your wager. Moreover, it will be written in 2.00 format. Nevertheless, unlike the fractional horse race odds, the stake is already factored in.
You can multiply the odd by your bet to get your potential return. So, if the decimal horse racing odd is displayed at 5.00, you need to multiply this by your bet.
For an instance, we have 12.00 with a stake of £1. 12.00 x £1 = £12 is your total potential returns when you win.
What are the type of bets in horse racing?
The Straight Bets
Win – This is the simplest and easily understand the type of bet in horse racing. Here, you are betting that the horse you pick will win the race. In a winning bet, when your horse wins, then you can collect your bet. If you are looking on the tote board, the listed for the horses are the win odds for each horse. Thus, if you see “3” on the tote board for horse A and you bet on him with £2, you will get £12. This is in fractional odds.
Place – This goes the same with the win bet. We already discuss what is place bet earlier in this article. So, if the horse you pick finishes 2nd, then you are going to collect the amount shown in the place column. No matter what place in the race your horse finishes, you will get to win the same amount.
Show – Here, you are betting that the horse you pick will finish in the top 3 positions in the race. So, if your horse wins on show bet. You need to look at the Show column.
The Combination Straight Bets
Across the Board (Win/Place/Show) – If you bet across the board on the horse you pick, you are either betting him to win, place, and show. So, if your horse wins, you can collect all 3 bets. If the horse wins 2nd place, you can collect the place and show bets. Yet, the horse finishes at 3rd place, then you can only collect the show bet. Across the board, for a £bet, it will cost you £6
Win/Place, Place/Show – In this combination straight bet you are betting into 2. It is either Wins/Place or Place/Show. And this may cost you £4 for a £2 bet.
Exotic Bets: Single Race
Exacta/Perfecta/Exactor – one of the simplest types of a single race. This is the combination of predicting the winning horse and the 2nd placer.
Quinella – This is the same with Exacta. But you don’t have to predict the winner and 2nd placer. Here, you are picking horses the will be going to finish in the top 2 places.
Trifecta/Triactor – Here, you are going to predict which horses will finish the top 3 positions in the horse race.
Superfecta – This is the most difficult among the single-race exotic bets. Here, you are picking different combinations of horses to get more chances of winning the bet.
Exotic Bets: Horse racing multiple bets
Double – This is the simplest type of wager that spans many races. A double bet requires you to pick the winner in two consecutive races.
Pick 3/Pick 4/Pick 6 (Classix) – The concept is similar to double. The only difference is the number of consecutive races that you need to predict the winner. In this horse racing multiple bets, you need to take many combinations of horses. This is to increase your chance of winning.
Do you want to play in horse racing betting machines?
How to read horse racing odds: The Wrap-up
Have you finally decide to try your luck betting on a horse race?
If so, then you are searching for answers on how to win a horse race? In Live horse racing, the idea is to pick which horse is going to be a winner. But if the event is as big as the Grand National, the chance of predicting the winner can be so tricky. Now that you learn how to read horse racing odds, you are good to go.
Horse Racing Odds FAQs:
So, if you are not confident that the horse will come in 1st or 2nd. The show is the safest bet you can place in a horse race. In addition, this offers the smallest return among the straight bet.
The horse racing odds vary from horses to horses. It also depends on the race-to-race event. In addition, it relies on what outcome the bookmaker think is most likely to happen. Hence, the horse racing odds can change on the fly. Therefore, before you wager, you must first understand how horse racing odds work. Also, make sure that you are looking at the latest odds on the books.
Straight bets are the best for new bettors of horse racing. It is easy to understand than the other types of horse race bet.