Guide to Horse Racing Betting
Horse racing is one of the oldest forms of sports still in existence. From its origins in ancient times, it has grown into one of the largest industries of modern times. Betting on horse racing is almost as old as the sports itself and has developed into a multi-billion dollar industry across the world. Online and mobile technology has opened horse racing betting to millions of bettors on a global scale.
How to Bet on Horse Racing for Beginners?
For newbies, horse racing might initially seem confusing, with so many bet types, options and statistics. However, once you start, it becomes easier and easier. Here are the basics of how to bet on horse racing online:
- Study the race cards – That’s probably the most important rule. Each bookmaker provides a race card showing the horses, jockeys, trainers, and past performances. You should pay attention to recent finishes and whether the horse is consistent in its results.
- The track conditions matter – Horses that run well on firm ground may struggle on wet or muddy tracks. Study the conditions and take some time to understand how they impact the horses’ performance.
- Start with the basic markets – Some of the simplest markets are Win and Place. The Win Bet is about the outcome—you predict which horse will finish first. The place bet lets you predict if your horse will finish in the top 2 or 3. Odds here are lower, but it is safer, especially if you lack experience.
Betting on horse racing is thrilling, because everything can turn in seconds. One strong start, one mistake on the track can alter the outcome. However, if you have an idea what to expect, because of your research, it is harder to be surprised.
Best Horse Racing Betting Sites
With modern mobile technology accessible to most, horse racing betting is readily available on many online betting sites. Almost every sports betting site caters to horse racing gambling, and most of these have downloadable apps for mobile devices. With racing held every day across the globe, the slope for betting is limitless.
Being at an event allows you to place track bets while enjoying the atmosphere that surrounds live horse racing. While you are there, you may pick up useful tips. Most online horse racing betting sites feature live coverage of the races, so can keep in touch with the action from wherever you are. The best betting apps for horse racing also incorporate a horse racing bet calculator. Make yourself familiar with the basic terms associated with each site.
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How to Read Horse Racing Odds
Odds in horse racing is more than just numbers showing you potential payout – they reflect how likely a horse will win according to the bookmaker and the betting market. Understanding them is essential if you want to learn how to win at horse racing.
- Probability of winnngs – A horse with odds of 2/1 is twice as likely to win as one with odds of 4/1. Lower odds mean a horse is considered favourite, just like any other sport.
- Implied probability – This is the percentage chance a horse to wn. For instance odds of 4/1 suggest about a 20% chance of winning. Odds of 2/1 suggest a 33% chance. Seeing the outcomes in percentages wll help you judge if the risk is worth it.
- Value matters – Sometimes the favourite odds is overvalued, because of the number of people that chose it. This usually don’t offer good returns. In short, a horse with strong recent performance may offer better value than the favourite.
- Place odds – In many races, you can place a bet on a horse to place (to finish in top 2 or 3). The odds are significantly lower, but your chances of winning are higher.
Types of Horse Racing
Any horse race run over a fixed distance on a flat surface without any obstacles is classified as a flat race. This is by far the most used and most popular event, particularly for bettors and spectators. The most prestigious events held worldwide are flat racing events, and the Kentucky Derby in the US, The Royal Ascot in England, and the Durban July Handicap in South Africa are among the most notable annual horse racing events.
As its name implies, endurance racing is more a test of the horse’s stamina, as well as that of the jockeys. Generally held over much longer distances or time frames, this format is not as popular with bettors as flat racing. The longest known event is the Mongol Derby, which is run over a staggering 1 000 kilometres!
This form of racing certainly dates back to ancient times, according to evidence found in art from the period. Usually, run on dirt tracks, harness racing involves the horse pulling a type of cart, known as a sulky, in which the rider is seated. The horse’s running style must be a trot or pace, and galloping is not permitted. This form of racing is popular worldwide, particularly in Scandinavian countries. Betting on harness racing is well supported, although the betting markets and the sport’s rules may seem complicated to the novice.
Similar to flat racing, but with the inclusion of obstacles on the course, such as fences, ditches, and water troughs. Extremely popular in Europe and the UK, this form of racing is also known as National Hunt or Steeplechase. Betting on jump racing is extremely popular, although you need to take into consideration the horse and jockey’s ability to consistently negotiate the various hazards. One of the most dangerous forms of horse racing, it has been known to claim casualties, both horse and rider. It remains a popular form of racing, with a large following.
Main Horse Racing Competitions
Let’s take a look at some of the World’s most glamorous and prestigious horse racing events.
- Cheltenham Festival
A four-day National Hunt event held annually in March; the Cheltenham Festival originated in 1860. Held in the Gloucestershire town of Cheltenham in the UK, the largest crowd attendance was recorded in 2019, with over 67 000 visitors. There are currently 28 races held over the four-day period. The difficult course has sadly claimed a number of horses over the years, leading to a reduction in the number of obstacles. - The Grand National
This annual event is held at the Grand National course at Aintree, Liverpool, in England. Run over two laps with a total of 6.9 kilometres; the left-handed course features 16 fences. First run in 1839, the event has become by far the most valuable steeplechase event in Europe. - Breeders Cup World Championships
Held annually at changing venues within the USA, the Breeders Cup was originally a one-day event, becoming a 2-day event in 2007. Attendances vary depending on the hosting venue, with Santa Anita Park setting the highest total of over 118 000 visitors in 2016. Total prize money for the entire event is in excess of $30 million. - Kentucky Derby
Held at Churchill Downs in Louisville, Kentucky, in May every year, the Kentucky Derby is possibly the best-known horse racing event in the USA. Open to 3-year old thoroughbreds, the race is held at a distance of 2 kilometres or 1.25 miles. The event has been held every year since its inception in 1875, without interruption. Attendance figures are consistently the highest of all US equestrian events, and purse money is in the region of $3 million. - Melbourne Cup
Known as the richest two-mile horse race in the world, the Melbourne Cup was first run in 1861. Australia’s biggest horse race, the event carries a purse of AUS $8 million. The race is a handicap event, with entries from thoroughbreds of three years and older. The event takes pride of place on the Melbourne calendar, and Cup day is declared a public holiday in the city. - The Royal Ascot
Located about 6 miles from Windsor Castle, in Berkshire, England, lies the Ascot racecourse, home of The Royal Ascot, one of Britain’s most prestigious horse racing events. Held over 5 days, beginning on Tuesday, the highlight of the event is the Gold Cup, run over 2.5 miles. This race is open to thoroughbreds of 4 years and older. For most areas of the course, the dress code is formal, befitting the Royal atmosphere.
Most Popular Horse Racing Markets
Here, we’ve gathered together some of the betting markets that are most popular among bettors. These can be found on most of the best online horse racing betting sites. You can read our horse racing betting guide for more detailed info and further tips.
- Race winner – It just wouldn’t be horse racing gambling without this market. It’s the most basic bet of them all, really. You pick a horse for the win, and if it does, your bet does too. If your horse doesn’t win, your wager loses.
- Place only – When the top horse racing betting sites talk about placing, it typically refers to the top three positions in the results. A place-only bet is based on the bookie’s given odds on a horse to finish in the top three places.
- Each way – win and place – The best horse racing betting sites offer this two-way option, which combines the two above markets. Your stake is split between the win and the place, meaning that you still see returns if your winner pick comes in second or third.
- Tote betting – When making a tote bet, you’re wagering against other bettors. The odds are not decided beforehand but are assessed afterwards as a percentage of the pooled bets, with individual winnings being dependent on the initial amount staked. So, it’s quite possible to gain a substantial advantage by going down the tote route. This very much depends on what kind of odds are being offered by bookies, as well as the sort of winnings pool on offer through the tote.
- Forecast – The straight forecast bet is based on the first and second finishing positions. Most horse racing betting websites will give their odds on which horse will place first and which second.
- Tricast – The tricast is similar to the forecast but a little tougher to pick. It’s based on the specific finishing order of the first three places for the race. It’s the kind of market that can give really great odds, especially with more horses running.
- Swinger – To place a swinger bet, you have to identify two horses that you think will place within the top three. The particular order of their placing doesn’t matter, provided that both of your picks are either first, second, or third.
- Reverse Forecast/Tricast – The reverse doesn’t quite reverse the way a forecast or tricast works, but rather it softens the bet a little. Your picks can place either first or second for the forecast. Or in the case of the tricast, your three picks must place first, second, or third in any order. This means that the bet is less rigid than either the forecast or the tricast. More wiggle-room does equate to shorter odds, however, and shorter winnings too. It’s a very ordinary tradeoff in the betting world, generally.
- Placepot betting – Placepots are another tote option, meaning that the winnings are pooled and divided. The placepot allows you to pick winners across multiple races, with variations on the outright win, top two, and top three selections.
- Tote jackpot – This jackpot is a tote bet on the winners of the first six races of the day, with winnings all pooled and divided according to your initial wager amount. You make at least one pick per race, although you can pick as many as you like.
- Quadpot – A little like the placepot, the quadpot is a selection across four races. Once again, the winnings are determined according to the tote structure, and odds are not determined by any bookie.
- Antepost – Ante-post betting is a bit like futures trading in stocks. You place your wager well in advance of the race in the hopes that your odds are better than they will be by the time the race is due to start. Similar to futures trading. However, you might easily find that the odds are worse. Playing in advance is always going to be a risk/reward calculation that must be made by the player. If you win, it could very well be a big reward.
Why Bet on Horse Racing?
If you’re likely to only take away one or two points from this review, we thought it might be helpful to provide them ready-made and bulleted.
- Pros:
- It’s an ancient and noble sport
- Short race times make for multiple events daily
- Huge range of market options
- Year-round events mean more action
- There’s a lot to learn for the curious
- Cons:
- Some bettors prefer team sports
- All the rules and regs can be hard at first
Important Factors to Consider
Betting is often about a feel or a sense about a pick, but stats are objective. Studying up the basic facts around a horse or a certain track can only improve your understanding of the upcoming meet. There’s no sense in ignoring evidence.
Every different race meet creates its own excitement and is followed by all the gossip. You have to filter through the hints and tips to figure out what’s good advice. Learning from the news surrounding the races is a big bonus to the bettor.
Since races are run outdoors, weather can have a tremendous effect on the running. A track that normally has fair to good going can be made heavy and slow by even a little rain. It’s a big thing to keep a lookout for.
Any horse, on its day, can win any race. That’s the beauty of it. The thing about the outsider is that you can find some seriously long odds, and those long odds give some great payouts. It’s well worth having an open mind with these types of horses.
As with any sport, there’s no substitute for following the events. It lets you get a feel for how things are going for particular horses and brings you into the mix in a way that isn’t possible otherwise. Also, the races are good fun, even without a wager.
The live bet, sometimes called in-play betting, is a wonderful feature across many different sports and is also available for some horse races. It allows for bettors to basically do two things: soften the losses on incorrect initial bets or bolster winnings on correct bets.
If your pick begins to lose during play in a sport, you can soften this by betting against your previous bet. Conversely, if you place a tentative wager which you see is coming up well, you can add to it.
With horses, there’s one major difference. While many sports events last an hour or more, the horses finish up within minutes. So, while there are indeed in-play options on horse racing betting sites, the thing is much more frenetic in character.
Again because of the shortened time constraints, the offerings for live betting on horses will not cover many markets. You’ll find a smaller sampling in this regard, and you really have to keep your wits about you when betting live on your horse racing betting app.
Horse Racing History and Facts
The origins of horse racing can be traced back to ancient times. Archaeological finds have indicated the presence of horse racing in various forms in many civilizations, notably Greek, Roman, and Egyptian. Reasonable evidence based on these finds suggests that horse racing existed as far back as 4500 BC. Other evidence points to horse racing being included in the early Olympic Games. Often these early contests appear to have featured chariots, a forerunner to harness racing of today.
The earliest organized races seem to date back to the 15th century, where the annual Spring Festival in Rome was closed with an event consisting of riderless horses along a straight section of road. The role of the horse in military applications also appears to be linked to the origins of horse racing. Military horses were required to be fast and strong, and the riders developed their skills of horsemanship to match. The earliest recorder purse being offered on a horse race in Britain was in 1198, under the rule of King Richard the Lionheart. Military horses were used, with their Knights riding. A sum of £40 was offered to the winner.
Around the 16th century, King Henry VIII began importing horses from Italy and Spain with the purpose of breeding, and it was then that first stud farms began. By the mid-1600s, organized horse racing events were taking place in Britain, France, and America. The formalization of horse racing as a sport soon followed, with governing bodies being set up to regulate it.
Horse Racing Facts
- The average racehorse lives to about 30 years, but they are usually retired from racing by the age of 15.
- No horse older than 18 has ever won a race, according to records.
- Some stallions have earned their owners more as stud horses than they did while they were racehorses.
- A racehorse generally weighs around 450kg, far less than a normal horse.
- The highest speed recorded by a racehorse is 43.97mph. The horse was Winning Brew, and this record was set in Pennsylvania in 2008, over 2 furlongs.
- Regardless of when in the year they are born, all racehorses share the same birthdate. In the Northern Hemisphere, this is January 1st, while it is August 1st in the Southern. This is done to simplify the ages of the horses for entry into events. A race that only accepts 3-year old horses, for example, cannot have the same horse win it two years in succession.
- All modern thoroughbreds are so inbred that they can trace their linage back to just one of three horses.
- The most expensive thoroughbred sold at auction fetched a cool $16 million! It never won a race.
- A racehorse can consume 20 pounds of food and 13 gallons of water a day.
- Over $100 billion is bet on horses worldwide every year.
Conclusion
Horse racing is one of the oldest sports still in existence today, and horse racing betting is the oldest form of sports betting. The variety of betting markets within the sport make it attractive for bettors, and by studying the field before an event, including the horse and jockey’s recent form, a reasonable good bet can be made by an averagely experienced bettor. There are horse racing events every day of the week across the world, and the coverage of horse racing betting sites allows you to bet on almost any race from anywhere on the planet. Horse racing is a massive industry and is growing all the time.
FAQs
Below are some questions that are frequently asked about horse racing betting. We hope you find the answers informative.
How to bet on horse racing?
With betting available online and through mobile apps, access to horse racing betting has never been easier. Always look at the horse and jockey’s recent form and the events in which they perform well. If you are still unsure about how do you place bets on horse racing, start with small stakes and simple Win or Place bets until you gain confidence.
What is the best bet to make on horse racing?
The safest and most beginner-friendly option is the Place bet, where your horse only needs to finish in the top two or three (depending on race size). It doesn’t pay as much as a Win bet, but your chances of success are higher The alternative is Each-way bet, which covers both Win and Place.
What is a place bet in horse racing?
In the place bet, your chosen horse must finish the race in either first or second place. The odds are lower than a win bet, but your chances of winning are slightly better.
What do 5 to 1 odds mean in horse racing?
Odds of 5/1 mean that for every $1 you bet, you’ll win $5 profit if your horse wins — plus you get your original stake back.
How to predict winning horse?
There is no guaranteed formula, but researching form, track conditions, stats and the racecourse parameters help to make informed prediction.
How do you bet on horse racing?
If you’re wondering how do you place bets on horse racing online – the answer is simple. Just like any other sport out there – you choose a race, pick the horse you want to back, select your bet type and place a bet.
