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The Absolute Beginners Guide to Betting on the Nags!
20/05/13

Are you one those of people who promise yourself every year that you are going to get to hang of betting on horses at the races? Don’t know your odds from your accumulators, well let’s figure it out. Derby Day is coming up on the 1st June 2013 so let’s get up to speed.

© Caroline Norris

horse race
Betting odds

Odds can be described as long or short. A Short odd means that our horse is likely to come in 1st place. Long Odds mean that our horse is very unlikely to win.

Types of horse racing bet

There are many different bets available in horse racing. The simplest is the ‘win’, your horse must come 1st and your winnings are determined the odds available. Although the most assessable bet from a putter perspective, this isn’t the bookies favourite type of bet. Betting ‘each way’ effectively included place two bets in one, first you bet for the horse to win and for our horse to be placed. You can also choose a ‘place’ bet where you win on the basis you horse come 1st, 2nd, or 3rd.  Forecasts and Tricasts comprise of choosing multiple horses for specific positions such as 1st, 2nd, or 3rd. The ‘reverse’ variation of Forecasts and Tricasts also requires a choice of multiple horses for specific positions but the order is not relevant in this case. Accumulators are where you would select a horse to win more than one race on any given day and can be called doubles or triples.

Picking a winner

There are many factors effecting which horse will win the race and sometimes it just comes down to luck. Here are a few things to point you in the right direction. The favourite, is the horse most likely to win and therefore has the shortest odds. On the Racecard for the day you find a 6 digit number next to each horse, this indicated the last 6 places achieved. Making your choice could be based on your favourite jockey. Alternative taking the biggest risk on the longest odds would provide the best returns if your horse wins. The ‘going’ is the state of the ground on race day, different horses may perform better based that day’s ground conditions. Finally, there is the colour of the jockeys clothing. You may see your lucky colours and choose your horse on this basis.

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