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Horse Racing Odds and Markets, it’s Simpler than it Looks

Horse racing generates around $116 billion in revenue worldwide, that’s why it is a must-have element for the majority of sportsbook operators. Once you realise how the odds for horse races, it is fascinating how much variety you are presented with and how strategic you can prove yourself as a punter.

For those gamblers who are relatively new to horse race betting, here are the basic tips, odds and markets to get you started,

Odds

The shorter the odds are on a particular horse, the stronger the horse is seen by traders and gamblers. On the other hand, if the horse has longer odds, this means that the chances he has to win are much less. Let’s say that Horse A is priced at 2/1 odds, the chances he has to win the race are 2 to 1. If you place $10 on Horse A to win the race, and he does win, your prize will be a total of $30: $20 being your actual winnings and $10 being the money you initially staked.

Another example: if Horse B is priced at 150/1 to win the race and you stake $10, and he wins, your total prize will be $1510, again $1500 being your actual winnings and $10 being your initial stake.

Please note that odds, like in other sports competitions, tend to often change, and the price previously given to a horse, can highly differ at the very moment of the start of the race. But that’s where the fun begins. You will enjoy trying to predict odds and experiment with different betting strategies.

Markets

Bookies allow you to bet on a horse race according to different markets. Let’s start with the Fixed Odds Market, the simplest bet to choose from, also known as “Win Bet”. You will just have to place a bet on Horse A, or B or C to win the race.

Each Way Bets: this way, you will bet on Horse A, or B or C to finish within the top places. The winning places depend on how many horses compete in a specific race. For example, if the race consists of 20 horses, the bet is normally offered to the top five or 6 places.

Forecast Bets: This bet allows you to place a stake on both the winner and the horse that comes second.

Reverse Forecast Bets: slightly similar to Forecast Bets, here your stake is on the exact places. You can bet on two horses to finish in either first or second position, no matter what the order is, as long as they arrive at the first two places.

Tricast Bets: Punters can place a bet on the top three horses to finish in an exact order. Again, the order doesn’t matter, as long as they place at the first three positions.

Accumulators: basically, you can choose to place bets on two or more races and group them together as it was one bet.

Once you feel comfortable with these initial bets, you will love to explore other types like Trixie, Yankee, Lucky 15, Canadian, Heinz and many more.