Online sports betting in horse racing offers a large range of bet types, providing a lot of flexibility for consumers. Different betting agencies will offer different bet types, however the ones described below are generally offered by most agencies.
A win bet in online sports betting requires the horse wagered on to win the race and is the most common type of horse racing bet.
With a place bet the horse doesn’t have to win the race, however needs to finish in the ‘placings’ which will vary from the first two horses up to the first four horses past the post in a race depending on the field size. For example, in Australia, in a field of seven horses or less, a horse will have to finish in the first two runners to place, however for races with a field size of eight or more will need to finish in the first three runners to place. It’s important to confirm this with your bookmaker before you make a place bet as it varies in different countries around the world. So, online sports betting requires the knowledge of a specific country. For example, betting in Malaysia, on websites such as betting-malaysia.com, is different from that of China, which is again different from Singapore.
Each Way or Win & Place
This is where you bet on a horse for the win and place to “hedge” your bet in case your selection does not win. This is a popular bet type for horses with longer odds who may have a chance of winning but may not be certain to win.
A quinella requires you to pick the horses that come first and second in a race. Due to this being a little more difficult you receive better odds if you can pick the quinella of a race. Certain betting agencies will allow you to take a ‘boxed’ quinella which allows you to select more than two horses when placing the bet at an extra cost. This gives you more flexibility when trying to pick the quinella, as in a lot of cases
there will be more than two chances in a race.
A trifecta requires you to pick the horses who come first, second and third in a race. This bet type will again provide with better odds if you are successful due to the increased difficulty. Again there is a range of “Trifecta” bets you can place which give you a better chance of winning but come at a greater cost. If you are interested in playing the “exotic bet types” such as quinella or trifecta betting you should ensure you are aware of the all the different types of ways these particular bet types can be placed, to give you the greatest chance of winning with your particular system.
This is a bet type that has become particularly popular in recent years with the introduction of numerous corporate bookmakers around the world. This bet type allows you to multiply together two bets you like with the odds being simply calculated as the odds of the first bet multiplied by the odds of the 2nd bet. For example if you like one horse at 3.00 and another horse at 4.50 in a different race, you can take a Racing multiple or double which will require both these horses to win and you will receive a price of 14.00 (3.00 x 4.50) if they salute. This is the most simple example of this bet type.
Depending on the bookmaker, sometimes you can multiply up to 10 or more horses to win giving you in certain cases extremely large odds. Some bookmakers also will let you multiply a horse to win, into a horse to place in a different race which is also a very popular form of this bet type and gives you more flexibility when wagering. Multiplying horse racing bets into sports bets is also available through certain bookmakers. This a great way to increase prices significantly on sports bets you believe are a “lock” due to the higher odds offered in horse racing markets as compared to sports allows you to increase your price by 200-300% simply by taking a horse who is favorite in a race.
The introduction of betting exchanges such as Betfair, which pit one punter against another punter giving them the ability to not only bet on a racehorse but now lay a racehorse to lose, has seen the betting landscape changed forever. The ability now for the punter to play the “bookie” broadens their betting options considerably, and has seen many “hobby” punters turn into professional punters in recent years as it can be essentially like playing the stock market from home. As mentioned above, “laying” a horse is essentially betting against that horse. You could lay a horse to win a race, or lay a horse to place in a race. It simply spins you from being the punter to essentially being the bookie on the transaction.
Another punter will put up odds they wish to back the horse at (say 5.00) and you have the choice to either lay the horse at that price and risk paying them if it wins, or put up your own price you wish to lay the horse at (say 4.50) and hope someone is willing to bet on the horse to win at that price. If they don’t then you simply get your money back to trade again on the next race if you wish.
These are just a selection of the most common bet types horse racing provides you with. There are several more you will learn once you begin to trade, however these are the basic best types to begin using initially as you are growing your knowledge of the sport.
In online sports betting, choosing the right bookmakers to use is a critical part of being successful. You need to do your research, particularly with the bet types they provide to ensure that they give you the flexibility to maximize profits using the particular betting system that suits you. With the market for corporate bookmakers increasing and becoming more and more competitive, options for
Punters have never been better. Look out for promotional offers with free bets upon joining and other perks which can be used with the right system to kick you off without having to contribute your own capital.
You will need to open up more than one account to ensure you can compare odds between agencies and spread bets if you are staking large amounts as some bookmakers won’t take certain bets. There are reviews a plenty on the internet on each bookmaker so take some time to read these and choose the bookmakers which will best service your wagering needs.