Most popular ways of betting on Horse Racing

May 19, 2009


Leo O’Brien asked:

Horse Betting is very popular equestrian sports in United Kingdom. There are three popular forms of betting namely the traditional or standard betting; Spread betting and the Tote Betting.

Standard Betting – It is also known as the Traditional betting. Standard Betting is as historical as horse racing. It is still the most popular form of betting. Whenever a person bets on a horse in a race course he is most probably using the standard betting method. Either he bets to win (the horse must win the race for the person to win the bet) or he is betting an each way bet (the horse can finish in the first three or four places).

In either case the bookmaker will quote odds on his board for each horse and these would be fixed, thus non-negotiable. The odds can rise or fall depending upon the amount of the money placed on the individual horses. The price would be decided by the bookmaker.

The person can select the horse he wishes to bet upon and if the odds are acceptable to the person, he will place bet on the horse. He would be provided a ticket depicting the amount of bet, the odds that the bet was struck at and the amount he stands to win.

Most people are comfortable with this type of betting as know the amount they are going to win (or lose) direct from the start.

Spread Betting – This type of betting is more popular in games like rugby, cricket and American football. However it is getting popular in horse racing, day by day. People who are familiar with trading in financial markets often bet on horses in this manner. People either take the jockey index, winning distance and assuming the margin, called as ‘spread’ among them.

Some of the common examples of the spread betting are:-

Favorites index – favorites are the awarded points on the position of horses where the finish the race. So if a person is betting on the favorite index, he is actually betting on the no. of favorites that will win at a particular meeting. Further calculations will be made by the spread betting company and it will quote the no. of points that they accept all the favorites at a particular meeting to amass.

Jockeys Index – The spread betting company quotes a spread for a jockey. The person who is betting would then decide which jockey will have a better day then expected and place bet on him.

Winning distances – the points are divided on the length. They are actually divided into tenths like: 0.1, 0.2, 0.3, 0.5 and 0.75 for short head, head, neck, half of length and three-fourth of the length respectively.

Tote Betting – It is a much safer method to bet in horse racing as the there are low minimum stakes and the losses (if any) are much easier to handle. All collections from the betting are pooled and deduction is made to cover the cost and bookmaker’s share. The remaining amount is broken into winning units and distributed among the winners who have backed that particular horse. The person who bets knows how much he stands to loose. However one does not know the odds while he is betting at the start of the race.

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