Horse racing has long been a firm favourite among both betting customers and bookmakers alike, with the sport holding a healthy share of the market as a result. Those in Nigeria are able to follow action from around the world, with meetings available to wager upon on a daily basis. Whether it be a race from the Cheltenham Festival in the UK or Kentucky Derby in the United States, our horse racing guide has been established in order to talk readers through the type of bets available, as well as how to develop your own betting strategy surrounding the sport.
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Types of Horse Racing Bets
While standard win and each-way betting markets are undoubtedly among the favourites for horse racing punters, there are a huge number of appealing markets elsewhere that are well worth considering, no matter if you are new to the sport or consider yourself something of a seasoned professional. Bookmakers offer early prices on the majority of major races from around the world, however the timeframe will depend on the individual bookmaker and the status of the meeting. As well as this, a large number of bookmakers now offer some form of best odds guaranteed promotion, which ensures that customers will get the best possible price on winning bets, no matter when it was that they backed their favourite. Odds are constantly updated online depending on their chances of winning, while there are a whole host of sources online where customers can compare prices.
Bet to Win Markets
This is undoubtedly the most straightforward form of betting when it comes to horse racing, with punters betting on the horse in which they believe will win an individual race. An example of this could be a customer betting 10,000 NGN on a horse at odds of 8/1, with successful bets meaning that punters earn 90,000 NGN which includes their stake.
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Each Way Betting
Each way betting effectively means that customers have two chances of winning, with half the stake going on the horse to win the race, while the other half goes on it placing, which will be paid out at a fraction of the winning odds offered, depending on the individual bookmaker. As well as this, the number of place positions offered will also depend on the betting platform, with anything up to six places generally available.
Placed Betting
There are also times when punters will have the opportunity to only bet on a horse with a place bet, meaning that they must finish second or third, or in a place stipulated by the bookmaker beforehand, in order to be successful.
Each-way Horse Racing Betting Strategy
For any betting customer, there is little point in backing a horse with an each-way bet if the odds are shorter than 4/1, with this being the odds required in order to receive a return on your investment. Each way betting is used by those who are reluctant to invest significant money or who are new to the market, with bookmakers looking to tempt customers with extra places on races featuring large fields.
Customers are far more likely to get returns on their investment by placing each way bets on non-handicap races featuring between 8-12 runners. Despite odds of around 1/5 in place generally, non-handicap races can usually be narrowed down to two or three runners when it comes to potential winners. Meanwhile, place betting should be used as part of an overall horse racing strategy, despite the fact that it is difficult to pick an outright winner, especially when it comes to races such as the Grand National at Aintree, where around 40 runners are involved.
Ante-Post Betting
Ante-post betting, occasionally known as futures, is the process involving wagering on horse races in advance of final declarations being confirmed. Such races are key for bookmakers, typically surrounding major meetings from the UK and the US, such as the Cheltenham Festival. The advantage to customers when it comes to ante-post markets is the fact that they can secure prices larger than they would be immediately before a race, with a number of factors combining to determine a runners starting price.
Over recent times, most bookmakers have developed betting promotions surrounding non runners and fallers, which are applied to major meetings once more. This means that customers placing bets whose pick does not compete in the race will receive their stake back in the form of a free bet. Ante-post markets tend to be made available around six months before the race date, however this can be up to a year depending on the status of the meeting.
Multiple Bets
Those looking to earn significant earnings from placing small amounts of cash on horse races should certainly consider multiple bets, which involves wagering on a combined number of horses from different races. The multiple bets available with most bookmakers are as follows:
- Double – 2 horses combined, both have to win for you to receive a return on your wager
- Treble – 3 horses combined, all three must be successful
- Trixie – 3 horses in combined in 3 doubles and 1 treble, 4 bets in total. You only need 2 horses to win to get a return. If you prefer to have the prospect of a return from only 1 winner, you can place a “Patent” which also includes 3 single win bets i.e. 7 bets in total
- Yankee – 4 selections in 6 doubles, 4 trebles and 1 accumulator. You need 2 horses to win to get a return i.e. 11 bets in total. If you would prefer to guarantee a return from only 1 winner, the
- “Lucky 15” also includes 4 single bets i.e. 15 bets in total. This bet can sometimes include the incentive of double the odds if only one selection wins or a bonus if all horses are successful.
Special Bets
Elsewhere, some bookmakers also offer a variety of special bets when it comes to horse racing, which include wagers on individual jockeys and trainers from around the world. As well as this, enhanced odds offers are also found on a number of betting sites, which generally surround specific jockeys or runners to win a major race. Meanwhile, some platforms offer punters the chance to bet on the winning margin of a particular horse, with others refunding bets placed when a pick falls or is disqualified.
Multiple Betting Horse Racing Strategy
The reason as to why multiple bets are placed is the hope of a huge windfall from a relatively low stake. However, there are also plenty of ways in which customers can cut down on losses. The majority of successful horse racing betting customers will argue against each way betting and multiple wagering, however both certainly have their advantages. The prime example of this is undoubtedly from back in 1996, when Frankie Dettori won seven races at Ascot, at accumulative odds of 25,000/1. However, unfortunately, the majority of punters are never likely to be blessed with such luck in terms of betting on this outcome, although it shows just how much prices can rise when placing multiple bets.