A guide to the types of bets involved in Horseracing
New to the field of horse racing? Want to bet but don’t know what bet to make? Zero know how of the workings of the betting system? No need to worry, for you have come to the right place to have your questions answered. Here is
a guide to the most prevalent types of bets involved in the horse racing industry. Read on to get a better idea of which bets to make.
The first thing you should know is that as with any other betting sport, horse racing also involves two basic types of bets. These are Win and Each Way. We will categorically analyze and evaluate each one in detail.
Win bet
This is the most basic type of bet that you will come across. In order to make the bet, you need to select the horse you want to bet on. In this case, you will bet on the horse winning the race. The odds of the bet will be told
to you by the bookmaker that you want to consult. Once you know the odds, you will know how much you will win if you win the bet. After knowing the odds, you will make your stake. If, in case, the horse you have bet on wins, what you get back is the stake
as well as your winnings. The winnings are determined by multiplying the stake with the odds. In the event of the horse losing the race, you will also lose your stake.
Check out the following example to have a better idea of how it works:
Horse selected: Red Dragon
Odds: 12/1
Stake: $ 40
In case bet wins: winnings equal to stake plus stake multiplied by odds i.e. $40 + ($40 * 12) = $520.
In case bet loses, then sadly, you go home with -$40.
Each Way bet
This bet gets a bit complicated than our simpler win bet. As the name suggests, it involves two bets. One bet is the win bet just described above while the other is a place bet. The Each Way bet will have separate odds for both
the win bet and the place bet. As they are two bets, your stake will also be times two. For instance, if you make a stake of $50 on the each way bet, then it is costing you $100 practically because one $50 is being staked at the win bet while the other is
going to the place bet.
The place bet acts as a plan B in case your win bet loses. The bet is placed on the position of your horse. Hence, even if the horse has not won the race, but was able to secure a position, you have won the place bet.
The following example will clear how the Each Way works.
Horse Selected: Black Dragon
Bet: $50 each way bet on Black Dragon at odds of 25-1
Each way terms: 1/5 1,2,3 (where 1,2, and 3 are the possible positions you say Black Dragon will secure)
Stake: $100 ($50 for win bet+$50 for place bet)
Now, there are three possible scenarios of the each way bet. We will deal with them one by one.
Scenario 1: Black Dragon does not win, neither does it secure a position
You go home with -$100 as both of your each way bets have lost.
Scenario 2: Black Dragon does not win but secures position
You lose on the win bet, but win on the place bet. Your winnings will be calculated as follows:
$50*5=$250+ your stake back. This gives you a total of $300.
However, as you have lost the win bet, which was staked at $50, your net profit will be $300-$50=$250.
Scenario 3: Black Dragon wins the race
This is the perfect example of an ideal situation that you would want to have as a bettor. Both of your bets have won and your winnings will be calculated as follows:
For win bet: 25*$50=$1250+ your $50 stake back, the total being $1300.
For place bet: 5*$50=$250+ your $50 stake back, the total being $300.
Net amount: $300+$1300=$1600.
Other popular bets include Lay bet, Double bet and Treble bet.
This should give you a good idea of how betting works. Try yourself out by betting in the next race.
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