To the beginner, betting on a horse may seem complicated and can be a daunting experience if you’re not equipped with the correct information. However, once you have the know-how, horse betting is a thrilling and rewarding form of gambling. So, let’s get back to basics.
First, you will need to find your race meeting (location of the race e.g. Chester racecourse). Each race meeting will have multiple races during the day starting at a specific time, therefore, next, you’ll need to find the time of the race you want to bet on.
After you’ve found the meeting and the time of the race, you’ll be able to view each horse that’s in the running. You’ll also be able to view the ‘Each-way’ (EW) terms for that race. For example, if it states:
E/W Terms: 1/5 odds first 3
This means that if you place an each-way bet and your horse comes in 1st, 2nd or 3rd (first three), you’ll get a return of 1/5 on the initial odds.
All the odds will be visible for each horse if you’re backing a horse with short odds (e.g. 1/2) the horse is more likely to win, but it will give you fewer returns. If you bet on a horse with long odds (e.g. 50/1) it’s less likely to win, but it will give you a higher return.
Betting £1 on a horse at 50/1 that comes in 1st will give you a return of £50 and the £1 original bet (£51 in total).
Most places will highlight a ‘favourite’ horse to win, but that doesn’t necessarily mean that they will.
Every race card (information about the horse) will show the jockey (J), trainer (T), owner (O) and Breeder (B) of the horse. It will state the age of the horse (e.g. 5yo is 5 years old) and have a short sentence about the horse’s history in recent races.
From the race cards, you can gather knowledge to make a well-informed a bet and it’s definitely worth having a glance at.
Once you’ve picked your horse, it’s time to choose the type of bet you want to make.
This is where you’re backing one horse to win in one race. For example, you’re betting £10 on Black Betty to win the 12.30pm race at Chester.
Each-way bets are where you can bet on a horse to win and to place. For example, you’re betting on Black Betty to come 1st, 2nd or 3rd (depending on the each-way terms) at the 12.30pm race at Chester.
Remember with an each-way bet, you have to pay for the place too. So, if you put a £1 each-way bet on, the total stake will be £2.
There are various multiple bets you can choose from (double, treble, Yankee etc.) where you can choose multiple horses from multiple races. Research this type of bet, so you know exactly what you’re betting on and what you can expect your returns to be.