Best Horse Racing Betting Sites in 2023

How Horse Racing Betting Odds Work

Horse racing betting odds can be scary at first, however they actually work in a very simple way. Check out the odds of the three favourite horses from a real race below - afterwards, we’ll go through exactly how to read and understand them.

Geranium: 2.10 (11/10)Geetanjali: 3.75 (11/4)Seascape: 6.50 (11/2)

The lower the decimal or fractional value, the more chance the sportsbook thinks the horse has of winning. So, Geranium is the clear favourite in this race.

To work out odds, multiply your bet by the horse’s decimal odds. So, a 100-rupee bet on Geranium would lead to a prize of 110 rupees, while the same bet on Geetanjali offers a prize of 375 rupees. 100 rupees on Seascape has a prize of 650 rupees.

If you’d prefer to use fractional odds, divide the first number by the second, then multiply by the stake. So, Geranium’s odds are worked out by dividing 11 by 10 and then multiplying by 100 rupees. You then need to add on the stake.

We would recommend using decimal odds, as they’re quite simply the easiest to work with. If you see moneyline odds, avoid them - they’re mainly used in the USA and are far more complicated.

The best way to start understanding odds is to head to a sports betting site and make some small bets. You can then see exactly how much you win when a bet is a winning one.

Most Popular Online Horse Racing Bet Types

Win bet – This is the easiest bet to make - simply select the horse and rider you think will win the race.

Place - A bet on a horse to place means that you think it will finish in one of the first two places.

Show - This is the same as a place bet, however you also win if your horse finishes in third position.

Each way - When you bet on a horse to finish in the top 3, 4 or 5 (race dependent). The bet is double a standard win bet.

Across the board - When you bet across the board, you make three bets, all of the same size and on the same horse. They are on a horse to win, place and show.

Quinella - This is when you bet on the two horses to finish in first and second. You do not have to predict their finish order.

Exacta - This is when you bet on the two horses you think will finish first and second. You must also predict the order they will finish.

Trifecta - When you bet on the horses you think will finish first, second and third. You have to predict the exact order they’ll finish.

Pick 3/4/5 - This is when you bet on the winner of consecutive races at a race meet. So, a pick 3 would see you trying to predict the winner of 3 consecutive races.

Horse Racing Betting Tips & Strategies

Use an app - There are loads of horse racing betting apps for mobile gamblers and they are incredibly useful. You can use them to bet with, plus you can also browse markets and deposit/withdraw money.

Know the form - The best horse racing gamblers have huge knowledge of horse racing. This allows them to make educated predictions. If you want to consistently win, immerse yourself in the horse racing world.

Consider each way bets - Each way bets are great if you’re not too sure of a horse’s chances. This is because you’ll win a prize if the horse finishes anywhere near the front of the field.