UK Horse Racing Tips

Archive for the ‘Musings’ Category

Win Bet

This is the most straightforward type of bet. A ‘win bet’ means picking the outright winner in a given event. It can involve any type of sport, though in keeping in line with the theme of this site, it can be expressed as a wager on a horse to finish first in a race. If you win you will get your stake back, as well as the winnings based on the odds of your horse.

Example: You place a £100 bet on ‘Four Leaf Clover’ at 5/1

If the horse loses, you lose your £100 stake. If it wins, your stake is returned, along with a multiplication of your stake (so £100 x 5 = £500). Including your original stake, your total return would be £600.

Each Way Bet

An each way bet consists of the win component as detailed above, and a place element, which typically pays out at 1/4 of the win odds. The terms of the place odds differ depending on the number of horses in the race in question. Each way 1/4 or 1/5 odds for 1,2,3 place is relatively common.

Example: A £50 each way bet, involves a total expenditure of £100

£50 of the bet is a standard win bet (if the horse wins, you win this part of the bet)

£50 of the bet is a place bet (if your horse is placed, you win this part of the bet)

So if, for instance, a horse finishes fifth, you lose the entire bet (the win and place bets).

If the horse wins, you win both the win bet and place bet.

If the horse finishes second, you lose the win portion of the bet, but win the place portion. The place winnings are based on the place fraction. If the place odds are 1/4 and the horse odds are 20/1, then the place odds are 5/1 (one quarter of 20/1).

Place Bet

In some betting environments such as betfair, you can place pure place only bets. Here the place bet is the same as the place portion of an each way bet. It does not involve a seperate win bet, though it does resemble a win bet in that there are, unlike an each way bet, only two outcomes, either the horse is placed, or it is not. If you bet £50 and the odds of a horse placing is 3/1, you’ll win £150 plus your £50 stake (so £200 in total). Whether the horse comes first, second or third is immaterial as long as it places.

Be sure to check the place odds of the event that you intend to bet on, so that you’re aware in advance of your potential returns.

Lay Bet

Lay betting involves betting on a negative outcome, for instance betting on a horse to lose. If the horse loses, you win the bet, if it wins the race, you lose. Betting Exchanges such as betfair, where you can effectively play the role of a bookmaker, have increased the popularity of lay betting over recent years. In this type of bet, you set the amount you’re willing to lose (say £500) and you can take a bet (or bets) up to that threshold. If the horse was 2/1, then the
backer would bet £250 to win your £500. If you took that bet, and it lost, you would win their £250 stake.

Doubles, Trebles, and Accumulators

A double bet is a bet on two selections, both must win to gain a return. A treble bet is the same, but for three selections. An accumulator is a bet on four or more selections; again all must win to gain a return. Returrns can be high, though the odds of winning are obviously diminished by the number of bets involved.