Betting on horse racing is one of the most popular forms of betting in both the UK and the USA. Other nations with a strong horseracing following include France, Australia, Canada, Hong Kong, and Malaysia, while fans in Japan are known to have a special thing for this sport. One of the most important elements of wagering on any sports betting market is the odds. Here we will examine the many factors that determine horse racing odds, and what you should look out for when placing horse racing wagers.
There are three main elements that affect the sportsbook odds, and these are:
- Racer-related factors
- Human-related factors
- Event-related factors
So, let’s examine all these in greater detail and explain what are all the elements that can affect the odds for this betting market.
It is obvious that the horse’s own characteristics will influence its odds. Several subfactors contribute to this, as we illustrate below.
- Horse shape
- Parade ring form
- Previous race
- Racing history
- Technical issues
As a first step, a horse’s shape represents its past achievements. This information is provided on the back of a race card and is shown as a number indicating where the horse placed in their last race.
In a parade ring, the racer’s shape can sometimes provide insight into its mental and physical condition. An unfit horse is significantly less likely to win a race if he/she shows signs of limping, agitation, or a poor handler relationship.
Another influential factor is their performance in the most recent race, regardless of the quality. The horse’s reputation should also be added to this list, as well. Additionally, a horse’s jumping style will affect the odds available at the best payout online casino sites, since some racers make more mistakes than others. Last but not least, new equipment may lower the odds since improvements can be significant.
The Human Factors
Horses’ odds are also affected by the people around them, spectators, commentators, and those who bet on them. Here’s a list of all the human-related factors that can affect the wagering odds significantly:
- The jockey – Jockeys can ride to victory regardless of whether they are new to the sport, that is, if the racer is fit to perform well
- The trainer – There are some trainers with a vengeful track record in today’s racing. Horses trained by top trainers usually have good past records on certain courses and do well in big races, so betting odds usually favor them in major events.
- The owner – Some owners are extremely popular with the public and their horses’ odds seem to go down as a consequence.
- The commentators – A commentator will often have an opinion or an interest in a particular racer. In general, they are usually fairly knowledgeable, but as we all know, when the race begins, anything can happen.
- The tipsters – When a powerful tipster suggests a horse to bet on, the odds for that horse will tend to go up, and the bookmakers will react by adjusting the odds accordingly.
A horse’s odds can be impacted significantly by the race itself for a number of reasons. Thus, when looking at horse racing odds you need to be aware that race classes can also affect odds. And let’s not forget to mention the race distance and the type of race. In addition, bettors need to be aware that track conditions, the form of other runners, and the herd mentality can also affect the odds. Besides, chances can also be affected if a racer is withdrawn from the race for any reason. At times, wagering odds can depend on the overall betting market. Thus, when placing bets you also need to consider bookmakers’ starting prices, liquidity of the market as well as backers and layers.