If you find horse race betting a little confusing, you may not be the only one. To be successful at betting, you need to know the lingo. Click here to find out more.
Not many people divulge into the idiosyncratic language of horse betting, however, if you are keen on knowing what it is and how it works, we have the right information for you, simplified.
There may be a few words you should know before placing your bets, as well as the different types of bets you can choose from. Below we explain a few of the important and common ones, as well as give you a bit of direction in choosing the horses to keep an eye on.
Types of Horse Bets
If you thought they were just one type of horse bet, you will be mistaken. There are several different types to choose from.
As the name suggests this is the most straightforward type of bet you can place on a race and possibly has the best horse racing betting odds for the majority of players, and involves three types of bets in this category:
- A Win Bet: If your horse finished first, you win the bet and money.
- A Place Bet: If the horse you betted on comes in 2nd or 3rd you win money.
- A Show Bet: If the horse you placed your bet on comes in either 1st, 2nd or 3rd, you win money.
Under this type of bet is two different options:
- The Vertical Bet
- The Horizontal Bet
They are either race to race “parlays”, which means you can bet on one game win at it, and use that prize money to bet on a second game and accumulate the winnings in the end. Simply put, a parlay bet is one where you reinvest your winnings. This can be done between 2 to 6 races consecutively. The other option requires you to predict the exact order of finish of a single race i.e. which horse will finish the race 1st, which one will be next, and so on.
Picking Your Horse
There are a few things to consider when choosing the horse(s) to place your bet on. The majority of the information should be in the information guide available at the races, this is typically known as a “form guide” which has data on the horse’s performance. Each race will have one. It is up to you to analyze the data in one of these. Things to look out for include:
- Stall or Gate position
- Finishing place from its previous races
- Data about the trainer and jockey
- How many days since it last raced
- Previous information on course wins and distance covered
- The official ranking of the horse and jockey
These should give you a pretty good indication of which one to place your bet on.
Horse Racing Jargon
A few things to know about the language used:
- Price: the odds of the bet you have been offered
- Fixed-odds: is a type of bet where the odds are advertised by the operator at the time of the bet.
- Late money: when a horse is heavily betted on in the final stages before the race begins.
- SP/ Starting Price: the odds that the horse started the race with.
- Short odds: a horse that has a high chance of winning the race.
- Long odds: a horse that has a low chance of winning a race.
- Evens or EVS: when you bet on a particular horse and make a profit i.e. if you bet 31 you will get £1.
We hope the above quick guide helps you win that race with ease!