Horse Racing Betting Guide
New to betting on Horse Racing? We've got everything you need to know below, including explanations of some of the popular markets for betting as well as important rules it's worth knowing before placing your bet.
Popular Markets
Race Winner - betting on the race winner is the most popular form of betting on Horse Racing and simply involves picking the winner of the race. Providing all horses run, you'll be paid out at the advertised odds.
Each Way Betting - betting on a horse "Each Way" involves placing two bets, one on the horse to win and the other on the horse to place. A £5 Each Way bet for example would cost £10 to place in total. The win part of the bet will be paid at the standard win odds, and the place part will be paid depending on the "Each Way Terms". At the top of each racecard you will see something along the lines of "EW 1/5 1-2-3" which means place bets are paid at 1/5th of the advertised odds if your horse finishes in the top 3 (note the 1-2-3). So for example a £5 Each Way bet on a horse at 20/1 with Each Way Terms of 1/5 1-2-3 would return £105 from the win bet (£5 x 20 + your stake) and £25 from the place bet (£5 x 4 (1/5th of 20) + your stake) giving you a £130 total return.
Forecast - A forecast involves not only picking the winner, but also predicting which horse will finish 2nd in the race. You can either choose to place a bet on which horse exactly will finish 1st and which horse exactly will finish 2nd, or you can choose either horse to finish 1st and either to finish 2nd. The latter involves placing 2 bets to cover both outcomes, so only one of these can win.
Betting Without - betting on the "betting without" market means exactly what it says on the tin. You're betting on a horse to win, but excluding a specific horse which will be displayed on the betslip as "W/O" meaning that particular horse is excluded from the market.
Top Finish - also known as place betting, this is simply to bet on the horse finishing in the Top X of a race, with X being the number of places. A Top 3 for example would need the horse to finish 1st, 2nd or 3rd.
Winning Distance - betting on the winning distance of a race means picking the winner and how far they will win by. A win is usually measured in lengths, with 1 length being equal to the length of a horse.
Horse Racing Jargon Buster
When betting on Horse Racing there can be numerous terms and phrases used that you might not be aware of. This handy guide will help you to break through the jargon and understand what's really going on!
Rule 4 - Rule 4 is something that is applied to bets when a horse is removed from the market due to being a non-runner. Because the market has now been affected by that horse not running, it means bets need to be re-calculated. This involves something called a Rule 4 deduction. An example of a Rule 4 deduction could be a 10p Rule 4, which means that for every £1 you would have won if all horses ran, 10p will be deducted due to the late removal of one of the horses that was supposed to be running.
Non-Runner - A non-runner is a horse that was initially supposed to run in the race but has been withdrawn. This is normally due to weather conditions but can sometimes also be because of the horses health.
Dead Heat - A Dead Heat occurs when two horses or more cannot be separated and the race is therefore declared a draw or a "dead heat". In these instances your payout will differ from what you should have received, as your stake is divided by the number of horses involved in the dead heat and then multiple by the odds. So for example, if you placed a £10 bet at 5/1, your normal payout would be £10 x 5, plus your £10 stake, so a £60 total return. If a head heat were to happen, your payout would be £10/2 x 5, plus your £5 stake, so a total return of £30.
The "Going" - the going of a course simply means the ground conditions. This can be anything from Firm, Good, Soft, Heavy or Yielding and can also be a combination of those such as "Good to Firm".
Class - the class of the race is used to identify the calibre of horses that is running. A Class 1 horse race is the best of the best while Class 6 will be lesser talented horses taking on each other. The class system is used to give a level playing field to those horses who are competing.
Distance - the distance of a horse race is simply the length that it takes place over. This is normally measured in miles and furlongs with 8 furlongs being equal to a mile. A race over "1m 4f" for example is over 1 miles and 4 furlongs, or 1.5 miles.
Form - the form off a horse is how it performed in recent races. It's normally shown underneath the horse on the racecard and will be something along the lines of 4432-F12. Here's a quick guide to understanding the various numbers and letters shown there:
- 432 etc - The numbers on the form card denote the finishing position in that race with 1 being 1st and 4 being 4th etc.
- F - Fell
- R - Refused
- U - Unseated
- - (dash) - A break in runs, normally at the end of a season
- / - A longer break in runs, normally if the horse misses an entire season
- P - Pulled Up (the horse didn't finish the race)
- BD - Brought Down (the horse was brought down by another horse in the race)
Form on a racecard is always read right to left, with their most recent run shown on the right hand of the numbers. For example, form of 4321 would indicate that the horse won on it's last outing.
J: / T: - Where you see the J: and T: on a racecard, this is to show the Jockey and Trainer of the horse in question.
Ante-post - betting on a horse ante-post simply means betting before official declarations have been made. Betting on the Grand National in January for example would be betting on horses without knowing if they are actually going to run in the race, and as such there is some risk involved as the odds displayed not only take into account the consideration that the horse in question will win, but also that the horse will actually take part in the race.
Favourite / Fav - the favourite in any race is the horse most likely to win according to the odds. You will also hear phrases such as Joint Favourite / Jt Fav which is when the two horses with the lowest odds are equal or 2nd Favourite / 2nd Fav which is the 2nd most likely to win according to the odds.
Starting Price / SP - instead of taking the odds on offer on a racecard, you will also see a button which says SP which means Starting Price. This means you're taking the odds of the horse when the race starts rather than at the current time you place the bet.