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Horseracing Bets
Sportsbooks vary in the extent of their coverage of horseracing, however, the following horseracing betting markets are standard amongst bookmakers who cover the sport and offer punters access to betting pools:
- Show Betting: Betting on a selection to finish in the top three of a race
- Pick 3: Betting on the winners of three consecutive races
- Pick 6: Betting on the winners of six consecutive races
- Quinella: A bet on two horses finishing 1st and 2nd in any order
- Perfecta/Exacta: A bet on two horses finishing 1st and 2nd in a specified order
- Trifecta/Tricast: A bet on three horses finishing a race 1st, 2nd and 3rd in a specified order
- Superfecta: A bet on four horses finishing a race 1st, 2nd, 3rd and 4th in a specified order
- Jackpot: A selection of six horses to win in six races, which pays out a substantial prize from a pool
- Betting without the favourite: This bet disregards the finishing position of the favourite in a given race
- Insurebet: Insurebets refund the stake on a selection for a winner that finishes a race second. Odds are slightly reduced in this market
- Match Bet: Match betting matches two horses against one another in a particular race. Whichever horse achieves the better finish wins the bet
Form and Racecards
When betting on racing punters have the option to review race cards for the participating horses. These racecards provide crucial information on a horse’s recent form, rider, trainer and the weight it will carry in a race. Some sportsbooks offer the useful feature of allowing punters to make selections directly from the racecard.
While a racecard gives you the basics you need to make an informed selection for a race, the best bets are the result of more intensive research. Before making a selection it is useful to review a horse’s record over the distance being run, its past performances on the racetrack being used and its suitability for the ‘track’s ground conditions.
Placing Horseracing Bets
Antepost betting markets for the biggest thoroughbred and jumps races are open throughout the year. These markets offer high odds, but carry the risk of selections not running in the chosen event due to injuries and withdrawals.
Bets placed closer to the event minimise the chances that a selection will be withdrawn, and usually offer no-runner refunds when selections miss out on the race for any reason. The disadvantage of late betting is that odds are often lower by this time, with prices more accurately reflecting recent form.
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