It will also help you to understand which way is more appropriate to the way you want to bet, because different
people prefer different methods. Maybe you re hoping to interpret a horse racing
tipster more effectively or maybe you just want to understand the basics.
Whichever you are, the following will give you a grounding in what to look
for.
Betting on Horse Racing 101
The three different means of betting on horse racing that we are going to look at are standard or traditional
betting, spread betting, and Tote betting which is more frequently referred to
as betting on the Tote.
I should also mention that recently, matched betting has also risen in popularity but this is perhaps not as common as the
other three and that I will cover it in a separate article.
I would advise that if in particular you re a beginner, that you do not attempt matched
betting unless you have a solid grasp of the standard forms of betting on horse
racing, otherwise you are only going to get confused and potentially lose
money.
Standard Betting Explained
So, the first form of betting that we ll look at is standard betting. This is still the most popular way of
betting on horse racing and the one that most people tend to use when they start
out betting. In fact, its still the way I continue to bet today.
Simply put, when you place a standard bet, whether its a bet to win (where the horse
must win the race for you to win your bet), or an each way bet (where the horse
can finish in the first three or four places), the bookmaker lays out their odds
for each horse and these are set in stone, that is to say they cannot be
negotiated. Odds do fluctuate and change depending on how much money is being
placed on the individual horses, but the prices are always determined by the
bookmaker.
To place a bet in this fashion, you simply select your horse, see if the odds appeal to you and if they do, you place your bet. Once you have
placed this type of bet, as a punter you know exactly what you are going to win
(or lose) right from the start, and so most people are comfortable with this
type of bet since you can manage your money more effectively, and this is so
very important as a punter.
Why Is Spread Betting Different?
Spread betting has become more popular in horse racing in recent years, although it started out as being more popular in sports such as
American football, rugby and cricket; sports where there is potentially a large
flexibility in the winning margin. It is also a popular method of betting for
those who trade the financial markets.
Using this type of betting for horse racing is definitely not for the beginner, nor the faint hearted, as there
is generally the possibility that you do not know how much you stand to lose if
you re unfortunate enough to do so.
To explain this as concisely as possible, spread betting on horse racing is taking either the jockey index,
winning distance or the distance of places between individual horses, and so
involves a fair amount of guessing on the margin, known as the spread between
them.
It can be a very lucrative way to bet on horse racing, however the problem that I have with spread betting is that you re never entirely sure
exactly how much you stand to lose, and so can quickly run yourself into massive
debt without realising it if you are not careful.
It is also a very technical means of betting on horse racing and as I ve already mentioned, I do
not recommend this if you are a novice. In fact I do not entertain spread
betting at all I must admit, it just is not for me.
Betting On The Tote
Betting on the Tote, or Tote betting, is a relatively safe way of betting on horse racing as there are low minimum stakes and your losses are
controllable.
In Tote betting, all of the monies from the bets placed on individual races are collected into what is called a pool . After the cost
deduction of the bookmaker (The Tote) is deducted, the remaining amount of money
is divided out amongst the total amount of winners for that particular
horse.
Just like with standard betting, you know exactly how much you stand to lose if your horse does not win the race, but the Tote is also unique
in that you may stand to win more than you would through the traditional
racecourse bookmakers. Depending on how big the pool is for the race and which
horse wins, makes it possible to win more than you think you will.
It is also down to the fact that the Tote calculates their prices differently to the
traditional bookmakers and is why the Tote is as popular a way of betting on
horse racing today as its always been, particularly for the novice because you
can bet with very low stakes and so it is ideal if you are just starting out.
Author's Resource Box
Cliff Thurston is the owner of Grosvenor Racing Club, which provides horse racing tips to its members. You can also read his renowned horse racing blog for
up to date views and news. Please visit
http:www.grosvenor-racing-club.co
