How to bet on horse racing
Horse racing and betting have gone hand-in-hand for centuries and the big race meetings, such as the Cheltenham Festival, Grand National and Royal Ascot, remain among the biggest gambling events of the year.
Betting on horse racing is big business with 55 per cent of all punters in the UK having placed a bet on racing in 2023, according to a YouGov survey.
But if you are new to betting sites, you might be wondering how does hores racing betting work? Here’s a handy guide on how to bet on a horse race.
Different types of horse racing bets
There are many different types of horse racing bets and we’ve picked out a few of the more common ones you may wish to investigate.
To win - The simplist of all the horse racing bets to understand. Here, punters are just betting on which horse they think will win a race.
Each way - You bet on a horse to either win or be placed. A horse placing means it needs to finish in a specific position, usually the top three, though this is determined by factors like the type of race and number of horses running. Winning a place bet pays out at a fraction of the main odds and each way bets are usually reserved on horses with long odds.
Forecast - You pick the first two horses in a race in the correct finishing order.
Reverse forecast - You pick the first two horses but they can finish in any order.
Tricast - You pick the top three horses in the correct order.
Combination - Select between three and six horses in a race and state that any combination of these will finish in the top two.
Accumulators - Commonly referred to as ‘an acca’. It is a bet placed on four or more horses in one bet and all horses must win.
Horse racing betting odds
For newcomers to betting, odds can often seem confusing. Bookmakers usually express the odds as fractions such as 4/1 or 5/2.
To understand how they work, divide the number on the left by the number on the right and multiply that number by your stake. For example, 5 divided by 2 becomes 2.5. Multiplying that by a stake of £10 means the potential win is £25.
It’s also worth noting that successful bets include your stake back, unless you are using free bets, in which case the stake is not returned in any winnings. In the above example the winnings are £25 but the bookmaker will also return the initial £10 stake so you can expect a £35 return.
More information about horse racing betting odds is available in our betting odds explainer.
What does SP mean in horse betting?
You’ll often see SP refered to when talking about online horse betting. This is short for starting price, which are the odds of a horse when the race starts.
The odds on a race will tend to fluctuate right up until the competitors get going and the SP is the final price that each runner is available at.
The markets on a race tend to open the day of or around 24 hours before a race, although in the case of big meetings, such as Cheltenham and Royal Ascot, bookies will price up the biggest races months in advance.
Punters then have the option to choose either the odds quoted at the time of placing a bet or the SP. If you choose the latter, the bet is settled on the starting price.
However, taking set odds can be a savvy option with some bookmakers if they offer a best odds guarantee.
The best odds guarantee is offered by plenty of old and new betting sites alike and means that the bookmaker agrees to pay out on winners at the highest price, whether that was the price you took hours before the race or the SP.
Horse racing betting tips
Knowing how to bet on horses can take practice and there’s plenty to consider when looking at our horse racing bets. Here’s a few of the factors you need to consider when making your selections.
A key compent what picking out a runner is the type of terrain the race will be contested on. This is known as the ‘going’ and has different states ranging from Heavy, Soft, Good and Firm.
Some horses will enjoy charging through the mud on soft ground, while others will prefer it to be firmer under foot, so checking up previous results on specific ground types will benefit your knowledge base before you place a bet.
Make sure you also check a horse’s age, weight and form. Age can determine how keen or smart a horse is, with younger mounts tending to be sharper while older horses tend to have a bit more experience and stamina. Weight is important, particuarly when betting on a handicap race, as the less weight a horse carries, the faster it should run, particuarly if the ground if heavy or soft.
Finally, form shows how successful a particular horse has been in its most recent races.
Other factors to look out for are the horse’s trainer and jockey. Trainers and jockeys tend to form close relationships and you will find that the same jockeys ride for a particular trainer’s stable. If that trainer’s yard is producing a lot of winning horses it stands to reason that they are in form.
How to bet on a horse race
If you want to bet on horse racing, the first thing to do is sign up with a boomaker. The Independent have a list of recommended horse racing betting sites.
Here’s a step-by-step guide to online horse betting:
Step 1: Choose an online horse racing betting site via The Independent’s recommendations.
Step 2: Click the section which reads sign up or join.
Step 3: Fill in your personal details such as name and email address as part of the registration process.
Step 4: Deposit an initial amount into your account keeping in mind any promotions or welcome offers you may want to take advantage of.
Step 5: Find the horse racing section on your bookmakers website and select the race you’d like to bet on
Step 6: If you’ve done your homework on a selection, add it to your bet slip and select how much you’d like to wager by clicking confirm.
Remember to gamble responsibly
Customers must ensure they follow responsible gambling practices from the second they sign up for a bookmaker online. Even if you’re knowledgeable about horse racing any bet can still lose.
Betting is not a way to make money online and should only ever be considered a form of entertainment. Set budgets and always remain in control.
The same applies whether you’re using betting sites, casino sites, slot sites, poker sites or any other form of gambling. It’s particularly important not to get carried away by free bet offers or casino offers, both of which are available in abundance on gambling sites, but must be approached with caution.
Whether you think you know how to bet on horses or not, you may want to take advantage of the responsible gambling tools offered by bookmakers to stay in control, such as deposit limits and self excluision options.
Should you wish to seek help for gambling-related issues, there are multiple charities and healthcare providers who offer support and information:
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