Horse Race Betting Explained

Author: Victoria Fell

Horse racing is an extremely popular spectator sport around the world. High profile races such as the ‘Kentucky Derby’, the ‘Grand National’ and the ‘Prix de l'Arc de Triomphe’ are watched and bet on by millions of people. Yet ask the average person and most would have trouble filling out a betting slip, understanding betting parlance or calculating winnings.

First things first however, how do you go about selecting a horse? Many people will pick a horse simply because they like the name of the horse or the color/s of the jockey’s silks (the outfit worn by the jockey). The best way however to select your horse is after you have studied what is known as ‘The Form’. This is information given based on how the horse has performed previously. It will generally look something like this:

₁1 ₂12213 ₃HORSE A ₄18 ₅CD ₆S Gunel ₇5 ₈11-7 ₉P Noel

₁. This is the number of the horse in the race.

₂. This shows the placing of the horse in its last few races.

₃. The name of the horse

₄. The number of days since the horse last ran in a race.

₅. If There is a C then this means the horse has won a race at the particular course it is running in today. If there is a D then this means the horse has won a race at the particular distance it is running today.

₆. This is the name of the horse’s trainer.

₇. This is the age of the horse.

₈. This is the weight of the horse. (Given in this example in Stones and Pounds)

₉. This is the name of the jockey

Now you understand all this, you have studied the form of all the horses in the race and you have selected your horse then you are ready to place your bet.

1. Win Single
2. Each Way Single
3. Win Double
4. Each Way Double
5. Win Treble
6. Each Way Treble

Win Single

If you think your horse will win, then you can place a single bet ‘TO WIN’. If the horse has odds of 8/1 and you bet $5 if the horse wins then you will receive $40 plus your $5 stake, $45 in total.

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Each Way Single

If you are not overly confident in your horse actually winning the race but think it will be placed 2nd (or 3rd or 4th, depending on how many horses are running in the race). Bet your horse each way.

This works like this; If you were to bet $5 each way, then you would be betting a total of $10 as $5 would go on the horse to WIN, and $5 would go on the horse TO BE PLACED.

Here if the odds were 8-1 and your horse won you would collect $40 plus your $5 stake for your WIN, AND $10 plus your second $5 stake for your PLACE.

This is worked out by quartering the odds (it can be a fifth, again depending on how many horses are running in the race or the race type) in this case then 8 divided by 4 = 2, 2 x $5 stake = $10. Total winnings would be $60.

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Win Double

You may have two horses which you think will win and wish to maximise you winnings by placing a WIN DOUBLE bet. This is worked out thus;

Horse A is at odds of 10/1 and Horse B is at odds of 8/1. You decide to bet $5 that they both win,

Horse A wins, $5 (stake) x 10 (odds) = $50 (winnings) + $5 (stake) = $55 (return, this makes your NEW stake)

This goes onto Horse B at 8/1

$55 (stake) x 8(odds) = $440 (winnings) + $55 (NEW stake) = $495 (FINAL RETURNS)

Both horses must win for you to get a return.

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Each Way Double

You place $5 each way on Horse A and Horse B. If they BOTH win then you would calculate the WIN bet first. This is exactly the same as the example above a return of $495.

Then you calculate the second bet, the PLACE bet. Horse A odds of 10/1, divided by 4 = 2.5/1, Horse B odds of 8/1, divided by 4 = 2/1.

$5 (Stake) x 2.5 (Odds) = $12.5 (winnings) + $5 (stake) = $17.50 (return, this makes your NEW stake).

This goes onto Horse B at 2/1.

$17.5 (Stake) x 2 (Odds) = $35 (winnings) + $17.50 (NEW stake) = $52.50 (FINAL RETURNS).

You the add together the two bets and your total return for Horse A and Horse B, both winning in an each way double bet is $495 + $52.50 = $547.50.

If one horse wins and the other is placed OR if both horses are placed you would only get the each way bet returns of $52.50. Both horses must at least be placed for you to get a return.

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Win Treble

If you have three horses you think will win their respective races then you may wish to place a WIN TREBLE BET. This is calculated thus:

Horse A is at odds of 10/1, Horse B is at odds of 8/1 and Horse C is at odds of 12/1.

Horse A wins, $5 (stake) x 10 (odds) = $50 (winnings) + $5 (stake) = $55 (return, this makes your NEW stake)

This goes onto Horse B at 8/1

$55 (stake) x 8 (odds) = $440 (winnings) + $55 (NEW stake) = $495 (return, this makes your NEW stake)

This goes on to Horse C at 12/1

$495 (stake) x 12 (odds) = $5940 (winnings) + $495 (NEW stake) = $6435 (FINAL RETURNS).

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Each Way Treble

You place $5 each way on Horse A, Horse B and Horse C. If they ALL win then you would calculate the WIN bet first. This is exactly the same as the example above a return of $6435.

Then you calculate the second bet, the PLACE bet. Horse A odds of 10/1, divided by 4 = 2.5/1, Horse B odds of 8/1, divided by 4 = 2/1. And Horse C odds of 12/1, divided by 4 = 3/1.

$5 (Stake) x 2.5 (Odds) = $12.5 (winnings) + $5 (stake) = $17.50 (return, this makes your NEW stake).

This goes onto Horse B at 2/1.

$17.5 (Stake) x 2 (Odds) = $35 (winnings) + $17.50 (NEW stake) = $52.50 (Return, this makes your NEW stake).

This goes onto Horse C at 3/1

$52.50 (stake) x 3 (odds) = $157.50 (winnings) + $52.50 (NEW stake) = $210 (FINAL RETURNS)

You the add together the two bets and your total return for Horse A, Horse B, and Horse C all winning in an each way treble bet is $6435 + $210 = $6645

If one horse wins and the other two are placed OR if two horses win and one is placed OR if all are placed you would only get the each way bet returns of $52.50. ALL horses must at least be placed for you to get a return.

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