How to Bet on Horse racing

Opportunities to bet on horseracing are plentiful, and punters generally establish a preference for certain types of bets over time.

Types of Bet
Some prefer to place single wagers while others opt for multiple bets, consisting of two or more horses. In either case, there is the option of backing a horse(s) to win or each-way.

Each Way Bets
In most instances, the place portion of an each-way bet is paid at a quarter the odds. Therefore, if a punter placed a bet of £10 each-way (£20 in total) on a horse at odds of 10/1, the return would be £140 should the horse win - £110 for the win part of the stake, and £30 for the place part of the stake. Thus, if the horse were to be placed, but not win, the return would be £30.

Yankee Bets
One of the most popular multiple bets is a Yankee, which consists of four horses. A Yankee is made up of 11 bets - six doubles, four trebles and an accumulator. For an each-way Yankee, you simply double the amount of bets. You will need to choose a unit stake for the bet. For example, a £1 each-way Yankee would cost £22.

In races made up of four or fewer runners, each-way terms are not available. For races with five to seven runners inclusive, each-way terms apply to the first and second. For races with eight runners plus, each-way terms apply to the first, second and third.  However, in the case of handicaps with a field of 16 or more runners, each-way terms apply to the first four places.

Forecasts and Tricasts
There is also the option of forecasts and tricasts, whereby the punter predicts which horses will finish first and second, or first, second and third respectively.  Tricasts are available in handicaps consisting of eight or more horses.

Forecasts can be reversed enabling the punter to choose two horses to finish first and second in any order, while a combination tricast allows the punter to select three horses to finish first, second and third in any order.

Ante-Post Markets
Ante-post markets are formed for major races, and generally speaking the earlier a bet is placed, the greater the horse's odds are likely to be, but the risk with ante-post betting is that, if your selection does not take part, the bet will be deemed a loser, therefore the stake will not be refunded.