Most Important Reasons to Compare Odds:
Just like any other sport, betting odds are needed in order to make more profits in horse races. The best betting odds for horse racing will help you understand the bets you are placing so that you can beat the odds and win. The best bookmaker horse racing odds are usually shown on a tote board near the tracks or at the ticketing section on the website. Along with the ticket information, the winning odds are written on the ticket under the basic information category for each horse. The betting odds of horse racing will not tell you how the horse is going to win, but it will give you a fair idea about the profits that you would get if a particular horse does win. For example, if your betting odds are 3/5 for a £5.00 wager, you can win £3.00 as a profit.
It is important to know about the horse racing betting odds so that you won’t bet blindly. Odds are the best indicatons of the likelihood of an even occurring, and also give you an idea about how much profit you will win if your bet is successful.
Online vs. Offline: Chasing the Best Odds
Unlike the offline best btting odds for horse racing, the online horse racing comes with race cards. Even though they are confusing, they contain useful information with immense possibilities. A typical race card has the list of horses accompanied by odds, which eliminates the need of you calculating the odds like in offline horse racing. Any online horse racing operator will give you countless ways to wager. You will have all the information about the horse’s position, the jockey’s information, the trainer’s details, the age and weight of the horse, previous results of this particular horse, and other relevant information.
As you can see, winning your bets on horse races is not just about luck. When you’re participating in the offline horse racing, there is a high possibility that the odds that you have calculated are not accurate. However, with online horse racing betting odds UK, you are taking each and every factor into account. Along with that, each operator will have their own bookmaker odds for horse racing for you to draw an efficient and functional horse racing odds comparison to pick out the best bookmaker horse racing odds.
The History of Betting Odds in Horse Racing
Horse races developed as a pastime by following the path of chariot racing, which was popular in the Greek Olympics, dating back to 510 BC. During Roman times, people started racing on horses during religious festivals and associated celebrations. It was during the period 3500-4000 BC, that the evidence of pitting horses against each other has been found. Centuries later, horse racing has developed as one of the most lucrative betting markets in the world. In the UK, the bookies set a shop at the rack tracks and enable the bettors to bet on the horses for the best odds. However, the horse racing betting odds UK have some differences with horse racing betting odds USA.
Many online betting sites are popping up with every new passing day. We at Betting.co.uk, help you choose the best online bookmaking site with our expert reviews and comparisons. In addition, we present you with the best race coverage while helping you find the best betting odds for Horse Racing for almost all the races.
Types of Best Horse Racing Betting Odds:
There are two types of odds that are usually displayed at the horse racecourses in the UK – the fractional system and the decimal system. However, unlike the UK, in the US the American or Moneyline odds are displayed. In online horse race betting, all three types of odds are generally presented.
- Decimal odds: Decimal odds are usually displayed in the number format. You just have to multiply a particular number with the stake and calculate the entire potential returns to win this bet. Unlike the fractional odds, the stakes are included in these odds, which implies that they are the equivalent of total units you win/total units you stake + total units you stake.
- Fractional Odds: The fractional odds are displayed in fractional formats. As we know that they are just math, they are the same as the decimal odds only written in a different format. For example, if you are putting 1 unit at stake, you will win four units along with your stake with the odds 4/1. If your fractional odds are in another way around like 1/4, you will win one unit for four units that you stake while showing that the horse in question is your favourite.
- American Odds: The American odds are usually accompanied by a minus or plus sign. The minus sign indicates the total amount that you have to stake to win £100. The odds are mostly accompanied by the positive sign for the underdogs, indicating the profit for each £100 stake. In either case, you will get what you have wagered and in addition, the amount if you have won. The difference between the underdog and the hot favourite widens the winning probability.
How are Horse Racing Betting Odds Being Calculated?
When you have seen a horse listed 7/2 odds or with a mutual payoff listed, it is not possible as a beginner to understand what they mean. However, you should know how to read the racing odds before placing the bet. Horse racing betting odds are the returns that you can expect when you bet on a particular horse, hoping it would be successful. The odds reflect the money that is invested on the horse. For example, if a lot of money is invested on a particular horse, the odds are relatively shorter. When you see the odds in the form of 5/1, 7/1, you are expressing them to reflect the profit with respect to the amount invested. In other words, 7/2 translates to – for every £2 investment, you will gain £7 in return, and your bet value will be £9. In cases where the horse is at even money (1/1), you will get the same profit as your investment.
How are the pari-mutuel bets calculated?
All the bets are taken into the pool once the wagering is done. A house take is charged inclusive of profits, taxes, expenses and is then deducted from the pool. This amount is known as takeout and it will amount to 15-22% of the pool, depending on the type of the bet and the track.
Payoffs are usually calculated by sharing the rest of the pool among the people who wagered on the winning horse. There are different types in pari-mutuel bets known as:
- Win: You bet on the horse that you know will win.
- Place: You bet on the horse, which is going to finish in the second, but wins even if it comes at first.
- Show: You bet on the horse, which is going to finish in the third, but wins even if it finishes at first or second.
For example, take a six-horse race:
- Horse 1: £100
- Horse 2: £200
- Horse 3: £450
- Horse 4: £500
- Horse 5: £350
- Horse 6: £400
The total amount calculated to be taken in the pool is £2000 out of which £250 is subtracted as the house take.
£2000 – £250 = £1750.
Now, if Horse 4 has won the race; the total £1750 will be divided between people who have bet on it. So taking off the original £500 off it, the left out is £1250.
The payout data is therefore used to calculate the Bookmaker Odds for Horse Racing as they help you in figuring out how much can you win if you have wagered on Horse 4. This is how you can calculate the odds:
Total payout – £1250
Divided by the amount of money wagered – £500
£1250/£500 = £2.5
Therefore, the Best Betting Odds for Horse Racing on this particular is £2.5
Converting them into decimal/fractional format, the bettings odds for the Horse 4 are 2.5-1 which translates to: for every £1 bet, you will get £2.5 additionally. In case if your odds are in decimal format, you can either round them or multiply them with whole numbers to get the right figures. So, the final odds on Horse 4 will be 5-2 or 10-4 in the international betting markets.
Horse Racing Odds Betting Strategies:
Although there are many betting strategies available, the two most popular are the following:
Arb or Arbitrage betting strategy: Arbitrage Betting Strategy is a strategy which makes you take advantage of different Odds offered by different bookmakers. All you need to do is place bets on two different outcomes on different bookmakers, as this guarantees a win regardless of the result of the game.
Matched Betting Strategy: Matched Betting strategy allows you to take advantage of all the bonuses and promotional offers that a certain bookmaker offers. To use this strategy, place a bet that can be covered by a bonus, so that you do not lose your initial stake even if you lose the bet.
The Most Popular Markets in Horse Racing Betting:
There is a wide range of markets offered by bookmakers in the UK when it comes to horse racing. Each way bets are popular. This is where you bet on a horse to finish in the places, either the top three or top four depending on the size of the field. Another popular market can be to bet on how many races a certain jockey might win a single day at a meeting. You can even bet on markets like who will be the most successful trainer of horses at a festival such as Cheltenham.
Horse Racing Odds Comparison FAQ:
Is your odds comparison service free of charge?
We provide all the odd comparison services for free of cost. All the horse racing odds will be mentioned in our site, which is a chief perk you can avail through us.
Why should I not bet with my standard bookie?
It is a good idea to check the odds on offer from several bookies as well as your usual one. This will help you identify the best value odds that are available.
Are there differences between online vs. offline odds?
There can be small differences between the odds you will find online and offline. It is important to check the online odds for value before you bet offline.
What is the pari-mutuel system in horse racing?
The pari-mutuel system kind of betting is also known as the pool betting which is commonly used in most of the short sporting events like horse racing or greyhound racing. The participants are given ranks as they finish the race and all the money that has been wagered on a race are usually taken in the pool. As the race gets over and the take is deducted, the rest of the money is divided among people who bet on the winner.
As a result, you don’t actually know how much you are winning in a pari-mutuel system because the odds are directly based on the number of people that wager. Pari-mutuel betting is quite different from the fixed odds, the spread betting or the money line where you know the payout before placing the bet.
Types of Betting:
#1 Each way Betting: An each way bet is a dual bet placed on first, your chosen horse winning the race overall, or second, on your chosen horse coming in place. Based on the conditions set forth by the bookmaker, you will win a different amount in either case.
- Races with 4 runners and more: 1/5 of the odds for finishing in first and second positions.
- Races with 5-7 runners: 1/4th of the odds for finishing in first and second positions.
- Races with 8 runners and more: 1/5th odds for finishing in first, second and third positions.
- Handicap races with 15 runners and less: 1/4th odds for finishing in first, second and third positions.
- Handicap races with 16-21 racers: 1/5th odds for finishing in first, second, third and fourth positions.
- Handicap races with 22 runners and more: 1/4th odds for finishing in first, second, third and fourth positions.
#2 Box Betting: In the Boxed betting, the player will select the number of horses and covers all the finishing positions. For example, if a player is wagering £1 =on horses 1 and 2 in a race of £2 cost, the bet will be successful if either of the horses place in first or second position.
#3 Wheel Betting: In a Wheel betting, the player selects one or more horses by observing the horses that he is confident in the relevant placing, including all the horses by assuming their probable filling positions.
One of the most interesting aspects of horse racing is that there are countless wagers that you can place. Horse racing betting can be divided into either straight wagers or exotic wagers and each type of wager has different Best Betting Odds for Horse Racing available. By understanding the Bookmaker Odds for Horse Racing you can more accurately predict your profits if you win your bets. With our Betting.co.uk reviews of the Best Bookmaker Horse Racing Odds, you can be confident that you have chosen the right bookmaker to place your bets with. If you are fond of other games such as Tennis,Snooker,Football,Cricket then betting.co.uk which is known best for gambling, will help you in finding best odds Tennis, best odds for Snooker, Best odds for Cricket, best betting odds for Football etc.