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RacingGav Guides - UK Horse Racing - Market Movers Explained

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Last Updated on 27/07/2026

Fact checked by: Jordan Noble

What market movers mean for UK bettors

In this educational guide, I’m looking at the subject of market movers and their importance for UK bettors. I’ll cover the two types of movement you’ll see, what they mean, and when you should pay attention to them.

If you’re new to my content, I’m RacingGav and I’m the resident horse racing expert here at Betting.co.uk. I have been in this role since March 2025 and my primary focus is bringing you free horse racing tips. However, I also publish educational guides (like this one), big race trends and more!

If you haven’t seen any of my educational guides yet, I’d recommend that you check them out. They cover a wide range of different topics from betting fundamentals to National Hunt racing, plus helpful articles about individual bookmaker features, like the William Hill Bet Builder for horse racing.

Another bookmaker recommendation for you!

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Steamers, drifters and when you should pay attention to them!

In this article, I’ll explain what market movers are, and discuss the two different types: steamers and drifters. I’ll also go through why, and when, you should pay attention to them. Keep reading to understand this terminology better, and learn how to act on it.

Steamers - Horses whose prices are shortening significantly

The first type of market movement we’ll look at is ‘steamers’. You may also hear these horses referred to in other ways, including the “money horse”, or the “gamble” in the race.

These descriptions apply to horses where the odds are shortening significantly in the market. What this effectively means is that those horses are being well-backed by the betting public. In theory, the more confidence there is behind a horse, the more money that comes for it, and the more its price shortens.

Other factors can influence the price too. For example, a syndicate horse is usually well-backed because all of its owners tend to have a bet. This is particularly relevant where horses are running for micro-share outfits, as there can be thousands of owners for a single horse. Even if all of the bets are small, it can still have an impact on the betting market.

Drifters - Horses whose prices are lengthening significantly

The second type of market movement is the complete opposite, and these horses are called ‘drifters’. You may also see them described as “cold”, or “friendless” in the market.

Horses where the odds are lengthening significantly are described by this terminology. In complete contrast to steamers, these horses are not being supported by the betting public, and as a result, the bookmakers increase their odds in the hope that people will back them.

Again, other influences can impact this. An example would be where the owner, or owners, of a horse have no interest in betting on it, and no money coming in for it from them. There’s also a situation where another horse is being heavily backed, which tends to result in the bookmakers lengthening the odds for other horses in order to shorten the odds for that one.

There are key times to pay attention to messages from the market

The times when you see money coming in for a horse, or failing to come in, are just as important as the market movement itself. I would personally pay more attention to late money than early money, but they can both reveal more of the picture.

Early moves when the markets open can suggest that a horse was priced up incorrectly in the first place. This can be a helpful guide as to the expectations for a horse’s chance. However, there is very little liquidity in the markets when they open the night before racing, and you’ll often see substantial price movement with very little money being staked, especially for the horses at bigger prices.

Late market moves, when there is more liquidity in the market, are more eye-catching, as it takes more money to impact the market. The closer you get to a race, the more money there is being gambled on it. For that reason, bookmakers tend to pay less attention to it. For context, a £50 each way bet when the market opens will have a much greater effect than £50 each way just before the off. If there is a significant market move close to race time, it’s more likely to be significant money driving it.

Are you getting value for your money?

Another thing to consider is value, and it’s one that many punters completely disregard. For me, finding value bets is a big part of the way I operate, and I consider it a major factor in terms of long-term betting success.

To put that into context, let me give you an example of what I mean. If a horse has been backed from 10/1 down to 5/1, have you already missed the boat? Well, if 5/1 is a fair price for the horse, then those who got on at 10/1 have value, but at 5/1 the value has gone. The ideal is always to back horses at bigger prices than they should be, based on their chance in the race.

The easiest way to measure this is whether the prices you get are consistently better than the SP, which is often viewed as the true price. The aim is always to back horses at a bigger price than they are when the race goes off. The market is only a guide, and it’s not always correct. Sometimes, backing a horse after it has already shortened can be a bad bet, and backing a horse after it’s drifted can be a good bet.

How much attention should you pay to market sentiment?

As with anything in life, moderation is the key. The market is not right every time, and there will be well-backed horses who get beaten, and big drifters that go on to win. At the end of the day, I wouldn’t simply follow the market blindly.

In general, I pay more attention to late market moves than early ones, as it takes more money to have a meaningful impact on the odds. Also, with the way the industry is nowadays, it can be hard for many to get sizable bets on, unless it’s near to the off, when there is more liquidity in the market.

Finally, seeking value bets is a crucial part of successful betting. Learning how to spot it, and when to take advantage, is a vital skill to have.

Choose your next free bet deal!

Below you will find a list of our recommended bookmaker partners and the free bet offers for horse racing they currently have available. As you can see, if you sign up and bet a modest amount, you can be rewarded with free bets and bonuses. I strongly recommend you check them out!

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