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Horse Racing Bet Types

Horse racing makes up a fair portion of betting action from bookmaker to bookmaker, which is also why there are so many different horse racing bet types to take advantage of both online and on the high street.

This is a massively popular sport which remains wide open for bets of all natures – true fans and betters take notice of form from horse to horse and from course to course. Betters could choose to punt on the big horse races and championships, or might prefer to simply take a look at race meetings on any given day.

Either way, there are plenty of ways for betters to take serious advantage of some big odds and some varied markets. This is our brief guide to what to expect from betting types if you’re new to the sport, or if you’d simply like to start diversifying your experience.

If you are new to this sport, it is recommended to look up horse-racing tipsters to see what they predict before you place a bet.

Each Way Bet Horses

The popular each way bet horses’ races revolves around offers you the opportunity to split your bet if you think your pick has the chance to get into the top four in a race.

  • While you can still place bets on your horse to win a race, an each way bet allows you to win even if they finish in second, third or fourth.
  • This means, however, that you will need to split your bet – as you will only receive half odds if your horse finishes in second, third or fourth place.
  • It’s a good option to take in big races such as the Grand National, where there are so many different runners going at any one time. In smaller races, however, it may be worth focusing on the outright or straight markets instead.
  • Evaluate whether or not it is worth opting for the each way market from race to race – don’t just leap into things without considering them closely!

Horse Racing Tote

Tote bets work a little bit differently to normal odds offered by bookmakers, such as William Hill Sports, which may appeal to regular punters as a new and interesting way to win big. Therefore, it’s worth taking a look at what a tote pot has to offer.

  • Tote betting is a betting type which works somewhat like a jackpot. Essentially, you are placing bets on an event by adding money to a pool, or prize amount.
  • Once all bets are placed, odds are divided up to create dividends – which is the amount expected for each winning slip to receive.
  • One thing to remember about tote betting is that, unlike straightforward markets, you will receive your initial stake as part of your return amount – not as an extra sum on top.
  • Therefore, while tote betting can be an interesting market to look at for bigger races and events, it might not drive home the returns you are looking for from occasional race meetings.

Plenty of different rules which go into tote betting which are worth looking into. Tote pools are live and are therefore fairly intense at times. If you’re interested in diversifying the way you place bets on horseraces, why not consider tote pool betting for bigger meetings and championships such as the Derby, races at Haydock Park or the Grand National?

Horse Racing Straight Bet

The horse racing straight bet is, as its name suggests, very straightforward. It’s one of the most popular horse racing bet types around, meaning that you may commonly be presented with this market as a default option.

While many betters choose to punt a little differently or wildly against the norm sometimes, straight betting is always a safe one to fall back on if the odds are good. There are a number of different straight bet types you can take advantage of:

  • The win bet – this is where you’re essentially betting on which horse you predict will win a given race.
  • The place bet – bet on whether or not your horse will finish in first or second. Do be aware that payouts here are considerably lower than what you may find in an outright win.
  • The show bet – place bets on whether or not you think the horse will place in second or third.
  • The across the board wager – across the board in this sense essentially means that you collect on all three of the above. If your horse wins a race, you collect on all three markets – the place and show only if it finishes second – and only the show if it finishes third.

While this may seem a little complex or involved, it is one of the most straightforward systems available – it may just take a little time to get used to!

Horse Racing Tricast

Tricast bets are particularly interesting as they require a considerable amount of confidence. If you win, however, you stand to clean up with a huge return. Tricast betting requires that you pick which three horses you think will finish in first, second and third – and in which order.

If you’re brave enough to try these horse racing bet types, you may also need to be ready to stump up a fair amount of money to gain access to certain odds.

However, as mentioned, the returns are very nice indeed – so if you know more than a thing or two about racing form and are feeling particularly lucky, the tricast may well be what you wish to go for.

Horse Racing Each Way

In some races, people will use horse racing each way bets to cover more bases and get a better chance of winning a profit. The way this works is if your horse wins the race, you’ll receive the winnings for the ‘win’ and ‘place’ portions of your bet.

But if your choice comes in 2nd you will be paid either a quarter or a fifth of the odds for your stake. This can also apply if your pick comes in 3rd or 4th depending on the individual terms for each race and bet.

What is a Lucky 15?

A Lucky 15 is a type of wager which consists of 15 individual bets. This includes 4 singles, 6 doubles, 4 trebles and also a four-fold accumulator. The payout and winnings vary depending on how many of the bets you win.

If you win more than one of the grouped bets, you’ll get the winnings for each individual one as well as getting a winning on the multiple bets together. These can give a potentially high profit but they are obviously quite difficult to win due to all the possible outcomes.

What is a Yankee Bet?

A Yankee bet is a wager with 4 sections which includes 6 doubles, 4 trebles and a fourfold accumulator. The winnings for this kind of selection will always vary depending on the outcomes, odds and the amount you choose to stake. It can also offer a big profit if you’re successful but again it’s difficult to win all parts of the bet as there are so many variables.

What is a Patent Bet?

A Patent bet is a wager with 3 different selections and 7 total bets. These consist of 3 singles, 3 doubles and one treble. Again the total winnings will depend entirely on the outcomes of the different bets and the amount you have decided the stake on each one.

What is a Placepot?

A Placepot is a type of bet which requires you to choose a placed horse within the first 6 races at one meeting. All of your selections must be from the same meeting and in 6 consecutive races.

The positions can vary throughout the different races, but generally you’re looking to place a horse in first, second or third place. Due to it being a pool bet, all of the wagered money is put into a single betting pool and then all of the winners will take an equal share of that amount.

What is a Forecast?

A Forecast bet enables you to choose two selections for a race, and these two horses need to finish first and second for you to win. You can often get good odds for this from the different bookies as it’s obviously more difficult to win than just betting on the first place one.

This is one of the popular bet types which many players like to choose as it still offers good profits and isn’t as tricky as some of the other options.

What is a Tricast?

A Tricast is a very popular type of bet in horse races which many people choose to go for. You will choose three selections which you think will finish first, second and third in that particular race.

You need to get all three correct in order to win your bet and take home the profits. Lots of players will put on these types of bets as they can be very exciting as it comes down to the very last moment to see which horses will come in the top three places.

Forecast Bet Horse Racing

Finally, the forecast bet is a popular punt that new and seasoned betters alike go for. You will basically be required to pick out two horses you think will come first and second and in an exact order.

It is, essentially, a tricast without third place being taken into account. Therefore, it may be a step up to the big tricast wins without the hefty risks – so if you are interested in making things particularly interesting, it could be time to focus on forecast first before you work your way up to anything particularly interesting or different.

There are plenty more different options, some fans even choose a Lucky 15 bet which covers a range of outcomes. It all depends on how you want to place your bet as there are so many ways of betting on sports.

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