As the name suggests, horse race betting or horse racing betting is betting on the outcome of horse racing. It is a popular betting event, with even the British Royal Family showing up on certain race days.
How does Horse Racing Betting Work?
If you follow horse races, betting on the outcome is as easy as guessing which horse and jockey paring you think will win and then bet on that. You can make single bets or you can go for the more complex bets and make accy bets, full cover bets, and others.
Can You Make Money from Horse Racing Betting?
Yes. If you get a qualifying bet, if the horse you chose is the winner of the race, or if you have a successful forecast bet, etc., you are going to make money. You’ll get the money you bet back plus your winnings. How much you will win depends on what the odds were when you placed the bet or bets.
What’s more, any earnings you make while gambling, are tax-free in the United Kingdom.
Where Can You Place a Horse Racing Bet?
Be sure to check the racing odds before betting. The odds will give you an idea of how much money you can potentially make from any qualifying bet settlement you may get.
You can also choose to bet on the ante-post markets and not just the main horse racing markets.
Horse Racing Bet Types
Betting on the races is also interesting because of the many different bet types available to punters. You will have a huge range of betting options at your fingertips.
The horse racing betting markets allow punters to make single bets such as win bets, each way bets, or place bets. But more than that, it makes space for the more complex settings like spread bets, Yankee bets, full cover bets, accumulator bets, and more.
These bets are popular because they have lower stakes and often a lower starting price than single bets like each way betting. And punters have bigger chances of winning even if only a fraction of their selected games come through for them.
How to Bet on Horses
The first thing you need to do is find a horse race that you want to bet on. You can find horse races at your local racetrack or online. Once you have found a race, you need to decide how much you want to bet. You can bet on horse races using cash, credit cards, or checks.
The next thing you need to do is choose the type of bet you want to make. There are many different types of bets you can make on horse races. The most common type of bet is a win bet. This is when you bet that the horse you choose will finish first. You can also bet on a horse to finish in the top three, or to simply finish in the money.
Once you have chosen the type of bet you want to make, you need to choose the horse you want to bet on. You can do this by looking at the horse’s racing record, or by talking to other people who are familiar with horse racing.
After you have chosen the horse you want to bet on, you need to place your bet. This can be done online or at the racetrack. Once your bet is placed, all you have to do is wait for the race to start. If your horse wins, you will receive your winnings. If your horse does not win, you will lose your bet.
Is Horse Racing Betting Legal?
Yes, it is. Betting or gambling in Great Britain and the UK is perfectly legal and it is regulated by the UK Gambling Commission. Caveats do apply, for example, underage gambling is not allowed.
It is also the punter’s responsibility to make sure that they are betting on a betting site that is registered. This will be found on the website or a betting shop might display that they are registered with the UK Gambling Commission under account number so and so.
Horse Racing Betting Tips
- Check the horse racing odds before you place a bet. That way you have an idea of what your returns could be. This goes for ante-post odds too.
- Use up those free bets. They are given to you so use them up. It is not illegal to place a bet using free bets. Bookmakers like William Hill have said they have no issues with punters using free bets and winning with them.
- Switch it up! Don't be afraid to diverge from your usual. Try and select new horses from time to time. Betting on the Mr. Cheeky Jackson Searle combo may be a tradition for you, but shake it up from time to time, you never know what could happen. There are many other horses out there.