How To Bet On Horse Racing - Guide to Bets, Odds and Betting Markets

Types of Horse Racing

There are several types of horse racing, for instance, jump and saddle trot racing. These types determine the race format and the kind of breeds that participate. However, we will only focus on the following four main types:

Flat Racing

Flat Racing is where horses gallop from start to finish on a straight or oval racetrack. These races are direct with no obstacles, making it one of the most common types of horse racing. The surfaces used often vary from turf to dirt, depending on the region. Individual flat horse races are run from 400 m to over 6.4 km. One of the most prestigious events of this type is:

• The Kentucky Derby

Steeplechasing

Also known as jump racing, Steeplechasing is a type of horse racing where horses run a distance filled with obstacles. The runners or horses must complete one or multiple laps regardless of the obstacles, ditch or fences.

Usually, horses proceed to more significant and longer obstacles as they age. Steeplechasing is commonly known as National Hunt racing in the UK and Ireland. The best example of a Steeplechasing meet is:

• The Cheltenham Festival

Harness Racing

Harness Racing is where a horse paces or trots around a track with a driver on a two-wheeled cart. Trotters move their legs diagonally and together, whereas paces move legs in tandem on each side of their body. In this type of horse racing, Standardbreds are often used. One of the prominent Harness horse races is:

• Prix d'Amérique

Endurance Racing

Unlike other horse races, Endurance Racing is where horses travel long distances ranging from 40 km to 161 Km. Anything under 40 Km is categorised as a limited-distance ride or LD. This type of race takes multiple days and uses trails of natural terrain. In most cases, Arabian horses dominate Endurance Racing. The most famous event under this category is:

• The Tevis Cup

Classes of Horse Races

With horse racing evolving, the sport has morphed into many categories and classes. The classification system determines the level of competition. You get higher prizes and better-performing horses as you move up the class. So far, there are four main race classes: Maiden Races, Claiming Races, Allowance Races, and Stakes Races.

Maiden are races for horses that have never won a race. These are divided into the maiden special race and the maiden claiming race. Claiming races are for horses that can be purchased or claimed after the race, while allowance races involve horses that carry different weights based on set conditions. Lastly, Stakes races are grouped into Grades 1, 2, and 3, and owners must pay a starting or nomination fee.

Outright Betting - Winner

Outright betting allows you to predict the horse that will win the entire tournament. Being a futures bet, Outright often bears high odds, especially if you make your prediction before the competition starts.

Place Betting

The place bet is an ideal market if you know a horse will perform to its maximum potential but you are unsure whether it will win the race. You can bet on a horse to finish in any of the top three positions using the market. Your bet will pan out if the horse places in position 1, 2, or 3.

Exacta

Exacta is a slightly advanced bet where you gamble on two horses to place first and second in the correct order. You lose if the horses finish in the top two positions but not in your stated order:

Trifecta

The Trifecta is an incredible horse racing market that requires you to bet on three places. Here, predicting the horses' finishing in the first, second, and third positions would be best.

Special Bets

Like other sports, horse racing also has wagers that aren't within the main categories. These markets are called props, proposition bets, or special bets, with the main options being:

• Jockey to have the most race wins during the Dubai World Cup
• The number of Mint Juleps that will be served during the Kentucky Derby
• The fastest winning time

Research the Horses

Whether you are betting on four horses or one, it is imperative to research the horses. Check the condition of the horse, its pedigree, the trainer, and the jockey. Once done, review the horse's past statistics and check its performance in different races, especially the previous five races.

If you are betting on multiple horses, do the same for each horse. This will help enlighten you on the form of the horse and how it is likely to perform in the event. At Oddspedia, we offer statistics on each horse participating in a meeting, aiding the research process.

Odds Comparison - Get The Best Betting Odds For Your Horse

Getting the best horse racing betting odds is paramount, leading to better payouts. With Oddspedia as your betting companion, you get an odds comparison tool to collate the odds for different markets from the top bookmakers.

Your only task is to go through the UK odds and pick the best. Expect odds for any bet type, including Each Way bet and win bets. You will also find odds for the Exacta and Trifecta markets.

Understand Race Types

Understanding the race types is critical, as this sheds light on the race format and the breeds that will participate. There are four main types of races: Endurance, Harness, Steeplechasing, and Flat Racing.

With each, you get insights on the racetrack, obstacles, surfaces used, distance, and harness racing. Besides, you need to check the kind of horses that participate in these races. This information will come in handy when researching the horses and their jockeys.

Know the Classes

Like the race types, some classes determine the competition's level. These range from races for newcomers to match-ups for seasoned champions. There are four main classes: Maiden, Claiming, Allowance, and Stakes.

With these, you get horses that have never won a race to top performers, among other criteria. Knowing which class you are betting on is critical as it informs you of the risk factor and provides insights into how all the horses perform.

Follow Horse Racing Tipsters And Their Expert Predictions

The best way to increase your chances of placing winning bets is by checking predictions by horse racing tipsters. Using their tips, you can place single and accumulator bets.

At Oddspedia, we have dedicated tipsters who use special betting systems to come up with likely predictions. You can confirm the success rate of tipsters by checking their performance in previous races. Feel free to sign up on our betting community and track the dynamics of our tipsters' predictions. Here, you will also find a forum discussing different horse racing tips and events to take advantage of.

Take The Small Wins And Profits - Start Small

Not every winning bet has to generate huge profits. We highly advocate that you enjoy the small wins and gains, the keyword being to start small. Even though huge wins are attractive, they can be hard to come by and will often see you chase your losses. However, using our tips, you can generate a series of small wins that can accumulate over time to a massive success without risking too much of your bankroll.

Select the Best Horse Racing Bookmakers

Picking the ideal horse racing bookmaker is vital to enjoying better odds and horse racing bonuses. We have a long list of notable betting sites that you can use to bet on horse racing events. Our recommendations cover all the top competitions, including the Ascot Gold Cup. You also get multiple betting markets, high odds, and the option to watch horse racing live. Please go through our honest reviews and make a pick based on your findings.

Make use of Bonuses and Promotions?

We highly recommend using bonuses and promotions whenever you want to bet on racing meetings. Horse racing betting bonuses provide an inexpensive way to place bets at various bookies. We have a tailored list of bookmakers with the best bonuses. Click on the link to access the best betting sites for horse racing and activate the available offers by meeting the minimum requirements.

Not Familiar with Betting on Horse Racing

Most novice punters plunge into horse race betting without familiarising themselves with the horse racing jargon, bet types, competitions, and more. This often leads to unwarranted losses in the long run. To avoid such a scenario, take your time to study and understand horse racing betting.

Learn the markets, horse racing betting odds, and the events. You also need to know the different classes of horse races and their terminologies. This will help you quickly interpret the bet types and place bets.

Not Researching Form or The Going

One of the most prominent mistakes players make is not researching the form of the horses or the racecourses. This may see you lose multiple bets that would have panned out otherwise. Take your time to explore the form of the horses.

Research each horse if you're placing Each Way, Exacta, or Trifecta bets. Also, confirm the going of the racecourse, whether it's soft or firm. Feel free to use Oddspedia for your research. We have statistics of multiple horses participating in different races.

Mismanaging Your Bankroll

Bankroll mismanagement is a common mistake seasoned and novice players make. Before you begin to bet online, establish a bankroll management strategy. For instance, devise a budget by setting aside a daily/weekly/monthly limit you're willing to spend at the bookie. You can also use bet and deposit limits to cap your expenditures. Some bookies also allow you to set loss limits.

Betting On Your Favourite Horse/Jockey or Trainer

Horse racing fans always make the mistake of backing their favourite horses. Though noble, this may cost you your bankroll. Only bet on your favourite horse, jockey, or trainer if concrete facts back the decision.