There is a myriad of different betting types available and each bookmaker is free to make up their own betting type and promote them. Below, you will therefore only find a few examples of popular betting types that are offered for horse races by most bookmakers. Always check the terms and conditions of the specific bookmaker you plan on wagering at.
Betting to win
This is a straight bet at fixed odds where you only get paid if the horse you selected wins the race. If the horse comes in as #2 or worse, you lose your wager.
Betting each way
When you make this wager, you are actually making two bets:
- One bet for your selected horse to win
- One bet for your selected horse to be placed
If your horse wins, you get paid on both bets. If your horse doesn’t win but get placed, you lose the win-bet but get paid on the place-bet. If your horse doesn’t even get placed, you lose both bets.
What constitutes as “being placed” varies from one race to another. It is very common to consider third place or better as being placed, but there are races that deviate from this norm so this is something that you need to check before you make your wager. As a rule of thumb, a race for 5-7 horses will only consider a horse as placed if it finishes in second place or better.
A few bookmakers online (one of them is Betfair) offers pure place bets. This way, you don’t have to make an each way bet if you think that a horse will place. A place bet is a single bet; it is not a bet that is actually two bets.
This is when you bet on which horse will finish first and which horse that will finish second in race.
The two horses need to finish exactly like your predicted for you to win anything. If the order is switch around, you lose your entire wager. If only one of the two predictions come true, you also lose your entire wager.
This is when you bet on which horse that will finish first, which horse that will finish second and which horse that will finish third in a race.
Example: You think that Black Beauty will be #1, White Wizard will be #2 and Grey Gremlin will be #3 and you wager on this. You only get paid if this is exactly what happens. If for instance Black Beauty takes spot #1, Grey Gremlin spot #2 and White Wizard #3, you lose your entire wager.
When you win on a tricast you typically get paid very handsomely, but the risks associated with this type of wager are high.
In horse racing, accumulator bets are bets where you bet on a winner (or placer) for more than one race. The more races you include in your accumulator bet, the more difficult – statistically speaking – it will be for you to win. For more information, go to our page about accumulator bets.