There are so many different types of bets in horse racing and knowing exactly how they work is crucial if you wish to create a solid betting strategy. Not that you need to know everything about every single type of bet in horse racing, but an overview of the basics can still improve your probability of winning.
However, it is far more important to know all that there is to know about the specific types of bets which you are about to stake your hard-earned money on. Keeping things simple, here are some of the most common bet types we see in horse racing.
Straight Win Bets
You can only win the staked amountif your selection(s) wins (1st) the race(s).
In an each-way or placement bet,you will be placing two bets of equal stake on the same horse and in the same race:
- 1stBet (straight win): You can only win if your horse comes 1st and wins the race.
- 2ndBet: You will win as long as your chosen horse is ranked, even if you lost the 1ststraight win bet.
Remember that whenyou win the 1st bet, you will win the 2nd bet by default and be paid as such (1st bet winnings + 2nd bet wings + total amount staked). Not all bookmakers allow each-way bets on major races though, because it significantly increases your probability of profiting from each bet.Thankfully, the 888 Cheltenham offers for 2022 include special, each-way betting provisionswith the best possible odds on placement bets.
Money is staked on a single selection in one specific race. The horse must either win or rank (each-way)for you to be eligible for a payout.
Two single bets are to be placed on two different horses running in twoseparate races.However, you will only be eligible for a payout when you win both singles.
You will have place three single bets on three different horses running in threedistinct races. Just like with the double bet, you will also need to win all three of your singles to win the treble.
At least four single bets on four separate selections running in four different races must be placed. All your selections will have to win/rank (each-way) to win an accumulator bet, but unlike the double and the treble bet, four is just the lower limit here with no defined upper limits. For example, an accumulator containing eightsingle bets will simply be referred to as an 8x accumulator.
You must place three double bets and one treble bet on three horses, but you will only need two of your horses to win for earning a payout. The trixie is oftenthe minimum standard for experienced gamblers to build their betting strategies around.It’s both simpler andrequires a comparatively low investment to do so.
Seven bets must be placed on three horses in total for the bet to qualify as a patent. You will be eligible for a payout, as long as just one out of the threeselections win/rank (each-way). The seven bets consist of three singles, three doubles, and one treble.
11 bets are placed on four horses in a Yankee, which consists of six double bets, four treble bets, and one (4x) accumulator bet. At least two of your horses must win/rank (each-way) for your stake to qualify as a winning Yankee bet.
Consisting of four singles, six doubles, four trebles, and one (4x) accumulator, you will choose four horses for placing a Lucky 15 bet. As long as just one of your fiveselections win, you will earn a payout.
Known as a Canadian these days, the Super Yankee is a long stake for veteran gamblers. You will be placing 10 double bets, 10 treble bets, five (4x) accumulator bets, and one (5x) accumulator bet on five champion horses. To be eligible for a payout from the massive 26-bet Canadian stake, at least twoof your horses will have to win/rank (each-way).
There are resources online that will provide you with betting strategy templates to work with, but they are only guidelines for beginners. You should be able to build your own betting strategy for any upcoming horse racing event, simply througha deep understanding of the different types of horse racing bets and yourbookmakers’ odds.