For those new to punting on horse races the huge variety of markets on offer can sometimes be intimidating and off-putting, so here we will break down the various options available so you can get a better understanding when selecting a bet on a horserace. Before you select a bet, make sure you have a really good look around at various bookmakers; here at Horseraces.com.au we recommend SportsBet, as they always offer the most rewarding odds for every horse race in Australia.
Standard Bets
Standard bets are the options novice punters should first take and are favoured by many due to their simplicity and ease in which one can select the winner. Below are the slight variations in standard betting options which are usually available on all races.
Win: As you would expect – the horse which the punter believes will win the race. With SportsBet one can back as many starters with a win bet as they like in a single race.
Place: A bet which backs a horse to finish in the top three of the overall results; it does not affect the outcome whether your selection finished first, second or third – and is one of the more popular punts among bettors.
Each Way: Also referred to as Win/Place and is a combination of the previous two markets. If you select a starter and it finishes in first place you will receive both a Win and a Place reward, however if it finishes either second or third you just receive the place payout.
Racing Exotic Bets
Exotic markets are recommended for the experienced punter unless a novice has a strong gut feeling for an outcome! Usually offering more lucrative odds, exotic markets are tougher to select but can certainly be worthwhile.
Standard Quinella: A standard quinella is when a punter selects two starters to finish first and second, although the specific order does not matter.
Standout Quinella: A punter selects as many contenders for the race as they would like although must nominate a specific runner they think will finish first or second into the relevant slot, and one of the other selections must finish either first or second to the first nominated selection.
Box Quinella: More than two selections must be made with the maximum being the number of runners in the race, however two of the selections must finish first and second for the bet to be successful with the more runners ‘Boxed’ in the quinella providing the bigger payouts.
Exactas: A punter selects the first and second placed horses in the right order. There are also standout exactas and box exactas available through SportsBet if this is the market for you.
Trifectas: When a wagerer correctly selects the first three finishers in the correct order, and once again, standout trifectas and box trifectas are available when punting with SportsBet.
First Four: A bettor must select the first four finishers in the correct order for the punt to be paid, and can also come in standout first four and box first four with SportsBet.
Roving Banker: When a horse is nominated as the ‘roving banker’ while other runners must be selected to fill the remaining finishing spots. The nominated roving banker must place in the race with at least one other selected horse finishing in its desired position.
Racing Multiples
Racing multiples can offer very handsome odds as the work involved in selecting the right outcome can be tough – and a wide knowledge of horse racing is certainly a desired attribution.
Doubles: The punter must select the winner of two consecutive or selected races to win – called either Running Double or Daily Double at SportsBet.
Trebles: Similar to the above, except it is offered on three consecutive treble races.
Quaddies: Often with huge dividends to the willing wagerer, the quaddie is available to a punter to select the winner of four consecutive quaddie races.
So when it comes to horserace betting the options and combinations are endless. Often a horse is so obviously the favourite for an event, the odds on offer hardly seem worth backing which is when the more exotic markets become more favourable – so always keep an eye on the general odd fluctuations. While an outsider may be less likely to win, the odd dollar down on an underdog, say in a place bet, can often be incredibly lucrative – and there is no better feeling than bagging a handsome payout from the races!
