Types Of Horse Racing Bets: A Comprehensive Guide

Horse racing has a long and rich history going back to Roman times and is one of the most ancient of sports.

Roll forward thousands of years and the horse racing industry in the UK is worth over £4 billion a year.  Such is the historic rise in the popularity of horse racing, it is the second most popular sport in the UK, only playing second fiddle to football.

As with any sports, money follows and the meteoric rise in horse racing is largely down to the betting markets.

Betting on the races can add a lot of excitement and now punters have a silly amount of the types of bets that are available to them.  There are so many variations that both novice and experienced bettors are catered for. In order to maximise the potential available, it’s important that bettors understand the types of horse bets they are placing.

During this article, you will learn about the different types of horse racing bets available, how they work and how to place them.

Learn about which bets suit which bet strategies and level of experience.  Even if you are just somebody who places bets for a bit of fun, knowing how each bet works can enhance your chances of success.

Single Bets

The Single bet is the easiest and most basic of horse racing bets.  You are just placing one bet on one horse.  There are two types of Single bets that can be placed:

Win Bet

This is just a bet where you are backing a horse to win a race.

Placing a Single Bet

As mentioned, placing Single bets is very straight forward. Click on the horse you want to bet on and a bet slip will open up.  Just then enter your chosen stake and click on ‘Place Bet’ and you’re done.

It’s funny we should mention ‘Place Bet’!!

Place Bets

This is horse racing so of course there can’t be just one Single type of bet.  Another Single bet option available is to bet on the place market.  This means you can bet on a horse to finish in one of the top places.  How many place positions are available will depend on the number of competitors and the bookies.  

Placing a Place Bet

In this real-life example, Bet365 are offering a 6 place market. You can see that the odds on the place market are considerably less than the win only odds.  This is because you are giving yourself a safety net that the horse will finish first, second or third.  The more places you opt for, the lower your odds will be.

Advantages of Single Bets: Simple to place and a higher chance of success than multiple bets

Disadvantages of Single Bets: Usually lower odds and returns than multiple bets and they don’t offer any safety net.

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Double Bets

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Treble Bets

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Each Way Bets

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Accumulator Bets

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Cover Bets

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Multiple Bets

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Forecast Bets

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Tricast Bets

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Trixie Bets

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Patent Bets

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Round Robin BetS

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Yankee Bets

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Lucky 15 Bets

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Canadian Bets (Super Yankee)

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Lucky 31 Bets

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Heinz Bets

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Lucky 63 Bets

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Super Heinz Bets

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Goliath Bets

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Exotic Bets

Summary

That’s a wrap!  You now have the details needed to fully equip your betting strategy armoury.

Obviously, this is a lot of information and a large amount of bets.  This selection of types of horse racing bets covers all the options needed whether you’re a novice or an experienced bettor.

Each type of bet has its advantages and disadvantages and there’s never been as many options as there are today.  All of which have huge profit potential. 

The secret is to identify which types of bets suit the events you’re looking at and which suit your strategy and bankroll.