Tips for choosing bet types

Betting on the nags is a right of every Australian who has celebrated their 18th birthday, but putting your pay packet down without taking in the pros and cons of the type of bet you are placing is fraught with danger.

There are so many factors you must take into consideration when betting on the horses: Who is the jockey? What distance is the race? What is the weather like? The track rating? The list goes on and on.

Horsebetting.com.au likes nothing more than helping our readers back a winner and we hope this advice on when to use certain bet types comes in handy.

When to back a horse to Win

The bet that’s as old as time. Which horse is going to win the race? All that has to happen here is the horse you select finishes first past the post and you win. Seems simple, right? Wrong. Laying the bet is the easy bit. Getting your horse home is the hard part. Whether it’s an odds on favourite or a $50 long shot, the fact is, these are beasts with minds — albeit small — of their own, and there are so many factors that can make that sure thing turn to disaster within a few hundred metres.

It’s a good idea to check the horse’s form before placing your bet. Find out who the jockey is. Look at the other horses in the race and know what you’re up against. What class has the horse been racing in? Is it stepping up? Coming off a spell? How does it perform at the track? What is it’s breeding? There are so many factors that come into it. Of course, there are those punters who look at the name and go, ‘yep, I like that one’ and just slap down their bet. We’d like to think that the punters who research hardest are the best placed, but often the mug punter can be just as successful in this fashion.

It is a game of chance, in the end, and every horse in the field, whether it’s regally bred or picked up out of a paddock, has a chance to finish first past the post. The good thing about win bets online is that the bookies will often look after you with promotions including betting bonuses and protest pay outs. In some selected feature races, you’ll find that the bookie will offer win pay outs or money back on any horse that finishes second or third in the race. Perhaps the odds on favourite will be part of a bonus — if it wins, every other horse gets money back. In the event of a protest, some bookies will pay out on both winners, while a dead heat will see your dividend halved.

Sometimes a Place bet is the best option

Spread the love! If you don’t think your horse is a surefire winner, but you know it’s going to run well, then the place bet is for you. This gives you three chances to win. Your horse does not need to cross the finish line first in order for your to win. It must finish in the top three, first, second or third. The odds are dramatically reduced on this bet and therefore, so is the dividend for punters.

Even if the horse wins, if you’ve selected place bet, you get the return for a place, not for a win. but hey, if your horse scrapes home in third, you’re still laughing all the way to the bank. One thing to factor in here is the number of horses running in the race. if the field consists of seven horses or fewer, then the place payout is reduced by one. Your horse must finish in the top two for your bet to succeed. Third won’t cut it.

Win and Place bets can provide value

Pretty certain your horse is going to win, but want to hedge any way? Have a little each way on it. This is both a win and a place bet, so you get the benefit of both sets of odds and you basically use the place bet as a little insurance policy. if you have $10 each way on your horse, it will cost you $20 – $10 for the win bet and $10 for the place bet.

Of course, if the horse wins, you get returns for both bets, but, in the event that it comes second or third, then you’ll just receive the return on your place bet. In the event it does not come in the top three, then, of course, your bet is shot. You can vary the amount you have each way. Maybe your place bet is odds on, but you want to make sure you make your money back if the thing does not win. You could have $10 the win and $20 the place.

How to lay a Quinella bet on a horse race

Pick the top two. Quinella bets are good fun, but much harder to pick than simple win or place bets. You have to grab the top two finishers, in any order, past the post. So the horse that comes first and second in the race. All the money bet on a quinella goes into a pool of funds and the dividend for the return is calculated using a complex mathematical equation.

Obviously, the longer odds on the horse winning, the fewer people will pick them in the quinella and that will enhance the odds on return. Quinella bets obviously have to feature at least two horses, but you’re not limited to that. You can have more runners and, in turn, that will increase the cost of your bet. This is a boxed quinella. Say you have three runners in your boxed quinella, if any two of those runners come first and second, you win.

Difference between Exactas and Quinellas

Similar to quinella bets, your exacta bet must make it home first and second in the race. But the catch is they must make it home in order. Again, this enhances the odds, but also makes it much harder to pick. So if horse A is selected to win, and horse B to come second, then that is the order they must finish in for you to win. You might think a horse is a sure thing, so have it to come home first straight out, and then select as many runners as you want to come second – obviously this costs more, but enhances your chances of winning. Similarly, there might be two favourites in the race and you can’t split them. Have them both to come first and then pick your second place getters and it’s happy punting.

Advice on when to place a Trifecta

Here’s where it gets really interesting. Think it’s hard to pick the top two in your race? How about the top three? Ridiculous, right? Wrong. Great fun. Here you have to select the first three runners past the post to win your bet. Trifecta’s cost more to put on, but offer the chance to win big. To box the trifecta, all you have to do is select three or more horses and if any of them come first, second and third, you win. You can make life even harder for yourself, though, by picking the top three in order.

This obviously reduces your chances of winning, but also reduces your stake. Similar to the quinnella, you can bank on one horse winning and then select a group of horses to come second and third. And hey, if you can’t decide on those final two spots, just select ‘field’ to have every horse in the race. There are ways to reduce your stake, but having a percentage of the return, rather than a full bet. Often, your bookie will even allow you to type in the exact stake you want to have. So a three horse boxed trifecta will cost you $6. But you might only want to spend $3. So you can still have the bet, but, since your stake is halved, the return will also be halved – 50 per cent of the dividend.

A winning First Four bet can change your life

Looking to change your life. If you can somehow pick the first four in a big race and a couple of those runners are paying huge odds, this is your chance to win big. You obviously have to be accurate in selecting the first four runners past the post – first, second, third and fourth – and the chances of doing this are very low, but you can win big. Very big. Just ask the lucky punters who picked the first four in the 2013 Melbourne Cup – that bet paid $118,000 to the dollar.

Similar to trifecta and quinella bets, there are several different ways you can do this. You can box the first four, with four or more selections, meaning that it doesn’t matter what order your selected horses come in, just that they finish one to four in the race. You can go with the aforementioned banker and select one horse to win straight out and then have multiple selections to come second, third and fourth. You can also have the field in this bet. The cost is obviously going to be high, but the returns are also high and, similar to your trifecta, you can have a percentage to reduce your stake – and of course, reduce your return. We’ve probably been remiss to mention this during our quinella and trifecta reviews, but you can also have a mystery or easy bet, whereby the computer generates random selections for you, taking the guess work out of it completely.

Double and Running Double bets

Think you can pick the winner of a race? How about two in a row? Yep, that’s what you must do to get your double or running double bets home. The bookie will decide which races this bet comes in, or you can simply select two races and have a multi with your selections in it. Of course, the second option won’t allow you to have multiple selections. On double bets, you can pick more than one horse for each leg.

Maybe you’re certain on one leg, but are tossing up on the second. You can have two or more selections, to cover your bases. That will cost you more, but does increase your chances of winning. There are concession pay outs available here, which allows for second placing on the second leg. Say your first leg wins and your selection comes second on the second leg, you’ll still win, but your dividend will be reduced.

What is a treble bet?

Instead of double trouble, it’s triple threat. You have to pick the winner of three straight races here in order for your bet to win. You can have as many selections as you want, but be wary – this will cost you more – a lot more. It does give you a greater chance to win and the pay outs can be very rewarding. There is also the added calming factor of the concession if your first two legs get home, and the third comes second.

Quadrella or Quaddie bets on horse racing

The mother load. Quaddies are among the most popular bets for mates hoping to strike it rich. You need to pick the winners of four straight races – sounds impossible, right. It just about is, but some one always strikes it lucky. With pools regularly exceeding $1 million, this bet gives people a chance to change their lives. You obviously have four races to pick the winner of, and you can have as many selections as you like, but this obviously increases the cost of the bet. Often a syndicate or group of mates will tip in a bit of cash each and select the quaddie, with hopes of winning big.

Super or pick 6 bets

Not all bookmakers run this bet type, and it is near impossible to pick, but the odds are also the stuff of fantasy. Similar to the quaddie, but you have to pick the winner of six straight races, instead of four. Because this bet type does not attract the kind of money a quaddie does, bookies usually set the pool at a certain amount before the market opens, and then whatever punting money goes into it enhances the return. If more than one punter gets lucky and picks the super 6, the pool is split. The amazing thing about this is say a punter has a ticket worth 10 per cent, but is the only person to pick the 6, he or she wins the entire jackpot. Crazy stuff.

Don’t pick 6, place 6

Operates on exactly the same principal as the super 6, but, instead of having to pick the winners of six straight races, your selections only have to place. So each selection must finish in the top three in six straight races for you to win. The good thing about this is you can select multiple runners and, if more than one gets up, it’s like having two tickets. So say you have two horses place in the first race and then one in each of the next five all place, you effectively get two pay outs, via the first selection and the second selection.

Jockey challenge: who will rein supreme

Jockey challenge markets are usually provided for the big race meets (usually Mondays and Wednesdays) and involve punters selecting their favourite jockey to score the most points on the race day. Jockeys get scores for their rides, three points for a win, two points for second and one for third.

The premier jockeys in the race day will have their odds provided by the bookmaker and then there will be the options for ‘any other jockey’, which covers multiple hoops on the day. Guys like Damian Oliver, Keiran McEvoy and the like will always have their own markets. Be careful to check how many rides your jockey has on the day and inspect their horses to ensure they are good chances of getting home before you place the bet.

Have your horse head to head

In many of the premier races, if there are two dominant horses, online bookmakers will allow punters to bet on which of those will finish in a better position. So the two horses will be pitted against each other, excluding every other in the race and the punter must decide which will finish first. They can finish first and second or second last and last – if you pick the one that finished before the other, you win.

Get the all up and win big on your horse race

Have a multi on your favourite race meet. Pick the winner or place getters over the number of races you want at a particular meet. the dividends are multiplied by each winner or place getter. So if you have three legs, and each winner pays $2, it will be 2 times 2 times 2, which gives you an $8 return for your $1 bet. Obviously they all have to get home and you can certainly have more legs than just the three – have it on every race at the meet.

Jockey premiership betting

Who will be the best jockey of the year in your state or province? Online bookmakers will offer odds on which jockey will have the most successful season and all you have to do is pick the winner.

Bet on the price of stock at horse sales

Don’t raise your eyebrows here. Online bookmakers will often set markets on what price some of the high profile foals will sell for at the sales. Horses like Black Caviar or Lonhro have produced ridiculous foal prices at the sales in the millions of dollars and you can bet on how much they will go for. Yep, only in horse racing.

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