Sitting in the comfort of your own home, choosing which horse races you want to watch and deciding on how much to wager without the pressure from other punters or bookmakers. This is the new way to have a punt on horse races thanks to online betting. However for many beginners, knowing where to start with the online betting industry can be a daunting experience so here is a breakdown of online betting and how to bet on horse races.
Choosing a Bookmaker
Picking the right online bookmaker is a decision which is determined by what races you want to punt on and what betting types you want to use. Many bookmakers will specialise in specific big races while others will offer all races from the local country cup to the Melbourne Cup.
Here is a checklist of the key aspects of an online bookmaker:
- Popularity – Highly recommended and larger bookmakers tend to be more reputable
- Payment – There should be a wide range of payment options; Credit Card, Money Order, Direct Deposit, PayPal etc.
- Customer Service – 24/7 friendly customer service is essential.
- Betting Options – What is the range of horse races available? Does it suit your needs
- Signing Up – Ensure you receive the free bonuses offered to you when you signed up. However if a bonus seems far too good to be true…most often it is
- Security – Check with online chat forums whether the online bookmaker is consistent in paying their customers. Bookmakers which take weeks to payout should not be given money.
Choosing a Race
There are a range of different race categories to choose from and understanding what each race is will definitely help you to understand which races offer the best odds.
- Maiden – For horses who have not yet won a race, the top races being the Maiden Special Weight races.
- Stakes races – The best of all horse races which is restricted only for the top horses. These races produce the largest pay outs and can be either local or major races. The top stake races are graded from 1 to 3 with 1 being the best races e.g. Melbourne Cup. There are no restrictions on these races apart from age and sex.
- Oaks – A race specifically held for 3 year old fillies.
- Derby – Classically, this is a 2400m endurance race which is only offered to 3 year old horses.
- Sprint race – A fast-paced race under one mile with normally only one turn.
- Weight-For-Age – A WFA race requires the horse to carry a specific weight which is determined by their age. Generally, the categories are 3 year olds and 4 year olds and up.
- Set-Weight – A SW race means all the horses in the race will be required to carry the same weight. Fillies and Mares are normally given an allowance of 1.5kg.
- Handicap – Often the toughest race to win as each horse is given a carrying weight determined by their previous racing performance and weight. The handicap is designed to even out the competition in the race.
Choosing a Horse
- Class – A horse in a higher class for the first time will generally not win the race so check which horses are new and their chances of beating the more experienced race horses.
- Distance – Compare the horses’ times over the same lengths and determine which horses are most successful.
- Post Position – How does each horse perform at different post positions and does their position affect their chances of winning.
- Running Style – There are three main running styles: front runner, stalker and closer. A front runner is a horse who runs in the lead or in 2 lengths of the leader. A stalker rarely makes the lead but often gains momentum to overtake tired front runners. A closer runs best when there is a lot of early speed.
- Trainer – Who is the trainer? Have they had much success previously?
- Jockey – How much experience do they have? How do they handle their horses and will their style affect the horse’s performance?
- Present Form – A horses current fitness level is a great indicator to their chance of success as any injuries can affect their winning chances.
- Consistency – Analyse the horse’s past track record and determine whether they normally place quite high or if the horse’s placings fluctuate each time they race.
- Weight – Although this isn’t considered very important a horse should generally not be carrying more than 59 kg. Anything over that amount is a bit risky.
Choosing a Betting Type
- Straight bets -
- Win (which horse will finish first)
- Place (horse must place first or second)
- Show (must place in top three)
- Across the board wager (horse will take either of the first three places).
- Quinella – Choosing two horses in no specific order to win first and second placings. Although the punter has good odds, a quinella will pay less than a trifecta.
- Exacta or Perfecta – The punter must choose which horses will win first and second place in the correct order.
- Trifecta – Picking the first three winning horses in the correct order.
- Box trifecta – First three horses in any order.
- Standout trifecta – Picking the winner and then the next two horses in any order.
- Superfecta – Same as trifecta plus the fourth placed horse.
- Daily Double – Predict the winning horses in any two races.
- Running double – Selecting the winners of two consecutive races.
- Quadrella – To pick the winners of four pre-nominated races on the card.
- Straight six – Select the winners of six consecutive pre-nominated races.
The next step for hopeful punters is to get online and start betting on the many races available to them. The next major international races on offer are the Breeders Cup in the USA and the Japan Cup in Tokyo. Otherwise punters can wager on the Melbourne Racing Carnival including the world renowned Melbourne Cup.
