Racing Insurance

No. 6 AAA Insurance Ford

Sunday, June 22, 2008 at Infineon Raceway in Sonoma, Calif.

How to Get Ahead in Betting on Horse Racing – Each Way Betting

Learn how to improve your win to loss ratio using each way betting.
The world of betting on horse races can be tricky and to the complete novice it is a very easy way to lose your money.

Always follow the first rule of betting:-Never bet more than you can afford to lose. Look upon betting as a hobby and set yourself a maximum total stake be it for a day at the races or a monthly betting allowance. Expect to lose it and you will stay happy win, lose or draw and won’t be tempted to chase your losses.

Each way betting is considered to be one of the most canny ways of betting. Betting each way can reduce your losses when it is used in conjunction with horse racing knowledge and studying the form. Bookmakers hate each way thieves. They would rather you placed “multiple” bets such as double, trebles, and accumulators which significantly reduce your chances of winning because usually at least one part of your bet lets you down and so makes your bet a losing one.

What is each way betting?

An each way bet is two bets of equal value. The first is a win bet on your horse and the second is a place bet. A place bet covers the possibility of your horse finishing second or third or even fourth depending on the number of runners in the race. A £5 each way bet would cost you £10 (2 x £5).

The number of runners in a race dictates how many places will pay out and at what rate your place element will be paid. Also a factor is whether the race is a handicap or not. A handicap race is where each horse is given more weight the better they are with the intention of giving all the runners an equal chance of winning.

Non Handicap Races

2-4 runners = win only

5-7 runners = 1, 2 at 1/4 the odds

8 or more runners = 1,2,3 at 1/5 the odds

Handicap Races

2-4 runners = win only

5-7 runners = 1,2 at 1/4 the odds

8-11 runners = 1,2,3 at 1/5 the odds

12-15 runners = 1,2,3 at 1/4 the odds

16 or more runners = 1,2,3,4 at 1/4 the odds

These are the basic guidelines bookmakers work to but occasionally bookmakers will offer concessions, usually on big race occasions in order to attract more business. Look out for offers of payouts on 5th place or the odds fraction being increased from 1/5 to 1/4

Betting odds

Each horse has a price eg evens, 9/2, 5-1, 10-1 etc. Before the race these prices or odds will fluctuate according to how much money they are attracting. You can either take the price offered at the time you place your bet or elect to go for the starting price (SP). Taking SP is risky as the odds may shorten considerably before the off -although you may be lucky and they could improve. (although a horse drifting in the betting market is usually a bad sign) By far the best choice is finding a bookmaker who is offering guaranteed odds. This is where you take their show price and are paid out at that price if the SP is smaller. If the SP is greater they pay you at SP. So you are guaranteed the best price.

At a racecourse you are more limited these days you can bet with the on course bookmakers whereby you take their board price (the price on show) or you can bet with the tote – this is a highly unpredictable option as it is pool betting. All the stake money is pooled and winnings are distributed according to how much money was bet on the horse. Therefore the more popular your selection becomes the less you get and vice versa. Some racecourses do have an on course betting shop but you are limited. If you are going racing it is worth considering betting via, internet, phone, tv etc before you go to get the best deal. The problem with this is you won’t be able to see the horses in the parade ring before making your choice or follow an on course gamble. You pays your money and takes your choice.

So how do odds work?……….

The odds you take determine how much you get paid should your horse win or be placed. For example if you backed a horse £5 each way at 10-1 then your payout would be as follows;

Horse wins race (8 runner non handicap) = £5 x 10 = £50.00 for the win part of bet plus 1/5 the odds for the place part = £5 x 2 = £10.00 plus all the £10.00 stake back. A total return of £70.00

Horse second or third (8 runner non handicap) = 0 for the win part and 1/5 the odds for the place part = £5 x 2 = £10.00 plus the place part of the stake back = £5.00. A total return of £15.00

As you can see whilst the place part of your bet hasn’t won you a fortune at those odds it has provided you with an insurance policy. Backing the horse to win with your total £10.00 stake would have netted you £100 but had it finished 2nd or 3rd you would have lost £10.00. Backing the horse each way means you have still won when the horse is placed. Of course had the horse not been placed you would still have lost but you can improve your chances of avoiding that happening…

The Dead Eight

The ideal race to back each way in is a non handicap race with exactly eight runners. This is because it pays out on 1st, 2nd and 3rd places for just eight runners. Seven runners and it’s only 1st and 2nd. Races of more than eight runners just gives your selection more horses to have to beat. So your chances are much better in the dead eight. Eight runners is usually sufficient for the odds to be generous enough on several horses for each way betting.

Remember to look out for value in the odds. Look for a horse that has a good chance of getting in the first three at good odds. A 100-1 shot might look tempting but if the horse is usually beaten by miles it probably will be again unless something significant has changed in it’s favour. The fourth or fifth horses in the betting might be where the value lies as they will have a reasonable chance of being placed at reasonable odds. Study the form – which horses will like the going, which are proven over the distance, which horse’s trainer is in form? Don’t let yourself be put off by the odds though. Generally the bigger the odds the less chance a horse has but the odds are set by humans and they can make mistakes. If you think a horse has a chance but the odds suggest otherwise just be glad the bookies are being so generous! The bigger the odds the smaller your stake needs to be! When you think the odds are generous for the horses chances then that is value.

Be Canny

Finally learn to use each way betting in your favour. Each way betting can be used as an insurance policy on horses you believe will win. So long as the odds are 4-1 or better consider backing each way. That way if things don’t quite go right for your horse you will get your money back. (the bookie hates that) Alternatively use each way betting to find the value – back a horse you think will be placed at reasonable odds that will give you a higher value win if it is placed than backing the short priced favourite to win would. Nb Putting £10 on the winning 6-4fav would win you £15 but so would backing the 20-1 third place horse at 1/5 the odds. It is no harder selecting a horse likely to be placed than it is selecting the winner. In fact it is easier. There is onlyonewinner buttwohorses will be placed 2nd and 3rd. You will also have the advantage that your each way horses will occasionally win giving you a bumper pay out. Backing the favourites never does that.
So next time you’re enjoying a day at the races, remember to use each way betting to your advantage.

I hope you found this article useful. You may also like How to Get Ahead in Betting on Horse Racing – The Paddock Pick

or for regular free bets..

http://www.bukisa.com/articles/457818_how-to-get-ahead-in-betting-bet-for-free-win-regular-free-bets-with-no-deposit-required

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