Odds,betting and wagers in Irish horse racing

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Updated: January 5, 2018
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Placing a bet on a horse race can be some great fun. Who knows, you may even come out of it a winner if your horse performs as expected. Betting on horse racing is incredibly simple: pick your horse (or horses) on the race card, and decide the bet type. When placing a bet online with many bookies, new customers can often claim free betting bonuses. These bonuses are a great way to win money without risking your own cash.

 

Bear in mind, you have the choice of betting with the Tote or the bookmakers and your bet can be as small or as large as you like, although some bookmakers might have a minimum stake. This amount will be displayed by the bookmaker. Whether you bet with the Tote or a bookmaker, you will be given a ticket that will record your selection and your stake. This is in effect your receipt, so keep it safe.

 

Bet Types

 

Racegoers can select any number of stakes. One of the most popular is a five-euro win wager on a 5/1. This yields 30 euros in returns (25 euros in winnings and the initial bet returned).

 

An each-way wager is two bets in one. Firstly, you’re backing a horse to win, and second, you’re backing it to be put. Getting €5 each-way on a horse will cost €10, €5 to pay the win part of the wager and €5 to the place component of the bet. If your horse does not win, but ends in the placings, there’ll be no return for your win bet and you eliminate this portion of your stake.

 

Explanations of Betting Odds

 

Most bookmakers utilize conventional fractional systems. Some might use decimals. Fractional odds are displayed in a familiar format, such as 2/1, 9/4, and 4/1. In spoken form, this is “two to one”, “nine to four” and “four to one”.

 

If your selection wins at 2/1, for each €1 bet, you’ll win €2, plus your original bet back. On occasion, your winning choice might be 1/2, meaning it is odds-on. In this case, for every €2 you bet, you will win €1, plus your stake back. In theory, the shorter the odds, the greater chance a horse has of winning.

 

Betting with Racecourse Bookmakers

 

Bookmakers are easily recognizable and add to the atmosphere of the racecourse. The vast majority of racecourse bookmakers ply their trade in the gambling ring, but they may also be found in corporate hospitality sections of the racecourse.

 

Racecourse bookmakers advertise the chances they provide bettors with on every horse on their display boards. Shop around and be sure to secure the best odds on your horse. While bookmakers may correct these costs as money is wagered before the race, you’ll obtain the odds advertised for your horse at the moment you place your bet – this is referred to as a fixed-odds bet. Your potential winnings will be shown on your printed ticket that the bookmaker provides you once you place a wager.

 

Tote Betting

 

Tote betting is available at all racecourses and throughout the Tote Ireland call-centre in Ballymany, Newbridge, County Kildare or on thetote.com. You can bet with the Tote in the many branded stations across the racecourse, or with Tote agents carrying hand-held apparatus, like in hospitality locations.

 

This means it pools together the cash received from stakes on a particular race, and stocks this out among winning clients. Keep an eye out for Tote bets like the Placepot, Pick 6 and Jackpot that are bets that are conducted over a range of races and can lead to massive pay-outs.

 

Straight Wagers

 

If you place a straight wager, you are only betting on one horse to:

 

WIN: You’re gambling that your horse will come in first place.

PLACE: When you bet on your horse to “place,” you are betting that he’ll arrive in first or come in second.

SHOW: You’re gambling that your horse comes in first, second, or third. As you’re hedging bets, you have a stronger likelihood of winning, but the payout for a series bet is substantially less than a win or place bet.

ACROSS THE BOARD: When you bet across the board, you are gambling your horse to win, place, and show. An across-the-board bet is what is called a “combo straight wager” because it has three unique stakes (win, place, and series) in one. As it has three stakes in one, an across-the-board bet is more costly than a simple win/place/show bet. By way of instance, a €2 across-the-board bet will cost you €6, since you are making three €2 bets. If your horse finishes second, you get put and show cash. If your horse comes in third, you just get the show money. Across-the-board bets aren’t normally a great bet because they are expensive and have less profit potential.

WIN/PLACE, PLACE/SHOW: Similar to an across-the-board bet in that you are making multiple direct wagers in one bet. In a win/place wager, you are betting your horse to acquire and place. If he wins, you collect both the win and put cash. If he finishes second, you collect only the place money. In a place/show wager, you are gambling that your horse will place and show. If your horse finishes second, you collect the location and reveal money; when he finishes third, you just get the show money. As you are putting multiple wagers on your horse in one bet, a win/place and place/show is much more expensive. A €2 win/place bet will cost you €4 because you are betting €2 that your horse wins and €2 that your horse places.

 

Exotic Wagers

 

Exotic wagers permit you to bet on multiple horses in one bet, letting you improve your profit potential. But, they are much harder to win than straight bets and can get pricey if you are not careful. Feel free to experiment with a few exotic wagers after you have completed a couple of straight bets. Some of the exotic wagers include:

 

EXACTA: You’re betting on two horses to come in second and first in an specific order. Exacta bets are popular amongst skilled horse handicappers since the payoff can be extremely lucrative. You may even “box” your exacta bet that means your two horses can arrive in any order in the top two spots and you still win. Boxing an exacta costs twice as much as a direct exacta bet.

QUINELLA: With a quinella bet, you are betting on two horses to come in first and second in any order. Provided that your two horses finish in the top two spots, you win. Therefore, if you put a €2 quinella bet on horses 1 and 6, then it is possible to collect if horse #1 and horse #6 come in first and second in any order. Why would someone pay more for a box exacta bet if it is essentially the exact same bet for a quinella? The payout for a box exacta is usually greater than a quinella bet.

TRIFECTA: You bet that three horses will finish in first, second, and third in an specific order. If you put a €2 trifecta wager on 1-5-7, you can only collect if horse #1 comes in first, horse #5 comes in second, and horse €7 comes in third. You could also box your trifecta wager so that you can win if your three horses come in first, second, and third in any order. Boxing a trifecta will significantly increase the price of your bet as there are lots of combinations. So a €2 box trifecta wager will really cost you €12 or a €1 trifecta boxed will cost you €6.

SUPERFECTA: You bet that four horses will complete, first, second, third, and fourth in an specific order. Much like exactas and trifectas, you can box a superfecta for an extra price. The minimum wager is often very small, making it more appealing to a lot of folks.

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