The Horse Racing Network

A Beginner’s Guide to Horse Racing Betting

If you’ve just discovered the amazing world of horse racing you’ll already be aware that it is a world within a world. Thrilling and baffling in equal measure to newcomers, there is lots to learn about the betting that makes the sport that much more exciting. We hope you’ll back plenty of winners, but in order to make sure that you get as much enjoyment out of betting on the sport as possible, always remember that you should never bet more than you can afford to lose.

Here at The Racing Network we want to help point you in the right direction. In this article we’ll outline just some of the main bets – win, each-way, and multiples – that are available in the UK & Ireland. In a separate article we will explain, forecast betting and the betting exchanges.

Win and Each-way

The two simplest and most popular bets placed in the UK & Ireland and available with every high street, racecourse, or online betting company (known colloquially as ‘bookmakers’) are a WIN bet and an EACH-WAY bet.

WIN – You select a horse you think will win the race. If the horse wins at odds of 5/1 and you bet £1, you will receive a profit of £5 plus your £1 stake returned.

EACH WAY – An each-way bet is essentially two bets; one bet that the horse will win, the other equal bet that the horse will finish in a place, which usually means the first three places. Four places are sometimes offered when there are more runners in the race (particularly in handicap races). These days, due to the competitive nature of the industry, some firms might offer five or even six places in big races where there are a lot of runners, usually 16 horses or more. The place odds are usually calculated at 1/5 the win odds

Example: If you have a £1 each-way bet it will cost you £2; £1 win and £1 place. If the horse wins at 5/1 you receive the £5 profit on the win part of the bet and a further £1 profit for the place as that is one-fifth of the win portion of the bet. You will receive £8 back; £6 profit plus your £2 stake. If the horse finishes placed, your win part of the bet is a loser, but you receive the £1 profit on the place. When returned with the £1 place part of the bet this makes a £2 return, meaning you get your original £2 stake back even though the horse didn’t win. This is why many punters like to bet each-way, particularly when the odds are 5/1 or bigger.

Multiple Bets

For our multiple bet examples we will demonstrate the bet to a £1 stake, but particularly in multiple bets your unit stake can be as little as 5p or 10p. Most betting sites now have a ‘bet calculator’ feature which allows you to work out how much to spend on your bet, and how much you have won or lost.

A DOUBLE – A double is when you select two horses in different races. Both must win for you to be paid out. Should the first horse win, the total is carried forward to the second horse. If that also wins you have landed a winning DOUBLE.

For example: You place a £1 double on horses at 2/1 and 5/1. The first horse wins at 2/1 so you have £3 going on the second horse. That wins at 5/1 which is multiplied by your £3 giving you £15 as well as the £3 stake that went onto the second horse. Your return is a total of £18 for your £1 original stake.

A TREBLE – A treble is an extension of a double, but with a third horse that must also win. So if you have a £1 treble and your first two horses win at 2/1 and 5/1 (as demonstrated above), the £18 is carried forward to your third horse. If that wins at 10/1 it is multiplied by the £18 carried forward to give £180, plus the £18 bet is also returned, meaning you receive £198 for your 2/1, 5/1 and 10/1 treble, that includes your original £1 stake.

Multiple bets can include as many horses as you like, but the more horses you include in the bet, the less chance there is of winning which is why most experienced punters don’t look much further that a double or a treble. Multiple bets can also be placed each-way, so you still get a return (much lower) if the horses are placed, but don’t win.

Full Cover Bets

A full cover bet is a bet that includes multiple horses (three or more) and covers all possible winning combinations.

PATENT – Is based on three horses and includes a total of seven bets that are multiplied by your stake. So if you have a £1 win patent it will cost you £7. The bets are three single win bets, three doubles, and a treble. An each-way patent in which you still get the place odds if the horses don’t win but finish in a place, will cost you double a win patent, so for a £1 stake is £14.

Note: A TRIXIE  is a three-horse bet but does not include the singles, only the three doubles and the treble, making a total of four bets for win purposes.

LUCKY 15 – Is based on four horses and includes a total of 15 bets that are multiplied by your stake. So if you have a £1 win Lucky 15 it will cost you £15. The bets are four single win bets, six doubles, four trebles, and a four-horse accumulator. An each-way Lucky 15 in which you still get the place odds if the horses don’t win but finish in a place, will cost you double a win Lucky 15, so for a £1 stake is £30.

Note: A YANKEE is a four-horse bet that does not include the singles, so is made up of six doubles, four trebles, and a four-horse accumulator, making a total of 11 bets for win purposes.

LUCKY 31 – Is based on five horses and includes a total of 31 bets that are multiplied by your stake. So if you have a £1 win Lucky 31 it will cost you £31. The bets are five single win bets, 10 doubles, 10 trebles, and a five fourfolds and a five-horse accumulator. An each-way Lucky 31 in which you still get the place odds if the horses don’t win but finish in a place, will cost you double a win Lucky 31, so for a £1 stake is £62.

Note: A SUPER YANKEE (also known as a CANADIAN) is a five-horse bet that does not include the singles, so is made up of 10 doubles, 10 trebles, and a 5 fourfolds and a five-horse accumulator, making a total of 26 bets for win purposes.

LUCKY 63 – Is based on six horses and includes a total of 63 bets that are multiplied by your stake. So if you have a £1 win Lucky 63 it will cost you £63. The bets are six single win bets, 15 doubles, 20 trebles, 15 fourfolds, six fivefolds, and a six-horse accumulator. An each-way Lucky 63 in which you still get the place odds if the horses don’t win but finish in a place, will cost you double a win Lucky 63, so for a £1 stake is £126.

Note: A HEINZ is a six-horse bet that does not include the singles and is made up of 15 doubles, 20 trebles, 15 fourfolds, six fivefolds, and a six-horse accumulator, making a total of 57 bets for win purposes

There are other multiple bets that include more than six horses but they are very costly and rarely are profitable. As a rule of thumb, including more than three or four horses in a multiple bet makes it very difficult to come out with an overall profit. It is for good reason that bookmakers and betting companies, in general, fear the single or a double much more than the multiple bets.