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Horse racing market types.


Horse racing market types.

Knowing the basis of horse racing is of great importance.

With this article you will get to know what to expect of the major market on the racetrack.

On the racetrack you will have several betting markets available, some more popular than others, in my opinion though, few of them have a positive EV.

The market as a whole is very lucrative though, if the bettor is qualified and knows how to study it.

In order to start our interaction with this sport let's have a quick tutorial about the major markets available to bet on the racetrack.

Let's see them then:


Winner:
 
Bet365 Apostas Cavalos Mercado Vencedor
 
Market dealing with bets on the race winner. It's the most popular market and where I focus most of my betting. In my opinion it is the most lucrative market on the racetrack. This market consists of a simple bet on the winning and you only win your bet if the chosen horse wins the race. To bet, simply click on the odd of your chosen horse on the main market, place the amount and confirm your bet, nothing out of the ordinary.


Each Way market:
 
Bet365 Apostas Cavalos Mercado Each Way
 
An each way bet (E/W) or (V/C) is basically two bets rolled into one. By placing this type of bet you are betting at the same time on the winner and on the podium, the rules are similar to the podium or place markets which I will be explaining later. To bet on this market, simply click the Odds of your chosen horse on the winner market and tick the small E/W or V/C square, as soon as you click it another bar will appear where you can select your bet amount, just choose one of the bars, place your amount and confirm your bet. Remember that one bar will divide your amount into two bets and the other one will simply duplicate the bet amount. ON some bookmakers only the option to double the bet amount will appear, you will only have the E/W option.


The prizing rules of this market are detailed below, together with the odd division, if applicable. 


"None Handicap" Races
 
From 2 to 4 horses - only the 1st place is paid (There are no Place's or EW on these races)
 
From 5 to 7 horses - 1st and 2nd positions paid by place: Place =1+ (1/4)SP
 
8 or more horses - 1st, 2nd and 3rd positions paid by place: Place= 1+(1/4)SP
 

"Handicap" Races
 
From 2 to 4 horses - only the 1st place is paid (There are no Place's or EW on these races)
 
From 5 to 7 horses - 1st and 2nd positions paid by place: Place =1+ (1/4)SP
 
From 8 to 11 horses - 1st, 2nd and 3rd positions paid by place:  Place =1+ (1/5)SP
 
From 12 to 15 horses - 1st, 2nd and 3rd positions paid by place: Place =1+ (1/4)SP
 
16 horses or more - 1st, 2nd, 3rd and 4th positions paid by place: Place =1+ (1/4)SP

 
Place, Podium or position:

Betfair Apostas Cavalos Mercado Place-Pódio-Posição
 
The podium market is a little trickier, it has specific rules and the market can suffer changes on the number of prizes on the podium because of possible forfeits, we can consider as a rule, however, that a bet wins in this market if our selection ends within the podium prize zone. Another aspect, the bookmakers are the ones that manage this market. In general you can find better offers on betting exchanges than on bookmakers, sometimes bookmakers don't even have these kind of markets and those who do not open it for every race. The betting exchanges rules also differ from the ones a t a normal bookmaker, on a race with 8 starting horses we had a forfeit, on the exchange the 3 podium positions are still valid, on the bookmakers however only 2 podium position are prized now. This is just an example but it is important to know the difference because it might happen that a race with 8 horses now only has 4 and because the same 3 top spots are valid on a betting exchange the EV has risen considerably to those who understand the market. 

 
Cover bet:
 
Bet365 Apostas Cavalos Cobertura de Lugares
 
This market is not available on all bookmakers. ON this market you can choose the number of places to be covered, to the positions available for cover place market rules will apply. So if you bet on a cover of 3 places, your bet is returned if your horse finishes in second or third place and, obviously, you will win your bet if your horse wins the race.


Head-to-head bets:
 
Betfair Apostas Cavalos Apostas Comparativas
 
On these bets we have a matchup between two horses, the objective is to bet on the one that will finish higher, place doesn't matter. So, it doesn't matter if you don't win the race or even if you get a podium finish, it is enough that your horse finishes ahead of the other. Be warned, this market is very inconsistent, don't let the odds fool you. I don't think it is an EV+ market, depends highly on the situation.

 
Bets without favourites:
 

Bet365 Apostas Cavalos Apostas sem Favoritos

Consists on placing a bet on the race winner taking one or more favourites out of the equation, these "retired" horses no longer matter to you and it doens't matter their finishing position on the race. For you to win your bet the horse you chose must win the race without the favourites you "retired", the only advantage here is that you can take out of the race a horse (or more) that are highly favoured to win.
 

Forecast/Tricast:
 
Bet365 Apostas Cavalos Previsão-Tricast
 
 
On the Forecast market your objective is bet on the horses that will finish first and second on the race, you can even choose to bet on their finishing order (bigger prizes), or in any finishing order.

Tricast is somewhat similar to the former market, the only difference being that now you must consider three horses. So, the objective is the same, bet on the horses that will finish in the top three spots, you can also determine their finishing order or not.
 
There are other kinds of market but I will stick to these today as they are the most popular.

Any doubt about this don't hesitate to contact me or write it on the comments.
 
We end this tutorial here, I hope you liked it. 

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