South Africa plays host to three famous horse races, which take place in three of its principal cities. The Summer Cup in Johannesburg, the J&B Met in Cape Town, and the Durban July in Durban. That’s not all though, because South Africans love placing sports bets on horse racing events from around the world. Many events occur every week, giving you plenty to wager on and even more to get excited about.
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With any sport, it is important to get to the basics before anything else. This is true if you’re a sports bettor, too. That’s why we have some basic betting rules for you to understand when it comes to horse racing.
As with all sports, there are different bet types available when it comes to horse racing. In this betting guide, you can see some of the popular and common betting options to take advantage of below.
When placing a wager on win, you’re betting on which horse you think will win the race. This is the simplest of horse racing betting wagers, and it also comes under the name of ‘Single’.
If you don’t want to bet on a horse to win in specific, you can bet on it finishing first, second or third. This is a ‘Place’ wager, which gives a higher chance of winning, but lower odds.
A common bet with U.S. bookmakers, a ‘show’ allows you to bet on a horse coming first, second, third or fourth.
Also known as a ‘perfecta’ bet, this is a wager on two horses. You place a bet on one to come first and the other to come second in the race, increasing your risk, but also increasing the potential payout.
This wager is the same as the ‘Exacta’, but it also incorporates the horse coming in third place. Thus, your potential payout is increased, as is your risk once again.
Pick bets require you to choose winning horses from several races. These can be ‘Pick 3’, ‘Pick 4’ or ‘Pick 6’ in most instances. The more horses included in your pick bets, the more you stand to win, although all of the selections need to win for you to receive a payout.
The betting odds provided by an online sportsbook can come in different formats. Gamblers work with the ones that cater most to their preferences. Below, we’ll explain how each of these formats work for the horse racing odds provided.
These odds are often associated with horse racing and primarily exist across the UK. Fractional odds are displayed as standard fractions. For example, at Royal Ascot in the Coventry Stakes, horse Asadna has odds of 3/1 on winning.
In this example, for every 1 unit you stake, you receive 3 units if the bet wins. So, should you place a bet of $20 on this horse winning and it does, you receive a payout of $60. Odds displayed the other way round, such as 1/3, means that the horse is an odds-on favourite to win. So, every 3 units you stake, you win a single unit as your payout, in this instance.
Decimal odds are the simplest ones to work with of all. Let’s take the same race and look at the odds on Bobsleigh winning it. The Betway South Africa sportsbook gives it odds of 15.00 in the Coventry Stakes. To calculate your potential payout of a $20 stake on this horse, you just multiply $20 by 15.00, equating to $300. Your stake is already factored into this price, unlike fractional odds, where the payout does not include that amount.
It is common for American odds to be utilised in team sports more so than anything else. Horse racing events aren’t like this, so where standard American odds feature + and – numbers, horse races tend to only feature positive numbers on all runners.
So, looking at River Tiber also running in the Coventry Stakes, the sportsbook offers odds of +162 on it. So, for every $100 wagered on this horse, you will win $162 as a payout if it wins. Should you only bet $20 on the horse, you would win $32.40. The calculation for that is 162 divided by 100 multiplied by $20.
There are certain horse racing betting tips that we can provide in order to set you off with it on the right foot. Research is key to placing horse racing wagers. Take a look at some of the ideal ways of doing this below.
When we talk about ‘form’, this is basically a record of each horse’s performance in previous race meets. By looking at this information, you can acquire a certain amount of guidance on the future performance of runners. Comparing the form of horses should also enable you to pick the competitors who are more likely to succeed in a race.
The best place to look for a horse’s form is on the race card. This can be found at online sportsbooks, with a number indicating what position the horse finished in when competing in its last race. So, if the number 1 is displayed, this means the horse did well and won.
A number 0 indicates that it finished outside the first 9. The – separates racing seasons, while / indicates a longer gap, so if the horse missed an entire season, this will be used. P or PU is a sign that the horse was pulled up by the jockey and thus did not complete the race.
Past performance information like this is very significant, while the jockey and trainer statistics also help in determining potential winners. You can find all relevant information with a simple Google search, which can greatly assist in forming ideal horse racing betting strategies.
Horse racing features different types of races for players to bet on. Not all horses have equal strengths across the board, which is why there are different events available. Events differ due to the type of course, type of races and the horses involved. Two main types of races occur, which are flat racing and jump racing, which are split by various groups and races.
You’ll need to ensure you employ certain horse racing betting strategies and tips if you want to enhance your chances of success. Of course, following the latest horse racing and general betting news is an ideal way to start. Yet there are some other horse racing betting tips to learn, as outlined below.
There are various ways to manage your betting bankroll. This is important so that you’re not depositing and betting more than you can afford. You should first create a budget and try your utmost best to stick to it.
Be sure that you know what you can afford to lose each week or month and set this aside for betting purposes. Make sure you also size your horse racing bets properly, so that you’re not going all-out on a single wager.
Choose a small percentage of your bankroll for each bet. Furthermore, don’t bet on everything available – stick to one or two markets instead. Plus, keeping a record of your bets, their outcome, how much you won or lost, how much of your bankroll is left, and so on, is ideal.
Value is used to explain the relationship between a horse’s real chances of winning and the probability of this via the published betting odds. Sports bettors should always remember that they will never win every single one of their wagers.
Yet in value betting, gamblers need to make their own predictions about the likelihood of a specific horse winning. This could be a bet on a favourite or on an underdog. Having the skill to do something like this ensures you can make better decisions, and potentially make better profit.
If you haven’t used exotic bets before, then it is ideal to learn about them. Exotic wagers allow you to make multiple wagers on multiple horses in a single bet. They’re usually a lot harder to win than placing straight bets on a single horse. A certain level of advanced skill is necessary, and you need to know the different horses participating in races.
Exotic bets include options like Exacta, Quinella, Trifecta and Superfecta bets. Of course, there is a higher risk factor involved with exotic bets, but you also stand the chance to win larger payouts.
You’ll need to ensure you’re selecting an appropriate betting platform for your horse racing needs. Here are a couple of tips to follow when determining which South African sportsbook is the right one for you.
You should take a look at the licensed status of different online sportsbooks, as well as their general reputation with gamblers. The user experience is an all-important factor to consider alongside everything else, as you need to know you will be comfortable using the site.
You should also think about additional features, such as whether live streaming of horse racing events is available and how many betting markets exist for you to get involved in. See if the odds are competitive with the general market, too.
We always recommend browsing through the features of your favoured site(s) before joining as well. The best platforms will provide you with past performance data on each horse competing, so that you can determine which are the top runners to back.
Live video streaming is also an ideal extra feature, giving you extra assistance if you’re live betting on races. Plus, if you ever want to engage in betting while on the move, mobile apps are always ideal additions to online sites. Take a look at other perks, such as cash out tools when in-play betting, or bet builders to construct your very own set of wagers in one.
Horse racing betting is a popular pastime for many people, without a doubt. Yet it is important to remember to engage in responsible gambling. This not only means using a proper bankroll and managing it well, but not spending money beyond your means on horse racing wagers.
The information provided within this detailed horse racing guide should set you off on the right foot. Using it will provide a wonderful start to your betting experience on racing, and with proper control over your bets, you stand the chance of having more fun.