BETTING ON HORSE RACES – SOME THOUGHTS
HORSERACING IN THE UK
The variety of horseracing in the UK is unparalleled anywhere in the world. Sixty racecourses, each with a unique atmosphere, cater for all tastes and pockets. A day`s racing is an exciting occasion and a great horse or famous race can transform the day into a magical occasion. Britain`s racecourses offer an enjoyable day out for people of all ages. All courses offer free admission for accompanied children aged under 16.
Racing can take place in the UK for 362 days a year, the only exceptions being Christmas Eve, Christmas Day and Good Friday. Sunday racing has grown in popularity in recent years, while evening meetings are excellent for those working the nine-to-five and thus unable to attend afternoon fixtures.
TYPES OF BET
Betting to Win
A win bet is exactly what it says; the selected horse must win the race for the bet to be successful. Returns from such bets include the stake, so £10 on a 4/1 winner returns 4 x 10 + 10 = £50.
A each-way bet is actually two bets, one for a win and one for a place, so costs twice as much as a win bet to the same stake, i.e. £10 each-way costs £20. Such a bet on a 4/1 winner returns £50 for the win, as above. Assuming the place terms are ¼ the odds, the place return is 4 ÷ 4 x 10 + 10 (the stake) = £20, giving a total return of £70. If the selection is placed, the win bet is lost, leaving a place return of £20.
Place betting is only available with the "Tote." Dependent of the size / type of the field a dividend is declared, to a £2 stake, on horses finishing in the first two, three or four places.
Jackpot and Placepot
These are also Tote-only bets. The Jackpot requires a punter to name the first six winners at a meeting. Horse Racing Systems The Placepot, which appears to be a punters` favourite, requires the successful prediction of a horse placed in each of the first six races. Permutations are allowed with both bets and rewards can be very lucrative.
Betting exchanges such as BetFair, BETDAQ and WBX have revolutionised horse race betting. They act as brokers, essentially allowing customers to bet against each other backing selections to win or laying them to lose. Prices tend to be a little higher than those offered by "traditional" bookmakers. The ability to bet or lay horses "in-running" is a particularly popular feature with punters.
Online betting on horseracing has grown vastly in popularity over the last decade. Opening an account with an online layer is a quick, straightforward process, with various bonuses offered for doing so. Holding a "portfolio" of accounts with several of the top online bookmakers ensures that a punter will always get the pick of the prices on offer.
For those contemplating parting with cash in exchange for racing tips, there are a number of things to bear in mind:
1. Some unscrupulous tipsters charge extortionate amounts for alleged privileged information. Any tipping service with a subscription in excess of about £30 per month should be ignored.
2. Previous selections used in advertising must have been "proofed" to a reliable source, e.g. the Racing Post.
3. Beware the phrase "profit to recommended stakes". Such stakes are often £100 or more, often beyond the means of the casual punter. "Level stakes profit" is a far better measure of a tipster`s success rate.
4. The number of bets expected in a given period. An average of about one per day is reasonable.
POPULAR HORSE RACES
The Cheltenham Festival
Extended to four days, featuring twenty-five races, in 2005, the Cheltenham Festival is the pinnacle of UK National Hunt racing. It takes place in mid-March, with steeplechasing`s "Blue Riband," the Cheltenham Gold Cup on the closing afternoon.
Ascot`s Royal meeting, held in the third week of June, has been extended to five days, with a Group 1 race on each day. Over ¼ million people "invade" Berkshire every June, to attend Europe`s most prestigious race meeting.
The "National" is the world`s most famous race, run over Aintree`s unique fences, at the beginning of April. The 4m 4f contest never fails to capture the public imagination and generates many millions in betting turnover, both in betting shops and by way of Grand national online sports betting. www.bet123.net/wp/category/grand-national
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