Want to learn more about horse racing types of bets? Read our detailed guide to horse racing bet types here!
Anyone wanting to start learning how to bet on horse racing needs to know about the types of bets they can place. If concepts like singles, doubles, yankees or accumulator baffle you, then you must address these gaps in your knowledge long before you dive into placing wagers on horse races. Thankfully, this handy guide we have provided for you here will help you pick up the basic knowledge about the types of horse racing bets that you need. Read on to get a good basic grasp of the horse racing bet types that you can place at horse racing sites!
Horse racing bet types explained
So, let’s give you the information you’re craving. In this section of the article, we’ll run down a selection of types of horse racing bets, and outline in basic detail how each one works. When you are betting on the ‘Sport of Kings’, however, you also need to be aware of the different horse racing types that exist. Some races are run over hurdles while others are run on flat ground – this is a really important thing to consider and you must research it properly before you place any of the types of bet here.
Simple horse racing bet types
- Single: This is probably the most commonly placed type of bet. It is a simple bet on which horse will win a race.
- Double: A double is a single bet on two outcomes in two different races. Both selections have to win for you to win your bet.
- Treble: Similar to a double, but this time it is a single bet on three results in three different races. Once again, all three selections have to win for you to collect on the wager.
Multiple selection horse racing bet types
- Accumulator: An accumulator is a popular type of bet that you may have come across if you already bet on team sports such as football. In horse racing, an accumulator consists of at least four separate selections in one wager. All four selections have to win for your bet to be successful.
- Trixie: A more complicated form of bet, a Trixie consists of three selections and four bets, made up of three doubles and a treble. For you to collect any winnings from the wager, at least two selections must win.
- Patent: This bet entails you making three selections and placing seven bets. The bets must be three singles, three doubles and one treble. Keen-eyed readers will have spotted that this is basically a Trixie with three single selections added to it.
- Yankee: This wager is made up of four selections and seven bets. It consists of six doubles, four trebles and a fourfold, and at least two selections have to win if you are to collect any return from it.
- Canadian or Super Yankee: This is a 26-bet wager on five selections that is made up of ten doubles, ten trebles, five four-folds and a five-fold accumulator.
- Heinz: A Heinz consists of 57 bets, hence its name, over six selections. It is made up of the following bets: 15 doubles, 20 trebles, 15 four-folds, six five-folds and a one six-fold accumulator. If you haven’t spotted why it is called a ‘57’ yet, it is due to the Heinz company’s famous old marketing slogan about offering “57 varieties”. This complex bet type combines every possible permutation of the six selections into one single bet. As a result, this is not really a bet beginners should consider placing until they have collected a little more experience.
- Lucky 15: This popular bet type consists of four selections and 15 bets – which is where it gets name from! A Lucky 15 is made up of four singles, six doubles, four trebles and a fourfold. It is a Yankee with the addition of those four singles. Only one of the selections has to win for you to collect some kind of return.
Other horse racing types of bets
- Each way bets: Each way bets are another popular one of horse racing type of bet that you can place. These are two-part wagers, with half of the stake going on your selection to win, and the other half going on your selection to place, which normally means the horse finishing in the first three or first four places. This bet costs twice what a standard single bet costs, but will give you a return if your horse wins or places.
- Reverse forecast: This bet entails you selecting the first two horses in a race but not in a specific order.
- Placepot: This type of bet is very popular with people who actually attend race meetings, but you can also place it online. You must select a horse from all six races at a single race meeting to place. If one selection fails to win or come in the first three places then your bet loses!
- Jackpot: If you have cast your careful eye over a horse racing class chart, studied the form and consider yourself something of an expert, you might want to place a jackpot bet. A jackpot might possibly be the hardest bet to actually win, so consider it carefully before you commit! To win, you must correctly predict all six winners at a single race meeting to win a share of the prize pool. One wrong selection means your whole bet will lose!
Knowing the various horse racing bet types is key to putting together a successful betting strategy. You need to ensure that you have a good grasp of how each type of bet works so that you can properly assess risk and whether horse betting odds offer good value. When you have mastered the various bet types, you can build a strategy based around studying the form, having good overall horse racing knowledge, and staying calm and keeping a close eye on your bankroll. A horse racing class chart is another useful tool in your armoury!