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Horse
Racing Gambling Basics
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There
are a number of different types of betting. The three most common forms
are Standard Betting, Spread Betting and betting on the Tote.
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Standard
Betting
This type of betting has been around forever and it's the method of betting
that most punters know and love. If you back at the racecourse then you
will place a bet of this nature with a bookmaker. The bookmaker will quote
odds on his board for each horse. You then select the horse that you wish
to back and as long as the odds are agreeable with you then you will place
a bet at the stated odds. You will then be given a ticket that shows you
the amount bet, the odds that the bet was struck at and the amount that
you stand to win.
You know exactly where you stand with this bet. You know how much you
stand to lose and you also know how much you stand to win. What's more
the odds can't be altered after the bet has been struck.
If you are in a betting shop, on the Internet or phoning a bet through
to your bookie, then you can also place a bet of this nature at S.P. or
at starting price. This means that at the time of placing the bet you
don't know what the odds will be that the bet is struck at. The odds will
be set at the start of the race, hence the name starting price.
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Spread Betting
This method of betting has significantly increased in popularity in the
last few years and is more akin to buying and selling shares on a stock
market. The best way to try to explain spread betting is to look at some
of the bets that are on offer.
Favourites Index.
If you bet on the favourites index you are betting on the number of favourites
that will win at a particular meeting. Favourites are awarded points for
where they finish in a race. A winning favourite will pick up 25 points,
a favourite that is place second 10 points and a favourite coming third
will earn five points.
The spread betting company will quote the number of points that they except
all the favourites at a particular meeting to amass. If there are a number
of hot favourites then the quote will be high. If the favourites look
beatable then the quote will be low. It is then up to you to determine
if you think the quote is on the high or low side. For example if the
quote is 55-59 and you think that most of the favourites will do very
well and therefore they will pick up more than 59 points then you "buy"
the index. If you think they won't pick up that number of points then
you will "sell" the index. You bet in pounds per point, i.e.
£5 for every point. So at the end of racing, if you had bought the index
at 59 and bet five pounds per point and the favourites had amassed 70
points then your profit is 11 * 5 = £55. If on the other hand you had
sold the index at 55 you will have made a loss of £75 (15 points * £5).
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