Horse Racing: Betting, Tips, and Facts
Horse racing, or simply racing, is all about horse competitions. With a hint of exaggeration, we could say that people have been betting on horses ever since they started running. But how do you bet on horses, and what are the most common types of bets you can place?
Betting on Horse Racing
Horse racing bets fall under the category of odds-based betting, which can be both entertaining and profitable—if you understand horses and know how to evaluate or even outsmart the odds offered by bookmakers.
You can easily place a bet either at the venue—which offers an exciting experience of watching the race live—or online. Simply select a betting opportunity—race, horse, and type of bet (e.g., win, place, etc.)—and wager an amount. Every opportunity is assigned a betting odds value that multiplies your stake and determines your potential winnings.
What might come in handy at the races? Besides sunglasses, an umbrella, or binoculars, it’s a good idea for punters to purchase a program (racetrack program) containing information about all the horses, jockeys, and owners. Additionally, a bulletin (daily racing form) with an overview of horses’ historical performances can be very useful.

Figure: Horse Racing Jockey (source: Craiyon)
Odds and Minimum Bets
The minimum bet for horse racing is around $2. The odds below are shown in a fractional and decimal format.
Fractional Odds | Decimal Odds | Fractional Odds | Decimal Odds |
---|---|---|---|
1/9 | 1.11 | 8/5 | 2.60 |
1/5 | 1.20 | 9/5 | 2.80 |
2/5 | 1.40 | 2/1 | 3.00 |
1/2 | 1.50 | 5/2 | 3.50 |
3/5 | 1.60 | 3/1 | 4.00 |
4/5 | 1.80 | 7/2 | 4.50 |
1/1 | 2.00 | 4/1 | 5.00 |
6/5 | 2.20 | 9/2 | 5.50 |
7/5 | 2.40 | 5/1 | 6.00 |
3/2 | 2.50 | 6/1 | 7.00 |
The number before the slash indicates how much you can win as profit, and the number after the slash indicates the wager required to win that amount. The simplest case is odds of 1/1 (also known as "even odds"), meaning if you bet $10, your net profit would be $10 (your stake is returned). This is equivalent to the decimal odds of 2. For example, with a $10 bet, your winnings would be $10 × 2 = $20 (net profit $10).
For instance, with odds of 1/5, you win one-fifth of the wager as net profit—in other words, to win $10 net, you’d need to bet $50. The equivalent "decimal" odds would be 1.2. If you bet $50, your total winnings would be $50 × 1.2 = $60, leaving a net profit of $10 after deducting your stake.
For odds higher than 1/1, it’s a less likely event, but the net profit is higher than the stake. For example, at 3/1 odds, a $10 bet would yield a net profit of $30.
Statistical Facts
To improve your chances of winning, the basis is gathering information, observation, and honest dedication to the "horses". It is not easy to compete with professional bookmakers. Tips from television commentators can also be useful. Furthermore, you might find these statistical facts useful:
- The ten best jockeys win about 90% of all races;
- Favored horses win in about 33% of all cases, but lower odds must be taken into account.
Types of Bets in Horse Racing
There are several types of bets in horse racing. Typically, you can bet, for example, that a horse will win the race or that it will place in first or second place, etc., or you can try to guess the winning horses in up to six upcoming races (the overall odds would probably be quite high), etc.
Bet (on) | Difficulty of Winning | Bet Description |
---|---|---|
Winner (Win) | Average | Your horse must win. |
Place 1–2 (Place) | Good | The horse must place 1st or 2nd. |
Place 1–3 (Show) | Very good | The horse must place 1st, 2nd, or 3rd. |
Winner/Place (Win/Place) | Good | The horse must win or place 2nd, with half of the bet going to Win and half to Place. For example, if the horse finishes second, half of the bet (on Win) is lost, but the other half is multiplied by the Place odds. |
Quinella | Average | You choose three horses, two of them must finish 1st or 2nd regardless of the exact order. |
Exacta | Difficult | You predict the exact order of the horses in 1st and 2nd place. |
Trifecta | Very difficult | You predict the exact order of the horses in 1st, 2nd, and 3rd place. |
Superfecta | Extremely difficult | You predict the exact order of the horses in 1st, 2nd, 3rd, and 4th place. |
Field Against | Difficult | In a race where a hot favorite is starting, you can bet that it will not win, i.e., it will finish second or worse or not finish the race. |
Daily Double | Difficult | You must choose the winners of two consecutive races. |
Pick 3 | Very difficult | You need to determine the winners of the next 3 races. |
Pick 4 | Extremely difficult | You need to determine the winners of the next 4 races. |
Pick 6 | Lottery! | You need to determine the winners of the next 6 races. It is very difficult to hit something like this, but the resulting betting odds (individual odds are multiplied) can be interesting. |
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Based on the original Czech article: Dostihy – sázky, tipy, fakta.