Betting

Betting Guide

If you’re new to racing, this basic Guide to Betting should help answer some of the questions you might have. If you’re not sure exactly what type of bet you want to have or don’t know what you should be looking for, we hope you’ll find the answers here.

Don’t forget though, having a little flutter on the horses should be fun and it doesn’t have to be complicated. Sometimes you’re as likely to have a winner by just deciding you like the name or the colours of the jockey!

Here we explore some of the basics to help you understand betting:

Stake

When placing a bet, your stake is the amount of money you are willing to gamble - be it a cautious $1 or a rather more flamboyant $500.

If you're a winner, your winnings (also known as 'returns') are calculated according to your horse's odds.

Odds

In the world of betting, the odds (often referred to as the price) are a way of expressing the perceived probability of a horse winning a race and it's at this value which a bookmaker will lay his bets.

OK - so that's all relatively easy. Here's the more difficult bit. Prices can be odds against, even money or odds on.

Odds against

When the bookmaker offers a return which is more than double the amount staked for a win bet. If your stake is $1, a winning bet at 2/1 (pronounced two-to-one bet) will return you $2 plus your original stake of $1, making a total of $3.

Even money (or Evens)

When the bookmaker offers a return which is double the amount staked on a win bet. If your stake is $1 the bookmaker will return $1 plus your stake, making a total of $2.

Odds on

When the bookmaker offers a return which is less than double the amount staked for a win bet. A successful $1 bet at 1/2 (pronounced two-to-one-on), will return just 50¢ plus your stake, making a total of $1.50. The word 'on' indicates that the odds are reversed.

Long or Sort Odds?

Sometimes, instead of a horse's odds being expressed as a fraction, you might hear that they are simply 'long' or 'short'. This isn't meant to refer to the horse itself - or even the jockey. Instead, odds that are said to be long (e.g. 50/1) point to the fact that a horse is very unlikely to win the race. Conversely, short odds (e.g. 2/1) indicate that a horse has a good chance of winning.

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Betting Types

Below are some of the exotic bet types which allow you to get more bang for you buck. Some First Fours and quaddies can pay upwards of $100k

Standard Quinella

A Standard Quinella, is when you select two runners to place First and Second in any order for the wager to be successful.

Box Quinalla

A Box Quinella allows you to choose more than two selections. You can choose as many runners as you like from the same race, however two of the selections must place First or Second in any order for your wager to be successful.

Standout Quinella

When placing a Standout Quinella wager, you can select as many runners as you like from the same race, however you must nominate the runner you think will place First or Second. For your Standout Quinella wager to be successful, one of your other selections must finish either First or Second to your nominated selection.

Exacta

An Exacta requires that the first two place getters are nominated in order. In the event of a dead heat, there will be as many dividends as there are correct ordered combinations

Trifecta

A Trifecta requires nominating the first three place getters in order. In the event of a dead heat, there will be as many dividends as there are correct ordered combinations

First Four

A First Four requires nominating the first four place getters in correct order. In the event of a dead heat, there will be as many dividends as there are correct ordered combinations

Quaddie

A Quaddie requires nominating the winner of four successive races (usually the last four of the program). In the event of a dead heat, there will be as many dividends as there are correct ordered combinations