An Australian Guide to Horse Racing Betting

Horse racing is one of the most popular pastimes in Australia. The love for the sport has spawned another equally massive horse racing betting industry. Traditionally, bettors would attend races, but today, it’s possible to bet online through different bookmakers’ websites. 

If you’re a horse racing betting fan, here you can find the latest horse racing tips for tomorrow. But is there a way to ensure you always make profitable bets? While there’s no guidebook that can offer such luck, you can boost your horse racing betting by getting as much information as you can. 

This post takes an insightful look at how to bet on horse racing in Australia that includes bet types, and effective ideas to get you started.

Introduction to Different Horse Bet Types 

Before you place bets on horse races, it’s advisable to first learn the options available. You can compare the bets and find the one that best suits your goal. Take a look:

Win Betting

Where you back a specific horse to win and your horse has to cross the finish line first. Also known as Straight Out betting or on the nose.

Place Betting

Where your bet predicts where your horse will finish; first, second or third. In races where there are less than eight horses, there are no dividends on the third position. The odds are lower than on win bets, and you must have done your research before venturing into place betting.

Each-Way

Each-Way is a horse betting combination of Win and Place bets and this is where most new punters start. To win, your horse must either win or place. If the horse wins, you collect the wins for the win and place. If it places correctly, you only collect for the place.

Exacta

An exacta horse racing bettor requires you to pick first and second in the correct finishing order. It is a great betting option if you have strong selections and great ratings.

Quinella

A successful quinella requires you to pick place getters for first and second, in any order.

Trifecta

For a trifecta, you pick the winner, second place getter and third place getter in the correct order. It’s a more difficult betting option, but also offers bigger dividends than the Exacta. This is an option for professional punters who have been in the industry for long.

First 4

If you want the best dividends for your horse racing bet, consider the first 4 where you pick the horses that finish first, second and third.

Duet

A duet is a betting option where you nominate two horses to place first, second or third, though your picks can finish in any order.

Quadrella/ Quaddie

This is a popular horse racing betting option where you nominate winners of four chosen races (last four on the card) at the same track.

Multi Bets/Accumulator/ Parlay Betting

A good bookie allows multi bets where you can combine different individual bets into a single bet. You must win every leg to collect your winnings

As the industry grows more horse racing betting options continue to emerge and you have to constantly update your knowledge. Such options include Running Double, Daily Double, Treble and others.

Guidelines to Start Horse Racing Betting

While horse racing betting is fun, consider that it’s all about the right decisions. There’s no guide to help you always win, but these simple strategies can help you make better decisions:

1. Draw a plan and stick to it: You have to start with a plan, identify your goals for betting and, budget and choose the best betting options. Don’t waver from the plan whatever happens along the way. 
2. Set aside a bank for betting use: Don’t mix your bankroll with your other money. If you have set out a certain amount to use in a month, set it aside in a bank and use the amount only.
3. Choose a horse racing betting strategy.
4. Choose long-term proven selections: As you start, you start your research on horse racing, identify profitable base selections. You can add on these as you continue gaining experience. 
5. Keep records: Don’t lose your betting records because data is critical in horse racing decision making. 
6. Make different bets: To take your horse race betting to the next level, mix up your betting options.
7. Shop the odds as much as you can. 
8. Do your research on every angle of the horse race before placing a bet.

Horse racing betting is exciting and rewarding, but only if you approach it like any other money venture. Do your research, learn and learn some more, discover new betting systems and try them out and always manage your bankroll.