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Eight rules to understand when betting on horse racing

Eight rules to understand when betting on horse racing

Each sports bookie that offers horse racing wants punters to follow certain rules. There is not one single rule when betting on horse races but there are a number of essential rules that you should always keep in mind. These rules can be general rules of betting to game rules or bonus rules or any other rule like payout limits that can differ for certain tracks and bet types that you should keep in mind when placing your bet on racing.

Here are eight rules to understand when betting on horse racing at the bookies

1. Horse Racing Pay-Out Limits

Horse Racing Pay-Out Limits

In order to protect themselves from bank-busting pay-outs, the majority of Aussie bookies impose strict win limits on horse racing.  These can vary widely from bookmaker to bookmaker, so make sure you check the terms and conditions when you are placing a bet. Most betting companies have different pay-out limits for metropolitan and non-metropolitan tracks. Pay-out limits can vary for multi bets and exotic bets too, so make sure to do your homework. To know the more on pay-out limits for horse racing you need to check at the bookie site under help, withdrawal or betting rules section.

2. Horse Racing Dividend Limits

Horse Racing Dividend Limits

If you are a punter that prefers big prices, then do your research as certain bookies impose dividend limits on horse racing bets. These can vary between limits for win and place bets, as well as multis. Make sure to check out the terms and conditions of your chosen bookmaker before you have a bet.

3. Horse Racing Dead Heat Rules

Sometimes in racing two (or maybe even three or four) horses can pass the post at the exact same time. When this happens it is known as a dead heat, and when this occurs you won’t win as much. When there is a dead heat between two horses in racing both are deemed to have won, but the catch is that your original stake is halved. If three horses are involved, then you will receive a third of what you originally would have won. This rule stands for place and win bets but may vary from bookie to bookie, so make sure to check the terms and conditions. Like at bet365 in the event of a dead-heat, bets will be paid at the face value of the total payout, including stake, divided by the number of selections that have dead-heated for that placing.

In the event of a dead-heat for Place betting the payout will be calculated by multiplying the face value by the number of remaining places divided by the number of selections that dead-heated. For bets involving TAB dividends in their calculation, dividends advised by the TAB’s will apply.

4. Win/Place/Each Way bets

The most simple wager types when betting on horse racing are win, place and each-way bets. These wagers involve picking a horse and betting on it to either win or place (or both with each way). In races with less than 5 runners only win bets can be placed. Races with 5-7 runners mean that a horse must finish in the first two for place/each-way bets, and races with 8-15 runners require your selection to finish in the first three. For bigger fields in handicaps only, bookmakers payout on the first four homes. Fixed odds can be taken, or else punters can choose to be paid at SP (starting price).

5. Top/Best Fluc Bet Payouts

If you wait until half an hour before the race your selection is running in starts, you can place a Top Fluc or Best Fluc bet. The same rules apply as for fixed odds win/place/each-way bets, but if you win you will get paid at the top official on-course bookie fluctuation as determined by the Bookmakers Pricing Service (BPS). The Win part of your wager will be paid at the best official Bookmakers’ price. For Win/Place bets, the place portion will be paid at the Tote Place dividend declared in the state in which the race is run.

6. Betting Exotic Wagers

When you combine a number of horses in a wager for a race or a group of races it is known as an exotic bet. Different exotic bet types include exactas, trifectas, quaddies, quinellas, first four and big six wagers. Some bookies even offer punters the choice of placing exotic multi bets across different meetings. Daily doubles, Top Trebles, and All Up Accumulators are all considered exotic multis, and if you manage to land one of those bets you will usually be very well rewarded. Y

7. The ground conditions

Check before you place a bet is what the ground conditions are. Some horses are best when the surface is dry and fast, whereas others love it when the mud is flying. There is no point backing a mud lover when conditions are quick, and the same applies in reverse. Sometimes when ground conditions change during a meeting value can be found, so always keep abreast of weather conditions if you are going to have a bet.

8. The form and record of jockeys

Another good indicator of what is expected of a horse on race day is the form and record of jockeys and trainers. Some handlers and pilots have excellent records at certain tracks and it can pay to follow those jockeys and trainers. Like jockey Damian Lane is usually worth following at Flemington racetrack. He has had 108 rides there in the last 12 months, yielding 14 wins (12.96%) and 34 places (44.44%). Other jockeys and trainers do well at other tracks, so if you want to find winners then always make sure to check jockey and trainer records for wherever you place your wager.

Finally, as a new punter, it can be very intimidating when you start betting on horse racing. There are many online bookies and bet types to choose from you need to understand exactly what each wager type is, find the most common bet types available for horse racing in Australia. As odds can vary massively between different bookies for horse racing, especially when it comes to fixed odds. Some bookmakers run tighter margins than others, so find the one for the best value. It really can make a huge difference to your returns and when you do pick a winner you want to maximize your winnings. So, before you place your wager make sure to do your research and find the best price possible and read the rules of the bookies.

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