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Beginner's Guide To Betting
So you are new to racing and betting and a bit confused as to all these betting terms.
Don't worry I was too at one stage.
Surprisingly your lack of knowledge may be an advantage! By following the advice on this site you will pick up a lot of good habits from the start.
There are many who have been betting on the wrong things for too long to change their ways.
Ask any driving instructor and I am sure he will tell you that the hardest pupils to teach are those who think they know how to drive already!
The odds of a bet tell you how much you would win if you placed a winning bet on the horse.
i.e. winnings = stake * odds
This is called the return.
Return = stake * (1 + odds)
Odds on simply means that the amount you win will be less than your total stake should your horse win. This situation often arises if one particular horse in the race is judged to be greatly superior to the rest. It is also very common in soccer betting.
The SP or Starting Price is the odds available on a horse at the start of a race.
An accumulator or multiple bet is a bet on two or more horses winning their races.
Now what this bet says to the bookmaker is ....I want a £10 win bet on Horse A at 3/1 and if this wins then I want to bet all the money I get back including my original stake on Horse B at 2/1.
Remember if one horse looses so do you. However assuming you are lucky your winning are calculated as below.
Return = Stake*( 1 + Odds A) * (1 + Odds B)
i.e. Return = £10 * (1+3) * (1+2) = £10 * 4 * 3 = £120
Subtracting your original stake of £10 you have won £110
Trebles and fourfolds work exactly the same way except that instead of two horses being required to win you need 3 or 4. Returns are worked out in a similar fashion i.e. for a treble:
Return = Stake*( 1 + Odds A) * (1 + Odds B) * (1 + Odds C)
IMPORTANT You may think that this seems a good way to make big profits from small stakes. This is the trap that most mug punters fall into. It is exactly the way the bookmakers would like you to think!
For reasons that I do not wish to fully explain here you are better off sticking to single bets only. As a general rule using doubles and trebles etc. gives the bookmaker an increased mathematical advantage.
An each way bet is really two separate bets. The first bet is a standard win bet. The second is a bet that your selection will get a place.
N.B The above table will be correct on most occasions. Sometimes however individual bookmakers will offer special promotions to attract more business. For example with the Grand National if you shop around you may see 1/4 odds paid out for up to five places instead of the standard four.
Remember this is two bets. £10 win @ 20/1 and £10 place @20/1 * place factor.
Total stake = £20.
= £10 * (1 + 4) = £50
Now let's work out what would happen if Red Rum won the race at 20/1.