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Horse race betting guide, fixed odds and more

Welcome to the Lets Compare Bets horse racing fixed odds betting guide. To make this horse race betting guide easier to use look below for a quick reference to the definitions of horse racing types of bets.

Online fixed odds bookmakers trends

Horse race betting types of bet

Win singles betting

Each way singles betting

Doubles betting

Trebles betting

Round Robin betting

Trixie betting

Patent betting

Yankee betting

Flag betting

Canadian betting

Super yankee betting

Heinz betting

Goliath betting

Any to come betting

Placepot betting

Jackpot betting

Scoop6 betting

Tricast betting

Permutations betting

Best type of horse race betting

Horse race betting has been the bed rock of the UK sportsbook betting market for years.  Since betting bookmakers have moved online the UK betting market has opened up dramatically.  In the UK the two main types of horse race betting are flat racing and national hunt racing. National hunt racing involves racing over hurdles.

Horse race betting types explained

With 59 race courses in the UK and with the advent of online fixed odds betting there are many choices for someone betting on horse races. When Australian and US horse races are added the number of horse races really add up. There are a selection of horse race betting types available which adds an extra dimension to horse race betting.

Some of the best known events in the UK horse racing calendar include Royal Ascot, The Epsom Derby, Cheltenham, the Champion Hurdle, L’Arc De Triomph, and the Goodwood Festival.  Lets not forget the mother of hunt races, the Grand National. Some well known flat racing events are the 1,000 Guineas, 2,000 Guineas, Derby, Oaks, and St. Ledger.

In particular we have taken a look at Royal Ascot betting and Melbourne Cup betting.

How have online fixed odds bookmakers changed all this?

Since fixed odds bookmakers have moved online the number of horse racing betting types have increased. The betting types offered by betting bookmakers online includes all the normall win market, each way betting and lots of accumulators. Betting bookmakers have really pushed the boundaries of horse race betting online by making betting available on ‘live’ races or ‘in running’ races.

Horse race betting types of bet?

There are many ways of betting on horse races, besides a straight ‘win’ and ‘each way’ bets. Betting bookmakers offer some really interesting types of horse race bets. Horse race bets that involve making multiple selections are most popular. Some of the most common horse racing multiple bets include the Scoop 6…..or Trixie betting, Patent betting, Lucky 63 betting, Yankee betting, Placepot betting and Quadpot betting. A rule of thumb is that the more selections in a multiple bet the larger the potential pay out. As such, a small amount of money can be fed into an horse race multiple bet to gain a very big win. That’s why every year newspapers report on people who have won big from picking the perfect horse race accumulator bet. When it comes to choosing a betting bookmaker to use for multiple bets always compare betting odds first. There are usually generous sign up promotions and regular bonuses for existing customers.

What is win singles betting?

Win singles horse race betting has had the broadest appeal owing to its simplicity. The betting bookmaker makes a prediction on which horse will win. The punter needs to place a stake for one horse to win. If the horse wins the stake is returned and the betting bookmaker hands over the winnings.

What are each way singles?

Each way singles horse race betting is basically an insurance against horse not winning. Each way betting is sometimes referred to as ‘hedging your bets’. Although, this is not the only way to hedge against a loss. This gives the punter a profit even if the horse doesn’t win. Let us use a horse called Octogon running at the Chamption Hurdle as an example. The betting bookmaker offers odds of 12/1. A £5 each way bet goes down. What happens is the stake now totals £10 with £5 on Octogon winning and £5 on the horse getting a place (placed 1st, 2nd or 3rd). Here is what happens if Octogon wins or is placed (1st, 2nd or 3rd). If Octogon wins the betting bookmakers pays out £60 and returns the original stake too. That’s the £5 stake multiplied by 12 (using odds of 12/1) plus the original £5 stake. The betting bookmaker offers each way place terms to the punter. For simplicity lets say the betting bookmaker offers one quarter of the odds for the win singles bet for a first, second or third place. Remember the original stake is split between the win bet and the each way bet. The £5 staked on a first, second or third place would return £15 plus the original stake of £5, giving a total of £20. That’s the £5 stake multiplied by the odds dived by 4 with the oringal stake added back (5 x 3 + 5). The great thing is if the horse wins both the win bet and each way bet pays out returning £85 to the punter. If Octogon came either second or third the win part of this horse race bet would lose but the each way bet covers the loss because it pays out £15, which is all down to the place bet. The odds and terms offered by betting bookmakers for each way singles bets will change from race to race. Again it’s wise to compare betting odds before placing a horse race bet.

It is worth mentioning that Betfair works out each way odds differently to traditional betting bookmakers. Instead of having two separate bets there is one bet for the horse getting placed (1st, 2nd or 3rd). The same amount of winnings is returned.

What is a Multiple betting?

Multiple bets link more than one outcome into a single bet. Multiple bets are for bet on 2 or 3 events, which can be completely unrelated. The winnings from multiple bets are calculated in the same way as that from accumulator bets: shown below. You may want to experiment with our online multiple betting calculator to see what kind of winnings are possible.

What is a Doubles Betting?

Doubles betting is betting on two horses. The winnings from the first form the stake of the second. Both bets have to win for the doubles bet to pay out.

What is a Treble Betting?

A treble works the same as a double but with three horses rather than two.

What is a accumulator betting?

Accumulator bets should not be confused with multiple betting. An accumulator horse bet involves backing four or more horses in different races on one day. Called an accumulator bet because the winnings accumulate. After each correct selection the winings form the stake of the next selection. Due to this multiple bets can win really big. It is the lottery style winnings from multiple bets that makes them popular. Let’s see how the winnings mount up. Choosing the winning horses in 4 separate races in one day at odds of 8/1 using a stake of £2 would generate winnings like this,
£2 X 8 = £16
£16 X 8 = £128
£128 X 8 = £1024
£1024 X 8 = £8192

The next section explains each type of multiple bet. You may want to experiment with our online multiple betting calculator to see what kind of winnings are possible.

What is Round Robin betting?

A Round Robin uses three different types of bets on 3 different horse races. That’s 3 doubles bets on the first race, 1 treble bet on the second and 6 single stake about bets on the third.

The single stakes About Bet uses a double stake. A single stakes About Bet using a stake of £10 costs double, at £20.

What is Trixie betting?

Trixie betting is where you select three separate horses and make a total of four bets. To make a trixie bet you take three doubles.  We’ll call our horses A, B, C.  Original I know.  The doubles will be A+B, A+C, B+C and one treble A, B, and C. To calculate your stake you take the unit stake and multiply by the number of bets to work out the total stake.

What is a patent betting?

Patent betting is the same as trixie betting in that you have three selections and a total of four bets.  However, with a patent bet you add three single bets. Seven bets in total and 14 for each way patent betting. Ladbrokes has a very good patent betting calulator (located in the bottom left hand section called ‘more from us’) and if you go on to place a bet they will match that bet up to a certain amount, thus increasing your winnings or reducing your loses.

What is Yankee betting?

Yankee betting takes trixie betting a stage further.  This time you get four selections in one four timer, four trebles and six doubles.

What is Flag betting?

This bet consists of a Yankee plus four selections covered in single stakes about bets. A total of 15 bets.  Sometimes called a Lucky 15 bet.

What is Canadian betting?

Often referred to as a super Yankee bet. A total of 26 bets. The bets are based on 5 selections that have to be in different events. It is built up of 10 doubles, 10 trebles, 5 four fold bets, and a five fold accumulator. At least two selections must be positive for a profitable outcome.

What is Super Yankee betting?

A Super Yankee is also the same as Canadian betting.

What is Heinz betting?

A play on words. With Heinz betting you get 57 bets in total by linking up a six selection in a six timer, six five timers, fifteen four-timers, twenty trebles and fifteen doubles.

What is Goliath betting?

Enter the grand daddy of multiple betting, the Goliath. Eight selections combined: that is 247 bets with 8 selections that have to be in different events. Consisting of 28 doubles, 56 trebles, 70 fourfolds, 56 fivefolds, 28 sixfolds, 8 sevenfolds and one accumulator. A minimum of two selections have to win for you to receive a return.

Other types of betting?

What is any to come betting?

There can be series of two or more bets. If the first bets is successful the profit is banked, and a set sum is carried into another bet, or bets.

What is Lucky betting?

Lucky 15 bet

A Lucky 15 bet is like flag betting; a variation on Yankee betting.

Lucky 31 bet

A Lucky 31 is like Canadian betting.  You have a total of 31 bets by adding five singles. If you have one winner it is paid at double the odds. If you stake 1 GBP your Lucky 31 bet stake would be 31 GBP.

Lucky 63

A Lucky 63 is a combination of 63 bets. Six horses used to make six singles, fifteen doubles, twenty trebles, a fifteen times four horse accumulator, a six times five horse accumulator, and lastly a six horse accumulator.

Returns on Lucky 63 betting are paid with a bonus of 20% that is added to the total returns. If you want the bonus to apply, all selections must win. The win part of the Lucky 15 bet only pays out for each way bets. A GBP 1 unit stake Lucky 63 would cost GBP 63.

What is Computer Straight Forecast (CSF) betting?

Computer Straight Forecast betting is a horse racing bet that requires you to predict the first and second horse in the correct order. You do not pay tax on it. The dividend, as the name implies, is worked out by computer.

What is Placepot betting?

A popular bet in which you need to select a horse in each race to be placed. Whether a horse needs to win the race, come in the first two, three or four is calculated as follows:
Races of 2-4 – needs to win
Races of 5-7 – 1-2
Races of 8 or more – 1-2-3
Handicap races of 12-15 runners – 1-2-3
Handicap races of 16 or more runners – 1-2-3-4

What is Jackpot betting?

A Jackpot is a pool bet like the Placepot bet where the winner in each race has to be selected.

What is Scoop6 betting?

Scoop6 betting is one of Tote Sport’s main features.  Only for Saturdays racing you predict the winner of six major races for the chance of winning a bumper pay out.

What is Tricast betting?

In the correct order the winner must predict the first three horse home.

What is permutations betting?

The idea is to increase the chances of winning by selecting several horses in one type of bet. We’ll use our trusted horse A, B, C and D. These horses are permed in a doubles only bet; A & B, A & C, A & D, B & C, B & D, C & D to give six doubles.

The permutations bet should appear on the betting coupon like “£1/$1 Doubles times 6 equals £6/$6”. This type of permutations betting requires a smaller stake because unlike a patent betting, Lucky 15 betting, or Yankee betting, you have the advantage of requiring a smaller stake as you have eliminated the singles, trebles, and accumulator option.

As doubles have been used, if 3 or more of your selections win the winnings are worked out as doubles only. A 2 GBP stake would cost 12 GBP. A permutation bet using ten horses with a 2 GBP stake would cost 20 GBP.

What is the best type of horse racing fixed odds bet?

Well with all these combinations of horses our racing predictions could become more like a lottery. To increase our chances of winning selections we recommend easing straight win betting, each way betting or a permutation bet like the one above. This permutation bet is a permutation 4 – 6 horses using a doubles only bet.

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