How To Work Out Horse Racing Bets

For those who place bets on horse racing or look to take advantage of free bets throughout the events, you must understand how these horse racing bets play out and what returns you can make from differing odds. While betting may seem complicated at first, once you understand odds, stake types, and common bet formats, calculating horse racing bets becomes straightforward. This guide explains how horse racing bets work, looking at how you can work out odds and calculate different types of popular bets.

In the UK, horse racing odds are traditionally shown as fractional odds, such as 5/1, 2/1, or 7/2. Fractional odds tell you how much profit you will win compared to your stake. For example, odds of 5/1 mean you win £5 for every £1 you stake. If you place a £10 bet at 5/1, your profit would be £50, and your total return would be £60, which includes your original £10 stake.

Shorter odds, like 2/1 or 1/2, indicate favourites and offer smaller returns, while longer odds, such as 10/1 or 20/1, indicate outsiders with higher potential payouts but a lower chance of winning than favourites.

A single bet is the simplest type of horse racing bet. To work out a single bet, you multiply your stake by the fractional odds and then add your original stake to find your total return. For example, if you bet £5 on a horse at odds of 4/1 and the horse wins, your profit would be £20, and adding your £5 stake means your total return would be £25.

If the horse does not win, you lose your stake.

An each-way bet is effectively two bets in one: one bet for the horse to win and one bet for the horse to place. Your stake is split equally between the win and place parts. If you place a £10 each-way bet, you are actually staking £20 in total, with £10 on the win and £10 on the place.

The place part of the bet is paid at a fraction of the win odds, commonly one-quarter or one-fifth, depending on the race and bookmaker. For example, if a horse is priced at 8/1 and the place terms are one-fifth the odds, the place odds become 8/5. If your horse finishes second or third and does not win, you lose the win portion but still receive winnings from the place bet.

An accumulator, often called an “acca”, combines multiple selections into one bet. All selections must win for the bet to be successful, and these bets are known to be some of the most popular in the sport, making them well-known among those who watch horse racing. To work out the potential return, the odds of each selection are multiplied together, and then multiplied by your stake.

For example, if you place a £10 accumulator on three horses priced at 2/1, 3/1, and 4/1, the combined odds are calculated by converting the fractions to decimals or multiplying the fractional returns step by step. Accumulators offer higher returns but carry greater risk, as a single losing selection can cause the entire bet to lose. As there are multiple odds being placed together in an accumulator bet, it can be difficult to work out how much you can be returned. By using an accumulator bet calculator, you can work out and plan your bets effectively and accurately.

Place terms determine how many horses qualify as a “place” in each-way betting. These terms depend on the number of runners and whether the race is a handicap. Dead heats occur when two or more horses finish level for a placing position. In these cases, bookmakers usually split the stake and the returns accordingly, reducing the overall return.

Working out horse racing bets in the UK becomes much easier once you understand odds, stakes, and bet types. By learning how to calculate win bets, each-way bets, and accumulators, you can clearly see what you stand to win before placing a bet. 

If you are interested in making the most of your bets, you can check out the horse racing tips at Racing TV, which are filled with essential information surrounding upcoming events.