Going to a racecourse for the first time can be incredibly fun, but a little daunting in regards to placing a bet. Firstly learning the basic terminology for a few things will make this all the more easier for you:
The stake is the amount of money that you are willing to bet on a horse. So say for example the racecourse your going to has 10 races in total, and your willing to spend a maximum of £100, you could stake £10 on each race and hopefully you will find a winner in a few of the races.
Obviously you don’t need to bet on every race, and most professional gamblers wont. If your going just for a fun day out though, it can and will be much more fun betting on most of the races.
Each horse will have odds marked against it, these odds indicate the overall probability of that horse winning the race. Of course the horse which has the lowest odds (is most likely to win) will not always win, otherwise this would be incredibly simple to make money from.
The amount calculated that you will win after placing your stake on the odds selected. Prices can be odds against, even money or odds on.
With an odds on bet, if your stake was £10, a winning bet at 4/1 will return £40 + your £10 initial stake back, making you an overall profit of £40.
With an even money bet, if your stake is £10, you will win £10 back + your stake.
An odds on bet is less Read more…