Horse racing betting odds are one the most significant factors in horse racing. Horse racing betting odds state the bookmakers opinion on a specific horse’s chances of winning a race and are also one of the factor determining the bettor’s profit as the payout is the stakes multiplied by the odds.
Horse Racing Betting Odds
The first thing every bettor should do before even trying to solve the racecard, is to get familiar with every horse’s odds, position in the betting forecast and whether that horse is over or short priced. Horse racing betting odds imply for the horses’ chances in the race, which is derived from many factors such as of late form, weights allocated, surface abilities, rivals in the race and more. Horse racing betting odds are actually the numeral manifestation of handicapping combined with the public’s opinion. The more support a contender gets from the bettors, the lower the odds it’ll be dwelling on no matter the real chances of winning the race or the bookmakers betting forecast.
Playing Horse Racing Betting Odds
Experienced bettors know how to play the odds in their favor. When a contender is over priced, meaning it is bearing odds higher than it should, bettors can exploit these odds and bet on that contender to win, ensuring high profit case it does win the race. Another way to exploit high odds is to bet an each way bet which is betting on a contender to either win or place in a race when winning grants the bettor with profit on both bets. In case of placing, the odds are multiplied by 1/4 (1/5 for races with less than 7 runners) in order to form the new odds. If the odds are higher than 5/1, the bettor will profit the bet whereas in lower odds the bettor loses money rather than earn any. Free horse racing betting tips are usually tipped at high odds, so following these tips can be of great value in the long run.
Industry Odds vs. Betfair Odds
Horse racing betting odds are usually the same with every bookmaker or online betting site. However Betfair betting exchange offers higher odds, about 20% higher, than the ones offered by the rest of the sports betting sites. Betfair eliminates the traditional bookmaker which charges commissions on betting, thus being able to offer higher odds to the bettors.