Never bet more than you feel comfortable losing and never chase losses.
Even the pro punter will have long losing runs, you need to accept them and make sure your betting pot of money is large enough to ride them out. Your aim should be to win over the long term.
As Simon’s Tips predominately tip larger price horses losing runs are to be expected even more so, but the reverse is also true so it doesn’t take many winners for to get your money back, you just need to keep faith.
When betting on horse racing you can normally choose to take either an early fixed price or a starting price (SP). An early fixed price is a price offered before the race and to which you are tied to, however most bookies offer best odds guaranteed so if the price drifts (goes larger) so the starting price is greater than the price you took you get the bigger price. If the price shortens so the starting price is less, you get the larger price that you took at the time you placed your bet.
The starting price, is the price of the horse at the time the race commences.
Simon’s Tips recommend that you always take the early price.
You are betting on the horse to win outright at the odds you have taken when placing the bet.
With an each way (ew) bet rather than betting on a horse to win, you’re betting on it to win and finish in the ‘places’.
An each way bet is effectively two bets.
A bet for your horse to win.
A bet for your horse to be placed.
If your horse wins – you win on both sides of the bet, if it is placed, you will lose the “win” part of the bet, but win on the place part of the bet.
The odds that you get for a place bet, depends on the number of runners and if the race is a handicap or not:
|All Races||Number of places||Place terms|
|2 to 4 runners||Win only, no ew betting|
|5 to 7 runners||2 places||1/4 of the odds|
|8+ runners||3 places||1/5 of the odds|
|Handicap races||Number of places||Place terms|
|12 to 15 runners||3 places||1/4 of the odds|
|16+ runners||4 places||1/4 of the odds|
For example, if you have a £5 each way bet at 20-1 on a horse in a 9 runner handicap race, your total stake will be £10.
If the horse wins your return (the money the bookie gives back to you) will be: £5 x 20 = £100 plus your stake of £5 making £105 for the win part of your bet. Plus £5 x 4 (1/5 of 20) = £20 plus your stake of £5 making £25 for the place part of your bet. So Total return will be £105+£25 = £130 that is £120 profit (£130 less £10 staked)
If the horse comes 2nd or 3rd your return will be £5 x 4 (1/5 of 20) = £20 plus your stake of £5 making £25 for the place part of your bet. On the win part of your bet your return is nil. So total return is £25 making your profit £15 (£25 less £10 staked)
If the horse isn’t placed so doesn’t come 1st 2nd or 3rd your return on both parts of your bet is nil and as you staked £10 your loss will be £10
The most popular type of odds you will see are Fractional Odds. For example
Evens, 2-1, 9-2, 10-1 20-1, etc.
Odds displayed as fractions show how much you will win on a bet compared to how much you put on it. The first number in the fraction shows how much you will win if you place the amount shown in the second number.
E.g. If you have back a winner at 10/1 and stake £1, you’ll receive £11 return, which includes your £1 stake giving you a profit of £10.
This works on a ratio basis, so if you place £10 at 10/1, you’ll receive £110 return, which includes your £10 stake giving you a profit of £100.
Fractional odds can become confusing when you start betting as sometimes it can take a few calculations to work out what the best price is.
With decimal odds have it’s easier of a beginner to tell which is the biggest price and you just go for the biggest number. For the list above they would be displayed in decimal format as
2.0, 3.0, 5.5, 11.0, 21.0
Decimal odds includes your stake, it is what your exact return will be if you bet £1. So if you placed a £1 bet at odds of 5.5 your return would be £5.50 and your profit £4.50 after the £1 stake has been deducted.
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