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Different methods of betting on horse races

The three most common types of betting on horse races are Standard, Spread and betting on the Tote.

Standard Betting

Most punters love and know this type of betting. Standard betting has a long history with horse betting and races. It has been around for a long time already. The bookmaker is the go-to person to place this type of bet because the bookmaker quotes the odds on his own board for each of the horses. One selects the horse that one wishes to bet on after checking if the odds are indeed agreeable. A ticket will be given to the bettor showing the amount he or she bets as well as the odds and the amount of prize or money he or she stands a chance to win.

The good advantage of standard betting is in knowing where one stands. Knowing the odds would tell you how much you can lose and how much you can also win. In standard betting the odds cannot be changed once the bet has been placed.

In standard betting one can place a bet at the starting price on the phone via a bookie, in betting shops or online via the internet. Starting price means that the odds will be set at the start of the race which means that when placing the bet one doesn't know the odds at which the bet was struck.

Spread Betting

This type of betting has become more popular and is more similar to the buying and selling of shares on the stock market. The best way to understand spread betting is to observe the bets that are offered for this method. a. The Favorites Index b. The Jockey Index

a. The Favorites Index. Betting on the favorite's index is betting on favorites that most of the people think will win at that particular race or meeting. Favorites index bets are points awarded where the horses finish the race. The winning favorite will be able to pick up twenty five points, the favorite that places in second is awarded ten points and a favorite finishing third will be given five points.

b. The Jockey Index. This index works basically just like the favorites index. The companies for the spread betting will also quote a spread for the jockey index just like with the favorites index. The bettor needs to make a decision of which jockey will prevail in that meeting and who among the jockeys won't have a good day.

Tote Betting The third common type of horse racing betting is the Tote betting. All the bets are pooled. The costs for pooling as well as the contribution of the tote to racing will be deducted from the total amount of the bets. The dividend is calculated by dividing the amount remaining by the number of the units winning.