Betting

[The Moose]

As PH is the font of all knowledge and there's something I'm currently struggling with, I wonder if anyone would please be kind enough to help me out.

I've never been interested in betting on horses, but I've just been given a little tip...but I have no understanding of how it works - obviously I understand betting etc - just not the terminology.

Would someone mind explaining if they've got a couple of mins.

To win/to place/each way etc etc etc are all terms I've heard of but don't understand! (where's the wet behind the ears smilie!!)

Cheers

The Moose

[Doofus]

To win = to win (If you struggle with this translation, then your problems are deeper than not understanding betting terms)
To place = to not win, but to finish (usually second or third, I think)
Each way = either one or the other of the above

[The Moose]

Obviously I understand to win!! Lol

So I imagine the odds will be longest to win, followed by to place, followed by each way?

Are those the three main terms etc??

Cheers

The Moose

[Council Baby]

Doofus said:

To win = to win (If you struggle with this translation, then your problems are deeper than not understanding betting terms)
To place = to not win, but to finish (usually second or third, I think)
Each way = either one or the other of the above

To win.. to cross the line 1st
To Place... to come in the 1st 2 if there are 2-7 horses, 1st 3 if there are 8-15 horses, 1st 4 if there are 16+ horses. If there are under 16 horses most bookies pay 1/5th of the SP (starting price) if 16 or over it's 1/4. This differs at large meets with bookies plugging for business but is the standard business model.
Each way - win or place as above. Will cost you double the staked bet and be paid as the stake to win and the stake to place as per the above.

[skilly1]

Any top tips for the Gold Cup

[10 Pence Short]

skilly1 said:

Any top tips for the Gold Cup

Brasso.

[Ja Psi]

The Moose said:

Obviously I understand to win!! Lol

So I imagine the odds will be longest to win, followed by to place, followed by each way?

Are those the three main terms etc??

Cheers

The Moose

Well yes, but it doesn't quite work like that. you only get odds on the horses to win.

Lets say it's 8-1 and your bet is £1

So place bet To Win you get 8-1 = £8 plus your £1 stake back

Place bet each way = £2 and it wins you get 8-1 + half of the odds 4-1 = £12 + £1 back

Place bet Each way = £2 and it comes 2nd/3rd/4th (I think 4th counts, maybe not every betting shop) you get half of the odds, so in this case 4-1 = £4 plus your £1 back

Place bet to Place and I have no idea, not heard of it

That's how sky bet works anyway.

BTW What you got a tip on?? come on share the joy

[Council Baby]

skilly1 said:

Any top tips for the Gold Cup

I gave up gambling in May 2009 it took up too much of my bloody time... I don't even look anymore. What I can tell you is never listen to tips, either treat it as fun and pick your own horses for a giggle, or take it seriously, study trends and throw a wedge at it

Kempes or Tidal Bay as an outsider

[Council Baby]

Ja Psi said:

Well yes, but it doesn't quite work like that. you only get odds on the horses to win.

Lets say it's 8-1 and your bet is £1

So place bet To Win you get 8-1 = £8 plus your £1 stake back

Place bet each way = £2 and it wins you get 8-1 + half of the odds 4-1 = £12 + £1 back

Place bet Each way = £2 and it comes 2nd/3rd/4th (I think 4th counts, maybe not every betting shop) you get half of the odds, so in this case 4-1 = £4 plus your £1 back

Place bet to Place and I have no idea, not heard of it

That's how sky bet works anyway.

BTW What you got a tip on?? come on share the joy

WRONG - see my above post Al... it's NEVER 1/2 the odds but you do get your stakes back on the sections of the bets that win/place

[Ja Psi]

Council Baby said:

Ja Psi said:

Well yes, but it doesn't quite work like that. you only get odds on the horses to win.

Lets say it's 8-1 and your bet is £1

So place bet To Win you get 8-1 = £8 plus your £1 stake back

Place bet each way = £2 and it wins you get 8-1 + half of the odds 4-1 = £12 + £1 back

Place bet Each way = £2 and it comes 2nd/3rd/4th (I think 4th counts, maybe not every betting shop) you get half of the odds, so in this case 4-1 = £4 plus your £1 back

Place bet to Place and I have no idea, not heard of it

That's how sky bet works anyway.

BTW What you got a tip on?? come on share the joy

WRONG - see my above post Al... it's NEVER 1/2 the odds but you do get your stakes back on the sections of the bets that win/place

Read the end of my post and take a look at sky bet

ETA: in fact, just put an each way bet on a 3 horse race, odds 12-1, EW win I get £26 back lmao, I actually don't think I can lose, I'll be back later to tell you.

Actually scratch that, I think I've just fked up

Don't gamble kids.

Edited by Ja Psi on Friday 11th March 15:05

[Tyngwndwn]

And don't forget to pay the tax.

Because if you DO win it will be a big lump out of your winnings.

[Council Baby]

Tyngwndwn said:

And don't forget to pay the tax.

Because if you DO win it will be a big lump out of your winnings.

They removed tax on horseracing several years ago - it's tax free now up to any amount

sky bet said:

An Each Way bet is made up of 2 parts: the ‘Win' and the ‘Place'.

Each part is an equal stake, e.g. a £1 Each Way bet will have £1 on the ‘Win' and £1 on the ‘Place' (a total stake of £2).

The ‘Win' part of your bet is on your selection to win the event, and the ‘Place' part is on your selection to finish either first or in one of the pre-determined places.

If your selection wins, both the ‘Win' and ‘Place' parts of your bet will pay out. But if your selection only places, you will lose the ‘Win' part of your bet (and lose that part of the stake) but get paid out on the ‘Place'.

The odds for the ‘Place' are given as a fraction of the odds for the ‘Win' and will be displayed to you when you place your bet.

Each-Way betting is most common in horse and greyhound racing, and is also usually available in other sports e.g. Premiership outright winner.

For Horse and Greyhound Racing, the ‘Place' part of Each Way bets will be given the following Place terms:

Non-Handicap Races

2 - 4 Runners Win Only
5 - 7 Runners 1/4 the Odds 1, 2
8 or more Runners 1/5 the Odds 1, 2, 3

Handicap Races

2 - 4 Runners Win Only
5 - 7 Runners 1/4 the Odds 1, 2
8 - 11 Runners 1/5 the Odds 1, 2, 3
12 - 15 Runners 1/4 the Odds 1, 2, 3
16 or more Runners 1/4 the Odds 1, 2, 3, 4
Each-Way bets are governed by our S.P. place betting terms. This means that the place terms (1/4, 1/5 and number of places paid) will be determined by the number of horses coming 'under starter's orders' and not by the number of declared runners when the price was taken.

Each bookie differs mate, online offers better but never 1/2 odds... the only time it comes close is in a dead heat when they pay 1/2 the stake at full odds...

[Council Baby]

Ja Psi said:

Read the end of my post and take a look at sky bet

ETA: in fact, just put an each way bet on a 3 horse race, odds 12-1, EW win I get £26 back lmao, I actually don't think I can lose, I'll be back later to tell you.

Actually scratch that, I think I've just fked up

Don't gamble kids.

Edited by Ja Psi on Friday 11th March 15:05

[Ja Psi]

Council Baby said:

Ja Psi said:

Read the end of my post and take a look at sky bet

ETA: in fact, just put an each way bet on a 3 horse race, odds 12-1, EW win I get £26 back lmao, I actually don't think I can lose, I'll be back later to tell you.

Actually scratch that, I think I've just fked up

Don't gamble kids.

Edited by Ja Psi on Friday 11th March 15:05

[lazyitus]

skilly1 said:

Any top tips for the Gold Cup

Yes, it's a must. Normally on August Bank Holiday at Oulton Park every year.

[bigTee]

10 Pence Short said:

Brasso.

[RemainAllHoof]

Ja Psi said:

Don't gamble kids.

Indeed. Social Services will come down on you like a tonne of bricks.

[twiglove]

PM me with your tip and I will let you know if it is any good

[B.J.W]

skilly1 said:

Any top tips for the Gold Cup

Yes, try and arrive early - it gets very busy by lunchtime.