The one great aspect of betting on Australian horse racing is the many different bet types offered by Australian online bookmakers to punters on a daily basis. There is certainly something for everyone whether it is the traditional win only bet or a jockey challenge novelty bet.
Australian Horse Racing Bet Types:
Win only or a Straight Out bet requires your selection to win the race in order for you to receive a dividend.
A Place only wager requires your selection to run in the first three placings in order for you to receive a dividend.
However, there are exceptions when betting on small field sizes.
If there are less than 5 runners there is only a place dividend for the winner.
If there are 5 to 7 runners in a field then the first 2 placings will receive a dividend.
Fields of 8 or more runners pay a dividend on all 3 placegetters.
All Up Bet:
All Up Betting is a horseracing wager that you place on a horse or horses to either win or place in more than one race.
Lets say that you like two horses running at Flemington races on Saturday. You can place an all up bet where any and all winnings from your first selection will automatically go onto your second selection.
This can result in a large payout rather than just betting on both horses with one simple win or even an eachway bet.
The Eachway Bet is when you place a wager on your horse to both win and run a place. Eachway betting is usually reserved for horses at double figure odds and the punter wants to at the very least, recoup some of his losses should the horse just fall short in its attempt to win.
A Quinella bet is a wager that you take betting on two horses in a race to finish first and second. The finishing order does not matter so long as the horses you nominate run first and second.
There are many variations to this exotic bet type with many punters taking standout selections coupled with multiple runners or you can simply box three or more runners in an attempt to get the quinella. The more standout selections you have and the more horses you include in your boxed quinella then the more expensive it is going to be to place your wager.
The Exacta bet type is very similar to the quinella bet with the only difference being that you are nominating which two horses will finish first and second in correct order. As is the case with quinella betting, you can have multiple standout selections and boxed runners to increase your chances of success.
Any 2 or Duet Bet:
The Any2 bet is a relatively new bet to Australian punters. It is very popular in Hong Kong but is a little slow to take off here in Australia. The Duet is similar to the quinella and exacta bets we place on horse racing with the exception being that you only need your selections to run in the first three placings. They do not have to finish first and second as is the case with the quinella and exacta. First and third or second and third will see you collect a dividend.
The Trifecta Bet type is one of the most popular exotic forms of betting. The chance to win a large sum of money for a minimal outlay will see many punters invest money on a trifecta.
The trifecta bet type requires you to select the first three placegetters in correct order. As with many forms of exotic betting, you can take standout selections or box several runners to increase your chances of winning.
Pick 4 or First 4 Bet:
Another exotic betting product that can see the punter win a handsome dividend. You need to pick the first 4 runners in finishing order on selected races to win a First 4 dividend.
The Daily Double and the Extra Double are bet types that require you to select the winners of two predetermined races at any one meeting.
You do have the advantage of picking as many runners in each leg that you like but again, the more selections you make the bigger the cost. Obviously, if you have invested a large sum on taking many selections in each leg then the chances of winning money if two well fancied runners salute the judge first diminishes.
An exotic bet type that requires you to select the winner of three predetermined races. This bet type can pay handsomely for a very small outlay. Especially nowadays with many online bookmakers offering percentage betting.
The Quadrella bet or Quaddie is the same bet as the treble but obviously it requires you to pick the winner of 4 not 3 predetermined races. Again, it can pay very handsomely with $50,000 quaddie payouts very common on Saturday race meetings.
Flexi betting allows all small punters to take “big” quaddies.
Online bookmakers have introduced many novelty bets for punters. One example of a Novelty Bet is the Jockey Challenge bet type. Here you bet on a jockey to be the leading rider at a meeting. The jockeys are awarded points on a 3-2-1 basis for a first place, second place and third place ride.
This is a “fun” bet for those who want to watch the races at home and just want to have the one bet for the day. It still gives you an interest all day without having to outlay anymore money on each race.