Horse Race Betting Odds explained, Beginner’s guide to master the decimal odds format using W88 Sportsbook examples & get 3 Expert tips for smarter predictions.
Horse racing is one of the best sports to wager on for entertainment and good payouts. These horse races are usually found in virtual sportsbooks like the ones offered by W88. If you wish to get into horse race betting then there are certain aspects of betting on horse races you should know about with the major one being the betting odds. In this article, we will give you horse race betting odds explained with W88 Sportsbook examples, so read on.
Horse Race betting odds explained
To understand horse race betting odds explained with W88 examples, it is important that you first understand how does betting odds work in sportsbooks. Betting odds is one of the most important aspects of sports betting as it helps bettors not only understand which team or player is more likely to win in sportsbooks but also about how much potential payouts they could receive on winning bets.
So, how do odds work in horse racing? Well, they work just like normal betting odds where you can determine which horse is more likely to win and based on the stakes can also know how much payout you would receive if your bet wins. Betting odds thus are important for sports betting but it is important to note that there are different formats of betting odds which the 3 most common ones being:
Decimal Format: This is the most used format and in Asian markets for sports betting you will commonly see the decimal betting odds in sportsbooks. These odds are easy to wager on and to know how do odds work in horse racing in the decimal format with examples read the horse race betting odds explained with W88 examples below.
Moneyline: Moneyline odds are commonly found in foreign sportsbooks wherein you you know how much to bet to win a certain amount based on the negative and positive markings. For examples, if the moneyline odds -100, then this means that you must bet ₹100 and if they are +100, then it means you will win ₹100.
Fractional: Fractional odds are simple to understand as they are written in fractions but are not very common anymore. For instance, if the odds of 100/300, then this means that you must wager ₹100 to win ₹300 as potential payout returns if your bet wins the horse racing match.
How do Odds work in Horse Racing – W88 Examples
In the next section of this horse race betting odds explained article, let us take a look at the simple examples from W88 Sportsbook to understand how do odds work in horse racing. For this, we have used a virtual match example between two horses to determine who will be the winner of the race. Here, the decimal odds format is shown as it is famously used in the Asian betting markets online.
The Decimal odds are simple to understand and use as it uses an easy formula which is Betting Odds x Betting Stakes = Potential Payout Returns. Let us apply this formula to the match example in the table below to break down horse race betting odds explained with the examples.
Wager on Horse 1 win
Wager on Horse 2 win
Betting odds: 4.50
Betting odds: 41.00
Betting stake: ₹100
Betting stake: ₹100
Potential Payout: ₹450
Potential Payout: ₹4,100
As you can see in the table, the betting odds are multiplied with the betting stakes to provide potential payout returns. Here, you will also notice another nature of the decimal format, wherein higher odds provide more payout than lower odds thanks to the formula used. This is because higher odds come with more odds to defy wherein lower odds have fewer odds to defy. Understanding this can impact the betting decisions you make on horse race bets in sportsbooks and so it is an important part of this horse race betting odds explained article.
3 Winning Tips to Enhance bets on Horse Race odds
In the final section of this article, let us leave you with 3 winning tips that can help you enhance the way you bet in sportsbooks. This section contains pro betting tips from experts to help you make accurate betting decisions on horse racing matches and also to profit using reasonable bankroll management hacks.
Make use of previous data: The first thing you should do is check the scoreboards of the previous winning horses. These are helpful to understand the strength differences between the horses so that you make the right betting decisions in sportsbooks.
Bet more on lower odds: Next, it is important that you wager more on lower betting odds than higher odds because lower odds are known to have fewer odds to defy making these betting options easier to win than the others.
Do not wager back to back: Lastly, it is best to avoid betting back to back in the sportsbooks since these can help you lose your bankroll balance quickly. Instead, using betting systems or patterns that lets you wager in intervals so that you do not go overboard with betting.
Conclusion
This was all about Horse Race Betting Odds Explained with the W88 Sportsbook examples for beginners. Horse race odds work in sportsbook normally with the Decimal format being extremely famous. Understanding how it works can help you understand horse race betting online easily. So, join the W88 website today and claim a 200% up to ₹15,000 on sportsbook products to enjoy horse race betting today. For more such explanations, betting tutorial guides, and strategies to win big, keep visiting the W88indi website.
