How Racebooks Work
Online racebooks will usually work similarly. To begin with, you need to sign up with a trusted racebook and then fund your account. Signing up is secure and safe, as trusted racebooks use encryption to protect your details. You will usually be able to use a credit card or an online e-wallet such as NETeller or Click2Pay to fund the account, though each racebook differs in the particular payment methods it will accept.
Once you have an account and it’s funded with money, you can start to place bets. Search through your chosen racebook for the races you would like to bet on. Often, odds are only offered on the day of the race, so you may need to wait if you are intending to bet on an upcoming event. Many racebooks list races by racetrack, so you be aware of this and find out the racetrack the race you want to bet on will be run at.
When you have found the race you want to bet on, you will be given a choice of the bets you would like to make. You usually just need to click on the bet type and then choose the horses to bet on. There may be more than one bet type to choose from, so you might wish to try some of these common bets.
The most common bet is on a straight up win, where you simply choose which horse will win the race. Wins are one of the easier bets to make and they do not pay out as well as more difficult to pick bets.
A place bet pays out if the horse you are betting on places within a certain number, usually first or second, though sometimes third and fourth qualify. This pays out very little, as it is much easier to pick a horse that places rather than a winner or the specific places of a number of horses. A bet on a horse finishing first, second or third is called a show in the US and is different to a place bet.
A quinella requires you to pick the two runners that will finish first, but requires no order. This can pay out quite well if chosen correctly and can be a good bet if it looks to be a close race between only two horses.
An exacta is like a quinella, but it requires you to accurately choose the order the two horses will finish in. Hard to pick correctly and pays out accordingly.
A trifecta requires the first, second and third horses to be chosen correctly and a superfecta or First4 bet requires the fourth to be chosen correctly as well. These bets are incredibly difficult to pick successfully in most races, but they pay out tremendously on a win.
There are other forms of racebook betting, but these are the most likely to be offered and the most usual bets to be placed. The specifics can vary between jurisdictions, so be sure to check out exactly what a bet means at the racebook you use before you place the bet.
When you place a bet, the value is deducted from your account. If you win, your winnings will be added to the value of your account. You should be able to withdraw this as long as no restrictions have been placed on your account, such as wagering requirements on bonus money.
Melbourne Cup · Victoria Derby · Caulfield Guineas Day · Epsom Handicap · Crown Oaks
Places to bet
