How To Calculate Your Potential Winnings
VideoJug presents a rundown of how much you can win with some of the most popular horse racing bets, and help you calculate your potential winnings.
Step 1: A bet to win
A win bet or bet on the nose is the most straightforward and simple bet you can make. You simply back a horse to win. If it comes first you collect. If it doesn't you loose your stake.
Step 2: On the nose winnings
To calculate your winnings simply multiply your original stake by the odds. For example if a £2 bet is placed on a horse with odds of 8-1 the £2 betting stake is multiplied by 8 plus you get your stake back. So the total you will receive if your horse romps home first is £2 multiplied by 8 =£16 plus the £2 stake which leaves you with winnings of £18.
Step 3: An Each Way bet
If you back a horse each way, then it doesn't need to win for you to collect money because you are actually placing two bets; one to win and one to finish in the first three. If you bet in a handicap race which has 16 or more runners then you will also win if your horse finishes in fourth place. There have to be at least five runners in the race to be able to place an each way bet.
Step 4: Each Way winnings
If your horse wins the race the first part of the betting stake is multiplied by the odds and paid with that original part of the betting stake, and the other half of the betting stake is multiplied by a quarter of the odds and paid with the original part of the betting stake. For example where a £1 Each Way bet (£2 betting stake) is placed on a horse at odds of 8-1 the original £1 betting stake for the horse to win is multiplied by 8 and returned with the original £1 betting stake paying out £9. The other £1 of the betting stake is then multiplied by a quarter of the odds (ie 2) with the original £1 betting stake paying out £3. Therefore if the horse wins the bet results in a total £12 win.
If your horse finishes in first, second, third or fourth place in
a race with a lot of runners the original betting stake for the
horse to win is lost and second part of the betting stake is
multiplied by a quarter of the odds and paid with the original
part of the betting stake. For example where a £1 Each Way
bet (£2 betting stake) is placed on a horse at odds of 8-1 the
original £1 betting stake for the horse to win is lost. The
other £1 of the betting stake is then multiplied by a quarter
of the odds (ie 2) and paid with the original £1 betting stake
paying out £3 in total.
Step 5: Accumulator
An accumulator bet is where you back four or more horses in different races throughout the day in one single bet. You can win an enormous amount of money from a relatively small initial bet but if one of your horses doesn't finish first in its race then your whole stake is lost. You can also place an Each Way accumulator bet where all of your horses must finish in first, second, third or fourth place (If it's a handicap race with over 14 runners.)
Step 6: Accumulator winnings
If you place an accumulator bet then the winnings from one race are carried over to the next as the stake and so on for a pre-determined number of events.
So if you choose the winning horses in four consecutive races on the same day, each with odds of 8-1 you calculate it like this.
£2 x 8 = £16
£16 x 8 = £128
£128 x 8 =£1024
£1024 x 8 =£8192
So your winnings are £8192 from an original stake of £1.
Step 7: Forecast
Two horses are selected in the same race for a forecast bet. You select the two horse that you think will come first and second and you must name the one that you think will win. The horse must finish first and second and in the specified order for you to pick up the money.
Step 8: Tote
Tote betting is an altogether different type of betting and you cannot predict how much you will win when you place a bet. All of the bets placed on a race are pooled, a deduction is made to cover costs and the Tote's contribution to racing. A winning dividend is then