A Simple Sports Betting Guide

Here we will look at some basics of sports betting. We will explain what is meant by an absolute bet, an each way bet, a place bet, and an enhanced win.

The most simple of bets is a win bet. Here the bookmaker offers odds on a win, for instance he might offer 6/1 that a specific horse will win a race. If you bet at these odds and your horse wins you win six times your stake and your original stake is returned, so if you have an online betting account it will be credited with £7.00 for each £1.00 that you bet.

Often it is wise to place an each way bet. This means that you are betting on the horse finishing in either the top three or top four runners. Effectively your stake is split in two. Half of it is used to create a win bet as described above, and half of it is used as a place bet at reduced odds. If you placed an each way bet for a total of £1.00 on the race above, then if the horse won you would receive the proceeds generated by £0.50 as a win bet, which would be £0.50 multiplied by the odds plus £0.50, your original stake. This is £3.50. You will also win the place part of the bet which is generally offered at ¼ odds. So you get back the other £0.50 of your stake plus ¼ times £3.50, which equals £1.37.5 making your total return £4.87.5.

If your horse finished second or third you would receive only £1.37.50 as you would lose the winning part of your bet. It is apparent that each way bet are only worth it on horses with relatively high odds.

Place bets are just the place part of an each way bet and so should need no further explanation other than to remind you to be aware that the odds are only a fraction (generally ¼) of those quoted by the bookmaker.

Enhanced win bets are offered at greater odds than simple win odds though they cannot be backed each way. If you can find them then this is a great way to bet on horses with short odds.

Compare the top bookmakers online with Onebooker today and you could win some big money on sports betting!