Horse racing is popular because it is perfect for placing bets on. Gamblers can use online bookmaking sites to win big potentially. These winnings can then be deposited in e-wallets and saved for future gambling or general spending. This type of betting works by guessing which horse will come in first place.
Horse race betting works by using odds. These are figures which give out the likelihood of a horse winning. The higher the odds, the less likely the horse will come first. The odds figure will also determine how much money a winning bet will award.
Odds are represented by a fraction, for example, 2/1 or 5/1. The left digit is how much the bet pays out in the event of a win. The right digit signifies the stake. In a 2/1 bet, if the gambler wagered £1, they stand to win double that. The more money they bet, the higher the potential payout. Wagering £5 will pay out £15 (as they will also get their initial stake back.)
Usually the funds remain in the betting site account until it is transferred elsewhere. Indian customers can place their money in Skrill, which is a popular e-wallet.
If the odds contain a decimal place such as 4.5/1, the bookmakers will change the fraction, so it becomes a whole number. In the case of 4.5/1, it will be doubled to make 9/2. Generally speaking, the more significant the difference between the fractional digits, the higher the payout.
Each Way Bets
As well as placing single bets, each way ones are also available. This type actually constitutes two separate bets. The first one pays out if the horse wins. The second pays out if the horse ends up finishing in a lower position. This is usually up to third place but can be higher. Each way bets are popular because they increase the chances of getting at least some money back from the initial stake.