How to Place a Bet in Horse Racing?

February 5, 2022
Paul G

If you've heard friends or maybe even colleagues chatting about bets they've placed on the races, you might be wondering, how to place a bet in horse racing

Here at Horse Racing Betting Apps, we have been placing bets on the horses for quite a number of years now, so are some of the best around to tell you just how to go about placing your first bet on the racing. 

There are a number of ways that you can place a bet on horse racing, and whilst the methodology is the same wherever you choose to place your bet, the steps that you need to take are slightly different.

So, we're going to tell you all the way, or should we say places you can place a bet and then discuss the methods for each.

How To Place a Bet on the Racing

Where Do You Place A Bet on the Horse Racing?

There are a number of places you can place a bet in horse racing. Bookmakers, the Tote and a Betting Exchange. Each has there own merits. You might prefer one option over another. Obviously, we prefer betting with bookmaker's, using their specially created mobile apps. But you might prefer using the tote at the race track or even an online betting exchange. 

Let's take a closer look at each of the options in turn: 

Bookmakers -

According to the Collins dictionary (1),

a bookmaker, bookie, or turf accountant is an organization or a person that accepts and pays off bets on sporting and other events at agreed-upon odds.

Organisations, such as William Hill and other bookmakers offer a number of approaches to placing a bet with them. 

The majority of bookmakers in the UK started their businesses on the high street or at the race track. With the exception of a few bookies, you can still place a bet with them at a high street store or at a booth at the race track. 

With advances in online technology, bookies then created websites that you could use to place your bets on the horses. 

This proved quite popular, and when mobiles became more advanced these online bookies created mobile optimised versions of their websites (WAP sites).  This was followed shortly afterwards by the creation of betting apps. 

Today you can place a bet with a bookmaker at a high street store, at the track, via an online or mobile site or you can install their betting app on iPhone or Android. 

Which is better, depends on each person. Everyone has a different view. 

Mobile betting, whether with a betting app or a mobile site has a number of advantages. It's possible to place a bet wherever you happen to be as long as you have a connection to the internet. 

Tote

The Tote is a system of betting money on horses in races. They have a stand at the race track. 

It was started way back in 1928 by Sir Winston Churchill, more than 90 years ago. 

Essentially it is like a sweepstake and is referred to as pool betting. Every bet that is placed is collected together into one 'big pool' and then shared out.

In 2020 they went online and now have a betting app as well.

As a way to attract new customs, they introduced the Tote Guarantee and Placepot Penny lines, World Pool the return of Tote Ten to Follow.

 

Betting Exchange

The betting exchange works differently again. It is a marketplace, where customers set their own odds. You can lay or back a bet. You can essentially act as the bettor or the bookie. Customers are charged a small commission on winning bets.

Betting exchanges first came about in 2000, when Betfair paved the way. They have one main competitor and that is Smarkets.

You can place a bet at a betting exchange either via their online or mobile website or using the companies iPhone or Android app.  

 

 

 

 

How To Place a Bet?

As placing a bet with a bookmaker, the tote and betting exchange is slightly different, we have created separate posts for each. We offer a brief guide below.

Placing a Bet with a Bookmaker

At the track or high street store, the bookie gives you a copy of your betting slip. if your horse wins you take the slip back to them and they pay out your winnings using the odds stated on the betting slip. 

If you want to place a bet using their online or mobile services you need to create an account with the bookie, prior to placing any bets. Creating an account is simple and takes just a few minutes. 

To place a bet using the app, you need to download the relevant app via Google Play or from Apple's App Store.

Find out how to place a bet a bookmaker

 

 

 

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