Horse Racing Betting Sites in Nigeria

After selecting a bookmaker for horse racing betting, it is necessary to understand the different markets available. As with other sports, there is an awful lot of choice out there.

But perhaps horse racing is unique in the world of sport in the sheer amount of confusing terminology surrounding types of bets.

In order to help newcomers to get their heads around the jargon, here are some of the most common racing betting options - and what they are:

• Winner: A simple place to start, winner markets are easy to understand. This is a just bet on a horse to cross the line in first place, nothing more than that. 
• Each Way: Each way betting on horse racing involves two bets - one on the horse to win and one for them to finish in the places. The number of places paid depends on the number of horses in the race, as well as the bookmaker. Some betting sites offer extra place races. When betting each way, it is important to remember the stake is doubled.
• Place only: Betting on a place only market is similar to each way wagers, except the half of the bet on the to win element is missing. Backers only need the horse to finish in the places to win the bet.
• Forecast: To win a forecast, backers must predict the horses that finish first and second in a race. Reverse forecasts are also available at many online bookmakers in Ireland, as well as straight forecast bets.
• Tricast: A tricast is similar, but the first three horses in the race have to be selected. 
• W/O Favourite: When betting on the without favourite market, the horse with the shortest price at that time is omitted. This can be a popular bet when there is a runaway favourite for a particular race.
• Matched bets: Matched bets are increasingly popular as a way to make risk-free money out of online betting. This tactic involves using free bets and betting exchanges to cover all the potential outcomes of a race to lock in guaranteed profit whatever happens.
• Insurebet/Coverbet: In this type of bet, the bookmaker will refund the stake if the horse does not win but finishes in the places instead. As a result, the prices available for an insurebet or coverbet wager tend to be lower than when backing a horse just to win.
• Each Way Extra: This is a promotion by which horse racing fans can add extra places to their each way wagers in exchange for a reduction in the price offered.
• Tote: Betting on horse racing with the Tote is different to using a bookmaker or a traditional betting site. Instead of the bookmaker holding the money, all the cash wagered goes into a central pot, with winners receiving a share of the total cash.
• Single: A single bet is easy to understand - it is selecting one horse to win their race.
• Double: In a double, a second horse is added in order to improve the price available.
• Accumulators: As with in other sports like football, accumulator bets are popular in horse racing. The more horses that are added, the higher the potential winnings are. But on the flip side, accumulators with many horses are incredibly hard to win.
• Trixie: This is a type of horse racing bet made up of four selections: three doubles and a treble. If just one of the three horses wins, the bet is a loser, but if two win then a profit might be made, depending on the odds of the selections.
• Patent: The patent is like a trixie bet, but taken to the next level. There are seven bets covered by the patent, three singles, three doubles and a treble. What this means is that even if only one of the horses wins, the backer will still receive a return on their wager.
• Yankee: This one is a bet for four horses. The Yankee is made up of 11 different bets: six doubles, four trebles and a four-fold accumulator. Remember that when betting on an option like the Yankee or the patent, the stake is multiplied by the number of lines. 
• Lucky 15: A Lucky 15 bet on the horse racing is the same as the Yankee, but with the addition of four singles on each of the selections. This means backers of a Lucky 15 bet will at least get something back from their bet even if just one of the horses wins. It is also possible to back a Lucky 15 bet each way, which multiplies the stake even further.
• Lucky 31: The Lucky 31 works in a similar way, but with an extra horse added. There are therefore 31 different lines to the bet, as follows - five singles, 10 doubles, 10 trebles, five four-fold accumulators and a five-fold accumulator to round it off.
• Placepot: All leading online bookmakers offer a placepot and this is a popular type of horse racing bet because it offers the chance to win a massive amount of cash from a relatively low stake. Backers of the placepot pick a horse they think will finish in the places for six pre-selected races. If all six do finish in the places, winners receive a share of the pot, in a similar way to the Tote mentioned above.