Racing is Excellent
Why racing offers some of the best matched betting opportunities
Theory
How we make a profit from racing
Our Not-So-Secret Weapon
High frequency racing profit with Stallion
Using Stallion
How to use Stallion to find profitable racing bets
Customization
Customizing Stallion to suit your betting preferences
To Lay or Not to Lay
Full Lay, Underlay vs No Lay
Gotchas
Common pitfalls and considerations when betting on racing
Common pitfalls and considerations when betting on racing
Betting on racing is normally straightforward, but there are some things you need to consider to make sure you maximize your profits and avoid common pitfalls.
When you're placing a bet on a racing market with a promotion attached, only your first wager will count towards the promotion. If that bet is cancelled for whatever reason, placing another wager will not count towards the promotion.
Sometimes, two or more horses will cross the finish line at exactly the same time. This is called a dead heat. In these situations, bookmakers will typically pay out bets on each horse at half the stake.
For example, if you bet $50 at odds of 5.0 on a horse that dead heats with another, your payout will be calculated as follows:
Total Payout = (Stake / Number of Horses in Dead Heat) * OddsTotal Payout = ($50 / 2) * 5.0 = $125So instead of receiving $250, you would receive $125. The same applies at the exchange.
If your horse is in a first place dead heat, you will not receive any promotional benefits that would have applied to a sole winner.
If your horse is in a place dead heat, the bookmaker may or may not pay out the bonus.
Sometimes, a runner may be withdrawn from a race before it starts. This is known as a "scratch." If your horse is scratched, your bet will be refunded.
Remember what we said above about only your first wager counting towards promotions. If your bet is refunded due to a scratching, placing another bet will not count towards the promotion.
If another horse is scratched, it may affect the odds of the remaining horses, including on bets already struck. This is called a "deduction", where the odds are adjusted downwards to account for the reduced field.
This happens at both the bookmaker and the exchange. It shouldn't have a major impact on your EV calculations, but you will need to adjust any Tracker entries accordingly.