Horse racing includes a lot of jargon and peculiarities that aren't always comparable to other sports marketplaces. This is nothing to be concerned about, but knowing the regulations helps when putting frequent horse racing bets. We'll go through some of the most frequent words and betting possibilities you'll come across in the world of horse racing.

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Introductory Price

When betting on horses, you have the option of taking the odds at the moment of your wager or the starting price, or SP. The SP is a representation of a horse's odds at the start of a race when betting is halted. The odds are relative to both form and the amount of money placed on a market, as they are in all sports. The majority of money is bet on a race in the minutes leading up to the starting pistol, thus odds can change dramatically. SP is established by the industry and will be followed by all bookmakers providing it. There is no specific benefit to taking an SP, although many individuals choose to do so only in case the odds change. Because most bookmakers now provide best odds guarantees for UK and Irish racing as standard, it's usually preferable to choose the fixed price if betting on that particular day, as even if the SP is higher, you'll still get that price.

The Favourites

In horse racing, what is a favourite? Simply put, this is the horse having the best odds at the moment of your wager. In tight races, particularly those with a large field (number or runners), before the start of the race, the favourite might change numerous times.
If you wish to bet on the favourite regardless of who it is, most bookmakers will give you the opportunity to bet on the favourite at SP odds, regardless of who it is. It's common to have the option of betting on the second favourite as well. It's also possible to have two or more runners as joint favourites if their chances are the same.

Guaranteed Best Odds

Most major online bookies now provide this service, but what does "best odds guarantee" mean? This implies that if you bet on a horse in a race that qualifies for the guarantee and the industry starting price (SP) is greater than the odds you were given at the time you bet, then you'll be promoted to the higher reward chances.

If the SP is less than the odds you were given, your initial wager will be honoured, and you will be in a no-lose position. It is frequently preferable to wager with bookmakers that promise the greatest odds. This isn't to say you shouldn't use odds comparison websites to get the best odds, since if your horse's SP doesn't wind up being greater than the odds you were given, you'll have to stick with the odds you were given, which will vary across bookies. The majority of the best odds guarantees are just for horse races in the United Kingdom and Ireland, although some bookies will provide guarantees on races from other countries.

Author's Bio: 

Alex is a professional writer and digital marketing expert