Our Guide to Horse Racing Betting

The so-called “sport of kings”, horse racing has a rich and varied history that stretches from chariot racing in Ancient Greece to the stellar flat and national hunt race meetings that we enjoy today!

Modern-day horse racing also remains synonymous with sports betting, with an estimated 97.4% of fans known to wager on events as they watch them unfold live or on the television.

In this comprehensive guide to horse racing betting, we’ll look at the best sportsbooks in Ireland while reviewing the best and most iconic horse racing festivals to take place on these shores.

Racing Betting Festival Guides

Discover our range of racing betting guides on the worlds most prestigious festivals and gatherings below.

Best Horse Racing Betting Sites by Category

Horse Racing Betting Sites in Ireland

Incredibly, there are more than 300 online sportsbooks in Ireland, although not all of these have been created equal. Fortunately, we’ve ranked and reviewed the very best licensed sites that you don’t have to, so that you can wager freely and with genuine peace of mind!

But what are the best horse racing betting sites in Ireland, and what sets these operators apart in a competitive market? Let’s find out!

BoyleSports

When it comes to horse racing betting sites for those who live in Ireland, it is safe to say that BoyleSports is the best place to go. This betting site is an Irish operator which means that they know exactly what it is that Irish sports betting punters are looking for. If you are looking for a great place to bet on all of the biggest horse racing events, then this is the only site that you will ever need.

What makes them so great for horse racing fans is the fact that they have a number of great features that you can take advantage of when there is a big horse racing meeting on. For example, they have a "Best Odds Guarantee" promo which means that if you place a wager the day before the race and the odds are better when the race starts, BoyleSports will be more than happy to pay out any winnings at the best price. They also offer an "Extra Place Races" promo which is where they will choose particular races due to be run on the day and will pay out at odds of 1/5 if the horse that you select finishes in the top four. But wait, there is more. If you place a bet on a horse and they finish second to the SP favourite, then you will get your stake back in the value of a free bet.

BoyleSports Racing really does have it all.

Ladbrokes

Ladbrokes is an iconic betting brand that’s synonymous with both online wagering and the Irish high street.

Home to more than 39 sports and a diverse range of betting markets, the Ladbrokes horse racing section is also one of the most extensive of its type anywhere in Ireland. Ladbrokes also has a market-leading live streaming service, meaning that punters can watch a wide range of races in real-time while accessing multiple in-play markets and bet types.

Currently, new punters can claim four, €5 Free Bets as part of a €20 sports betting Welcome Offer. Each wager must be deployed across selections with odds of 1.50 or greater, although it’s interesting to note that there are no wagering requirements in play here at all.

William Hill

Next up is William Hill, which is another iconic sports betting brand that can trace its roots back to high streets across the length and breadth of the UK.

Currently, William Hill is one of the best and most comprehensive sportsbooks in Ireland and the UK, with more than 60,000 sporting events available for punters to bet on. This includes a large number of international race meetings all year round, in bustling destinations such as England and Dubai as well as Ireland.

William Hill also offers some of the best and most competitive odds on the market, along with a €30 welcome offer that takes the form of two, €15 free bets. Once again, maximum odds of 1.50 apply here, while the offer expires 30 days from the moment that the initial qualifying bet is placed.

Bet365

Bet365 is another seminal UK and Ireland betting brand that has led the marketplace since the turn of the century. Interestingly, Bet365 is another platform that’s excellent for live streaming, with players who have a funded account or active wager able to access exciting flat and national hunt races from around the world.

We’re also fans of the welcome offer provided by Bet365, which is unique in the marketplace and takes the form of a free bet worth 100 credits. This is available to all players who make an initial qualifying deposit of €5 or more, while the maximum odds in play here are a little more competitive at 1.20.

Betway

When it comes to horse racing betting, there is another sports betting site that those who are searching for a place to bet on the horse should look at, and this is Betway. Not only do they offer a variety of markets and competitive odds for all of the big horse racing events, but you will also find odds and markets for many smaller races that those who do not follow the sport have never heard of. So, if you ever get the urge to bet on any horse racing event, take a look at Betway and we are sure that you will be able to find something to try your luck on.

They also have a number of awesome promotions that horse racing fans can take advantage of. For example, they also have a "Best Odds Guaranteed" promo so if you place a bet and then see that the odds have increased come the start of the race, do not worry because if your horse goes on to be a winner, Betway will pay you according to higher odds. Also, they have an "Enhanced Combo Wins" promotion, where you can get up to 60% extra in cash on your accumulator if it goes on to be a winner. For example, if you make a double and it wins, you get 2% extra winnings, while if you place a 16-fold accy and it goes on to win, you will receive 60% extra.

How to Bet on Horse Racing

Regardless of which of our listed sportsbooks you choose to wager on, you can rest assured that you’ll enjoy an immersive and secure wagering experience.

The question that remains is how do you bet on horse racing while making the most of your bankroll and optimising returns? Here is our take on the most popular racing betting markets and some select tips on how to leverage them successfully.

Single and Each-Way Betting

We’ll start with the two most popular horse racing betting markets; namely single and each-way wagering.

Single, straight win bets are the most common and straightforward, as they require you to back one horse to prevail in a particular race. Conversely, each-way betting is a two-part wager, with half your stake backing a selection to win and the other committed to a runner that you think will place (or finish in the top three).

For example, let’s say that you place a €5 each-way wager (€10 in total) on a runner priced at 8/1 to win (with a sportsbook offering ¼ odds for three places). If the horse in question places you’ll earn a return of €15, but in the event of a win you’ll bank €60 in total (€45 for the win and €15 for the place).

This explains the popularity of each-way betting, as despite its increased cost it can provide higher returns in the event of a win and enables you to retain at least some of your stake if the runners trails in second or third.

Accumulator Betting

Accumulators are also incredibly popular in horse racing, with this type of bet comprising four or more selections in a single wager.

Typically, these selections will take the form of single, straight win bet across different races, with the overall odds calculated progressively with the addition of each individual outcome. You’ll then lay down a single stake as usual, while each selection will have to come in for the accumulator to be successful.

There’s obviously a delicate balance to be struck with accumulator betting, as while increasing the number of individual selections boosts the potential return incrementally, this also increases the risk of the wager being unsuccessful.

Reverse Forecast Betting

With reverse forecast betting, you’ll be required to correctly select the first two horses to finish a race, albeit in no particular order. It’s a deceptively popular bet type too, particularly for horse racing enthusiasts who like to study form and previous meetings.

It certainly affords punters a little more freedom than traditional straight win wagering, as you can include two favoured selections in a single bet line.

Of course, the risk associated with this type of bet increases in larger or more competitive fields, while the task of selecting the top two as opposed to a single winner is statistically more problematic and less likely to come in.

Horse Racing Odds Explained

In simple terms, sports betting odds represent the probability of each outcome pertaining to a particular race, match or tournament. They also create a clear value proposition associated with each outcome, enabling you to calculate how much you can potentially win in relation to your stake.

But how exactly do sportsbooks utilise odds to operate profitably? Well, let’s say that you were to wager on a coin toss, for which there are two potential outcomes with a 50% probability (which in betting terms translates into odds of evens or 2.00).

In this instance, the bookie will create an ‘over-round’ by offering odds of less than evens, usually 4/5 or 1.80. So, if the sportsbook was to take two bets of €100 each on both heads and tails (€200 in total), they’d only payout a maximum €180 regardless of the outcome and bank a €20 profit.

But how can you negate the house edge and turn the odds in your favour? Here are some tips to keep in mind!

Use and Manage Your Bankroll Strategically

We’ve already touched on the importance of having a strategy when betting on horse racing, where the amount that you wager should correlate directly to the odds and value proposition in question.

For example, if you’re wagering on a heavy, short-price favourite to win a particular race, you should look to optimise your stake and betting unit. The reason for this is simple; as it will help to maximise a potentially low return without requiring you to put your bankroll at significant risk.

Conversely, we’d recommend minimising your stake when betting on outcomes with long or extended odds. This not only helps to minimise losses in relation to a higher risk selection, but it also enables you to bank a sizable return if the wager eventually comes in.

Make the Odds Work for You

As we’ve already said, not all sportsbooks have been created equal, which is why you’ll find variable odds on the same events from one platform to another.

Some sportsbooks are also renowned for offering the most competitive horse racing odds, with William Hill providing a relevant case in point in the Irish market. So, by comparing the ante-post or in-play market and reviewing a selection of different odds, you can make more informed decisions and pursue the highest possible return.

Of course, you can also use sportsbook welcome offers and bonuses (such as those detailed above) to receive free bets and credits. This type of promotion allows you to chase 100% profit on selections that meet the minimum odds requirements, particularly when you choose a bonus that’s free from wagering requirements.

Use Accumulators Wisely

On a final note, the careful and selective use of accumulators also enables you to create extended and value-packed odds without overly compromising your chances of winning.

The key is to create a manageable number of selections within your acca bet (ideally between six and eight), so that you can strike the ideal balance between optimising probability and accessing lengthy odds that may still deliver a hefty return.

Similarly, you’ll need to select runners that are favoured and have an excellent chance of winning their respective race, based on a combination of odds and your reading of their form. If you do include an outside selection with extended odds, this will need to be based on data and your underlying knowledge of the event and runners as a whole.

The Best Horse Racing Festivals to Follow

The horse racing calendar in the UK and Ireland is packed full of prestigious meetings, some of which are widely renowned and watched across the globe.

Within these legendary flat and national hunt meetings there are several iconic races, from the Cheltenham Gold Cup and the Grand National to the Irish Derby in the Emerald Isle. So, here’s our breakdown of the best horse racing festivals to follow as a punter, and a quick look at why they’re so special.

The Cheltenham Festival

Let’s start with the Cheltenham Festival, which is typically hosted in the final week of March each year and visited by more than 260,000 people on average. This makes it one of the top 10 attended sporting events in Britain, and this trend shows no sign of changing anytime soon.

A true test of stamina and athletic ability, this National Hunt meeting showcases some of the world’s biggest races and most successful runners, with the Cheltenham Gold Cup serving as the showpiece event on the final Friday.

The Cheltenham Festival is also one of the biggest horse racing meetings from an economic perspective, with this generating around €100 million on an annual basis.

The Randox Grand National Festival

Since its inaugural running back in 1839, the Grand National Festival has emerged as the single most iconic and valuable chase meeting in the world. To this end, its showpiece race (the Grand National) carried a total purse of €750,000 in 2021, with the winner banking a cool €350,000 for their efforts.

This race typically features a bustling, 40-strong field, who must navigate 30 iconic and incredibly challenging fences if they’re to prevail. Held on the final afternoon of a three-day meeting, it’s known to attract more than nine million TV viewers and draws bets from even the most casual and part-time punters!

The meeting is home to a number of other premium, Grade 1 races too, including the Betway Aintree Hurdle and the JLT Melling Chase (which is hosted on Friday afternoon).

The Irish Derby Festival

No list of this type would be complete without the three-day Irish Derby Festival, which is Ireland’s biggest horse racing event and is held at the iconic Curragh Racecourse at the end of every June.

The event currently runs between a Friday and Sunday, with the meeting’s showpiece race (the Irish Derby) usually taking place on the Saturday and considered to be the single most valuable horse race in Eire.

It’s certainly the biggest and most prestigious of the five Irish Classics, and one that has built an incredibly rich history ever since it was first run in 1866. Often, the runners here have transferred from the Epsom Derby, with a select number of horses having earned the honour of winning both races.

OK, we hear you ask, but what other festivals and race meetings are available for punters to wager on throughout the year? Here’s a snapshot of the biggest festivals from the UK, Ireland and even overseas!

Our Horse Racing Betting Offers

• www.begambleaware.org

A Brief History of Horse Racing

As we’ve already touched on, the so-called “sport of kings” can trace its roots back to chariot racing in Ancient Greece and Rome, with horse racing also boasting a strong presence in myth and legend (such as the contest between the steeds of the god Odin and the giant Hrungnir in Norse mythology).

Latterly, the concept of thoroughbred racing became popular amongst aristocrats and royalty in the UK, with this earning horse racing its grand nickname. This also saw horse racing become well-established during the 18th century, with 1750 seeing the formation of the Jockey Club to help control and regulate the iconic Newmarket races.

This laid the foundation for the Epsom Derby to launch in 1780, while the five so-called “classic” races kicking off with the St Ledger Stakes four years earlier in 1776. It was around this time that a system of wagering and horse racing betting first became popular, and this helped to fund the continued growth and expansion of the industry.

Today, horse racing is a multi-billion-pound industry across the globe, both from the perspective of prize funds and sports betting volumes worldwide. To this end, the aforementioned Dubai World Cup remains the world’s richest race, with a cumulative prize fund of $12 million awarded after the 2021 iteration.