Bringing specialist expertise in rugby (both league and union) and cricket, Ella Miller is a dedicated member of the Wetten team with years of experience in creating betting-related content. Having started writing about sports with her own blog while at university studying journalism and, post-graduation, turned her wordsmith abilities to writing for a variety of different sites. She joined the Wetten team in 2019 and is now a Contributing Editor for various sections of the site. When she’s not working for Wetten, Ella loves attending any rugby or cricket match she can get to, horse riding, and tending to her garden.
Looking for a horse racing odds comparison service you can trust? Well, you’ve come to the right place!
Here at Wetten.com; we know bettors like you want the best horse racing odds the internet can provide in Australia! You can view all the leading operators here. You will soon see that the bet365 sportsbook has top horse racing odds available among others!
The Best Bookmakers in Australia with Our Horse Racing Odds Comparison
So, where are the best horse racing odds to be found? That is what this page is all about. We have asked our team of experts to review all the leading online bookmakers Australia has right now. From those, we have put them through a detailed horse racing odds comparison which leaves you in absolutely no doubt which provides the top prices most often.
Having the best horse racing odds is obviously a major plus for any bookie. We understand that it is a lot easier said than done, but all the hard work of finding out which sportsbooks do offer you the most value has been taken care of. That is what our horse racing odds comparison is for. You just have to check below to see our shortlist and weigh one bookmaker up against another.
Also on this page, you will find discussions of the different types and formats of horse racing betting odds as getting your head around those might just make you into a better bettor. We think it’s a smart horse betting strategy for one thing. Before all that, take a look at the horse racing odds comparison made for the major players with betting in Australia.
Types of Horse Racing Betting Odds
Unlike other sports, there are different types of horse racing odds you can use for betting. Depending on the kind of wager you want to place, there are three main types of markets you can take. We’re not talking about the various formats of horse racing betting odds here like fractions and decimal prices. Instead, it’s the types of service you seek.
Broadly speaking, there are three sorts of horse racing odds that you will need to know about when learning how to bet on horse racing. Most wagers placed are regular fixed odds sportsbook markets, although the parimutuel services and pool betting in Australia remain popular. Last, and by no means least, there are exchange betting odds where you wager against fellow bettors rather than against the bookies.
There is no definitive answer of conclusion about which type is the best horse racing odds today. That all depends on you as a bettor. All of these are completely legal forms of online gambling too. You will also find there are pros and cons to each service. These are worth exploring in more detail below, as it should enhance your understand of horse racing betting odds nicely and what to look out for:
Fixed Odds for Horse Racing
As noted above, fixed horse racing odds often prove the most popular with internet bettors. A sportsbook offers them with margins factored into the prices offered, so that the bookies make a little something on every bet. Here, you are in direct competition with them. Your stake says a certain horse will win a race and, if it does, they must pay out at the horse racing betting odds offered to you.
Choosing between taking a price offered early and the starting price of any horses you back will be made available to you. With fixed odds, you may be able to get a bet on in the futures market weeks and possibly even months in advance. You may not get a run for your money here, though, so be warned you could lose your stake if the horse doesn’t make it to the track.
All you stand to lose is the amount you wagered, though, and nothing more. Obviously, some fixed odds services are better than us. One of the top online bookies listed through our horse racing odds comparison is the international sportsbook Unibet who operate in Australia. They are a great example of this particular type, so consider signing up if that appeals to you.
Parimutuel Odds from Pool Betting
With parimutuel odds, the prices offered are calculated differently. Similar to market support on fixed horse racing odds that create gambles, the popularity of a horse is key. There are returned dividends based on how much of the total combined money in the pool wagered was staked on the horses. This leads to a common drawback of parimutuel betting in that favourites often pay a smaller dividend than their fixed odds starting price equivalent.
That is unfortunate but worth knowing. It also works both ways. If favourites are seldom found to be value via parimutuel horse racing betting odds, then to balance the book unfancied runners may actually be a better price in the pool. There are win and place only markets available to you here, so checking what horses pay via Tote services such as the TAB and making a horse racing odds comparison with their fixed odds starting price may prove this point.
Exploring this to be placed angle might not be as naturally exciting as betting on a winner, but profit is profit when it comes to gambling regardless of where it comes from. You should have access to all of Australia’s three national Tote services and thus the best horse racing odds of the parimutuel style via BlueBet – one of the region’s native bookmakers.
Horse Racing Betting Odds on the Exchanges
Now, to the exchanges. Did you know that you don’t have to bet against the bookmakers or within a pool, but take on fellow bettors instead? This is what the professional gamblers choose. They called peer to peer betting, and horse racing odds are the most popular of its kind. One major difference here is that you can use a betting exchange not just to back horses to win races, but lay them to lose too.
It’s a game changer in gambling terms. The other horse racing betting odds services are all about finding winners. With the exchanges, you can make profit on horses that suffer defeat on the track too. You may also get even higher odds than if you placed the same back bet to win or place through fixed odds sportsbooks or parimutuel services.
Geater rewards mean greater risks, however. If your bet loses, i.e. the horse you lay wins the race or that you back and it doesn’t, then you have to payout to the bettor who you matched on the exchanges. This costs you more than stake you put down with a bookie or through pool betting. By far the best known internet betting exchange is Betfair and they operate in Australia if you are intrigued and want to try this form of gambling out.
Top Sportsbooks for Horse Racing Betting Odds in Australia
Whatever the best horse racing odds are, you will find that there are different ways of expressing the prices offered. This is often based on geography. Depending on where in the world you are, the nature of how prices look alters. We thought it was well worthwhile looking at three main formats of horse racing odds you will encounter in Australia:
Fractional odds have their history on the chalkboards of British racecourses. They are made up of two numbers separated by a slash (/) or dash (-). The number on the right or bottom of the fraction represents the stake, the amount you gamble. On the left or top, meanwhile, tells you what you could win. For example, odds of 7/4 sees you bet $4 to make $7 profit. With fractional horse racing betting odds, you must always add your stake on to calculate the total return. In this case, a $4 wager at 7/4 returns $11.
Decimal odds, meanwhile, are what you will find on the exchanges. They are a decimal number that you should multiply your stake by in order to work out the total returns on your wager. For example, $5 at 4.00 makes a return of $20. Here, you must subtract your stake rather than add it on to calculate the profit made. In this case, there are $15 in profits riding on the wager.
Parimutuel formats express what the wager pays off a $1 unit stake, so the price is not displayed as a fraction or a decimal but in monetary terms. There will be two of these, one for the win and another for the place. For example, parimutuel horse racing odds of $3.25 would see a $4 bet return $13, of which $9 is profit.
Horse Racing Odds FAQs
👍 What are good horse racing odds?
Everyone wants not just good, but the best horse racing odds available. The thing about value when you’re betting is that it’s a relative concept. What one person considers to be great odds, another bettor may feel is a poor price. Everyone has an opinion on a sport like horse racing, and that’s what makes it so exciting. Through our horse racing odds comparison service, you can see which online bookmakers in Australia have the top prices most often.
💰 How do the odds pay in horse racing?
Horse racing betting odds are simple to understand once you get to grips with them. They can be expressed in different formats depending on where in the world you are. From fractional prices to decimal odds and pool dividends, there are various ways of calculating what you stand to gain from your wagers. Whatever your gamble pays, you need the best betting odds Australia has to offer for your flutters on horse racing.
❓ Which bookies give the best horse racing odds?
In order to find out which online betting sites have the top prices most often, you will need to use a horse racing odds comparison service. This saves you the hassle of manually visiting every sportsbook to check for yourself. When you want to bet on horses online in Australia, visiting Wetten.com is a great place to start. Their industry experts know precisely where the best horse racing odds can be found over the internet.
📈 Are higher odds better?
It’s a case of the bigger the horse racing odds you take for a bet, the better. This is because the greater the price you get, the larger the potential profit is. It’s the same for any wager you place on any sport anywhere in the world. While online betting with high odds for horse racing is always desirable, finding sites that offer them isn’t quite so easy. The solution is to use a horse racing odds comparison tool or platform, which will help you track down tasty prices.
🤔 How do you bet on horse racing odds?
You will find that horse racing betting odds work in much the same way as agamvbling on any other sports. They are a reflection of implied probability of all horses competing in the event. The ones with the shorter prices are reckoned more likely by the market to win than others. Betting on them, either through online sportsbooks or the best horse racing betting apps for mobile devices, is an easy process. One logged in to your account, select the race and horse you want by hitting the odds, then enter your stake and place the wager.