If you're new to racing, this basic Guide to Betting on the Grand National should help answer some of the questions you might have. If you're not sure exactly what type of bet you want to have on the Grand National, here are some of the basics.
Don't forget though, having a little flutter on the horses should be fun and it doesn't have to be complicated. Sometimes you're as likely to have a winner by just deciding you like the name or the colours of the jockey!
Here we explore some of the basics to help you understand betting:
What your investment will return
When placing a bet, your stake or investment is the amount of money you are willing to gamble - be it a cautious 1 or a rather more adventurous 100. If you're a winner, your winnings (also known as 'returns') are calculated according to your horse's odds.
So if you back a horse lets say Monty's Pass at 10/1, if you place 10 at 10/1 your winnings will be 100 and you will also get your 10 stake back, therefore in total your returns will be 110.
Grand National Bet Types
- Win Betting - Is also referred as 'on the nose', you're selecting a horse to win. This is as per the example above.
- Each-way Betting - This gives you a win and place bet on the same horse. If your horse wins, you collect both the win and the place dividend. Because an each-way bet is two bets, your stake is doubled i.e. as per the example above 10 each-way bet will cost you 20. If your horse wins, both bets pay out. So following on from the example above, you win the Win part as explained and also the place part which would be of the 10/1 which is 2.5 times your 10 stake.
So your 20 investment will return
Win part - 110 Place part - 35
Total return including your investment will be 145
If in this example Monty's Pass does not win but is placed i.e. 2nd, 3rd or 4th in the Grand National you do not win the first part of your bet, that is the win part but your second bet pays out. In this case your total return including your stake returned is 35. So in this case you win 15 in total.
- Place Betting - This bet is available with Totesports or the betting exchanges. You're selecting a horse to be placed. In the Grand National you will get paid out on the first 4 horse home. This means your horse needs to finish 1st, 2nd, 3rd or 4th.
Also remember your winnings are Tax Free.
For the Grand National it is probably a good idea to have each way bets as the odds of the horses are generally quite attractive, that is greater than 10/1.
Another additional point to consider is that for the Grand National, the Bookmakers are very keen to get you as a customer and you will find if you shop around online that a number of the Bookmakers offer each way for the first 5 horse home. This just gives you a slightly better chance of winning.
On the betting exchanges you can get odds for the place only. Unlike what is explained above the price reflects what another individual is prepared to offer. Therefore you will find that it will not exactly be the odds of the horses price.
Grand National Speciality Bets
As this is such a major betting race the Bookmakers do offer unusual bets some of which are
- How many horses will finish
- All Horses to Jump the first safely
- Winner to be trained in Ireland
These are just a few of the different types of bets that you can have and we will cover these in greater detail under Grand National Speciality Bets.