How to read horse racing odds at Sportsbet.ioSports and Crypto Betting Insights - Sportsbet Blog

How to read horse racing odds at

How to read horse racing odds at

Look no further because sports betting for Thoroughbred races is available on The bookmaker covers all graded stakes around the world complete with participants’ data for reference. Before placing your bets, find out how to read the odds here.

Horse race betting involves two major factors: markets and odds. The betting markets are the outcomes of any horse racing event that you can place a stake on—like which horse wins the race.

Meanwhile, betting odds show how big or small are the chances of these outcomes happening in the race. They also show you how much your possible payouts might be if your bets are correct. With horse racing odds explained in simple terms, find out more about how they work below:

Bet on exciting horse racing events here

How to bet on horse races at

Betting on horse races is fairly straightforward thanks to’s user-friendly interface. Go to the bookmaker page then look for the category labelled ‘Thoroughbred’. This lists all scheduled major horse races within the next two days.

Those that are soon to start are under the ‘Next to Jump’ tab but events within the next 24 hours are under ‘Today’. The ‘Tomorrow’ tab lists all races happening beyond that while ‘Upcoming’ are races scheduled much later.

Horse race annual campaign structure

Every country has regulatory bodies handling horse races. Most of the races covered by are organised by some of the following boards:

  • Australia: Australian Racing Board (ARB) and Racing Australia

  • England: British Horseracing Authority (BHA)

  • France: France Galop

  • Hong Kong: Hong Kong Jockey Club

  • Ireland: Ireland Horseracing Regulatory Board (IHRB) and Horse Racing Ireland

  • Japan: Japan Racing Association (JRA) and National Association Racing (NAR)

  • United Arab Emirates: Emirates Racing Authority (ERA)

  • United States: Breeder’s Cup and the Jockey Club

Each of them control how every horse is appraised and who is qualified or invited to every event within their respective jurisdiction. They have their respective big events and the Triple Crown series. Their annual schedule of events are consistent but they can announce a major change (like the introduction or omission of a race) in advance to give punters a heads-up.

Learning more about a specific race

Every race within the next 2 days are on listed as dates in a table under the appropriate tab based on schedule. The downward list includes the names of the stadiums hosting multiple events then the dates across to the right are races.

If you want to know more about a specific race, click on the date and time on the table. Doing so will bring up the event filled with details about the race. That includes the tracks, the list of competitors, odds, and weather forecast.

Types of horse race bets

There are three types of horse racing bets you can make at All of which are presented as a horse racing odds list/table next to the names of every participating horse including their chances of winning. Choose one if you believe that the associated horse will finish the race in that position. Here’s what each of them mean:

  • Win: The horse finishes the race in the number 1 position.

  • Top 2: The horse needs to finish in either the top 1 or top 2 ranking.

Use the bet slip to manage your bets

Bets you make in can be managed in the bet slip feature found at the bottom left of the screen. It will list the predictions from horse racing odds but they’re not finalised yet. You have to input how much you are staking on each race then click on ‘Place bet’ to finalise.

You also can bet on more than one outcome per race with their mutually exclusive stakes. Understanding odds in horse racing is the secret to finding out the payout to your bet. If you are betting on different horses, you can balance the stake to cover the loss of your other bets.

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How to read horse racing odds

Think of horse racing odds (ration or multiple) as a way to present your potential payout. It scales with the risk factor of your bets, that’s why its numbers are lower for favourites and higher for underdogs. is calculating horse racing odds constantly based on a variety of factors to give you the best risk and reward betting rate in the sport.

For instance, if horse A has odds of 3.25 while horse B with 1.25. Horse A is the underdog while the former is the favourite. You have more chances of winning if you wager on the favourites but the payout is not that big. On the other hand, betting on the underdog is riskier but pays out more.

What are horse race betting odds formats at

How to read horse racing odds can be further simplified by selecting a different format. supports three kinds and you can toggle between them at any time.

  • American odds: The odds are written in hundreds or thousands with a positive (+) or negative (-) symbol. Positive odds mean that’s how much you are winning if you bet exactly USDT100. If you’re betting on negative ones, then you must bet that much in United States dollar (USD) to win exactly USDT100.

    • Profit in positive American odds = (odds/100) x size of the bet

    • Profit in negative American odds = size of the bet / (odds/100)

There are no negative American odds in horse race betting. That means the payouts are always going to be much bigger than your stakes.

  • Decimal odds: The horse racing odds system in this format are written with 3 or more digits. You can calculate your payout just by multiplying it with your stakes. This will count both your stake back as well as the profit you stand to gain from a winning wager. Many consider this as the easiest horse racing odds calculation method because this is its formula:

    • Payout in decimal odds = size of your stake x (odds)

  • Hong Kong odds: Odds under this format work the same way as decimal odds but the cashback from a winning bet is factored out of the equation. That means you just need to take the standard decimal odds. Then, remove 1.00 from that to get Hong Kong odds. Profit is calculated by multiplying it by the size of the stake.

    • Profit in Hong Kong odds = size of the stake x (odds)

How to read horse racing odds is easy if you understand the formats being used. Choose whichever you think is easiest to understand so that it will just take a glance to understand your options. All of these types of horse racing odds achieve the same purpose of showing you the risk and reward of a bet so choosing between them is a matter of taste.

What are factors that affect horse race odds?

Horse racing odds work by simplifying nuances in horse racing. There are plenty of factors you should include in estimating who most likely the winner is. Pundits and bookmakers already put these into account but you should also research them to draw your conclusions:

The level of competition

Every horse race is graded as Group 1 to 3 in descending order. Group 1 (G1) are the highest level of competitions while G2 and G3 are each lower-tier than the previous one. Every horse can move up or down but only if their regulatory board allows them. This means horses that are consistently winning G1 races won’t end up in a G2 roster, keeping every event fair.

The horses’ feats relative to each other

As stated, horses can move up or down their grades. Thus, a quick look at their history will show you if they once qualified at a higher grade and how well they performed there. A G1 participant will likely be the favourite in a G2 roster filled with Thoroughbreds who have not stepped into a race of a similar level.

A quick scan of the horse’s race should help you see all of their history since they debuted. provides these pieces of information on the bookmaker.

How horse racing odds work doesn't include nuances so you can use this feature to your advantage. Just click on the icon next to the name of the horse you want to know more about.

Pundits’ opinions

If you are pressed for options then it’s better to listen to the experts. Pundits share their views on upcoming races all the time, especially G1 events that most bettors are looking forward to. They can give you more insights on an upcoming match.

Couple that with horse racing odds automatic calculation and you can streamline sports betting for your convenience. Pundits will typically have opinions that will alter the odds to favour one horse over the other. You can use this as a horse racing betting guide for major events.

Bet on horse races at is the best website for horse racing crypto betting. Bet using Bitcoin, Ethereum, top stablecoins and more. Here are the supported cryptocurrencies you can use when horse race betting at

  • Bitcoin (BTC)

  • Tether (USDT)

  • Ethereum (ETH)

  • Tron (TRX)

  • Litecoin (LTC)

  • Ripple (XRP)

  • Cardano (ADA)

  • Dogecoin (DOGE)

  • Binance Coin (BNB)

  • Polygon (MATIC)

  • USD Coin (USDC)

Stake any of these and win profit if your race predictions are correct. Bitcoin horse racing betting, for example, rewards you in BTC if you bet using that currency. The same can be said for USDT bets for horse races and the others.

Learning how to read horse racing odds is only the beginning of your horse race betting journey. The next step is to enjoy everything that has to offer like promotions. Horse racing betting with cryptocurrencies gives you plenty of opportunities to win by claiming fun bonuses.

Use Bitcoin to bet on horse races so that you can earn loyalty points quickly. This will help you climb the milestones of’s Clubhouse. It is also possible with horse racing betting with USDT if you prefer simpler assets. All of these are possible in You just need to take the time understanding horse racing odds to maximise all its features.

Bet using USDT and other crypto on sports events at


The information provided by the blog above on is for general information purposes only. All information on the Site is provided in good faith, however, we make no representation, warranty, or guarantee of any kind, express or implied, regarding the accuracy, adequacy, validity, reliability, or completeness of any information or betting tips on the Site.

Clarence Clarke20 Nov 2023

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