Horse Betting Basics
You have never bet on horse racing before? In that case, the following information should be helpful to you. If you are an experienced punter, you are of course also invited to read it.
How do I know I am betting on the favourite?
A favourite usually is the horse that is expected to win the race. With tote betting, the odds are what makes the favourite. They tell you the returns you can expect when the corresponding horse wins. Contrary to sports betting, the odds displayed on the bet slip are not fixed odds. They can and will change until the race has been started and no more bets can be placed. Tote odds are influenced by bets placed. If many people bet on the same horse, its tote odds are shortened, meaning the expected returns are reduced because more people share the pool if the horse wins. The more people bet on a specific horse, the shorter the odds. The horse with the shortest odds is called the tote favourite.
The final odds are are published together with the race result. Your winnings are calculated the same way as in sports betting. Winning odds of 21/10 mean you receive your stakes back and and £21 for every £10 you bet. For example, if you placed a £5 bet on a French Opera victory, your winnings are 21/10*5=£10.50 
Are there other bet types?
You can increase your chances for a successful bet by choosing a place bet instead of a win bet. The place bet wins not only if your horse comes in first, but also when it comes in second or third (the latter under the condition that at least eight horses are actually racing). The chances for a successful bet are increased, the odds on the other hand are usually lower than in win bets.
It's the opposite with exacta and trifecta bets. Here you have to predict the horses finishing first and second (exacta) or first, second and third in the correct order. These bets are more difficult to win, but the odds are worth it - trifecta odds of at least 100/1 are the rule and not the exception.
How to increase your chances with exacta and trifecta
Especially for the more difficult exacta and trifecta bets, combination bets have proven very helpful. A combination bet collects several predictions for the same race and therefore several bets on a single bet slip.
In our example the punter (better) expects number 4 to be victorious, is however a little unsure about the horses ending second and third place. This betslip contains a winning bet in any of the following trifecta results: 4-1-3, 4-1-5, 4-3-1, 4-3-5, 4-5-1, 4-5-3 and therefore contains a total of six bets.
Here the punter is convinced that two of the horses with the numbers 1, 2 and 3 will finish first and second. To cover all possible combinations, he selects exacta, then full combination in the row below and ticks the boxes in the only available column C. This bet slip will win with any of the following results: 1-2, 1-3, 2-1, 2-3, 3-1, 3-2 and contains again six bets.
More useful information
To support your chances for a successful bet, JAXX is offering you some necessary and useful information. You will find on every bet slip the weight the horse carries, next to the horse's name. This is of special importance in so-called handicaps, where horses carry different weights to equal their chances to some extent: The more successful a horse has been in the recent past, the more weight it has to carry in a handicap.
The short form on the bet slip lists the recent results of a horse, beginning with the most recent. The digit 0 represents a rank lower than 9, P means "Pulled Up", F means "Fell".
JAXX will also supply you with tips from our experts for most races in the United Kingdom. Just follow the link tips in the head of the bet slip. The tips usually contain predictions for the horses expected to come in first, second and third.