You can bet on the outcome of greyhound races and several sporting events. To place a bet, you go to a sportsbook, physical or online. You could also bet over the phone with many sportsbooks. Note that a sportsbook is not the same as an oddsmaker.
The sports book simply accepts sports bets. An oddsmaker is a person who sets the betting odds. You need to state what you are betting on by making a selection, the type of bet and the amount you are wagering. Your selection will obviously depend on the odds offered, so you will want to examine the range of odds available before you make a decision.
There are many types of bets you can place. Some sportsbooks may offer more betting varieties and combinations than others. Below is a list of the more common types of bets used in greyhounds racing. Different countries may use different terms for how to bet and also for the types of bets.
Type of bets Straight bet or Single or Win bet. This is the simplest and most common bet. You bet on a winner at given odds. You collect only if your chosen greyhound is the first across the finish line. A wager for place means you collect if your selected greyhound finishes either first or second. The third greyhound across the finish line.
A wager to show means you collect if your selected greyhound finishes either first, second or third. Across The Board. You make three individual bets on one dog to Win , Place , and Show. If your selection wins, you collect on all three bets. If your selection runs second, you collect on Place and Show bets. If your selection runs third, you collect the Show bet. Your total wager will be three times the individual bet. Combination Bet. Combinations cover from two to four greyhounds to win in chosen order.
Quiniela or Reverse Forecast UK. A bet placed on two greyhounds to finish first and second in either order. A bet placed on two greyhounds but they must cross the finish line in exact chosen order. A bet placed on three greyhounds to cross the finish line in exact chosen order.
A bet placed on four greyhounds to cross the finish line in exact chosen order. Twin Trifecta. A multiple pool bet. Two trifecta selections in two races. You select the winning Trifecta combination in one race and exchange that ticket for a second Trifecta in the following race.
One-half of the net Twin Trifecta pool will be paid equally to winners of the first half when those tickets are presented to be exchanged. The remaining half of the pool, along with any carry over will be to winners of the second half. If no one selects the second half correctly, the pool is carried over to the next racing performance.
Similar to the Twin Trifecta. You select the winning Trifecta combination in one race and exchange that ticket for a Superfecta in the following race. Titanic Tri-Super This operates the same as the Tri-Super, except you must correctly select the Trifecta combination in the 5th Race and the Superfecta in the 7th Race. Daily Double.
Similar to an accumulator you select the winners of the first and second races on that day. You must place your bet before the start of the first race. Pick six winners in six races to share in a Jackpot prize. The rules and prizes will vary from race track to race track. The service is located on screens in the bookmakers' betting ring. If a punter believes a greyhound is paying overs a price greater than their estimated price the greyhound should be running at , the punter should then calculate what percentage of their bankroll should be gambled on the runner.
This is largely overlooked by most racetrack followers. It is what we refer to as the Risk Management process or Stage 2 of the betting process. Whilst the original Kelly paper detailing how the formula was derived will be too difficult for most readers to understand, the end formula is quite simply:.
We provide an example excel spreadsheet below and recommend readers experiment with inputs to get a feel for the model. The main caveat with the system, and any modelling system, is that the data input the edge needs to be reasonably accurate. Garbage in, Garbage Out! We believe the Giddy Up service provides adequate speed maps and pricing for each runner that punters can use as a starting point to help gain an edge.
It perhaps works best when Giddy Up's second and third favourites are mispriced by the market because too much money is directed at the favourite. An example of the Giddy Up screen is shown below. In this example, the fixed odds available for Black Magic Opal are slightly above the Giddy-Up estimate. For more optimal results, the system would likely work better if two parties manage it, one providing the probabilities of winning and the other the Risk Manager entering the data inputs and executing the bet.
This is because the formula can produce outlay amounts that may not be intuitive, especially should your bankroll grow and the outlays for each bet become much bigger. The model will also produce wild swings in balances that can throw a punter's confidence in the system, setting back punters or producing significant short term growth that instils an unrealistic level of confidence in the system which subsequently distorts future inputs.
When this occurs, punters can lack the discipline required and either ignore the recommendation or revise their probability inputs so that a bet can be made. Alternatively, punters can lay the favourite using Ladbrokes. An example excel spreadsheet model of the Kelly Formula can be downloaded here.
Disclaimer: Use at your own risk. The information above is of a very general nature and is provided as a guide only. The usual disclaimers regarding no acceptance or responsibility for accuracy apply, including the use of the sample excel spreadsheet.
The John Kelly Formula is merely a tool amongst many that may be of use to some gamblers. Giddy-Up also provides no guarantee that their service will generate any return in isolation. Giddy-Up is a service we subscribe to and we have no affiliation with beyond that subscription. See here for more information regarding problem gambling. If less than 8 runners, a place bet pays on only 1st and 2nd placings.
You can add more greyhounds to the mix to improve your chances. You can pick between 4 or 8 greyhounds in your bet. Don't feel embarrassed! You can select 'fixed price odds' which guarantees your price when you make your bet note that all on-course Bookmakers provide fixed price odds. Simply tell the TAB operator "fixed odds" when placing the bet.
The start is one of the most important factors to assess because a good start can mean a greyhound will avoid a squeeze. Here is a snap shot of a Speed Map, overlaid with some comments by ourselves:. Number 1 the red rug appears to have plenty of room here as numbers 2 and 3 appear to be slower starters based on recent race history. The number 1 box also produces the most winners see below "stats" , so we just want to then look at recent race times at Wentworth Park over m compared to the other greyhounds.
If we see
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|Betting prediction||Converting the betting odds into implied probabilities of winning may prove a more intuitive tool to use than viewing betting odds in isolation, especially for the novice. A bets 50k, B then silently puts out a single 1k chip is non-standard, strongly discouraged, subject to penalty, and will be interpreted at TDs discretion, including being ruled a full call. The main caveat with the system, and any modelling system, is that the data input the edge needs to be reasonably accurate. If a greyhound comes under Starter's Orders but refuses to race, any bets related will be classed as losers. Chips of removed denominations that do not fully total at least the smallest denomination still in play will be removed without compensation. One-half of the net Twin Trifecta pool will be paid equally to winners of the first half when those tickets are presented to be exchanged.|
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|Dog racing betting rules in poker||Picking the winners of six consecutive races. If action changes, the OOT bet is not binding and is returned to the OOT player who has all options including: calling, raising, or folding. The John Kelly Vc sports betting is merely a tool amongst many that may be of use to some gamblers. It perhaps works best when Giddy Up's second and third favourites are mispriced by the market because too much money is directed at the favourite. Making simultaneous selections on two or more races with the intent of pressing the winnings of the first win on the bet of the following race selected, and so on. Disclose contents of live or folded hands, 2. Select the trifecta for the 8th race.|
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