SportsThoroughbred racing: speed, prestige and how to bet on it
An introduction to thoroughbred racing: flat racing and jumps, what form, going and the draw tell you, and how win, place and forecast markets work.
3 min read
Sports · Updated
Horse racing betting, from the race card up.
A horse racing bet backs a runner to win, to finish in the places, or to land an exact finishing order. An each-way bet splits your stake between the win and the place. King Exchange covers British, Irish, international and Indian racing.
Racing at a glance
Race-day markets- Core bets
- Win, place, each-way
- Big meetings
- Cheltenham, Ascot
- Indian racing
- Five racing centres
- Key factors
- Form, going, draw
- Odds style
- Decimal
The short version
Key takeaways
- 1You can back a horse to win, to finish in the places, or to land an exact finishing order.
- 2An each-way bet is two equal stakes, one on the win and one on the place.
- 3Form figures read left to right, with the latest run on the right.
- 4King Exchange covers British, Irish, international and Indian racing, including Mumbai and Bengaluru.
Bet types explained
What can I bet on in a horse race?
You can bet on a horse to win, to place in the paid places, or each-way, which is two equal stakes on the win and the place. Forecasts name the first two in order and tricasts the first three; they pay much more than a win bet, but the order has to be exact.
Win
Your horse has to finish first. It's the simplest bet, and most quoted prices refer to it.
Short-priced favourites lose often. Check the form before you back one.
Place
Your horse has to finish in the paid places, usually the top two, three or four depending on the size of the field.
Returns are lower, but you have more than one way to collect.
Each-way
Two equal stakes, one on the win and one on the place. A ₹200 each-way bet costs ₹400 in total.
Works best on bigger-priced horses in large fields.
Forecast
Name the first and second horses in the correct order. A reverse forecast covers both orders for two stakes.
Smaller fields make forecasts easier to land.
Tricast
Name the first three horses in the exact order they finish.
Hard to land. Keep the stake small and treat it as a long shot.
Ante-post
Bet days or weeks before the race, often at a better price than on the day.
If the horse doesn't run, an early bet can lose. Check the market rules first.
Reading the card
How do I read a race card?
A race card lists every runner with its form figures, jockey, trainer, weight and draw. Form figures read left to right, with the latest run on the right, so 3-1-2 means third, then first, then second last time out. A 0 means outside the first nine, and P, F or U mean pulled up, fell or unseated.
These are the things to check on the card before you pick a horse:
- Form
- Going
- Draw
- Jockey
- Trainer
- Weight
Example form · 3-1-2
- 3Three runs ago
- 1Two runs ago
- 2Last time out
Form codes
- 1 to 9
- Finishing position
- 0
- Finished outside the first nine
- P
- Pulled up
- F
- Fell
- U
- Unseated rider
- - or /
- A break between seasons
Ground conditions
What is the going in horse racing?
The going is the condition of the ground on race day, measured from firm through good to soft and heavy. Some horses run best on fast ground and others prefer it soft. Check each runner's record on similar going before you bet, especially after rain.
01
Firm
Fastest ground
02
Good
Middle of the scale
03
Soft
Slower, more testing
04
Heavy
Slowest ground
Each-way terms
How does an each-way bet pay out?
An each-way bet is two stakes. The win half pays at the full price if your horse wins. The place half pays a fraction of the price, often a quarter or a fifth, if it finishes in the places. A winner collects both halves; a placed horse collects only the place half.
Take ₹100 each-way at 9.00 with one-fifth place terms. It costs ₹200. If the horse wins, the win half returns ₹900. The place half is paid at a fifth of the win profit plus the stake: (9.00 − 1) ÷ 5 + 1 = 2.60, so it returns ₹260. That's ₹1,160 back for a winner, or ₹260 if it only places.
The number of places depends on the field size and the race type. Small fields may pay two places, and big handicaps can pay four or more. The terms are shown with each market.
Each-way calculator
Settlement
What happens if my horse doesn't run?
If your horse is withdrawn on the day, bets on it are void and your stake goes back to your balance. Ante-post bets placed before final declarations normally lose if the horse doesn't run, so check the market rules before betting early. All racing bets settle on the official result.
Official result
Bets settle on the official result at the end of the race.
Horse withdrawn on the day
Bets on a runner that doesn't take part are void, and your stake goes back into your balance.
Ante-post bets
In racing, early bets placed before final declarations normally lose if the horse doesn't run. Check the market rules before you bet early.
Dead heat
If horses tie and the market has no tie option, your stake is split equally between them and each part is paid at full odds.
Indian racing
Can I bet on Indian horse racing?
Yes. King Exchange covers meetings at Mumbai's Mahalaxmi course, Bengaluru, Pune, Hyderabad and Kolkata, including the Indian Derby early in the year. Indian race cards use the same form format as overseas racing, so everything on this page applies to them too, on the same ID as your cricket bets.
- Mumbai (Mahalaxmi)
- Bengaluru
- Pune
- Hyderabad
- Kolkata
Racing calendar
Which big meetings can I bet on?
You can bet on the headline meetings of the racing year: the Indian Derby at Mahalaxmi early in the year, the Cheltenham Festival in March, the Dubai World Cup, the Grand National in April, the Epsom Derby and Royal Ascot in June, and the Melbourne Cup on the first Tuesday in November.
| Meeting | Where | When | Headline race |
|---|---|---|---|
| Indian Derby | Mahalaxmi, Mumbai | Early in the year | Indian Derby |
| Cheltenham Festival | Cheltenham, England | March | Gold Cup |
| Dubai World Cup | Meydan, Dubai | Late March or early April | Dubai World Cup |
| Grand National | Aintree, England | April | Grand National |
| Epsom Derby | Epsom, England | Early June | The Derby |
| Royal Ascot | Ascot, England | June | Gold Cup |
| Melbourne Cup | Flemington, Australia | First Tuesday in November | Melbourne Cup |
Getting started
How do I place my first racing bet?
Get your ID on WhatsApp, deposit ₹100 or more by UPI or bank transfer from an account in your own name, then log in, open Horse Racing and pick a race. Check each runner's form, the going and the draw, start with a win or each-way bet, check the place terms, and confirm before the off.
- 1
Step 1 of 4
Get your ID on WhatsApp
Message the official number and pick a username. Your login details arrive in the same chat.
- 2
Step 2 of 4
Add funds
Deposit ₹100 or more by UPI or bank transfer from an account in your own name, then send the UTR or a screenshot in the chat.
- 3
Step 3 of 4
Study the card
Log in, open Horse Racing and pick a race. Check each runner's form, the going and the draw.
- 4
Step 4 of 4
Choose a bet type
Start with a win or each-way bet. Set your stake, check the place terms, and confirm before the off.
18+ only
Before you place anything.
Betting carries financial risk and can become addictive. You must be 18 or over. Online betting laws differ from state to state in India, so check the rules where you live.
Responsible gaming tools- 1Decide what you can afford to lose before the race, and stop when you reach it.
- 2Don't chase losses with bigger stakes.
- 3Set a deposit limit by day, week or month. Support can add one for you.
- 4If betting stops being fun, ask support to pause or close your ID.
Sources
Where to check the facts.
This site opens in a new tab. King Exchange is not affiliated with it.
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Answers
Horse racing: your questions
Short answers on win and place bets, each-way payouts, withdrawn horses, form, the going and Indian racing.
8 questions
A win bet pays only if your horse finishes first. A place bet pays if it finishes in the paid places, usually the top two to four. Place bets pay less because they win more often.
Markets open before the off
Ready for the next race.
Ask for your ID on WhatsApp and you can be on a race card in a few minutes. 18+ only. Betting carries financial risk, so set a budget first.
- British, Irish and Indian racing
- Deposits from ₹100
- Same ID as cricket