A bookie at the races
Gambling may seem a complicated pastime with a lot of strange terminology but it’s easy to learn the basics, which are all you need to understand how to make the best bets.
These days, you can bet on anything and everything so learning what it’s all about will come in handy if you fancy a flutter on the Grand National or even a bet on the latest reality TV show.
Understanding odds and placing a bet
Whether it’s at the racecourse, in the bookmakers or online, placing a bet is the same and very simple.
You choose the outcome of an event, hand over some money (your stake) and get it back plus winnings if you’re right.
"The key to understanding betting is knowing how to read the odds."
Bookmakers want you to bet with them and so offer you the best odds they dare on every selection of an event.
They try to take into account every factor that could affect the outcome but it’s not an exact science and they don’t always get it right.
The key to understanding betting is knowing how to read the odds.
To put it simply, odds represent the chance of a particular result happening, but in gambling they also contain all the information you need to know how much you could win.
1st February 2007
