Forecast betting is most common in horse and greyhound racing, although it’s sometimes used for other sports too.
Types of forecast bets
There are several popular types of forecast bets, including the:
Pros and cons of forecast betting
The advantage of forecast bets is that payouts tend to be high. The risks are high too though, because all selections have to finish the race in the order specified in your forecast.
Despite the risks, forecast bets are extremely popular with punters. Because the rewards are big, just one win may compensate you for several losses.
The return on a winning forecast bet will depend partly on the size of the field. For example, your chances of winning are much higher if there are fewer horses in a race than if the field is larger, with more horses running – and this will be reflected in the payout you can earn.
One complication with forecast bets is that you can’t tell exactly how much you’ll be paid out on a winning forecast if the entries are listed by starting price (SP). In these cases specialised industry software is used to compute the returns payable on winning forecast bets, based on the starting price (SP) for each selection and on factors like the size of the field.
Often bookmakers accept very small stakes on forecast bets, so you can play around with this type of bet without risking significant losses – and even with a small stake, you just might win a sizeable payout.
- Cover all the possible orders in which any three selections could take first and second place.
- Find out what a combination tricast bet is and how it works.
- Less risky than a straight forecast but still offering potentially high returns.
- Never mind just predicting the winner – bet on who'll finish second as well.
- Find out what a tricast bet is and how to place one.