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The Science of betting – Bet types

The pros and cons of bet types for Australian horse racing

Elite Racing Data’s recommended betting strategy is very simple. Set aside a physical betting bank and place a WIN Bet with the recommended betting percentage on each selection.

There is no technical betting system or odds watching, we tell you what to bet on and how much to bet.

All four of Elite’s services offers a list of bets with our recommended bet size.

That style of betting is so highly recommended, for good reason. The bet sizes are determined to allow for the best chance for long term steady growth. They are conservative enough to see out a bad run with sufficient bank to bounce back and take advantage of the turnaround that always comes after a slow period.

Although Win betting is our main strategy, there are many ways Elite Racing’s members are taking advantage of the many opportunities our information offers.

Top 2 Win betting

Taking the top 2 rated horses from our ratings sheet and placing a win bet on them both. You must be very selective when applying this form of betting, as it can be a very large outlay with the extra bets. With Elite’s top two strike-rate of close to 50%, this is a great way to have fun during the meeting with constant collects.

Place betting

A “Place” bet is betting on your horse to finish either first, second or third. Winning the race is great, but if you only have a place bet and your horse wins, you won’t win any more than if you’d finished third. The odds for place bets are typically in the range of one-quarter of win bets.

Most online sports betting websites require a minimum of eight horses in the race to pay three places. If there are less than eight horses, there will be “No Third Dividend” (NTD) and only the top two places will be paid.

Each Way

An “Each Way” bet is actually the same as placing both a “Win” bet and a “Place” bet. If your horse wins the race, you’ll win both bets, but if the horse finishes second or third, you’ll lose the “Win” bet and win the “Place” bet. If your horse is at big odds and finishes second or third, this can still be a profitable play, but for shorter priced horses, your overall result will be close to breakeven.

Race to Race “All Up” Multis

AKA “Parlay”. Sometimes we have two short-priced favourites rated on top in separate races. Betting on them both does not offer much fruit, even if they both win.
For example, Cascadian in race 3 @ $2.10 and Nature Strip in race 6 @ $2.00. If you place a $100 win bet on each horse, your best outcome is $210 profit from the $200 outlay. But, if Nature Strip wins, you break even, If Cascadian wins, you make $10 profit. Not much incentive for such a large outlay.

An ”All-Up” Bet means you place one $100 bet on them both to win. The risk is they both must win for you to have a collect, the reward is the odds of the two horses are multiplied. So, instead of outlaying $200 for $210 profit, you are outlaying $100 for $320 profit.

“Exotics”- Trifectas and First Fours

There are many ways to bet on a Trifecta. Elite Racing has a recommended way of betting on Trifectas and First Fours, which is outlined on our Race-Day info each week.

3 horses for First, Those three horses plus another six for second and third, then those nine horses and another three for fourth. 3 by 9 by 9 by 12. You have three horses for the win, nine horses for second and third then twelve horses for fourth.

When you “box” your exotic bets, you are picking a range of horses to finish in the top two/three of the race. These bets are more expensive as you are betting on all combinations of the horses selected in the bet. If any of combination of your horses finishes one-two or one-two-three, then you’ll win.

These types of bets allow you to have a “Flexi Bet”. You choose the amount you would like to outlay, and you receive a percentage of the dividend, relative to the amount you bet.


To win the Quaddie, you must pick the winner in the last four races of the day. Elite Racing’s Race-Day Pro Sheet is extremely helpful for this.

You can select more than one horse in each race, but each horse will increase the number of combinations and the cost if you wish to have 100% of the bet.  You can also set the amount you wish to bet, allowing you to choose more combinations, at a smaller outlay (flexi-bet).