In days past, betting on horseraces or greyhound races was usually limited to bookmakers, betting shops, or informal pools. As the industry has grown and gained an online presence, punters have been able to take advantage of advance-deposit wagering.
This is the most common form of placing bets on races via the Internet or by telephone. Punters first deposit funds into their account, and then place bets. The amounts they bet are then deducted from their account balances.
This form of wagering is very different to that offered by credit shops. In such places, punters can place bets without first funding accounts or paying when they place bets. Instead, they can settle their betting accounts at the end of the month.
Online Advance-Deposit Wagering
Online bookmakers are usually also compatible with mobile devices. They offer 24-hour access to races run at local tracks, as well as to races in other parts of the world.
They also offer wagering on the racing world’s major international events such as the Melbourne Cup, the J&B Metropolitan Stakes, the Dubai World Cup, the Royal Ascot, and the Kentucky Derby.
Such sites also publish racing results, current odds, track information, and details about participating horses and the jockeys that will ride them.
How it Works
Punters would first need to register accounts with online bookmakers that offer advance-deposit wagering on horse or greyhound races. This is usually done by completing a registration form in browser.
Once a punter has created and confirmed an account, they would need to make a real money deposit. This would be done using the site’s banking service, which allows for both deposits and withdrawals.
Deposits for advance-deposit wagering can be made using methods such as credit cards, e-wallets, prepaid cards, bank transfers, and, occasionally, mobile billing payment services. When the deposit amount reflects in the punter’s account balance, they can then go on to select the race on which they would like to bet.
Once they have selected the horse on which they want to bet, as well as the type of bet they wish to place, it will be added to their online betting slip.
Advance-Deposit Wagering Options
Advance-deposit wagering usually allows for various types of bets, rather than limiting punters to standard Straight bets on which horse or hound will win a race.
Among the other betting options available to punters are Place bets and Each Way bets. With the former, punters bet on a horse to place second, third, or fourth in a race. With the latter, punters bet on a horse to either win, or to place second, third, or fourth with Caulfield Cup betting Odds.
First Four bets are placed on four horses to come first, second, third, and fourth, and Quinella bets are placed on certain horses to place first or second. Exacta bets are placed on two horses to place first and second. Trifecta bets are placed on three horses to place first, second, and third, in that order.
Advance-deposit wagering sites usually also offer multi-bet options. Among such options are Parlay bets, which are also known as Accumulators and All Ups. These bets are placed on various horses to win in a racing series. Doubles are bets placed on horses to win two different races, and Trebles are bets placed on horses to win three different races.