Behind all the energy and excitement of betting on the races, there’s a simple system that’s easy to learn once you understand a few basics. Punting in Australia has a rich history and a strong cultural tradition behind it. Whether it’s a weekend trip to the local races or a casual flutter on the Melbourne Cup, betting on horses can be fun when you know what you’re doing. This guide breaks down what you need to know before placing a bet, how to read the form, and how to understand what’s happening on race day.
What do you need to know about betting on the races?
Betting on horse racing is more than just choosing a horse with a lucky-sounding name and placing a large sum of money on them to win; it requires a more calculated approach. There are tools, guides, and small bits of know-how that can make the whole experience smoother and a lot more enjoyable. Here’s what you need to know:
1.Know what you need
When you arrive at the track, one of the first things to grab is a racebook. You’ll find them at stands and concierge desks around the course. A racebook gives you details about each race, including the horses, jockeys, and trainers. It’s basically your cheat sheet for the day. Inside, you’ll also find the form guide, which helps you make sense of which horses might perform well.
2.Know how to read form
The form guide is packed with valuable information. It lists each horse’s previous results, showing how they’ve performed in recent races. You’ll also see details about their jockey, trainer, and even the colour of the silks they’ll be wearing, so you can spot them in the race. The numbers in the form, called form figures, show finishing positions.
A horse that’s consistently near the top is usually in good shape, while one with lower numbers might be due for a comeback. It’s also worth checking the horse’s recent track conditions and distances, as some perform better on certain types of tracks or over shorter runs.
3.Know the characteristics of a winning horse
Some punters rely on numbers, while others prefer to trust their eyes. If you’re more of the visual type, take a walk to the parade ring about fifteen minutes before the race starts. You’ll see each horse up close before they heads out to the track. A horse in top form will look calm but alert, with a shiny coat and steady breathing. Too much sweat, especially if it’s not a hot day, can be a sign they’re burning energy early. You want a horse that looks focused but not restless. If you can add this to other information you’ve gathered, you might be able to place a very lucrative bet.
4.Choose the right bookie
The term “bookie” is short for bookmaker. Bookmakers offer you a variety of different odds that predict the outcome of the race; your job is to consider these odds and use them to place a bet. You’ll find bookies around the track, each offering slightly different odds. Odds represent how much money you’ll win if your horse comes through.
The more popular a horse is, the lower the odds, meaning a smaller payout but a higher chance of winning. Backing an outsider with longer odds might get your heart racing, and if it pays off, the return is bigger. If you prefer, you can check out the odds online with a site like Ladbrokes racing odds. This makes things easier than having to walk from bookie to bookie looking for the right odds.
What do you need to know about the races?
Now, knowing how to bet without understanding the basics about the races is just going to shoot you in the foot. So, here’s what you need to know about the races:
1.The ‘going’
When people at the track talk about “the going,” they’re referring to how firm or soft the track surface is. It’s one of the biggest factors in how horses perform. Some love a dry, firm surface, while others thrive in softer, wetter conditions. Paying attention to the going can help you narrow down which horses are likely to do well that day.
2.Track conditions
Stewards assess track conditions before the race. They’re rated from Firm 1, which means a hard, dry track, to Heavy 10, which means it’s soaking wet. Here’s how the scale works:
- 1 - The track is firm, dry, and hard
- 2 - It’s just firm
- 3 - The track is good, not too soft
- 4 - has some give to it
- 5 - track is a bit softer
- 6 - moist, but not bad
- 7 - will probably chop out
- 8 - wet, heavy, will chop out
- 9 - very wet track
- 10 - heaviest track, very wet
Final thoughts
Punting isn’t just a pastime, but it's a rich part of the country’s racing spirit, from small regional tracks to the big city carnivals. While it’s exciting to back a winner, punting is just as much about enjoying the day, the crowd, the energy, and the thrill of seeing your horse charge down the home straight. When you’re new to betting on the races, start small, learn as you go, and most importantly, keep it fun. A bit of knowledge goes a long way, and with practice, you’ll soon find yourself talking form and track conditions like a seasoned punter.
This article is paid content. It has been reviewed and edited by the Eastern Eye editorial team to meet our content standards.
