Greyhound Betting Guide: How to Bet on Greyhounds
The world of greyhound racing is fast-paced and exciting – with a top speed of just over 70km per hour, greyhounds literally give horses a run for their money. Greyhounds are definitely sprinters – most exhilarating greyhound races are over in just a couple of minutes.
Betting on greyhounds is great for punters who love quick results and lots of options coupled with the rush of witnessing the sleek athleticism of these magnificent dogs in full flight.
Greyhound Racing Betting Options
Want to know how to bet on greyhounds? First, you need to understand the different types of bets and what they mean. There are a number of different methods for betting on greyhounds, including:
- Greyhound Racing Win Bet
- Greyhound Racing Place Bet
- Each Way Bet
- Exotics
- Fixed Odds
- Best Odds
Greyhound Racing Win Bet
Pure and simple, you bet on a dog to win, and if it does, so do you! A win bet offers great odds as you’re betting on the exact outcome of the race. This is a good option if you feel confident about a particular greyhound.
Top Tip: Try converting the bookmaker’s odds to a probability percentage to help you understand a greyhound’s chance of winning. Find out how below.
Greyhound Racing Place Bet
This bet means you can bet on a greyhound to come 1st, 2nd or 3rd. A ‘place a bet’ is a safe option, but of course pays less as your odds of winning are much higher than a winning bet. In probability, any time the word ‘or’ is used, it increases your odds of winning. So, if you’re betting that a greyhound might come 1st OR 2nd OR 3rd, the odds of a correct bet are higher, so your return on the bet will be lower.
Each Way Bet
Think of placing an each way bet as making two bets at once. One that the greyhound will win, and the other that it will place. 50% of your bet will go towards each result. So, if you put $10 on a greyhound in an each way bet, $5 will go towards a win and $5 towards a place. If the greyhound wins, you’ll collect winnings for both bets (as a win counts as 1st place), but if it places 2nd or 3rd, you’ll only collect winnings for that $5 bet.
Exotics
Exotic bets involve predicting the exact order of multiple placegetters. As this is much harder to guess than a win or each way, the odds are long and will result in a higher payout for a win.
- Exacta – picking the 1st and 2nd placed greyhounds in order. You can improve your chance of winning with a box exacta, but of course, the more greyhounds you nominate, the lower your payout will be.
- Trifecta – picking the first three runners in order. This is trickier than the Exacta as you need to accurately choose the first three placegetters in their exact order. For an easier option, you can opt for a box trifecta, where if your runners come in any combination of 1st, 2nd and 3rd, you get a payout.
- Quinella – nominating two or more runners to place 1st and 2nd. Unlike an exacta, the dogs don’t have to finish in a nominated order; if any two greyhounds finish in 1st and 2nd, it’s a win. Your dividend on a Quinella bet will depend on the odds of the two individual greyhounds.
- First four – Select the first four runners in order. The same procedure as the Exacta and Trifecta, but with four greyhounds.
- Quadrella – Picking the winners of four separate nominated races. This bet type involves choosing the 1st place getter of four different races. Again, the smaller the number of runners nominated, the better the dividend.
Fixed odds
Fixed odds bets allow you to lock in the odds when you make a bet, so if the odds fluctuate, it won’t affect your bet. Fixed odds bets are a good option if betting is almost closed and a greyhound’s odds start dropping dramatically. If this happens 30 minutes before the race, there’s a good chance they’re on for a win – and the odds will keep dropping. A fixed odds bet, in this case, will get you the best odds available on a probable winner.
Best odds
Best odds betting guarantees that if the odds improve after you’ve placed your bet, you’ll get the best starting price. So, if you place a best-odds bet early and the odds on that bet improve, you’ll get the improved odds as your starting price. Best odds bets are often offered as a promotion and may not be available on every race or bet.
Factors to consider when betting on greyhounds
First developed in the USA, greyhound racing has since found popularity worldwide. With fewer variables and a narrower field than horse racing, greyhound racing is a popular betting option for new and experienced punters alike.
If you want to bet on greyhounds with confidence, take a look at these tips on picking the right greyhound.
1. Study recent form
To build up a picture of a greyhound’s overall performance, it’s important to study several elements of its recent form, including;
2. Confidence
If a greyhound is on a good streak, they’ll feel confident, which has a positive impact on their performance. If they’ve had a bad time, they’ll likely be down and underperform.
3. Early Speed
If a greyhound is quick out of the gate, it means a clear run rather than jostling for position, which gives them a crucial edge.
4. Stamina
Can the greyhound last the distance? Are they suited to this race length?
5. Determination
How tenacious is the dog? How much does it want to win? Does it have a fighting spirit?
6. Placings and winnings
Check out the greyhound’s stats. Find out the number of races run by the greyhound and how many times it has won or placed.
7. Grade
Think of it in terms of weekend sport – if your footy team gets put down a grade you suddenly find the games easy, whereas if your team is put up a grade you may struggle to win at first. It’s the same with greyhound racing. If a greyhound has recently changed grades it may impact their performance.
8. Running style
There are a few factors to consider in terms of a dog’s running style.
Firstly, are they a rails runner or a wide runner? Some greyhounds like to race close to the rails, others prefer to run in plenty of space.
Secondly, some dogs prefer to run at the back, others prefer the front. If a dog is a front runner they need to get away quickly and cleanly to get a lead. Back runners don’t mind jostling and forcing their way through to the front.
9. Starting position
The starting position has a major impact on a greyhound’s performance based on their running style. If a rail runner draws box 8 they’re instantly at a disadvantage and vice versa for a wide runner in box 1. If a rail runner and wide runner are placed next to each other it can lead to clashes out of the gate as they vie for their preferred position.
10. Trainer performance
As with horses, a greyhound’s trainer can have a huge impact on their success. Don’t forget to look into trainers when doing your research. You may find there are trainers who achieve consistent results.
11. Track type
How well is a greyhound suited to a track? Check their previous performance at this track, or a similar track, if you can. Not all dog tracks are built the same way. For example, if a track has tight turns it may be better suited to smaller, more nimble greyhounds.
12. Calculating probabilities
It may help you get your head around greyhound betting to convert odds to probabilities or percentages.
Decimal odds: odds expressed as decimals (for example 1.35 or 2.60) can be converted to percentages by dividing 1 by the odds. So, 1 divided by 1.35 becomes 0.74, or 74%
Fractional odds: for odds expressed as a fraction or x:y format (for example, 4:3), probability can be calculated by dividing the denominator by the numerator plus the denominator. So, 3 divided by (4+3) is 3 divided by 7, which becomes 0.43, or 43%.
13. Get expert advice
There are analysts and experts out there who live and breathe greyhound racing. Listen to what they have to say. Read articles, listen to podcasts, and do research. The more data you have to reference, the better informed your decisions will be, and the better you’ll be at betting on greyhounds.
14. Bet Wisely
Once you’ve considered which greyhound to bet on, make sure you bet the right amount. Never bet more than you can afford to lose, no matter how certain you feel about a bet.
Putting it into practice
With practice, study and a bit of luck, betting on greyhounds can be a great experience. With perseverance and patience, you can gain an in-depth understanding of the greyhound racing world and become a major player at greyhound betting.
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