The challenge of gambling on racing is to collect and analyze information and
then make a sound judgment on what to bet on, what type of bet to place and how
much you decide to wager

Racebook Rules

The challenge of gambling on horse racing or racebook is to collect and analyze information and then make a sound judgment on what to bet on, what type of bet to place and how much you decide to wager. That means that in order to be a winner, you need to take into account the following three main factors. They are:

The horse can be backed to win the race or for a place. In order for a horse to place it must come in either first, second or third place during the race. To win the horse must finish first. A popular choice is to back a horse each way. This means to back for win and place. E.g. 10 units each way means 10 units to win and 10 units for place making the total cost of the bet 20 units ($10) in WA.

This is when you must pick the winner of two races in a row.

This is when you can select your winnings from one bet to be automatically re-invested onto you next selection (either all up win, all up place or both). This gets a bit hard to take when you suddenly have a lot of money riding on your last selection after you have just backed three winners in a row and this last horse gets beaten.

Select the first two runners to finish. You do not have to nominate the order in which they finish. You may couple 3 or more selections in one bet to cover all combinations by "BOXING" or "CLOSING THE GATE" your selections. For example, a BOX QUINELLA of numbers 3, 4 + 5 would cost you $3 for a $1 bet and you would have the following combinations covered - 3 + 4, 3 + 5 and 4 + 5. If any of those combinations filled the first two placings, you would receive the Quinella dividend on the race.

You must select the first three runners to finish in the CORRECT ORDER. You can couple 3 or more selections in one bet to cover all combinations (again called boxing or closing the gate). E.g. , all combinations of numbers 3, 4 + 5 will cost you 6 units for a 1- unit bet and you would have all combinations of these three horses covered.

Select the winners of two CONSECUTIVE races, e.g. race 4 and then race 5.

In Victoria select the winners of four nominated races. Each race ( or "leg" ) is limited to 9 selections. If there are more than 9 runners in a "leg", runner no.10 is bracketed with no.9, no.11 is bracketed with no.8 and so on. If no one selects the winning combination, a countback procedure applies, i.e. the pool pays out on three winners and a second then three winners and a third etc.

This is again Victorian information I'm not sure if it applies to other states. Similar to a Quadrella in that you must select the winners of four nominated races however there are two major differences:

This bet type operates on Melbourne metropolitan thoroughbred racing only. Select the winners of the last 6 races at a meeting. If the winning combination is not selected, the pool jackpots to the next meeting.

Investment for all bet types is 1 unit and in most states a unit is 50 cents. However all dividends are usually displayed showing the dividend that you would get if you invested $1 (2 units). So remember you will probably only receive half of what the dividend shows in the screen.

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