Greyhound racing offers a good range of betting markets, from simple wins to complex exotics. Understanding each market helps you find value.
Win and Each Way
The simplest bets - back a greyhound to win, or each way (win plus place).
Each way terms in greyhound racing typically pay 1/4 the odds for places (usually first three in fields of 8+ runners).
Forecast Betting
Straight Forecast: Correctly predict 1st and 2nd in order.
Reverse Forecast: Your two selections must finish first and second in either order.
Combination Forecast: Select more than two dogs - any two in your selection finishing first and second wins.
Forecast betting offers much better value than win betting when you have strong opinions about the first two places.
Tricast and Combination Tricast
Tricast: Correctly predict 1st, 2nd and 3rd in exact order. Offers substantial odds.
Combination Tricast: Select three or more dogs - any three finishing in the first three positions win.
These are challenging but offer excellent value when you have firm convictions about the race outcome. Learn more about tricast betting strategies.
Quinella
Simply pick the first two finishers in any order. Easier than a forecast but typically offers lower odds.
Betfair Exchange
The Betfair Exchange has transformed greyhound betting, allowing you to:
- Lay (bet against) greyhounds losing
- Trade in and out of positions during the race
- Lock in profits regardless of the outcome
Exchange betting often provides better odds than traditional bookmakers, especially on the favourite.
Tote (Parimutuel) Betting
The Tote pools all stakes and divides them among winners after taking a commission. Odds fluctuate right up until the race starts as more money is placed.
Tote betting can offer value when the favourite is over-bet by recreational punters.
Finding Value
The key is matching your assessment of probability with the available odds. If you think a dog has a 25% chance (4.0 decimal) but it's available at 5.0, you've found value - over time, these edges compound.