How Does A Best Odds Guarantee Work When Betting On Horse Racing?

best odds when betting on horse racing

Horse Racing promotions and offers are very common in the United Kingdom. And one of the most popularly available is the Best Odds Guarantee.

Many different bookmakers offer their own version of this particular bonus and generally speaking, they all offer exactly the same benefit to their customers.

However, many punters may not quite understand what a Best Odds Guarantee is. Some may erroneously assume that it means that this bookmaker will offer the best odds on a selection in a race compared with other bookmakers.

That is not the case.

So, to discover more about what the best odds guarantee is, how it works and how it is applied on a variety of sites in the UK that offer the feature, read on!

What is a Best Odds Guarantee?

A Best Odds Guarantee works by ensuring that a punter receives the best price for their bet (provided it is made after a set time on the day of the race) between the odds they take when they place the bet and the official starting price for the runner when the race starts.

Essentially, whichever is the higher price of the starting price, or the price taken when the qualifying bet is placed, if the selection wins then the punter will be paid out at the higher of the two prices.

This is best shown by means of a couple of examples.

Examples of How a Best Odds Guarantee Works?

Let’s now show you a Best Odds Guarantee in action through two different examples.

Example 1

A punter places a £10 qualifying best odds guarantee bet on Proclaimer at odds of 4/1 to win the 7pm race at Newcastle.

However, at the start of the race Proclaimers odds have shortened in the market to 3/1.

In this case, the Best Odds Guarantee means that the punter will be paid out at odds of 4/1 if Proclaimer wins the race.

Example 2

A punter places a £10 qualifying best odds guarantee bet on Proclaimer at odds of 4/1 to win the 4.50pm race at York.

However, by the time the start of the race is reached, Proclaimers odds in the market have drifted out to 5/1.

In this case, as the SP is higher than the price when the bet was placed, the punter will be paid out at the higher odds of 5/1 should Proclaimer win the race.

As you can see from the examples above, having the Best Odds Guarantee in play means that a punter is saved from having to think about when is the right time to back the horse. For sites that don’t offer this service, punters could lose out if they back a horse early and its price lengthens but the horse still wins.

Similarly, if a punter decides to wait until right before the start of the race before placing their bet, they may miss out on a higher value price that was available in the hours before the race started.

With Best Odds Guaranteed, customers get the better of the two prices every time when their horse is a winner.

Which UK Betting Sites Have a Best Odds Guarantee?

All of the following UK betting sites are confirmed as having their own Best Odds Guarantee for Horse Racing (some may also offer a similar guarantee for Greyhound Racing too).

Bet365
Coral
Betfred
Ladbrokes
Paddy Power
SkyBet
Unibet
BetMGM
Betway
Boylesports
Livescorebet
William Hill
Bwin
VBet
BetVictor

However, there are some notable sites that do not offer a Best Odds Guarantee feature as part of their racing promotions and they include:

Betfair
10Bet

Are There Any Limitations on a Typical Best Odds Guarantee?

There are usually a couple of limitations in place for the Best Odds Guarantee. This list is not exclusive to every site that carries the offer. However, it is a good indication of the limitations that are likely to be in place for the bonus with your choice of betting site.

Certain Racing Markets Will Be Excluded

While most companies will offer their Best Odds Guarantee for races in the UK and Ireland, there will be some limits on the number of countries in which they will honour this feature.

For example, with bet365 Sport, the company states that any races that take place in Australia, New Zealand, Singapore, Hong Jong or Japan are not included in the office.

However, this does mean that all UK and Irish races, plus those that take place in other countries around the world, such as the United States, France or South Africa to name but three, are also covered by this feature.

It is certainly well worth checking what horse racing markets are excluded from your choice of bookmaker’s Best Odds Guaranteed offer so you understand which bets will be covered and which will not be.

Qualifying Bets must be placed from a stated time each day

Perhaps the most important aspect of the Best Odds Guarantee is that each bookmaker will have a stated time from which any bets made on that day will qualify for the offer.

However, any bets made before the stated time, will not qualify for the Best Odds Guarantee.

It is important to note the time at which your choice of bookmaker begins to offer the Best Odds Guarantee. With bookmakers such as bet365 Sport, the offer starts from 8am on the day of the race.

Other bookmakers may offer the feature from 9am, 10am, 11am or even 12pm.

It is important to know the time the offer is available from with your bookmaker to ensure you place your bet at the right time.

The Best Odds Guarantee applies only to standard win or each way bets.

If you are a fan of accumulator bets, or other multiple selection bets such as patents, Canadians and similar, then the Best Odds Guarantee won’t apply to these bets.

For the majority of bookmakers offering this feature, the offer is only applicable to single win or each way fixed odds bets on the standard odds markets.

Tips to Maximise The Benefits of a Best Odds Guarantee

So, what is the best way to get the most from your Best Odds Guarantee bonus? Here’s some simple tips for you to remember!

Sign up with a bookmaker that offers the bonus.
Check the time the offer is available from each day.
Confirm which countries races are covered by the offer and select from races in these countries alone.
Always place your qualifying bet after the time which the Best Odds Guarantee is available from.
Only bet on To Win or Each Way standard odds horse racing bets.
Remember, this benefit is only useful if your bet is a winner (or finishes in a paying place for each way bets).

With the best odds guarantee in place, customers do not have to judge the right time to back their chosen horse to get the best price. This offers horse racing punters peace of mind that if their horse wins, they’ll get the biggest return out of the two prices available to them.