Understanding UK Horse Racing
Most people understand most sports on the exchanges, but for some the terminology and structure behind racing can be a bit of a mystery. It took me some time fully graps what racing was all about and I’m no expert, but it helped how I trade the market. People attending my course will know I talk about it a fair bit. So I’ve invited forum racing favourite ‘JollyGreen’ to give you some broader background to racing. Here is the first a several articles that will be posted up on the blog, enjoy.
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The title says UK but this applies to pretty much any country where horse racing occurs. This is not a definitive guide on everything horse racing, it is aimed at helping complete novices or people who have some knowledge of racing but want to understand more.
Race grades
Here in the UK races are graded on a scale of 1-7 where 1 is the highest and 7 is the lowest. Grade 7 generally applies to certain NH Flat races often referred to as “bumpers.”
The grade is related to the quality of the horse and the prize money on offer. A grade 1 race like the Derby will attract the top 3 year old colts, ‘boy horses’, and fillies; yes the girls can have a go if they like. Off the top of my head I can remember one filly that actually ran, Cape Verdi who finished 9th having been made the favourite. There was one 2-3 years prior to Cape Verdi but it was a massive outsider and I cannot even remember her name! Cape Verdi was no back number, she won the 1000 Guineas that same year and was part of the powerful Godolphin operation.
The Derby is the pinnacle in flat racing and I guess a seller at an All Weather (AW) track is the nadir! This is where the worst performing horses compete and it is not the best of betting mediums; I will try and cover it in more detail in a future article.
Maiden races
But let’s start where all horses start in a Maiden Race. Basically this is for horses that have never won a race, some entrants will not even have raced before. There will be allowances in weight for fillies running against colts and these will be laid down in the conditions of entry for the particular race. These can be very hard to make a form judgement on as there is very little from to go on. A lot of judgement will be based on breeding and cost price of the horse, the owner and the trainer. The cost and breeding generally go hand in hand and you often find the best horses are placed with the more prominent trainers. I don’t believe they are necessarily the best trainers, but sadly that is how the racing world works!
In races like this you have to expect some horses to misbehave, especially 2 year old horses who have never seen a racecourse before. The markets can be volatile as people tend to follow the money in the belief that someone knows something. You hear the phrase “it’s catching pigeons at home” or “it’s burning up the gallops” so money starts to come for that horse. Then the horse misbehaves and suddenly its price drifts out. I am referring mainly to flat maidens, as this is the main racing here in the UK at the moment.
Maidens can be volatile markets so always tread carefully when looking to get involved. If you see a horse misbehaving in the paddock, on the run to the start or even at the start area then the price is going to drift. Always keep an eye on this as it can help you to catch a market move.
Category: Horse Racing, Trading strategies
