What Is The Favourites Index?
This horse racing spread betting market allows you to place a bet on how the favourites will perform at a particular meeting. In this market a favourite is awarded 25pts for winning, 10pts for finishing second, 5pts for third and 0pts for any other place. In the event of a race starting with joint-favourites, Sporting Index takes the favourite as being the horse with the lower race card number.
Here’s an example. At a Newbury jumps card consisting of six races, our favourites prediction might be 61-65 points. If you had a good look at the form and decided that the favourites should perform better than we predicted, you might bet higher (buy) at 65 for a stake of £3.
At the end of the meeting, three favourites had won (25 x 3 = 75), one came second (10) and the other two were unplaced, so the make-up was 85. So, had you bought at 65 you would have won 20 times your stake: (85 - 65 = 20) x your stake (£3) = £60. But, if the favourites index had made up at only 50pts, the same bet would have lost you 15 times your stake: (50 - 65 = -15) x your stake (£3) = -£45.
What is the Racing Post Favourites Index?
This horse racing spread betting market is based on the same principle as the Favourites Index, but instead the favourites are those printed first in the betting section below each race card in the Racing Post (i.e. the horses the Racing Post betting forecast predicts will start favourite). These horses are awarded points as follows: 1st = 25pts, 2nd = 10pts, 3rd = 5pts, any other place = 0pts. If there are joint-favourites the first named horse in the Racing Post is deemed to be the favourite.
Let’s see an example. In a race meeting at Lingfield, Sporting Index’s opening prediction for Racing Post Favourites might be 62-66. If you studied the Racing Post and believed their favourites had a better chance than we predicted, you would bet high (buy) at 66 for let’s say £3.
In the end two of the Racing Post favourites won, but none of the others made the frame. So, on the basis of our scoring system, the market made up at 50. Had you gone high at 66 you would have lost 16 times your stake: (50 - 66 = -16) x your stake (£3) = -£48. However, if the Racing Post favourites index had resulted in 80 points, the same bet would have won you 14 times your stake: (80 - 66 = 14) x your stake (£3) = £42.