The All-Star Mile is the newest horse racing event in Australia. It takes place at three different race tracks across the state of Victoria, including the world-famous Flemington Racecourse in Melbourne. The racetrack each year is decided by a voting system in which the public votes for each track. As the event carries such a massive purse and was first launched in 2019, there are many avid Aussie horse racing punters looking to get in on the action. It is, for this reason, we have decided to create an All-Star Mile betting guide that includes sections on how to bet on the event, how to read odds, and tips to keep in mind when betting on the horse racing event. So, read on and learn all you need to know about placing bets on this prestigious event at Australian sports betting sites.
Best All-Star Mile Betting Sites 2020
How to Bet on the All-Star Mile
As with all horse racing events, the bets punters can make on the All-Star Mile can be divided into basic and exotic bets. If you’re completely new to all this, let’s go through everything down below:
These are simple bets that most punters should be able to understand as they are often visible in other sports too. They include the following:
- Win – bettors predict who will win the race with this bet.
- Place – similar to the win bet, expect all bettors need is for this specific horse to place i.e. come first, second, or third. Understandably, this bet has got lower odds than a general win bet.
- Each-Way – these are equal bets made on a horse to place and win. Punters get paid out if the horse both does actually win the race.
These bets are harder to get right because they involve trying to guess multiple different outcomes at once. Ultimately, we recommend that our punters stay away from them until they have proven themselves to be experienced bettors in the sport:
- Quinella – bettors bet on two horses to finish first and second in a non-specific order.
- Exacta – this bet involves predicting the first and second place runners in the exact order.
- Trifecta – exactly the same as an exacta bet, expect guessing the places of the first three horses instead of two.
- First Four – again the same as the exacta and trifecta, but the ante has been upped by adding one extra horse to the mix.
There are other bets available in horse racing that can be placed on the All-Star Mile. We recommend checking out our horse racing page to learn more.
All-Star Mile Odds
When you place a bet online, you are going to need to read odds in order to understand how much you may potentially win. In Australia, most online betting sites use the decimal odds format to display odds on a particular outcome. While there are other manners of doing so (American and fractional), we will stick to explaining the method most Aussie punters will come into contact with.
So, when you log in to your favourite betting site and navigate to the All-Star Mile section, punters will come across betting options that will look similar to this:
|Pure White Evil||3.60|
Now, to calculate how much you could possibly win by betting on any of these horses, all you need to do is make use of the following formula:
Stake x Odds = Winnings
For example, if you were to place a $100 bet on Galactic Athena, you would stand a chance of winning $500 – $100 x 5.00 is equal to $500. It is important to note that this amount includes both your stake and winnings.
All-Star Mile Betting Tips and Tricks
With the All-Star Mile being a race that is new as it is and the track rotating each year, there aren’t really any solid tips that we can provide you that are too relevant to the race. That stated, we can give you some general betting tips around horse racing that may help you make better bets. Some such tips include the following:
- There are no tipsters that will give you correct predictions on the horse racing event each and every year. Especially, with this event being as new as it is. However, in saying that we are not suggesting that you never pay attention to horse racing tipsters. We are just suggesting that punters use their discretion when listening to self-titled “experts” on the internet.
- It doesn’t matter what sport you bet on, you need to make sure that you are shopping around for odds each and every time you place a bet. With this event being as new as it is, there is an opportunity for bettors to take advantage of sportsbooks who may mistakenly provide some competitors with more generous odds.
- If you are inexperienced in horse racing betting, it may be beneficial to stick to making easier bets that don’t require you to look at too many factors. All we’re saying is that instead of trying to make impossible bets when you’re still inexperienced, try testing out your strategy on simple bets.