You’ve probably seen them at the races: the colourful betting slips placed inside racing newspapers, magazines and on the sides of horse-racing TV sets. Nowadays, betting slips aren’t just limited to horse races—in fact, they can be used for all types of racing events, from motorcycle racing to dog fights!
The concept of a betting slip is incredibly simple: at the end of a race, the winner’s cumulative score is added up and divided by the total number of bets placed for that race to arrive at a winning percentage. As long as there are enough bets to make the maths work, the winner is then presented with a piece of paper bearing the winning percentage and their name in bold print.
What if we told you there was a way to make your own betting slip?
You may be surprised to learn that it’s actually very easy to do, and with just a little bit of entrepreneurial spirit, you can put this skill to use and reap the benefits for yourself! All it takes is a little bit of research, a lot of creativity and a whole lot of perseverance!
In this article, we’ll teach you how to make a horse race betting slip, step by step, so that when the time comes to use it, you’ll know exactly how to do it.
Step one: Research the races you’ll be using the slip for.
It’s important to do some research into the races you’ll be using your betting slips for. This will depend on a number of factors, including the amount of money you want to place on each event and what type of events you’ll be using the slip for. If you’re new to this, start small: enter a few races at a time and learn from experience.
If possible, find out the format of the races (i.e. will they be held as conventional heats or as a single-elimination tournament?). This information will affect the design of your slip and how you’ll be calculating your score at the end of each race.
Step two: Design a front and a back for your slip.
The front and back of your slip will determine its overall look. Remember: you’re designing this for a betting slip, so it must look like one!
On the front of your betting slip, you need to have 4 vertical lines—one top and one bottom, as well as 2 additional ones running across the width of the slip to divide the total number of bets into neat, even rows. Use a printer to print this out on paper, and then cut it out along the marked lines using a pair of scissors or a knife.
On the back of your slip, simply have 2 vertical lines running across the width of the paper to represent the two fractions—the numerator and the denominator of the winning percentage you’ll be presenting to the winner. If you have access to a scanner, you can take a photo of the printed slip and have it ready in an instant!
Step three: Start with the numerator.
The numerator of your fraction will be the total number of bets placed for that particular race. This is the part of your slip that you’ll be adding up at the end. Remember: always start with the largest numerator first, so in the event of a tie, the slip with the larger denominator will win!
To illustrate, let’s say you have 100 bets placed on a 10-race horse-racing schedule, and the total winning percentage for those 10 races is 45%. Your 10-race schedule will result in a 45/100 or 0.45 winning percentage.
If you use the above example and don’t add the appropriate bets for the other races (i.e. there were no bets placed for Race 3), your final winning percentage will be 0.45.
Step four: Add up the numerator.
Your next step is to add up the numerator of your fraction. You can use a pencil and paper to do this—just make sure you add each individual bet separately, as described below.
To begin, find the sum of the first 3 races (Races 1, 2 and 3 above). For this example, the sum is 50 + 40 + 10 = 90. Next, add the total of the next 2 races (Races 4 and 5) and include the final race (Race 10). So, 50 + 40 + 10 + 30 = 180.
Now, divide this total by the total number of bets to get the winning percentage for each individual race. In our example, this is 45/100 or 0.45. The result is the same whether you use the whole fraction or the decimal point—in either case, the individual race results will be in decimal form (e.g. 0.45, not 45%).
You now have the basic design of your betting slip ready to use. Print it out on paper using a regular printer—don’t use an inkjet printer as it’ll blur the printout.
Step five: Test the design.
Once you’ve printed out your betting slip, you can test it to make sure everything lines up correctly. Start by laying your paper on a flat surface and lining up your edges—the top, bottom, and 2 sides. Next, place the slip in front of you so that you can clearly see the 4 vertical dividing lines, as shown in the image below.
With your slip in front of you, you should be able to verify that all the relevant information is present and that the design looks exactly as you planned. If there’s anything that doesn’t look right, you can adjust the design and print it out again—ideally, this is something you should be doing a few times before you place your final bets!
Step six: Place your bets.
Once you’re confident your slip is perfect, it’s time to place your bets!
It’s important to place your bets on the right horse—not any old horse! As mentioned, you want your betting slip to look perfect, so it’s important to know the right way to place your bets. You should research the favourite, the second favourite and the long shot for each of the horse races you’ll be participating in.
The best way to place your bets is by creating a betting slip with a fixed sum you’ve set aside. For example, let’s say you want to bet $100 on each of the 10 horse races you listed above. To ensure your funds are safe, you’ll need to set aside $2,000 in total. Now, you can either bet $100 on each race, or you can place a single bet of $2,000 on the 10-race schedule. Either way, you’re guaranteed to win $10,000 should all the horses you’ve chosen win!
Of course, this is assuming you win—if you lose, you’ll need to pay back what you’ve won. In the case of a losing bet, you can adjust it to a winning bet of the same value—in other words, if you lose $10,000 on a $20 bet, you’ll need to pay back $10,000 plus $2,000 in winning bets to ensure your funds are safe!
Some people prefer to use a credit card for online betting because of the convenience. However, this is not recommended as it creates a habit of borrowing money and can make you vulnerable to identity theft. Always use a debit card when betting online or at the casino—this way, if anyone attempts to steal your identity, they’ll have a harder time doing so because your bank account will be drained instead of filled with credit card charges!
Final steps: Present your slip to the winner and collect your winnings!
Congratulations on making such a handsome betting slip! When the time comes to present it to the winner, make sure you have everything figured out beforehand—in other words, write down the name of the person you’ll be paying off, when and how much you’ll be giving them, as well as any other relevant information!