Handicaps Explained

What a handicap race is

A handicap is a race designed to give every runner a theoretically equal chance by making the better horses carry more weight. The idea is simple: if all horses crossed the line together, the handicapper has done the job perfectly. Handicaps make up a large share of British racing, from modest midweek cards to showpieces such as the Grand National, and they reward punters who can judge which horse is best treated rather than simply which is best.

Official ratings and weight

Every horse that has run enough times is given an official rating (OR) by the British Horseracing Authority’s handicappers, expressed as a number – the higher the figure, the better the horse is judged to be. That rating decides the weight a horse carries. As a rough guide, each rating point equates to one pound in weight, so a horse rated 90 carries 10lb more than one rated 80 in the same race.

A few points are worth understanding:

• Handicaps are restricted by rating bands, such as a 0-95 contest, so horses of broadly similar ability meet
• Top weight is carried by the highest-rated horse in the field
• An apprentice or conditional jockey’s allowance can reduce the weight actually carried
• Ratings are reviewed after every run, rising for winners and improvers and falling for those out of form

The handicapper and betting angles

The handicapper’s task is to keep adjusting ratings so no horse has an unfair edge. Winners typically go up, which is why repeat success becomes harder. The punter’s edge lies in finding a horse the handicapper has not yet caught up with – often called “well handicapped” or “ahead of the assessor”. These are horses whose recent runs suggest they are better than their current rating implies.

Common situations to look for include a horse dropping in class after running respectably against tougher rivals, one returning from a layoff on a rating below its old best, or a lightly raced improver whose mark has not kept pace with its progress. The opposite warning sign is a horse rated at or near a career high, where the handicapper has likely caught up. Combining the rating picture with the horse’s form figures and suitable conditions is the most reliable way to find value in a handicap.

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