In this regard, what is Favourite in horse racing?
Favourite/1ST Favourite/Unnamed Favourite: The most popular horse/team/selection in a race/event which is quoted at the lowest odds because it is deemed to have the best chance of winning the race/event.
One may also ask, what does Insurebet 3 places mean? Insurebet - Horse Racing. Insurebet does exactly as it says - it's an insurance against your horse being beaten if your horse but finishes second (Insurebet 2 Place) or second or third (Insurebet 3 Place) then you get your stake back.
Subsequently, one may also ask, what happens if a race is abandoned?
An abandoned or postponed event/match will be deemed void regardless of being rescheduled unless specifically stated in the rules. If a market has already been settled when the event is abandoned then the bet will stand. For example: first goal scorer bets that have already scored before the match was abandoned.
What happens to my bet if a horse is withdrawn?
Answer: If a horse is withdrawn before the race start it is considered a non runner and the stake is returned. If your bet was an ante post bet and the horse is subsequently withdrawn before the race, you will also lose your stake.