Black type is the bold print a thoroughbred sales catalogue gives to results in Group and Listed races, so a buyer can see at a glance which horses in a pedigree reached that level. Under the International Cataloguing Standards, the first three finishers in a recognised Group or Listed race earn it: the winner in bold capitals, second and third in bold lower case.
The term belongs to the sales ring more than the betting ring: it changes what a result is worth on a catalogue page, not a horse's chance in its next race.
Where the term comes from
The name is literal: catalogues set these results in heavy black type. The rules sit in the International Cataloguing Standards, approved by the Society of International Thoroughbred Auctioneers for the major auction houses' catalogues.
Its 2024 edition records the history. Group designators began in Europe in 1971 and have sat in brackets since 1 January 1985. Fourth place earned black type in graded races from 1985, in Group 1 races only from 1989, and not at all from 1 January 1990.
Which races and placings carry black type
In Australia, AR 162 of the Australian Rules of Racing recognises only the Group, Listed and Restricted Listed races Racing Australia approves and publishes. The standards put Australia in Part I, the major racing countries, with the Asian Pattern Committee as the authority for its Group and Listed races. Group and Listed races explains how a race gains or loses status.
| Result | What a catalogue shows (2024 standards) |
|---|---|
| Win in a Group or Listed race in a Part I country | The name in bold capitals |
| Second or third in those races | The name in bold lower case |
| Fourth place, since 1 January 1990 | No black type, though the placing may appear in plain type |
| Top three in a race in Part II of the standards | Black type equal to a Listed race, with no Group designator |
| Jumps races | Italics, with regional preference deciding whether that counts |
A result keeps the grade its race held that year: the standards tell users to look up the edition for the year a horse won, so a Group 1 win stays a Group 1 win after a downgrade, and later winners get the lower grade.
Why it matters to owners more than punters
The standards call their contents important to breeders, sellers and buyers. Catalogue pages set out a horse's family as well as its own record, so a black type result follows its relatives into the sale ring. That is why connections can aim a horse at a Group or Listed race for a placing. Australian race classes shows where those races sit above benchmark and class races.
For a punter, black type marks past class and nothing more. It does not say how strong that race was, whether the horse has held its form, or what gear it wore, such as blinkers. Read the recent runs and ratings, as how to read a form guide sets out, and treat the bold print as a prompt to look, not a reason to bet.
Where B337 fits
B337 is not a form guide or a ratings tool, so what a black type placing is worth today stays your call. The Terminal puts racing and sports prices from 40+ bookmakers side by side, with the best available price on each runner picked out. A free account opens a limited view of the Terminal with live odds.
Risk: Betting involves risk. A horse with black type can be past its best, and taking the highest price on it raises what a win pays, not how often it wins. For free support and ways to set limits, see responsible gambling.