Guide about betting on horse RacingHorse Racing Betting in a nutshell
Horse racing is one of the oldest sports in the history
Are you a betting fan? If so, then we have good news for you. In the recent past, people used to bet and gamble on games such as bingo, poker, roulette, casinos, and much more. However, with the introduction of sports betting, that has since changed. Nowadays, betting punters have a wide array of sports to place wagers on. We all know that games such as football, tennis, volleyball, basketball, and rugby have been some of the sports that many betting companies offer odds. In fact, those mentioned above are some of the games that attract a huge fan following as well as massive bettors across the world.
If you are a fan sports betting, then it is more probable that you would want to have as many betting games as possible. Well, we have already mentioned few popular sports! However, did you know that there’s another sport offering similar betting experience as football? Have you ever heard of betting on horse racing? If not, then we have ultimate information and incredible guide for you 🙂
Horse racing is one of the oldest sports in the history of humankind. Nowadays, many competitive horseracing events across the world have attracted huge followings. There are those who love watching the game and of course, those who want to make money from betting on horse racing competition. As a result, bookmakers have started to offer odds on horse races such as Allowance, Claiming, Derby, Handicap, Distaff, Maiden, Oaks, Route, Marathon, Sprint, and Stakes. Indeed, this sport is retaining a healthy share of the betting market. Placing bets on horse racing competition started in Ireland and UK, but nowadays, bookmakers across the world cover it as one of its favorite betting markets.
If you are new to betting on horse racing, then it means there is a lot you need to learn. Even if you are a seasoned betting horse racing fan, you need to stay up-to-date about the sport to advance your betting skills to higher levels. Well, that being said, we have a comprehensive guide for both beginners and seasoned players alike.
Placing wagers on the outcome of a formal horse race can be a fun as well as profitable if you (as aPlacing wagers on the outcome of a formal horse race can be a fun as well as profitable if you (as a Placing wagers on the outcome of a formal horse race can be a fun as well as profitable if you (as a bettor) knows what to do and how to beat the odds. In our guide, we are going to provide you with valuable information about betting on the sport. Key aspects covered include how to better your odds, advice on what to be keen when placing wagers, types of bets to place wagers, when and how to place a bet, and of course, how to improve your betting skills as far as horse race betting is concerned.
How to bet on Horse Racing
Now that you are familiar with how odds work, it is time to look at how to bet on horse racing events. Unlike other betting sports that you might have placed bets on (most of which are popular, such as football), betting on horse races is considered an elaborate cross between brain surgery and rocket science, with the added peril that you can be penniless at the end of the day if you are not smart when betting. Nonetheless, if you have incredible pieces of information at your fingertips (including knowledge of odds), you can easily navigate your way and walk away with a hefty amount of money as the proceeds of betting on your favorite horse racing competition.
There are two ways on how to place a bet on horse racing competition. The first one is betting online. With this, it is essential that you need to look for a sportsbook that offers odds on the same. The good news is that many bookmakers have included the sport in betting markets, and therefore, you will have plenty of sides to choose from. Remember, it is highly advisable that you place bets on reputable companies only if you need to increase further your chance of getting profit.
Secondly, which is perhaps the easiest option, is getting a betting ticket from the Window. It is often applicable for fans who attend the actual racing on the track. In most cases, before placing a wager, you have to look and study the racing form of a particular horse prior the race at the Paddock (a paddock is an area where horses are saddled before starting the race) and when they are walked around the ring. If you are contented with a certain horse, you can proceed to place a bet before the start of the race.
Horse race wagering odds
Before getting into the heart of horse racing betting, it is important we explain some of the reasons as to why you should visit a horse racetrack. As earlier mentioned, this sport is an ancient game, and probably your grandpa liked it. Indeed, watching horse racing, particularly in the higher levels of the sport, is one of the entertaining experience. It’s a great source of entertainment and fun for an outing. These days, if you are taking your family to watch football, you will need more than 400 dollars for tickets and other miscellaneous. However, admission to many racetracks is almost free since the least bet on each horse race is just two dollars.
The procedure followed when buying a betting ticket is as follows:
- Tell the clerk what racetrack you are wagering on
- State the number race you are wagering
- State the amount that you are betting
- State the type of wager you are making
- State the number(s) of the horse you are wagering
- Finally, get and verify your ticket before leaving the window
It is as simple at that! However, Teller window is not the only places where people can make horse race bets while at the track. Nowadays, we have Self-Automated Mutuels (or SAM) machines that allow bettors to avoid long queues at the windows.
Why attend a horse race event or competition?
If you are a starter in horse race betting, it is always important that you know how odds works before doing anything. Fortunately, this is not something unique, and probably you have seen in other betting markets. The concept of odds is horse racing is quite straightforward. In the United Kingdom and some other parts of Europe, horseracing odds are specified as fractions. However, some few bookmakers make use of decimal odds form. Using the fraction system (which is the standard way), if a horse’s odds are 3/1, it means that you will make three dollars if you bet one dollar.
Types of horse racing bets
Typically, there are two different kinds of bets to choose from when it comes to betting on horse racing. These are straight bets and exotic bets. In most cases, if you are a starter, it is highly recommended that you stick with straight bets because they are cheap, simple, and straightforward.
On the other hand, exotic wagers are usually much more challenging, difficult to win, and more expensive than the former, hence more suitable for seasoned players. Nonetheless, exotic wagers have much higher payoffs than straight bets.
#1. Straight Bets
With this category, you are wagering on one specific horse to do a particular thing. It is the simplest form of betting on horse racing, and it requires a minimum betting amount of two dollars on the track and as little as one dollar in many online betting sportsbooks. Under straight bet, we have many types of bets, and the common ones include the following:
- Win bet: This is where you are betting that your horse will be the first one to cross the finish line. If your prediction is correct, then you collect the bet amount.
- Place bet: This is where you win if the horse you had backed finish in the first or second position. Although the payout for a Place wager is slightly less than a Win bet, the chances of winning are higher.
- Show bet: This is where you are predicting that your horse will finish in first, second, or third position. The chances of winning are higher in this type of bet since you are hedging your wagers; nonetheless, the gamble’s payout is substantially less than a Place or Win bet.
- Across-the-board: As the name suggest, a betting punter is supposed to bet ‘across the board’ by betting his/her horse to Show, Place, and Win. In other words, if the backed horse finishes first, the bettor gets the Show, Place, and Win money. If it comes second, Show and Place money is awarded, and if it ends in the third position, the betting punter walks away with Show money only. Sometimes, this bet is referred to as a ‘combo straight bet’ simply because it is three different bets in one. It is worth noting that Across-the-board wager is a little more expensive than a simple show/place/win bet.
#2. Exotic Bets
Some betting fans, especially the seasoned ones, like to advance their betting risks to higher notches. With Exotic wagering, punters are a given the great opportunity to play around with the small amount of money with the intention of winning hefty amounts. However, you need to informed that bets under this category are much harder to win than Straight bets. Besides that, if you are not careful, it can eventually get expensive. Here below are some of the standard horse racing bets under Exotic wagers:
- Exacta Bet: You are betting on two horses to finish in the first and the second position in the exact order.
- Quinella bet: With this bet, you are predicting on two horses to finish the race in the first and second place in any order. As long as the duos finish in the top two slots, you win.
- Tricast bet: Often referred to as Trifecta, is a gamble for those who feel they are incredibly lucky. If you want to win this type bet, you will need to predict the top three horses correctly in the race and bet that they will finish that exact order. Since it is not an easy bet, the rewards on it are extremely high.
- Superfecta Bet: You win if the four selected horses finish in the first, second, third, and fourth position in the exact order. Similar to Tricast, the rewards in this bet is also whooping.
- Other exotic wagering bets including Pick 3, Pick 4, Daily Double, Head-to-Head, Trixie, Patent, Lucky 15, Yankee, Super Yankee, Lucky 31, Heinz, Lucky 63, Super Heinz, and Goliath.
Horseracing is one of the most interesting sports, and when it comes to betting, players have a whole lot of wagering options. Currently, many bookmakers are offering odds on many horse races so that it will depend on your favorite race. As we conclude, betting on horseracing can sometimes be expensive, but people need not get beyond their means. In other words, responsibly playing is the punch line. Good Luck!