Horse Racing Betting
Horse racing has been around for many years and in times past, watching horses race was primarily a leisure activity of the elite. Today, it is a popular sport, watched by millions of people on television. Major horse races, such as the Kentucky Derby, tend to fill the stadiums in which they are held. Betting on horse racing is quite common and has been a part of the sport nearly since its inception.
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Horse racing is sometimes referred to as pari-mutuel betting (as is American greyhound racing) for a number of reasons including because each person’s bets are put in a pool, the track taxes the pool for its cut and all monies are payout odds are given at the end of the race.
Intuitively because the odds are not figured until post-race, it doesn’t make sense that the odds be available before a person places their bet. However, they are. These odds are not set in stone but are best guesses. Because they are only approximate odds, they will change, as the race gets closer. Successful horse racing betting requires a certain amount of skill. It does not involve haphazardly picking a horse and hoping for the best.
Horse Betting Types and Odds
There are many different types of horse racing bets. It will likely take newcomers some time before they get a firm grasp on all of them. However, bettors that stick with the sport will eventually become familiar with them. It is important to note, that not all sportsbooks will offer the same types or amounts of bets. Some will offer more, others less. Below, is a listing of some of the available horse racing betting types. However, it is in no way an exhaustive list.
Straight Bets: This is the simplest bet to make. The odds are pretty good but the payouts about average. Individuals can make a win, place or show, straight bet. A win bet is on a specific horse to win the race. A place bet payouts if a person’s horse places 1st or second. A show bet payouts if the horse a bettor wagers on finishes in the top 3.
Exotic Bets: These are a bit more involved then straight bets. Exotic bets include more then one horse and perhaps even multiple races. The payoffs are good but these can be difficult to get right.
Across the Board: This is a win, show and place bet on a single horse. If the horse a person bets on comes in first place, they are paid on all three bets. If their horse finishes in second place, they win the show and place bets. If their horse finishes in third place, they win the show bet.
Perfecta: This wager is one in which a bettor chooses two horses to place 1st and 2nd. The have to correctly choose the order in which they finish.
Quinella: This wager is on two horses to place first and second in either order.
Box Bets: Box bets are often combination wagers, allowing bettors to bet on the fastest horses but without having to specify the exact order of their finish. This sort of wager places a bet on all finishing combinations. These bets are expensive because they are easier to win.
Trifecta: This is a wager that three specific horses will finish in the top three, in any order.
Superfecta: This is a bet that four particular horses will finish in the top four in any order.
Any 2: Bettors wager that two specific horses will finish in the top three, in any order.
Double: This is a wager on two separate races. Individuals pick two horses in different races, betting that each horse will win their respective race.
Pick 4: Individuals wager on four horses in four separate races that each will win their respective races.
Horse Racing Major Events
Kentucky Derby: The Kentucky Derby is the most prestigious of all horse racing events. It is held in Churchill Downs every year in May. This is the first race in the Triple Crown.
Belmont Stakes: This is run about a month after the Preakness. It is the last leg in the Triple Crown.
Preakness: This event is held after the Kentucky Derby. It takes place at the Pimlico Racetrack and is the second leg of the Triple Crown.
Breeder’s Cup: This is a very prestigious event and is invitation only (horses not people). Horses participating must be at least 3 years old. It takes place annually in October.
Horse Betting Strategy and Tips
There are many horse racing betting systems online. Many promise to help bettors bet without any financial risk at all and others guaranteed that bettors will be able to “rob” (win every bet they make) the sportsbooks after reading their guide. It is important to take most of these systems with a grain of salt. However, there are some systems or strategies available that have some merit. Look for those written by top horse racing bettors who have actually had some success. Also, read all of the free information that you can get on the subject for free first. You will find that there is lots of really good information that won’t cost you a dime. Here are a couple things you will want to research before making your horse racing bets:
• Track conditions
• Previous results of the horses
Horse betting can be a lot of fun and profitable if a person commits to learning how to do it correctly. The best horse racing bettors have developed a great deal of skill and aren’t simply gambling haphazardly. Those individuals just starting out who aren’t familiar with the sports biggest and best events should pay close attention to the following races, The Preakness, Kentucky Derby, Breeder’s Cup and Belmont Stakes. These are all major races and bettors will be out in full force.