Over the centuries (yes, you read that right), horse racing has become increasingly popular. What started as local races where residents bet on has now become internationally popular, with tournaments being connected, such as the Triple Crown. One of the biggest reasons why the sport remains so popular, is because of horse betting. In fact, its uncommon to see spectators watching races on the track without a bet slip on their hands. And if you want to learn how to bet on horse racing and win big, then continue reading our latest guide on horse betting.
Of course, earning from horse racing is not just limited to betting on the races. You can always opt to open a racebook and earn even more.
How to Bet on Horse Racing: The Basics
To get started on your journey to horse racing, you must first know the basics of betting on horses. Knowing how each tournament runs is also important, so you know what you will be betting on. It also helps to read the latest horse racing news to know the rosters and schedules.
While it is popular to simply bet on your favorite number, or the color of the silk on the horse, or go for the popular ones, you can earn more with smarter bets. We’ll begin with the bets you can place in a horse race
Types of Bets in Horse Racing
- Win. A win bet is the easiest bet you can make in horse racing. You simply choose which horse you think will win the race outright. If the horse wins first place, then you win the bet. If they place second or third, you lose the bet.
- Place. This is also a simple bet you can make but this is not a win or lose bet. Here, you choose who you think will win, but not just first place. If, for instance, your horse pick wins second place, then you still win the bet. Third place and below marks a lost bet.
- Show. Then, you have the Show bet, which now includes the third place. The progression from win to place, to show is simple to understand. Of course, the higher the risk, the higher the payouts.
- Across the Board. You also have an across the board bet where you bet on a horse to win first, second, or third. But, the payouts will vary depending on the top finishing positions. The higher up the ranks, the higher the payout.
- Other Bets. There are other bets you can still place, and some carry higher risk than others. There are wagers such as exacta, exacta box, trifectas, trifecta box, superfecta, and superfecta box. We will go into deeper detail into these bets as we bring you more advanced sports betting tutorials.
Do’s and Don’ts of Horse Racing
When you bet on horse racing, you will need to remember a few things, and try to avoid some bets. Here are a few tips on what to do and what to not do in horse racing:
Do’s:
- Research on the horses and jockeys. Check their histories, their performances at the specific track the races will be held, and other important information.
- Check the Gate Position. The placement of the horse in the gate can mean more ground to cover. And when every second matters in horse racing, where they start in the gate will be important, so make sure you check the venue’s details and the horse’s gate position before placing your bets.
- Look for Bonuses. Of course when it comes to betting, any extra bonus or perk you can get will have you spend less and potentially earn more. So if you can find a sportsbook with nice bonuses, then go for it.
Don’ts
- Overbet. Do not overextend yourself placing bets on every single race or horse. Make smart bets and manage your bankroll so you can give more value to bets that have a higher likelihood of winning.
- Bet on Favorites Always. While favorites do mean that they have the higher chances to win, it still boils down to the lines. Sometimes, there is more value in opting for underdogs, or on a new but rising star. Your bottom line should always the odds.
- Ignore Track Conditions and the Weather. As an outdoor sport, weather affects a lot of things- humidity and temperature can be a problem for the horses. A muddier track could spell trouble.
The nice thing about horse racing is that even as a beginner, you can easily win, and get a better grasp of the sport while you are at it. If, however, you feel like you would want to earn more from the payouts that you are getting, then you can always open your own horse betting business with a Bookie PPH service. That way, instead of earning from the bet or two you place each race, you can win from each bet that your players make.