Horse Racing Tips: Gambling in a horse race is an example of a sports betting. There are several things to study before placing a bet. The past performances of the horses, jockeys, and trainers, and the race terrain all give us a clue as to how the horse would fair in the next race. Some horses prefer a soft racecourse and hence run better when it has poured. Betting on horse racing is a common sight in countries where it is legal. Bettors stake their wealth to procure a lot more money if the horse wins the race. Depending on the types of betting, bettors can have a chance to win money even if the horse does not stand first in the race. It is necessary to understand the terms associated and how to pull off a bet successfully.
What is Sports Betting?
We all have spent those days in our childhood where we used to predict a situation and stake our money on it, and if fortune favored it, then viola! All the money is ours. The concept of betting is the same where gambling of cash takes place to predict the outcome of a race, game, or an unpredictable event. Sports betting is where we risk our money and possessions on the result of the game.
Types of Horse Betting
The three common ways to stake money are to win, to place and to show. A straight bet is the most common type of pure-bred wagering. When you place a straight bet, you bet on the horse only to win first. In a bet to place, you bet on the horse to come either first or second. However, in a bet to show, you win if the horse finishes first, second or third. The chances of winning a show bet are thus higher, and payoffs are much lower on average.
Let us familiarise you with different terms related to straight bets that heighten your chance to win money. A minimum of $2 bet is placed on the following.
- Across the Board: Here you place bets on the top three positions of the horse in the race. If the horse wins, the bettor is paid for all three bets. When the horse comes second, the bettor is paid for the second and third position, and when it comes third, the bettor is paid for that place only. It is the most lucrative bet because you have the chance to take back at least some money even if the horse comes third.
- On the Nose: You wager your money for the horse to come first only.
- Place: when the horse you bet on comes second it is said to place. You can collect the booty of the second prize only if the horse comes either first or second.
- Show: if a horse comes in the third position, it is said to show. This bet is analogous to a place where the bettor collects the third-place winnings if the horse comes either first or second or third.
Exotic Betting or Combination Wager
As the name suggests, these bets are put on a combination of horses. Not only are they complicated and more stringent to win, but also the pay is higher than straight bets.
Exacta: The term ‘Exact’ in exacta helps to comprehend it more comfortably. The placement of your combination of horses should be precisely in the same way as you have predicted for you to win your fortune.
Exacta Box: It is a slight variation of the above where the combination of horses is considered irrespective of their position. It covers all possible permutations of placement of multiple horses. The order of the horses may change, but they must arrive in the betted positions for the bettor can collect the winning. It has a minimum bet of $1.
Daily Double: When you bet a daily double, you bet on two different horses on two consecutive races in a day. Both the horses you bet on must finish foremost for you to win the bet.
Pick 3: This bet is an extended version of daily double where the bettor bets on three horses in three consecutive races to come first.
Quinella: A quinella is relatively similar when compared to boxed bets. It is because you place a bet on the position of the horses after the race is over, irrespective of the order, but you bet on a single horse instead of two leading to lower compensation.
Trifecta: This horse betting bears resemblance with exacta. Here the bettor wagers for three horses to arrive first, second and third in the same order and a trifecta is won.
Trifecta Box: Similar to trifecta here the bettor bets on three horses to come first, second and third but the variation of their order is allowed. A minimum amount of $1 is placed for these bets which happen in combination.
Superfecta: Superfecta bet is played with four horses, similar to trifecta, and the horses must attain the downright same positions, in the same order once the race is over for the gambler to win.
Superfecta Box: Similar to trifecta box, here the bet is placed on four horses instead of three. The horses must reach the same position, but there can be a divergence in their placements to win this bet.
Things to Remember While Placing Bet on a Horse (Horse Racing Tips)
- When the time comes to decide how you must place a bet on a horse, most people start to rack their brains. Let us have a look at the steps you should follow to bet with ease.
- Knowing the kind of bet is essential. It depends on you if you want to carry on with a straightforward win bet with one horse or choose a combination wager.
- Identifying the chances of success is the next significant judgment. Bets like a show, trifecta box, and superfecta box allow higher success rates as the betting is done for more than one position.
- Make sure you visit the padlock pick where all the horses are saddled before the commencement of the race. You can take an informed decision on the horse on which you would like to bet.
- Selecting the horses that you think have higher chances to win is essential. Referring to historical facts about the horses in form histories, how they have won in the past, and their present health parameters contribute to this selection.
- Identifying and understanding the horse racing statistics allows you to figure out whether your choice will bring you success or not.
- Approach the betting window on the race track and tell the clerk about your betting preferences.
- Pay the requisite amount for your ticket, wait in the gallery to enjoy the race and pray for your luck.
Horse Betting Tools Required
Just like visiting any other sports event, there are specific tools that you must have before you appear to bet in a horse race. These tools are made use of when you place your bets.
Racetrack Catalog: It mentions briefly about the necessary information about the horses, jockeys, trainers, and owners.
The Daily Racing Form: It provides data on how the horses have fared in the past races and include informative horse racing articles.
Tip Sheets: These are daily selections made by handicappers at the racecourse.
Newsletters: If the public newspaper services cover the racetrack betting, then the handicapper is paid to make horse selections. Such newsletters prove to be useful.
Your handy items include binoculars, a cap, umbrella, etc.
Significant Facts on Horse Race Betting
Whenever you bet in a horse race, most obviously you wish to win. Here are some well-known points laid out that you might consider before betting.
- The television simulcast commentator is the person who handicaps horses in most racecourses. Any tips to bet on, and he is the right person to ask.
- Top 10 riders in jockey standings win 90% of the races.
- A very sparse percentage of people watch the horse race because of love for the sport.
- Your favorite horse has a 33% chance of winning the race.
Loyalty Rewards in Horse Race Betting
You earn loyalty points whenever you place a bet on horses. For every dollar that is wagered, the bettor receives one loyalty point. That makes 100 loyalty points if you bet $100 on horses. Joining new racing reward programs add 50 bonus points to your account. Wagers who make such bets can redeem their loyalty points for cash. For this, the loyalty point conversion chart is useful.
Jackpots in Horse Race Betting
From time immemorial, the term ‘jackpot’ invokes interest to the minds of common men and bettors alike. When you win a jackpot, you take back a tremendous amount of fortune. To win a jackpot, a bettor needs to predict the correct winners of 5 consecutive races before the race begins. Jackpot bets can only be placed at the tote window or the Totalisator.
Jackpot bet is also associated with combined jackpot pooling. It is an inter-venue betting where the bettors can place bets irrespective of their location. This intriguing concept makes it more attractive to punters.
Super Jackpot takes place when by staking the same amount of money bettors can bet on 6 consecutive legs instead of 5. The winning amount is higher in that case.
Where to Watch a Horse Race?
The horse betting community organizes horse races at different times of the year. To watch these horse races earlier people had to buy tickets to the racecourse. But nowadays you can easily watch your races on TV and even live to stream them from individual apps. The traditional US horse racing takes place in Kentucky Derby on the first Saturday of May at Louisville, Kentucky.
Pros and Cons of Horse Race Betting
There are two sides of a coin and horse race betting is no exception. Let’s have a look at the advantages and disadvantages of horse race betting.
- A challenge that hikes interest to bet and win
- The opportunity to beat expert bettors being an ordinary one if luck favors.
- The satisfaction and joy of winning that make you happy and contented.
- High stakes which lead to a victory with a great deal of fortune
- Feeling of ecstasy and joy of being talked about in a group.
- Worrying about the bet and not enjoying the race.
- Losing all money at one go
- Bouts of depression and anxiety, leading to emotional lows.
- Losing interest in the game and feeling like a waste
- Develop an addiction to gambling.
Understanding the Payouts at Horse Race Betting
Bettors bet in horse races to increase their odds. For those bettors should understand how to read the odds at horse racing and understand the payouts.
Let us, for example, consider that the odds are 20-1. The first number amounts to the total money you will bag if your horse wins your bet. The second number is the amount of money you should spend on the bet which you only take back if your horse wins.
20-1 means that you will receive $20 for every dollar you bet on your horse. If you bet $5 on your horse and it wins then you earn $5 times $20 = $100 + $5 =$105. $5 is the return of the original amount you bet.
Sometimes, understanding payoffs get tricky when it involves mutual stakes, also called Pari-Mutuel. Here you bet for a pool of money and claim only a portion of it if the bet is won. A fraction of odds often keeps changing as more people keep wagering, and the day of the event nears. After the total money is collected from all the wagers, the taxes, expenses, and profits are deducted before the house distributes the remaining cash to winning bettors. For the bettor to know the amount of money, he can claim after investing in pari-mutuel betting; he/she needs to multiply the mutual payout by the amount invested and divide it by two. For example, if he had spent $50 and the mutual payout is $4 then he would get a payment of $100.
Conclusion About Horse Race Betting
You have to analyze and weigh down the pros and cons to figure out if horse betting is right for you and how much money you should spend on this. Any winning is a bonus but don’t feel dejected if you lose. Nevertheless, it’s an entertaining sport to watch. Perhaps today’s mind-blowing horse race betting tips will help you make a fortune in the future.