Horse racing is one of the oldest sports, dating back to Antiquity. It has maintained its popularity over the centuries and it still remains the favourite past time for many people around the globe. Alongside the popularity of horse racing the betting scene surrounding the sport also rose with it.
Nowadays, gambling on horse races is more widespread than ever and millions of people worldwide have access to online sportsbooks, where they can place bets on their favourite horses. Since not everyone might be familiar with the subject, in this article, we will cover all the basics of horse racing betting websites and most of what you need to know to get started.
Common Horse Racing Bet Types
In a sport as complex as horse racing, there are many different bet types for you to choose from. Each of the wagers listed below comes with different odds, winning chances and payouts. Below, you will find a description of what each bet does and what are the probabilities of you winning it.
Of course, before you actually begin to place bets, there are some things which you have to know in advance. These may seem like no-brainers, but it is important to state them nonetheless. The name of the racetrack, the number of the race and the number of the horse in it are all required for you to place your bet. When you actually get around doing it, be sure to actually check that you have selected the correct parameters for your bet.
A Show bet is you wagering that your horse will finish in first, second or third place. This bet usually comes with conservative payoffs but your chances of winning it are relatively good.
A Place bet is a wager on your horse coming in at first or second place. This bet has a lower chance of success than the Show bet, but it does feature a better payoff.
A Win is a bet on a horse that will come in at first place. As you can imagine, the chances of winning this bet are lower than either Show or Place, however, a Win bet offers a much better payout than the other two. Naturally, you should only take this bet if you are sure that your horse is capable of winning.
A Quinella bet is wagering on two horses, which have to come in at first and second place. For this bet, it does not matter in what order the horses finish.
An Exacta bet is similar to a Quinella, in the sense that you wager on two horses both finishing first and second. However, in order to win an Exacta bet, the horses have to come in the order that you select.
A Trifecta bet is you wagering on three horses that will have to finish in first, second and third place. For the purposes of this bet, the order in which they finish is important and it has to be as you guessed it.
Superfecta is a bet in which four horses are selected. They have to finish in first, second, third and fourth place in the exact order that you described.
The Daily Double is where you wager on two specific races, picking one horse from each race. If both horses finish in first place you will win.
Pick 3 is a bet where you select three horses from three different races. If all three of the horses come in at first place, you will win this bet.
Pick 4 is very similar two the previous two in the sense that you place a wager on four horses, which have to finish first in their respective races.
As you have likely guessed already, a Pick 6 bet will have you wagering on 6 different horses in 6 different races. If your chosen horses win their races, you will also win this bet. This bet will produce the highest winnings, however, the likelihood of you winning it is very small. You should only take up this bet if you are absolutely sure in your choices and have significant evidence to back them up.
Bonuses and Promotions at Horse Racing Betting Sites
Any online gambler will be familiar with the concept of promotions at online sportsbooks. With so much competition out there, gambling websites have to stand out in a unique way to attract customers. This is where promotions come in. These are basically incentives for punters to register at a particular sports betting site since they will receive some form of value in return. Each website offers its unique promotions and while the terms and specific figures may vary from sportsbook to sportsbook, they all generally follow the same structure. Below, you will information for some of the more popular promotions types, which will certainly come in handy when you place bets on horse races.
Free bets are one of the most common promotion types offered at online sportsbooks. These are usually extended to newly registered or loyal punters and allow you to place bets on certain games, often including horse racing, at no cost to the user. This means that you can have a risk-free try at a sporting event and test your knowledge of the game. If you lose, it will not cost you a penny and your bankroll will remain intact. However, if you win, then you will get to keep whatever winnings you would normally receive.
Keep in mind though, that there are several rules that you have to abide by. It is often the case that you will have to place your bets at particular odds. Each sportsbook will lay out its own terms and you will have to follow them. While we cannot say with precision what these are, you should always look for them. Moreover, the winnings that you receive will be subject to a turnover requirement. This is a rule imposed on money that comes at no cost to you. It requires to you wager a certain amount of money before you are allowed to withdraw any of the bonus cash.
Typically, the turnover requirements are within reason and you could easily meet them by placing smart and educated bets. Additionally, you will have to meet this requirement within a particular time frame set out by the sportsbook within the terms of the promotion.
Free Bets are an excellent way to become familiar with how a particular sports betting website functions and to see whether you like it or not. They do not cost you anything but have the potential to give you an excellent boost to your bankroll.
Deposit bonuses have become a standard of the online casino industry, including not only sportsbooks but also online casinos, bingo halls, and poker rooms. In the case of sports betting sites, you will have to make a deposit when you open your account. Upon making this deposit, you may be offered a deposit bonus up to a certain amount. This bonus is referred to as bonus money which can be used to place bets on your favourite sporting events.
The bonus funds come with many of the requirements listed above, such as a turnover requirement, the need to stick to bets with particular odds and a time frame in which you have to meet the turnover requirement. Deposit bonuses are usually offered when registering an account, but the website may also extend more to you down the line when you have proven yourself loyal to the website. Much like free bets, deposit bonuses give you the opportunity to place punts at no cost to yourself, while also offering great monetary value.
Bet Refunds / Risk-Free Bets
Bet refunds, or risk-free bets as they are sometimes referred to, are wagers which the sportsbook can offer to refund if you were not fortunate enough to win. This is a way for the betting website to express its gratitude and to show that it values you as a customer.
Losing bets are refunded as bonus cash which also comes with a turnover requirement which you will have to meet before you can cash this money in.
Deposit and Withdrawal Options at Horse Racing Betting Sites
Of course, if you wish to receive a bonus or simply place bets at an online sportsbook you will need to setup your bankroll. To do this you will have to make use of one of the many supported online payment solutions since you will not be able to actually use physical cash. There are many payment services which you can utilise and sports betting sites have done an excellent job in supporting the most popular ones. Below, you will find a list of the most common services which you can use at an online sportsbook.
Everyone is familiar with credit cards. They are, after all, the most popular method to make payments and purchases on the Internet. However, there is much more to them than sheer availability. Credit cards will allow you immediately transact money from your bank account to your sportsbook balance and thus, you will be able to instantly start placing bets on your preferred horse races.
Moreover, they also offer impeccable security and quick withdrawal times. With a credit card, you can always be sure that your funds will reach their proper destination. Typically, most sportsbooks support Visa and MasterCard, though there are some which also accept payment via Diners Club and Discover.
Another popular payment method is prepaid cards. These vouchers are usually usable one time and will allow you top up your balance within a matter of seconds. Moreover, these services also offer unrivalled anonymity, allowing you to maintain your privacy on the Internet. However, there is a downside and a very significant one at that. Those who use prepaid cards will not be able to withdraw their winnings with this service.
Instead, they will have to rely on a different payment solution, such as a bank transfer, which can often take up to several business days to clear. Those interested in this method will usually be able to utilise Paysafecard as it is the most accessible and supported prepaid payment method in the online gambling industry, but some sportsbooks may also support regional services.
Cryptocurrencies are becoming ever more popular in the online gambling industry. These are online payment services which are unlike anything else we have seen since the inception of the Internet. They are decentralised and are controlled by no formal entity or institution, rather by their users. With cryptocurrencies, punters will be able to benefit from swift transactions and high anonymity, as there is no personal information needed to use one.
While integrating them into the mainstream has been slow, ever more websites are recognising their usefulness and are starting to support them. In fact, there is a good number of sportsbooks that are already offering special promotions to those who are currently using cryptocurrencies to make their transactions. There are a plethora of cryptocurrencies available but mostly the most popular ones are accepted by the few sportsbooks that support them. More specifically, you will be able to utilise cryptocurrencies such as Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Dash and others.
Among the more popular payment methods on the Internet, we find eWallets. These services allow users to hold and move money in their virtual bankroll as they normally would at a retail bank. With an eWallet, you will be able to safely store your money on the Internet and deposit to your online sportsbook in the blink of an eye.
Transactions made via eWallets are some of the fastest on the Internet, which includes withdrawals. Generally, when you cash in your winnings using an eWallet, the transaction will clear within a few hours. Moreover, since the service is not connected to your personal bank account, your privacy will be guaranteed. Punters can always rely on services such as Skrill, Neteller, ecoPayz and others to meet their needs.
Online banking has seen a surge in popularity these last few years. As more and more banks are accepting the Internet as a viable means to transact money, more and more users are able to connect their bank accounts to an online service and make deposits to their favourite sportsbooks.
Making a deposit to a sportsbook will take no more than a minute, while withdrawals will usually be processed within a few days. Security is another major perk of online gambling, as banks are some of the most trusted institutions around the globe. Punters will have access to many different online banking services, including the likes of InstaDebit, Citadel and others.
Security at Horse Racing Betting Sites
When using an online service, you have to sure that it will be able to store and use your personal and banking data in a secure fashion. Privacy on the Internet is a major concern nowadays and gambling websites have taken notice of this. They have taken measures to ensure that the personal and banking information of their user base will stay away from the hands of unauthorised parties. There have taken several approaches to accomplish this, but so far one has worked better than the rest.
Of course, we are referring to the encryption of all data that goes through the sportsbook’s servers. Using high-end technology, online sportsbooks are able to make all data completely illegible to those who do not have permission to view it. The cyphers used are typically 128- or 256-bit, which are notoriously difficult to break, taking on average several decades with modern technology.
In short, the security of online sportsbooks is as good as they come. When placing bets at a horse racing betting site, you will have nothing to worry about and your data will never become compromised.