How to Bet on Horse Racing

horse racingHorse racing’s history is distinguished and long, and actually very interesting. Horse racing was a common practice in Babylon, Syria, Egypt and Ancient Greece. It is important to mention that even in Norse mythology horse racing played a significant role.

Chariot racing was one of the most popular sports in Ancient Greece and Byzantium. The races were quite dangerous since both the horse and the driver suffered injuries. These races were very popular in the Roman Empire, too.

It is believed that Thoroughbred racing emerged in the 12th century as the knights of England returned from Crusades, brought Arab horses and then started cross breeding the English horses with the Arab ones. Soon after, the nobility started to wager privately on the races between these horses.

A couple of centuries after, specifically from 1660 onwards, horse racing events took place at Newmarket. The races advanced as several horses were able to participate and spectators were given the opportunity to place bets. Thus, the sport was referred to as a “kings’ sport”. Moreover, a few racecourses were held and in 1750 the Jockey Club was established to govern horse racing. Rules were created, they started naming the races and the General Stud Book was introduced in order to record the races’ pedigree.

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The first race in the USA was held in 1665 and the US Stub Book was created in 1868. In the late 19th century the American Jockey Club emerged. In the 1900s betting was banned, but pari-mutuel betting made the horse racing betting possible in 1908.

Nowadays, horse racing is one of the most popular sports. People can enjoy different types of horse races and follow a great number of events. Plus, horse racing remains among the most preferred sports to place bets on to this day. It is extreme, it is exciting, not to mention profitable, and bettors are delighted to see who will be the fastest and most skilled horse.

To sum up, betting on horses is a lot of fun and the best part is that it can help you generate decent profits. But there is a tricky part – you cannot rely only on luck, you need to know what you are doing in order to beat the „odds compliers“ or the „oddsmakers“. Therefore, you must learn how to properly place bets on horse races. Keep on reading to gain all the information you need to be a successful punter.

Placing Wagers on Horse Racing

horse racing bettingPlacing bets on horse racing is not complicated at all. In a few words, you choose which horse you want to back up, you place your bet and hope for the best. However, if we put luck aside, when you are skilled, there is a greater chance to collect winnings after the end of the race. So what you have to do in order to place a winning bet?

First, you need to state the name of the racing that you wish to place your bet on, then you should carefully select the number of the race. After that, you need to specify the amount you decided to place as a bet, the type of the wager and state which horse you wish to put your money on. And finally, you should check the betting slip to see whether you’ve filled it correctly before you place your bet.

Examples for 2 Bets Payoff

Of course, along with the excitement from betting, the main purpose of placing bets is to profit. You should know how much can you win and what to expect. For example, if you place £2, you need to multiply the first number of the odds of the horse you have chosen by 2 and then divide the result by the second number and add £2. It is very simple, isn’t it? Here are a few examples of payoffs of the £2 bet:

Odds £2 Payoff
1/9 £2.22
2/5 £2.80
6/5 £4.40
7/2 £9.00
6/1 £14.00
12/1 £26.00
16/1 £34.00

Types of Horse Race Wagers

bet on horse racingOf course, your bets would depend of the odds that the bookmaker offered. So your first job is to compare the odds before you place your bet. Most web-based sportsbooks give you the opportunity to choose between a great number of betting types to make your betting experience even more thrilling and enjoyable. Some may offer less betting varieties than others. Below, you will find the types of bets that are most commonly placed on horse races.

The easiest and most common betting type is the Straight bet, also known as a Win Bet or a Single. You simply choose which horse will finish first. You win only if the chosen horse crosses the line.

The next one is the wager for place. This means that you will achieve success, if the horse you have selected finishes first or second. A show wager will gain you profit, if your horse crosses the finish line 1st, 2nd or 3rd. If you feel more confident, you may place a combination bet. It covers from 2 to 4 selected horses to cross the winning line in a chosen order.

Pick 3 is a betting type which requires you to select the winning horses of 3 consecutive events. The next wager is Pick 6, which is slightly different from the Pick 3 – you need to pick the winner of 6 consecutive tracks, where the first race is with priority. You can select the first 6 races, the middle 6 or the last 6. This wager type is very risky, but you can win millions.

Reverse Forecast or Quiniela is a bet on which you select two horses to finish 1st and 2nd. The next wager type is known as Straight Forecast, Perfecta or Exacta and is the same as the bet type mentioned above, but the selected horses must finish in the specified order. Treble Forecast, also known as Trifecta and Tricast, is exactly the same as the Straight Forecast, but you need to choose three horses to finish in the order you’ve specified. Superfecta is when you choose four horses to finish in a certain order.

Daily Double bets require you to pick the winners of the 1st and the 2nd tracks on the same day, but you must place your bet before the start of the first horse race. You may place a Jackpot bet. All you have to do is select six races and specify who the winner of each race will be. You might win a great amount of money if your prediction is correct.

Of course, multiple bets are also a possibility. You can place accumulator or parlay bets. In order to place such bets, you need to select two or more racetracks. But the tricky part is that every selection must be predicted correctly in order for you to win the parlay. Sometimes the races are postponed, canceled or end up in a tie. In such cases the parlay is reduced by a selection. For example, if you place a Treble, it will become a Double or if your bet’s a Double, it automatically becomes a straight one. You can gain huge profits, if you achieve success.

Future bets are very popular, too. At the beginning of every season, the online bookmakers offer odds for the horses. But the odds go through changes and most often they are reduced. However, if you win, you will be paid off at the odds you’ve originally placed the bet at. If you have enough knowledge of the races and a good judgment, this could be among the most profitable betting types.

And last but not least, you can place the so called Exotic Bets on more unusual sports events and activities, related to horse racing.

Useful Tips

horse racing tipsWhen you want to place a bet on horse racing, you are always looking to be successful, right? Here are some tips that may help you place better bets.

Maybe the first thing that can overwhelm you are the betting options. You do not have to use them all, select one or two bets that suit you best and place your wager. Another thing is that you may not know on which horse to place your bet. If this is the case, maybe you should not bet at all. Or you can pick the second, the third or the forth horse. If you are not experienced enough, you should stick to simple wagers. Later on, when you gain more knowledge, you can place more complicated bets. You should go “all in”, only if you feel you have the advantage.

Statistics show that 90% of the races are won by the ten top horses. But 33% of the time the favorite horses win at low payoffs.

Another good advice is to follow the race and listen to the commentator. He or she can give you good advice on which horse you should bet on.

Also, it is important to remember that the morning line is the prediction of how the public bets on the race, not of which horse is favoured by the bookmaker.

The most common bet size is £2. It is surely a possibility to bet £100, too, but it would be more reasonable to keep the wager low, at least in the beginning.

It is usually recommended to search for information before you place your bet. You may find out what the bloodline of the horse is, who is the trainer, the weather report for the day of the race, how fast does the horse run or even if the horse has these black patches, called “blinkers” in its eyes, which may affect its abilities to race and so on. Of course, you should consider the past performances of the horse you have chosen to back up.

If you feel more confident in your skills and knowledge, you may combine bets to maximise your profits. It may be more risky and costly, but the payouts are definitely higher.

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