Horse racing is a popular sector when it comes to the betting industry. Hence, having some knowledge of betting will take you a long way in placing your bet. If you are a novice, the guide will help you understand betting and find the methods to choose from horse racing.
How to place a bet
So now you know what type of wager you’re going to place. It’s now time to put your wager.
Bookmakers like HorseBetting.com offer a variety of betting options where you can find your preferred betting site. As a result, you can stake according to the wagers addressed above.
Terminologies in horse racing
One of the most terms is the ‘going.’ The going relates to the quality of the ground; if it’s “good to firm,” it’s faster; if it’s “good to soft,” as it sometimes is after rain, it’s slower. The going is crucial since most horses prefer certain surfaces and are much more successful on them. The Racing Post is a useful source of information, and you can also look at the race card.
A seasoned racegoer will rarely mention the odds; instead, they will refer to the horse’s “price.” Always inquire about the price of a horse before betting on it. This will serve as a guide to its structure. If a horse is priced at 50–1, its form isn’t likely to be stellar; this isn’t to suggest it won’t win, but it’s unlikely. If the price is even money, such as 1–1, the horse is heavily favored, but you will only double your money if it wins.
Another term that is worth noting is the “trip.” A race’s trip is the distance traveled. Horses tend to perform better over longer distances. For instance, a horse that performs well over one mile may suffer in a race of a mile and a quarter.
Types of bets horse racing
When betting on the horses, you have two types of wagers to pick from straight wagers and exotic wagers. It’s better to stick with straight bets if you’re a newbie. They’re easy to make and inexpensive. You just choose which horse will finish first, second, or third. Most tracks have a $2 minimum bet for a straight wager.
Exotic bets allow you to place several bets on multiple horses in one bet. Exotic bets are more difficult to win than straight bets, need a higher level of skill and expertise in horse selection, and are more costly. Exotic bets, on the other hand, payout substantially more than straight bets.
The difference Betting using the two types of bets wager
A straight wager can only be placed for one horse. Here are some terms used in a straight wager.
- WIN– You’re wagering that your horse will be the first to cross the finish line. You get to collect your winnings if your horse comes in first.
- PLACE – When you bet on your horse to “place,” you’re predicting whether he’ll finish first or second. You get to collect if your horse places first or second. A place bet pays out less than a winning bet, but you have the assurance of knowing that if your horse finishes in the top two positions, you’ll get paid.
- SHOW– You’re wagering on whether your horse will finish first, second, or third. You have a better chance of winning since you’re hedging your risks, but the payout for a show bet is far lower than a win or place wager.
- WIN/PLACE, PLACE/SHOW– These bets are similar to an across-the-board bet in that they combine numerous straight wagers into one bet. You wager on your horse to win AND place in a win/place bet. You get both the victory and the place money if he wins. If he comes in second, you just get the money for second place.
Exotic wagers allow you to place a single stake on many horses, increasing your profit possibilities. However, as I previously stated, they are considerably more difficult to win than straight bets, may be costly if you aren’t attentive, and demand far more talent in assessing horses. After you’ve placed a few straight bets, feel free to try some unusual wagers.
- EXACTA– You’re wagering on two horses to finish first and second in a certain sequence. If you bet $2 on horses 3 and 5, you can only win if horse number 3 is first and horse number 5 comes in second.
- QUINELLA– A quinella bet is when you place a wager on two horses to finish first and second in any order. You win as long as your two horses place first and second. So, if you wager $2 on horses 1 and 6, you can win if horse #1 and horse #6 finish first and second, respectively, in any order.
The guide ensures that you will have a smooth process when placing your first wager on horse racing. Also, it is important to research the horse you intend to bet on. It helps you compare the trips and horses in the race. Remember to have fun when placing your first wager.