Horses, ponies, you name it… People bet millions of dollars on horse racing and has a long history as well which makes it a popular and very interesting form of a bet.
Today, we’ll see how to bet on horse racing and understand the actual concept of bet on horses.
Bet on Horse Racing
To begin, there are two categories of wagers to choose from when you are betting on horses.
- Straight Wagers
- Exotic Wagers
If you are just starting out, go with the straight wagers. It is simple and pretty much cheap. The idea here is straightforward. Pick one horse to come in first, second or third, and that’s it. Then you’ll wager the amount – The minimum amount is $2 in straight wagers.
On the other hand, Exotic Wagers require multiple bets on multiple horses, that too in a single wager. This makes it difficult and requires good experience, skills, and knowledge of the game before you can bet. Above all, it is very expensive.
Since it is the easier way to bet on horses, I’ll start with explaining it first.
• WIN – Bet on the horse that you think will come in first place. If the horse finishes first, you’ll profit.
• PLACE – This means that you bet your horse’s place. It isn’t necessary that you have to bet on first place always. You may bet, for example, that my horse will finish in 2nd place. If it does, you’ll win.
• SHOW – You can also bet that your horse will come first, second or third. Hedging like this increase our chances of winning; however, the payout is less.
• ACROSS THE BOARD – This means that you are betting on your horse to WIN, PLACE, and SHOW. It is also known as combo wager because you are choosing all the three different bets collectively. While this may increase your chances of winning, it is also very expensive. For instance, if the normal bet costs you $2, ACROSS THE BOARD will cost $6.
• WIN/PLACE, PLACE/SHOW – This is somewhat similar to ACROSS THE BOARD bet. In this case, you’ll bet your horse to WIN and PLACE. What this means is if your horse wins, you’ll collect money both for WIN and PLACE. Same goes for PLACE/SHOW. Once again, it is way too expensive. You’ll have to bet $4 at least.
Now that we know about Straight Wagers let us step into Exotic Wagers. It is hard to learn, very expensive and if you are not careful and don’t have enough skills, you can go bankrupt in no time.
• EXACTA – Suppose you bet on two horses to come in first and second in exact order. Let us say you place a bet of $2 exacta on horse 5 and 7. Now to win and profit from your stake, horse five must come in first place and horse 7 in second. While this may seem confusing and tricky but once you are a skilled horse handicapper, the payout will be lucrative. There is an option to “box” your exacta bet. This way, it doesn’t matter in which manner the horses win, you’ll profit if any of the horse finishes first.
• QUINELLA – In this type of bet you are to bet on two horses to come in first and second, irrespective of their order. However, your horses, either one of them, must finish in the top two spots, for you to win. Suppose you place a $2 bet on horses 3 and 5. If any of these horses come in first and second in any order, you will win. Pretty much same as the “box” right? The only difference is that QUINELLA bet costs you $2 while exacta costs $2 and $2, total $4.
• TRIFECTA – As the name suggests, you’ll bet on three horses which will finish first, second and third in an exact order for you to win the bet. In simple, if you placed a TRIFECTA bet on horse 1, 2 and 3, the only way to win is that horse 1 comes first, horse 2 comes second and horse three finishes in third place. TRIFECTA bet can also be boxed if you want to. Then the winning pattern won’t matter anymore.
• SUPERFECTA – Here, the bet is on four horse which will finish first, second, third and fourth in exact order. You can also box this bet with additional cost, and the min bet here is 10-cents which make it appealing.
What to Say to the Teller to Place Your Bet?
So you’ve decided which wager to choose, the next thing comes the teller of the horse betting game who will listen to your bet and will place accordingly.
Now you can sound like an idiot if you are unaware of what exactly to tell the teller to place your bet.
Here is what you need to tell him/her in order:
- Amount you want to bet
- Type of bet: Simple or Exotic
- Horse’s program number
- Racetrack and race number
How to Pick A Winning Horse and Ensure Guaranteed Win?
While no one can predict this exactly but with a little more information, you can easily track in America to pick a random horse who would win.
To successfully handicap horses, start with reading race day program. It has the information that can be helpful in making smart bets. You’ll also find the stats and history of all the horses racing in that particular game.
Also, see the class levels in which horse has been racing at. The better the class of a horse, the better it performs in a race and the higher your chances of profiting from your bet.
I would conclude my discussion saying that you should be patient and learn more, especially if you are a beginner. Consider the odds of the horse racing bet. Always find a reliable bookmaker online who will guide you through the horse betting steps.
Make sure that you set a reasonable budget and only that amount which you can afford to lose.
Learn from your past experiences and avoid mistakes in your upcoming bets.