Horse racing has a rich history dating back to ancient times, and it is still one of the most popular sports to bet on. Learning the ins and outs of horse racing can be intimidating for beginners. Here is a guide for you, explaining all the things you must know about horse racing as a beginner.
How to bet on a horse racing
Before giving you the step-by-step process for placing a bet, let me tell you what all you need for betting vaguely. You need to find a reputable sportsbook on online betting sites. You should also choose a race that could be anywhere in countries like the UK, US, Canada, Africa, etc. By thoroughly researching it, you can choose the horse you want to bet on. You must decide the amount you want to bet and the odds you think offer value.
Steps for placing the bet
- After selecting a reputable online betting website, click on Join, which can be seen at the top of the page.
- To sign in, fill out the person’s details, such as name, date of birth, email address, etc.
- Submit the sign-up by confirming and verifying
- Once your account is activated, it is time to put in the deposit. For this, you need to log in first. Then navigate to the cashier and deposit through your preferred transaction method.
- On the left-hand side, you can see the available sports and click on horse racing among them.
- Pick the match you want to choose after evaluating all the factors.
- After picking the horse race to bet on, confirm the amount you want to bet and add it to your bet slip. Confirm the race and the bet.
Types of horse racing bets
Win
A win bet is the easiest and most basic bet to place in horse racing. It involves simply placing the bet on a horse to finish first, and if your chosen horse wins, you will receive the winner’s money based on its odds.
For example: Horse A: 3-1 (+300)
Horse B:5-2 (+250)
Horse C: 8-1(+800)
If you bet $20 on horse A to win and it does, you will receive a payout of $60 in profit (3-1 odds mean $30 profit for every $10 bet) plus your original $20. For a total of $80.
Place
Place bets have a greater probability of winning than win bets. In-place bets, allow you to bet on a horse to finish in either first or second place in the race; that is, you should predict the position. If the selected horse crosses the finish line in either of these positions, your bet is a winner.
Show
With a show bet, you are betting on a horse to finish in the top three of a race. The payout for this is consistent, meaning no matter if your horse comes in first, second, or third, you will receive the same return.
Across the Board
Across the board, betting is a combination of all three: win, place, and show. In this betting, the bettor chooses a single horse and places all the bets on it. By betting across-the-board bets, you are strategically covering all three outcomes, and you could win all three bets with a single horse, but the stakes have tripled. That is, if you place a $5 ATB bet, then the total stake is $15.
Exacta
Exacta is a bet where you have to predict the horses that come in the first and second positions in the order. This bet offers high odds and potentially high payouts too. If you are unsure about the exact order, then you could go for the Exacta box, where you do not have to worry about the correct order, but it requires a higher stake to bet as it covers all the possible options.
Trifecta
This bet is tougher than the exacta as it requires you to predict the first three horses that are going to finish in order, and just like the exacta, you can combine a box so that you don’t have to predict the exact order.
Superfecta
This bet is way tougher than the Trifecta, as it requires you to predict the first four horses that are going to finish in order. The difficulty of this bet is very high.
Hi-5
Hi-5 requires you to predict the first five horses that are going to finish the race in order. It is the rarest bet.
Daily Double
Daily Double is a well-liked and strategic horse race bet where you should predict the winner of two games in a row. To win, you must choose two different horses in two different races, and both of them must win.
Pick 3/4/5/6
This is an extended version of the daily double and asks you to predict the consecutive wins.
Pick 3 is for predicting a sum of three games consecutively.
Pick 4 is for predicting a sum of four games consecutively.
Pick 5 is for predicting a sum of five consecutive games.
Pick 6 is for predicting a sum of six games consecutively.
Betting tips for horse racing
- Try to get to know the horses. Look for the horses that won the last time out and the ones that have strong chances of winning again. Look for a horse with a streak of 2-3 in the last five games.
- Also, while knowing the horses, if the horse is at its personal best, then it has the potential to be the winner.
- Just like athletes in other sports, horses also have preferences when it comes to racing surfaces. Understanding this preference will help you decide which horse to bet on. Firm or good-to-firm surfaces suit daintier horses and produce the fastest speed. On the other hand, softer turf favors horses that get power from gripping the ground, often those with a stronger stride.
- Picking the winning horse is challenging, but each-way bets offer a safer alternative. They split your bet in half. Each way bet provides insurance if your chosen horse finishes close but doesn’t win. While the potential profit is reduced if your horse wins, you will still receive a portion of your bet back if it finishes in the place that you have guessed.
- If you are new, it is better to start the bet with a smaller amount. New bettors often take the risk of going too big or too early, but betting small reduces the overall risk.
- Like all games, horse racing also has favorites, but betting on the favorites in horse racing is much more sky. Horse racing is a hard game to predict, with favorites only winning 30% of the time. Betting solely based on the favorites can lead to financial loss.
Conclusion
Now you know the basics of how to place a horse racing bet online, the types of horse betting, strategies, and a lot more. This will help you make a well-informed decision while betting. Remember to bet with low stakes as you are a beginner.
