Some governments make laws distinguishing betting on horse racing from wagering on other sports. Some online sportsbooks themselves delegate horse betting to a seperate area of their online gambling sites. So, how does horse betting work anyhow? In truth, it’s not all that different from betting on football, basketball or baseball.
How does Horse Betting Work?
Like sports betting, horse betting is really all about betting with the brain. Arugably, that’s very different compared to playing roulette or slot games. While we can’t tell punters which horse to pick, we can offer some very good advice. This may yet help novice bettors get started with some jackpot winning tips and tricks.
Somewhere, something incredible is waiting to be known
Similar to any other competition, punters should not just barge into the bookies with a fist full of dollars and throw down money on the horse with the craziest name. Punters could, of course, do this, but they should expect to lose more often than not.
A better idea would be to take time to investigate each horse, each jockey, the type and condition of the track, the weather, and anything else which may seem relevant. Check online forums and social networks for betting tips from experts and authorities. The internet has placed a tremendous wealth of information at punters’ fingertips, so there is no excuse for not making use of it.
When there is a lot of money involved the odds of winning matter very little
Look to see what other people are betting on. Both offline and online sportsbooks, like Unibet Sportsbook, express this as “odds”. Readers not familiar with odds should learn how to read sports odds before continuing with our horse betting tutorial.
Online sportsbooks aren’t being capricious when they assign “Hayley Turner” odds of 50 to 1 against winning any 2011 English Classic. Someone – probably many people – knows something (or maybe many things).
As word gets around, people place their bets. As people place their bets, the bookies determine the odds to post, which goes hand-in-hand with what payouts they will give. Thus, unless you know something nobody else does, the wisest course may be to chase the action. The payout at 2 to 1 may not seem as inviting as it does at 50 to 1, but it is always better to win small than to lose big.
Obviously, if you have good information or have learned to trust in the force when it tells you to bet against the odds, you shouldn’t feel the need to be constrained to the “safest bet”.
Learn the different methods of horse bets
Rather understated among horse betting enthusiasts is the importance of understanding the multiple methods of bets available when horse betting. Fundamentally, these aren’t so different than the types of sports bets available when wagering on football, basketball, or tennis. However, horse betting has some exotic terminology and placing bets may vary at online sports books that support horse betting.
The first thing a horse bettor must realize: When wagering on horses, punters are not just limited to betting on which horse will win (finish first). Punters can also wager on whether any given horse will place (finish first or second) or show (finish first, second, or third). You can find all these options with sites like Bwin Sportsbook. This is can be a good strategy for a punter who feels confident in the horse, but not so certain that it will overcome all the competition.
Horse Betting Methods for Alternative Wins
In horse betting, a straight bet is still the most popular types of wager. However, horse bettors looking to maximize their winnings should also know the following types of bets:
- Exacta – a wager to select the first two horses to finish a race, in the exact order.
- Quinella – a wager to select the first two horses to finish a race, but without regard to order.
- Trifecta – a wager to select the first three horses to finish a race, in the exact order.
- Superfecta – a wager to select the first four horses to finish a race, in the exact order.
- Daily double – a wager to select the first-place winner of two races. These races may or may not be consecutive, but they are invariably on the same day.
- Pick 3 / Pick 4 / Pick 6 – a wager to select the first-place winner of 3, 4, or 6 designated races.
When punters are not positive about their ability to correctly order an exacta, trifecta, or a superfecta, they can “box the bet”. This means that the selected horses will all be the first horses to complete the race. The order is no longer considered. Boxing an exacta is the same as a quinella.
This when looking at how horse betting works, we must state the immense possibilities. Betting on horses also has propositions (props), futures, and even parlays. You can read more about Parlays here.