Horse Racing Betting Guide

Horse Racing is one of the few sports that has a long association with gambling. People have been placing wagers on horses since the days of chariot races. Modern horse racing is performed at several different race tracks throughout the world. While it is customary to watch the race and place bets at the track itself, many people have begun using online horse racing sportsbooks. Some of the best horse racing sportsbooks even offer live streams of races as they happen, so bettors can receive instant results on their horse of choice. For new bettors, the world of horse racing can seem intimidating, but knowing what the bets are can help immensely.

Win Bet

The simplest of all horse racing bets is a win bet. In this wager a bettor will choose the horse that he or she believes will place first overall in the race. As the bet covers only one horse and one position, the payout is usually much higher. The less likely a horse is to win, the greater amount of money will be paid out if the horse does in fact win.

Place Bet

When betting on a horse to place at a horse racing sportsbook, a bettor will pick the horse that he or she believes will come in second place. In the case that the horse places first, the horse racing sportsbook will still pay out to a bettor who bet on the horse to place. A place bet offers less money than a win bet to any winning wagers.

Show Bet

Much like the place bet, a show bet in horse racing means placing money on a horse to come in at third place or better. This is one of the easiest bets to win in horse racing, however the payout is very low which can make it difficult to generate a large win.

Trifecta Bet

In horse racing, a trifecta bet is placed on three horses at once. The bettor must pick the horse he or she believes will win, place and show. The bettor must pick the correct order of these horses as well. The trifecta bet only covers one horse race at a time. The trifecta bet has some of the highest payouts in horse racing, however the difficulty in picking the winning combination balances the scales.

Exacta Bet

An exacta bet is in the same vein as a trifecta bet when it comes to horse racing. A bettor will pick two horses – one to win and one to place. The bettor must pick the exact order of the horses in order to win. The payout is still greater than a single horse bet, but it is less than a trifecta bet.

Quinella Bet

The quinella bet is another horse racing wager on two horses. The point is for the bettor to pick the two horses that he or she thinks will place either first or second. Unlike the exacta bet, a quinella bet does not depend on the exact order of the horses. Horse racing bettors find a quinella bet to be an easy win, however the pay out is considerably lower.

Daily Double

The daily double is a horse racing term that refers to a bet on two horses over two races. The bettor will pick a horse that he or she believes will win the first race along with a horse he or she believes will win the second race. This makes for a higher payout than a win bet as a bettor must correctly guess the winner twice in a row.

Multiple Horse Bet

Depending on the horse racing sportsbook, there may be multiple horse wagers offered. These allow bettors to put money on several horses over the course of several races. Similar to a daily double, horse racing sportsbooks offer these wagers on three, four, five or more races in a row. The more races and horses added to the bet, the bigger the payout will be. However, if one horse in the sequence should lose, the entire wager will be lost.

Choosing a Horse

It might seem like choosing the right horse is taking a stab in the dark; however, there are a few tips to keep in mind. In horse racing, it’s a good idea to stick to betting on the jockey or owner who is in the current lead. If a horse has just come off of a win and the win was by a great margin, the horse is likely to win again. In horse racing, the drug Lasix is sometimes given to horses. When a horse is first given Lasix it usually places first. In many cases, the horse will also place first when given its second dose of Lasix.

Placing Bets

Knowing the types of bets that can be played is a crucial step in learning how to wager on horse racing. To start placing bets, a rookie bettor should first sign up at a trusted and secure horse racing sportsbook web site. Once a membership is established, bettors can add money to their sportsbook accounts and place wagers on horse races immediately. A wager begins when the bettor selects the type of wager he or she wishes to make. After that, the bettor will select the horse or horses that he or she believes will win. The final step for the bettor is to select the amount of money he or she wishes to play.