Horse racing is an age sport within the betting niche. For those who know the intricacies of the game, the possibilities are endless when raking in rewards by playing online. In the case of millennials, betting on horse racing can be tricky, however given the information floating on the net, many horse racing betting sites endeavour to offer great insights into how you can better your odds, which bet types to work with, how to place your bets and what you need to know if you are to profit from horse racing.
Let's have a look at a few key elements below.
Placing your wager
Betting on horses is no rocket science, although it does require some due diligence. The most important tools you will need for placing wagers are daily racing forms, handicapping tip sheets, and racetrack programs. These will guide you when deciding which horses to bet on depending on the form and previous race performance. With these, you will also have access to other information like jockeys, trainers, racetracks and horse numbers. Before placing your wager, you can calculate the actual payout as well which is something unheard of in previous years.
Horse racing betting markets
There is a wide array of betting options in horse racing. Just like in any other sports market, horse racing offers different odds of winning, which either fall into the categories of high, average or low odds of winning. Markets that offer a high chance of winning are often associated with lower payouts while those markets that offer a low chance of winning have larger payout potential.
Let's take a look at some of the most common horse racing betting markets and how they pay.
Higher odds of winning
Show- there is a very good chance of winning when choosing this market. The ‘show’ market means that you select a horse that finishes among the top 3.
Place- the ‘place’ market just like the ‘show’ market has modest payouts. When opting for this market, the horse you select has to finish either in 1st position or 2nd position.
Average chances of winning
Win- the horse you select has to finish in 1st position in the ‘win’ market.
Quinella- in the ‘quinella’ market, you have to select 2 horses that will finish in the 1st and 2nd position. They don’t necessarily have to finish in the order you selected but as long as they both finish in the first two positions, you are a winner.
Low chances of winning
Exacta- the ‘exacta’ market is a riskier bet as you have to choose 2 horses that will finish the race in the 1st and 2nd position according to your order. It is much more difficult to win in this market but if you do, the payouts are quite lucrative.
Trifecta- the ‘trifecta’ market is as hard as it gets in horse racing betting. You have to select the 3 horses that will finish the race in the same order as you choose i.e. 1st, 2nd and 3rd.
Other horse racing markets include theSuperfacta (pick 4 winning horses in the exact order), Pick 3 (your horse has to win 3 consecutive races), Pick 4 (horse has to win 4 consecutive races) and Pick 6 (horse has to win 6 consecutive races).
When it comes to horse racing bets, it is important to keep the following in mind;
- Listen carefully to the television simulcast commentator
- Choose your bet from the top ten winning jockeys (9/10 times these are the horses that win)
- 1 in every 3 favourite horses wins, however, at low payouts