RacingBetter News
	Tuesday 30th July 2024

How to Bet on Horse Racing: The Ultimate Beginner's Guide for 2024

For those who have doubted that betting on horse racing is too complicated to grasp, it is now easier than relying on lotto numbers. It has been established that there are many ways to bet on an individual race but the basic bets that have defined the sport for the better part of the twentieth century are actually quite simple.

Straight Wagers

Those interested in horse racing for the very first time might consider placing Straight Bets which are Win, Place, and Show bets, which have in the past mandated a minimum bet of $2, this has however been reduced to $1 in most regions.

The Win wager requires the horse of your choice to be the first to cross the finish line. Thus, they provided for track expenses at the rate of 15-20% with the rest of the money going to people holding Win tickets. Whereas the Win odds are easily applicable on the tote boards, TV monitors or internet gadgets while Place and Show bets remain a mystery to some people. For instance, staking $2 on a particular horse at 8-5, means that if the horse wins, one would receive a $5 dot 20 which is observed. On the other hand a $2 bet on a long-shot horse at 29-1 could pay out up to $61 to 80 based on breakage rates. In terms of difficulty, Win bets are slightly harder to determine because of its fluctuating odds; nonetheless, it provides higher returns, particularly in backing underdogs.

Here the Place bet necessitates your pick to come out on top or place second. It is easier to cash than a Win bet, however, you do not get as much money because the amount is divided into two instead of one; the bettors with Place money on the first horse and second horse share the Place pool. Place odds and likely payoffs are not likely to be published to the public since they only depend on Runners and horse numbers. There are ways of getting rough payoff figures by making calculations based on the amount of money bet on each horse in the Place pool; however, it would be better if new players would simply engage in the game and not to be too analytical about it. Guess what, that is exactly what the mutuels department of the track is for.

The Show bet is the easiest of the three straight bets in horse racing as your chosen horse just needs to get the first three places. Since this type of option is relatively simple and since the pool is divided among three kinds of ticket holders, payoffs are usually relatively small. Any time money is placed on favorites the overall expected ROI is less than $1 for each $2 that is bet. It should be noted that the exact probability and possible earnings are not easy to come by, but the estimates can be made. The show bets can suit a player with a low risk taking level because the winnings obtained are relatively small; it can be as low as some coins in a dollar. With newcomers the bet taken is $2 to Win, Place and Show in a bid to get a better return on their investment. Nonetheless, this strategy will still end up in loss if the horses come second or third and the total of the pays cannot cover up the total staking amount.

Exotic Wagers

All other bets in horse racing are referred to as ‘exotic’ bets, and it would be difficult for a new bettor to win on them unless they applied beginner’s luck. Some of the easier exotics to cash on are; the EXACTA which is predicting the first two finishers in exact order, QUINELLA which is predicting the first two finishers in any order though it is less available most of the times compared to many other exotics, and the DOUBLE which is selecting the winners of two consecutive races. To boost a number of awards, the bettors employed a specific technique called aging called ‘wheeling,”, which will allow them to select multiple complements at the least reported minimum – normally one dollar. For instance, a $1 Exacta wheel of the horses 1 and 2 in the first place over the horse's 3, 4 and 5 in the second place costs $6, a $1 Double wheel of the horses 1 and 2 in Race 1 with the horses 1 and 2 in Race 2 cost $4. The second well-known trick among newbies is a SHOW PARLAY; it is a unified involvement of a group of individuals in the Show pool. For instance, four friends might go for a Show bet of $40, each of them contributing $10 for a particular horse. Should the horse place in the top three and pay $4 for Show, the group gets $80 for the next race’s Show pool. They keep wagering their winnings until they lose or decide to stop, preferably when they have increased the initial $40 to a much higher total. This method involves a certain level of chance; however, this is one of the safest ways to participate in horse race betting, making a typically low pay-out Show bet more interesting and quite exciting for novices.

In conclusion, the potential introductory types of bets are Win, Place, and Show; and then further into the deeper level bets such as Exacta and Double. Although entering the world of horse race betting might sound complicated to the average beginner, once you understand some of the rules and do some research it can be great fun. However, if you find the horse race betting a little stressful, but you still wish to have a great time and experience the race, then you have the horse racing slots games. “Frankie Dettori’s Magic Seven,” “Derby Dollars,” “Big Racing”, some of the famous titles that are the representation of a race course on your screen. For the players who prefer the slot games, Stellar Spins has a great list of the most popular slot games to ace up your slot games. Thus, irrespective of whether one decides to act as a bookmaker and bet on the horses or play through the slots, there are limitless opportunities to bet on horse racing.