Here’s a beginner’s guide to how to bet horse racing. If you’ve never bet on horses before, this guide includes everything you need to know.
Horse Racing Betting [How to Bet Horse Racing]
Betting on horse racing has been around for quite some time. Indeed, in the early days of horse racing, there was also betting on those races.
When you dive deeper into responsible horse race betting, you get into positive variables that no other sport provides. The thrill of the winning bet also provides motivation for the sport and its popularity.
There are a handful of resourceful tools out there online that can help many bettors. Whether you are new or have experience in horse race betting, these tools can provide you with a greater chance of success.
Before you look up every tool in the book for horse race betting, it is important that you have a basic understanding of the sport. It would also be beneficial to have your money situation lined out, which we can discuss later in this betting guide.
How the Horse Racing season is Constructed
There is a lot of effort that goes into a horse racing calendar. 2021 alone is going to be an exciting year for the sport, as previous years have been exhilarating.
There are a handful of events to take note of, but it boils down to the main two. Those are the Triple Crown which is in spring, and then the Breeders’ Cup race in the fall.
Other races that you should be accustomed to if you bet on horse races are the Kentucky Derby, Preakness Stakes, and Belmont Stakes. Each month typically has a handful of events, but it all depends on where the races are taking place in the US or global.
On the calendar events for months like March and April, you will see more scheduled events. This is typically due to nicer weather and springtime.
May is one of the most important betting months for horse racing since the Triple Crown begins and you have the Kentucky Derby. The month of June wraps up the Triple Crown events and also has a handful of others.
Moving on to the fall, you will see some events limited as compared to the nicer times of the year. The Breeders Cup takes place in November in California, so they usually have nice weather regardless.
Where to Bet on Horse Racing
Horse racing for the longest time was traditionally an in-person wager. This was well before the internet existed, and people could place wagers online.
There are still many horse tracks out there to visit and place bets on in real-time. Over the years, there have been a lot of closures to various tracks, but of course, these events are needed because where else would the horses race at?
When betting in person like this, you would either have to physically go to the race and bet or visit your local casino/sportsbook that offers this bet. Betting online, in general, is a different story.
If you do a quick search online, there are various names of reputable online sportsbooks to choose from. Most famously, you will see names such as :
- FanDuel Racing
Before you jump into one of those examples above, it is important that you do your research first. You never want to join one without looking into more information first.
When looking into these websites, you want to check out sign-up bonuses. These usually offer an incentive for joining their site or make an attractive offer an event.
Different Types of Horse Racing Bets (250)
There are a variety of different types of bets to make on horse racing. Below are the main betting types:
WIN: This type of bet is as simple as it sounds. You are placing a wager on what horse will win the race.
PLACE: This bet is a wager on your selection for a horse finish first or second. The Place pool is divided in two ways instead of just one.
Bettors that have placed money on either the first horse or second horse will be divided among the pool. Place odds and the potential payouts are not usually available to the public at first since they are dependent upon what horse runs first and second.
SHOW: For this bet, you would win if your horse finishes in first, second, or third place. So you would need to put a certain dollar amount on a few horses to place either first, second or third.
This is a solid choice for a few reasons. If the horse wins, you will be able to collect the payout on all three positions. If it finishes second, you can collect the place and show spots. Finally, a third-place finish will have you gain the show money.
Other bets: There are more bets out there to make that require more research. But if you want an easier method to look at, you can check out the following.
The Exacta will let you pick the first two finishers in one race within the exact order. The Quinella is a pick with the first two finishers in a given race but in either order. Double allows you to pick the winner of two consecutive races.
Finally, you might even see bets such as the following:
- Superfecta: This bet requires the correct four placement of four horses
- Daily Double: this is when you pick the correct winner on two consecutive races
- Pick 3: This is when you pick a winner three consecutive races in a row.
- Wheel Betting: this one allows some flexibility within an exact bet. If you have a winner but not sure where to place another horse for a second, you can use this bet option to move horses around easier.
How to Live Bet on Horse Racing
When you look at your sportsbook of choice, you might be able to see live betting. Most nowadays have included this betting option.
Since the beginning of horse race betting, this style of betting has been the traditional betting option. As sportsbooks have evolved online, the live betting option brings this true to today.
When live betting is available, it is a very useful tool. You can watch your races in real-time as these events unfold. It also allows you to study the races and become familiar with a particular horse or more.
Live betting will appeal to horse race bettors that are on the go or enjoy watching the events from home. If you feel like a particular jockey or horse will not perform well, you can check out these types of things in real-time.
When you are attempting to make a live bet, make sure that you follow closely to your regular bets. This means that the only difference is one is in real-time versus one you place and wait until the end.
By staying consistent with your bets, you do not allow yourself to be caught up in the live betting action. However, live betting is still a valuable option.
Tips for Betting Horse Racing
Before betting on a horse, you want to check out a few different things first. These can range from the odds to weather and even likely horses that can win.
You want to make sure you understand the type of bet you are wagering on. If you are not familiar with a bet, make sure you know what it is about and not go with one simply because you read it was a good choice.
Make sure you have your betting guidelines laid out for your money. Try creating a budget and stick to what works best for you.
Do not be afraid to do a lot of research for your bets. This is one of the most crucial betting tools that you can do for yourself.
Once an event is over, you can compare your bets to how the horses performed. This will also set up a lot of opportunities down the road.
Finally, you want to see how the weather is going to be. If bad weather strikes, the event is most likely canceled. However, if it is not favorable conditions, you might want to wait for a better day so that this does not affect your potential horse of choice.
Horse Racing Betting FAQ
What is a good betting amount?
Some bets can start fairly low, around $2 a wager for most races. It all depends on what you are comfortable with spending. If you want to wager only $5 or $500, this all can vary from one person to the next.
How can I practice my bets?
If you are unsure of your bets or are wanting to be cautious, you can simply put your thoughts on paper. Writing down a potential bet could help you in your betting experience and help create a long-term strategy.
What is the best betting site?
This will be debated heavily by many bettors out there. It all depends on a variety of factors that lead up to someone picking and choosing a sportsbook. Most notably, bettors like the payouts and payment methods.
What are the most common horse racing bets?
Win, Place, and Show are the three most common betting options since they are arguably the most attractive. As mentioned above, you have a variety of options to choose from.
Should I take the sign-up bonuses?
Depending on the sportsbook of your choice, you might have a welcome offer when you sign up. Before you take upon the offer, it would be a great idea to check out the terms and conditions on the offer first.