When looking at the list of sports you can bet on; horse racing is one of the top favorites for a good reason!
It has the utmost unpredictability, making it fun for punters worldwide. It’s also easy to understand, which is perfect for everyone, especially complete beginners!
This guide covers everything you’ll need to know about how you can place bets on racehorses. It includes a guide to what kind of bets you can place, choosing where you can place your bets, and the terminologies you need to familiarize yourself with.
What Types of Bets Can You Place?
When looking up tips for first time betting, you’ll surely encounter different betting options. The types of bets you can place in a horse race consist of two categories: basic bets and exotic bets. Its name gives punters an idea of how easy or complicated the bet would be.
Basic Wagers
Win bet – It’s as simple as it sounds. You have to pick one horse that you predict will win the race. If your selected horse wins the race, you will also win! It means you can receive your wagered money and earnings from the bet.
Place bet – It consists of picking a horse that you think will win either first or second place. You can earn winnings if the selected horse wins in the top two places.
Show bet – It’s like a place bet; however, it covers the third place. You’ll pick a single horse that you predict would win in either of the top three places.
Single-race Exotic Wagers
Exacta bet – It’s like place bets; however, you must choose two horses that will place first and second place in the correct order.
Quinella bet – It doesn’t matter what order the horses finish in, but you have to predict and wager on the first two finishers of the race.
Trifecta bet – It’s like an exacta bet; however, it adds another level of complexity since you will also predict the third placer. You must predict the race’s top three finishers to earn your winnings.
Superfecta bet – It adds another place, which is the fourth place. You have to predict the top four finishers of the race in the correct order to win your wager and earnings.
Super Hi-5 Bet – You would predict the race’s first, second, third, fourth, and fifth placers.
Figure Out How and Where You Want To Place Your Bets
This betting guide also covers where you can place your bets and how. Your main choices are betting websites and physical betting stands. How would you like to place your bets? To answer this question, you would have to look at your lifestyle. Are you a busy person? Do you have time to visit tracks yourself and place bets traditionally? Do you see horse betting as a past-time?
These questions help determine what kind of horse bettor you are. For example, a betting website would serve you well if you’re a busy person and you see horse betting as a past-time after a tiring day. It’s also preferable for individuals who don’t like to travel far and have to pay for travel expenses to bet.
However, if you have the luxury of paying for the travel expenses and watching the horses’ race live, traditional betting might be your calling! Nothing beats the experience of seeing the horses in person, cheering in the stands, and hoping that your ticket pans out.
When deciding where to place your bets, evaluate the pros and cons and your preferences and lifestyle.
Familiarize Horse Racing Terminologies
If you’re going to bet on racehorses, you need to know the terminologies typically used. Unfortunately, there are plenty of confusing words and jargon, which may confuse unseasoned horse racing fans.
Here are the common horse racing terms you need to familiarize yourself with so you can join in with the horse racing talk when betting at the races.
In-running – It refers to anything that happens in a race.
Juvenile – It’s a term for a two-year-old horse.
Gallop – It’s a training strip that horses use to train.
Handicap – It’s a horse race where horses carry different weights, depending on their overall rating. A handicapper would determine the rating.
Handicapper – It’s an official that assesses how racehorses should be rated and valued based on the contender’s previous performances.
Odds – It’s a chance offered to bettors for a selection to win.
Turn of foot – The term used to describe a marked acceleration during a race.
Thoroughbred – It’s the commonly used term for horses that are used for horse racing.
Final Thoughts
Generally, starting as a beginner involves a lot of nerves and anxiety; betting on racehorses doesn’t escape people from that. Thankfully, horse betting guides are available on the Internet that you can use at your discretion. It helps aid you throughout your betting experience and can even give you tips on how to earn your earnings in a race successfully.
Remember that knowledge would be your best friend when gambling and predicting outcomes!
Read more:
How Can I Bet On Horse Races?