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BEGINNER’S GUIDE TO BETTING ON HORSE RACING
Horse racing is one of the all-time classic ways to bet on sports and is not considered betting in some places but is called pari-mutuel betting. This means that bettors are placing wagers against themselves and not the actual track or house. At its core, it is an equestrian sport that involves a set number of horses in a race that is from a specific age group, ridden by jockeys.
The history of horse racing is a rich one with a foundation in many ancient civilizations, including Ancient Greece, Ancient Rome, Babylon, and Egypt. Chariot racing and mounted horse racing were very popular in Ancient Greece and Rome and were even a part of the Ancient Greek Olympics many centuries ago in the 6th Century BC. Much of the earlier versions of horse racing were riderless until some centuries later in Britain when horse racing, as we know it today, became popular amongst the aristocrats of British high society.
Even today, many different types of horse racing take place around the world. Flat racing is the most common type of horse racing where a group of horses will race from one point to another on an oval-shaped track. There is also jump racing, where the horses also have to jump over hurdles, harness racing where horses pull a driver, and even endurance racing, which is like an ultra marathon for horses. Currently, horse racing remains one of the most popular sports to bet on, with the Triple Crown races like the Belmont Stakes, the Preakness, and the Kentucky Derby attracting millions of dollars in bets each year.
Interesting Facts About Horse Racing:
1) It is believed that horses with larger hearts have an advantage over horses with smaller hearts.
2) In 1921, the winner of the Epsom Derby named Humorist, was found to have only one lung.
3) The Triple Crown is difficult to win because each race is different. The Belmont Stakes is longer, so speed and endurance are needed to capture all three races in the Triple Crown.
4) The weight limits for jockeys is 126 pounds. Most jockeys are small in stature.
Tips on How to Start Betting on Horse Racing
Are you ready to start betting on horse races at your preferred online sportsbook? Before you take the plunge into betting on the countless number of horse races from around the world, take some time to learn the ins and outs of betting on horse racing online.
While we cannot provide actual betting advice in this guide, we have accumulated some of our favorite tips to help you get your online horse racing betting career off to a fun and hopefully profitable start!
Tip#1: Set a limit on your bets and stick to it – Always the single most challenging thing for new sports bettors, and it is also one of the biggest reasons that new players often burn through their bankrolls. Set a limit on how much you can afford to lose in a given day, week, or month and stick to that rule as you are starting.
Incorporate systems like proportional betting to help sustain your bankroll and avoid bets with low odds but higher payouts like parlay bets. Stick to single match bets while using proportional betting, wager a specific percentage of your bankroll each time.
Tip#2: Learn the odds system: A horse race board can be a confusing thing to look at for those who are new to the sport. After a few races, you will realize what the odds mean for each horse winning the race, but take some time to balance the listed odds with your betting style. Remember, the odds are merely a guideline set by the bookmakers to get the most amount of action on each horse and is not necessarily an indication of how good each horse is compared to another.
Tip#3: Learn the sport of horse racing – You will always be a more successful bettor the more you know about the sport you are betting. Take some time before you get started to learn how the race mechanics work, what terminologies used within the sport and gain knowledge on the horses, jockeys, and teams in the race.
Tip#4: Learn how to bet on horse racing: Horse racing is a style of betting unique amongst all of the sports. The most common bet wins, place, show, which is essentially picking a horse to come first, second, or third in the race. But there are many other exotic bets which you can make on any given race. We will cover these later in the guide, but always educate yourself on what these bets mean and how they work.
Payment Methods Used in Horse Race Betting
A majority of online sportsbooks will accept the usual forms of digital payments. Credit cards, direct bank transfers, and PayPal are almost universally accepted now across any e-Commerce platform you use, and we’ll go into a bit more detail about them below.
Other new options have been gaining popularity such as eWallets and Cryptocurrencies, but they are far from being the standard and are less common than the three options below:
Credit Cards: The most common way that players can deposit right into their online sportsbook accounts. Most of the significant companies are accepted, including Visa, Mastercard, and Discover. Remember that some credit card companies do not allow the cardholder to make purchases on sports betting or gambling sites, so be aware of any restrictions before trying to use that card.
Direct Bank Transfer: A bank transfer is a direct debit from your bank account and is just as fast as paying by credit card and generally has a higher success rate for transactions than credit cards as well. You may need to enter your bank account details, so have that information ready before trying to deposit.
PayPal: PayPal is the premier site for transferring money online, but you need to sign up for an account and link it to a bank account before using it at any online sportsbook. It is safe, trustworthy, and easy to use and has become increasingly used at online websites as a method of payment. PayPal is great if you need to use different currencies as well.
Customer Support when Betting on Online Horse Racing Betting
If you are just getting started with your online sportsbook and have some questions or concerns, you are not alone!
Nearly every online sportsbook provides their customers with 24-hour around the clock customer service. Because online sportsbooks and online casinos are open 24 hours a day and seven days per week, there is always some form of customer service available via email, telephone, or an instant chat function.
These customer service representatives can assist you with anything from deposit or withdrawal issues to questions about specific horse racing related bets.
HORSE RACING – THE SPORT OF KINGS
There is not much to horse racing on the face of things. Of course, there are many different types of horse racing, but the fundamental rules are the same in all of those: the fastest horse wins the race.
Each race has its own specific rules regarding the number of horses in the race, the horses’ age, and the weight of the jockeys. Other than that, horse racing is pretty much a universal sport in how it is organized, whether it is a Triple Crown race or a local racetrack, horse racing is a staple in the sports betting universe and remains one of the most popular bets in all of sports.
Horse Racing Betting Explained
Horse racing is unique from other sports because it gives you the option of betting on multiple outcomes in the same race. Technically, you are also not betting against the house, you are betting against other bettors and other horses, so this is why horse racing is considered pari-mutuel betting and not full-on gambling. Let’s go over a few of the more basic types of bets and then a few more that are a little bit more fun and unique:
WIN, PLACE, SHOW
Think of these as Gold, Silver, and Bronze in each race. A bet on the Win is the highest odds and is a bet specifically on a horse to finish in the first place. Place is a bet on a horse to finish either first or second place in the race, and Show is a bet on a horse to finish first, second, or third. Another term for Show is In the Money.
ACROSS THE BOARD
This is a bet on a specific horse to win, place, or show. This is different from a Win, Place, Show bet because it is essentially three bets in one. If the horse Wins, the bettor collects three ways, if Places, the bettor collects two ways, and if the horse Shows, then one way.
These are a little more complicated and are more of an umbrella term covering any bet that factors on multiple outcomes in the same race. The following are examples of exotic bets.
This is a bet on the winning horses of two consecutive races.
This bets on the first and second place horses in that exact order.
This is even more specific and is up to the bettor on how many horses they want to choose. If the bettor chooses four horses, the Exacta Box bet will win if any of those horses came first or second in the race.
Similar to Exacta, except the two horses can finish in either order in the top two.
A bet in which the top three horses must be chosen in that specific order.
Same as the Exacta Box, but with the top three positions in the race instead of the top two.
WHICH ODDS DO YOU PREFER?
There are a few different types of betting odds that players can use, and it is entirely up to personal preference and has no effect on the bets or the outcome of the bets.
- Decimal odds: These are easy to understand and make complete mathematical sense as they are directly proportionate to the amount you wager. If you bet $100 at 1.50 odds, you will win $150.
- American odds: These are slightly less clear to read, but once you learn how the numbers work, it makes sense. You will notice American odds use (-) or (+) symbols before their numbers with the (-) indicating a favorite and the (+) the underdog in the matchup.
- Fractional odds: Again, similar to decimal odds mathematically but using fractions instead of decimals.
These can all be used depending on the bettor’s preference. Keep in mind that they are not interchangeable as 2.00 in Decimal odds does not equal +200 in American odds and vice versa.
Unlike other sports, horse racing is not a controlled sport in that there is no one real governing body that oversees horse racing around the world. Instead, each local area seems to have its Equestrian club or horse breeders that breed, raise, and train horses to become thoroughbreds. Specific trainers and jockeys are famous for raising successful horses, but there isn’t any official league for horse racing in terms of Leagues. Instead, there are the big races like the Triple Crown races that horses can qualify for.
LEARN TO BET GUIDES
Pick the Sport you want to bet on, learn the dynamics of the games, and tap into the best betting strategies developed over the years. Can you build that elusive hot streak? There’s only one way to find out. Always remember, Bet Responsibly, Bet Greatly:
American Football Guide
SPORTS COUNTRY AND STATE BETTING GUIDES
Wondering how the different U.S. States approach sports betting? the KGB team has provided in-depth guides on how various State or County laws stack up on sports betting. Check out the guides below, where we’ll investigate each state and help you in your quest to start Sports Betting:
Pennsylvania Sports Betting Guide
New Jersey Sports Betting Guide
Oregon Sports Betting Guide
Illinois Sports Betting Guide
West Virginia Sports Betting Guide
HORSE RACING BETTING FAQs
It can be, but you need to develop a system to analyze horses and how they perform. As with anything, the more you learn, the more success you can have.
Again, this is going to be based on your style of betting. Do exotic bets make sense to you? Or do you prefer looking at the Win, Place, Show instead? Whatever your style is, stick to wagers that make sense to you.
Yes, horse racing is available at most online sportsbooks, but some may offer more depth than others.
Yes and no. Some states in America consider this to be pari-mutuel betting, so it falls into a grey area that makes it a legal way to gamble.
Yes, if online sports betting in your country is legal, then horse racing should also be permitted to bet. Always check with your local online sports betting laws to make sure you know the regulations.
Yes, as long as the online sportsbook you use has a mobile app or a mobile-friendly site, you can use your mobile phone to bet on horse racing or any other sport available at your online sportsbook.
Again, this depends on where you are physically betting. Your online sportsbook will determine your location by GPS signal on your mobile phone or your IP Address on your computer internet connection. Generally, for race tracks, you will need to be of legal age in that state or country.