HOW HORSE RACING BETTING WORKS

Horse Racing Betting Online

Horse racing is an ancient sport with a rich history dating back thousands of years. For as long as horses have been domesticated, people have been racing them. The tradition continues today, with major horse racing events held regularly around the world. In the United States in particular, you can find horse racing tracks in most states. And of course, where there is competition, there will be people betting on the outcome. Up until recently, all horse racing betting took place at the track. The internet has changed everything and now people can just as easily place real money wagers online.

HOW HORSE RACING BETTING WORKS

Here your guide for placing bets on horse races. The bets outlined below can be placed both in-person and online.

The best way to get started is to try out some of the basic bets first. As you become comfortable with how it all works, you can progress up to more complex wagers. Before we get into each type of bet, I’d like to give you a general overview of how the betting system works with horses.

Horse wagering is classified as a form of “parimutuel wagering.” This is a little different than sports betting, so read closely if you’re new to horse betting. In parimutuel betting, all bets on a specific race are pooled together. The racetrack then sets aside a percentage of that pool to keep for its own income and operating expenses. This is called the “vig.” This system ensures that the racetrack earns its money regardless of the outcome.

The percentage taken out of the pool varies depending on the track and type of bet placed. Generally, you can expect to see a vig of anywhere from 15% to 30%. After the vig is taken out, the rest of the money in the pool is used to pay out the winners. The payouts in a horse race change constantly up until the beginning of the race. As new wagers are collected, the offered payouts change to account for the new betting action. This is why favored horses offer lower payouts. 카지노사이트 More people tend to bet on the favorite, so when the favorite wins, the portion of the pool assigned to that horse has to be split up among more people. When a long shot horse wins, there tend to be fewer people backing that horse, so each person collects more winnings.


TYPES OF BETS

Here are all different bets that can be placed on a single race. The main rule is that the more difficult the bet is to win, the higher it pays. For example, a straight bet on a single horse to win pays pretty well, but a bet on the exact finishing order of the top 3 horses pays even better. Here are the most common types of horse bets:

STRAIGHT BETS

There are three different types of straight bets. These wagers are pretty simple and act as a good starting point for newbies.

Win: This is a bet on a single horse to take 1st place

Place: A bet on a single horse to take either 1st or 2nd place

Show: A bet on a single place to take 1st, 2nd or 3rd place

EXOTIC BETS

Exotic bets are more complicated than straight bets. In an exotic bet, you make multiple picks that include more than one horse and maybe even more than one race.

Exacta: A bet on two horses to take 1st and 2nd place. Your horses must finish in that exact order to win.

Quinella: A bet on two horses to take 1st and 2nd but the order doesn’t matter.

Trifecta: A bet on three horses to take 1st, 2nd and 3rd place in that exact order.

Superfecta: A bet on four horses to take 1st, 2nd, 3rd and 4th place in that exact order.

Daily Double: A bet in which you pick the 1st place finishers of two different races.

Pick 3: A bet in which you pick the 1st place finishers of three consecutive races.

Pick 4: A bet in which you pick the 1st place finishers of four consecutive races.