Horse racing betting is a fun and exhilarating way to enjoy an afternoon. Whether betting at your local horse racing track or online, for the newcomer there are a few things that one should know.
The main objective of the betting is to beat what is known as the Oddsmakers or the Odds Compilers so that you can win money from the bet. The way to place your wager is through Sports Books, either physically, or online. Please note that the Oddsmakers set the betting odds, whereas your Sports Books simply accepts the bet you place.
There are many different kinds of bets, the most commonly used one being the Straight bet. As the name suggests, you place a single bet on your chosen horse and if it crosses the finish line in first place, you win. Place is another option meaning that you can still collect winnings if the horse you pick comes in first or second place.
Show is a bet placed to encompass the odds of your chosen horse finishing in either first, second or third place. Things start getting more interesting as you move along to the next option which is the Combination Bet, which gives the option of choosing between two and four horses to win in a specific order.
If you are in the mood to choose the winners of three consecutive races, you would choose the Pick 3 betting option. Pick 6 is a similar concept, allowing the person betting to pick the winners of six consecutive races. Depending on the racetrack, some will provide you the option to choose between three consecutive sets of six races each during the day.
The Reverse Forecast betting option used in the United Kingdom allows a person to choose two horses that he thinks will cross the finish line in either first or second place in two consecutive races, the order being interchangeable. Conversely, the Exacta or Straight Forecast gives the betting man or woman the option to pick two horses that must finish the race in exact order.
The Treble Forecast, as the name suggests, allows you to bet on three horses to finish in a specified order. A bet placed using the Superfecta option requires the person betting to select the exact four horses expected to cross the finish line in exact order. If you bet on the Daily Double you would choose the horses that are your favourites to win both the first as well as the second race being run that day. If you thought horse race betting was easy, I’m sure you will be surprised!. If you want to bet on a chance with the Jackpot, you would pick six winning horses and then you would share in a portion of the racetrack’s daily jackpot prize.
An Accumulator or Parlay betting option makes simultaneous bets on various races being run at the track on the given day. Future betting is made on upcoming races that have not yet been run.These prizes do vary depending on the racetrack where the bet is made.
Horse racing betting is an invariably complex and interesting sports activity, encompassing its fair share of glamour and excitement which attracts participants from all walks of life. It will take a kiss from Lady Luck and a bit of skill and background knowledge of the sport to attain successful results, but I guarantee that is a fun way to pass an afternoon at the racetrack.