Horse race betting is not only a great way to add thrill and excitement to your day, but it can also be a decent source of income if you do it right. It’s important to approach horse race betting with caution and precision. In this guide, we’re going to go over how you can get started with horse race betting and even make some money in the process.
Know the basic types of wagers
It’s important to know the basic types of wagers you can place, as well as how they are different.
In order to actually win your bets: You must choose which horse will finish first.
In order to place your bets: You must choose which horse will finish either first or second. If the number of place-finish bets is greater than two times the number of win-place bets, then payoffs for these types of bets are reduced by a fixed percentage. Otherwise, they’re paid at their full odds (as in pari-mutuel) betting systems.
The amount wagered per dollar wagered is known as “the handle.” The handle varies depending on things such as where you’re betting, what types of wagering options are offered, etc.
Understand your odds
The odds of a horse race are determined by the bookmakers, who set them according to how likely they think each horse is to win. The odds are expressed as a fraction or percentage, for example:
1/1 – You will win your stake back plus an additional amount equal to your stake.
3/1 – You will win your stake back three times over (plus an additional amount).
Do your research
The first thing you should do is look into the horse you want to bet on. Know what it is and what it has done in previous races. If you know that a certain horse has won three out of its last five races, then that gives you an edge in betting on them.
Know who will be riding the horse in this particular race as well. A jockey can determine how well or poorly a horse performs, so knowing their record could help you make a decision about whether or not to place a bet with them at all.
Doing research on past performances of both trainers and jockeys can also help inform your decision about whether or not placing any money on the outcome of this particular competition would be worthwhile.
Bet in small amounts
The best way to learn how to bet on horse races is by betting in small amounts. Betting in small amounts allows you to learn from your mistakes and enjoy the process of learning. You will also be able to put more thought into each of your bets, since there will be less pressure on them than if they were larger.
Finally, horse race betting takes a great deal of research and understanding to enjoy. Betting on horse racing is a serious business. You need to know the basics of betting on horse racing and how it works, as well as some of the more advanced tips that can help you make more money from your bets.