Anyone who follows horseracing has at least considered making bets on their favorites. Betting on horses has a long history and is now something which anyone can do, not just those who own horses themselves. Before you make any horseracing bets though, it’s a good idea to get better informed about how betting on horses works. The idea of betting on horses is something which is simultaneously simple and complicated, so knowing the facts about horserace betting will let you make bets which have a better chance of paying off.
The basics are easy enough to understand: winner takes all, period. The most important thing to know about betting on horses is that there are two kinds of horseracing bets. There are straight bets and exotic bets. Keep reading to learn more about straight bets and how to make wise wagers on horse races.
WIN BETTING – Your bet is placed on one horse which must place first for you to collect on the bet.
PLACE BETTING – Your bet is placed on a particular horse placing second in the race (this is also called place). If the horse you have bet on finishes first or second, you collect your winnings. You won’t win as much as from a win bet, but you will have a better chance of winning.
SHOW BETTING – You place a bet on a certain horse coming in third (known as show position). If your horse finishes first, second or third, your bet will pay off. Your winnings will be lesser than those in a win or place bet but again, your chances of placing a winning bet are significantly improved.
WIN PLACE BETTING – Win place betting consists of betting on a certain horse winning first or second place. If your horse is the first place winner, then you get the win and place payoffs. If the horse you have bet on comes in at place position, then you will win the place and show playoffs. Of course, you’ll want your horse to come in first, but you’ll win some money even if they finish second.
ACROSS THE BOARD BETTING – Betting on a horse across the board means your horse has to either come first, second or third. Should your horse come in first, you get all three payoffs – win, place, and show. Should it come in second, you may collect two payoffs – place and show. However, should your horse come in third, you would only be able to collect the show payoff. Here even if your horse doesn’t win, you have a chance of recouping some part of your initial bet.
There are two kinds of exotic bets. There are intra-race bets, where you place bets on more than one horse in a single race. There are also multi-race bets, where your wager is placed on horses in consecutive races which are on the same ticket.
Now that you have clear idea about straight bets, why not give them a shot. Although remember that horserace betting is a game of odds therefore only invest what you are willing to lose. But even though there are equal possibilities of winning and losing, luck and the right information might just be your ticket to infinite riches. So go ahead and head out to the racetrack and get in on all the action today!
