There is a whole science behind the betting on horse racing, like it’s usually the case with popular sporting events. However, horse racing is more than just an action-packed event, it is an unforgettable experience that you will want to savor. So, before you head for the racetracks, be sure to learn the basic of horse racing betting, so you can enjoy the atmosphere and understand everything that is going on. Additionally, the adrenaline from the betting stacks up nicely with the excitement of the races, so you will be in for an interesting ride!
Before you start betting, you must choose which type of horse races you are going to bet on: flat racing, jump racing, steeple chasing or harness racing. Once you pick your category, you can proceed!
The next thing to understand are different ways to bet – yes, there are at least three basic ways you can bet. You can indulge in fixed odds betting, pari-mutuel and exchange betting. Fixed odds represent the most popular and by far the most numerous type of betting odds – the odds are already given by the bookmaker, you pick the ones that you like and bet your money on it. If you win, you get the money, if not, you lose it. Simple, right? On the other hand, pari-mutuel has no odds – the winnings are determined by two factors. Firstly, all people pool their money together – that is the winning pot. Secondly, the winning pot is divided among all the winners – which means the more people bet and the less people win, the bigger your winning will be! Lastly, we have exchange betting. This is a rather novel way of betting, where you strike a deal and bet with another bettor, not with a bookmaker. It takes some getting used to, but it is very interesting.
So now you know different ways, it is time to place a bet. There are several aspects as to how much money you will invest. First, you have to make a smart selection of races and horses you want to bet on. To do this, you must read up on the odds, follow the races in which they have participated so far and try to find out as much as possible about the horse’s stamina, form and health. Once you have gathered enough info, you can make an informed decision. Next, you want to see how much money you want to bet. If you are fairly sure you will win, you can even bet larger sums, but it is best if you start with small to midsize bets in the beginning. Once you see how the system works, you will be able to make more accurate bets. Keep in mind that the favorites are favorites for a reason, and they will not lose that easily. And always manage your money wisely – if you are on a losing streak, do not go for all-or-nothing bets! More likely than not, you will end up with having nothing.
Of course, if you just want to watch the exciting races and enjoy at the racetracks, you can go in blind and throw in a few bets for fun, but there is no way to guarantee or even predict what your bets are going to turn out like! But if you follow some of the basic advice given above, you will surely do much better!