With betting online made more accessible, many bettors are embracing the change and are betting from the comfort of their own homes. It has made betting much more manageable and accessible to many audiences. One of the oldest sports to bet on is horse racing. It first started in the U.K. in the early 1600s, and since then, many people have become interested in the sport.
Moreover, it’s a straightforward sport to gamble in. That’s why a lot of people are swayed to participate. If you’re one of them wondering how you should start preparing to bet, you can continue reading this article.
Understanding Odds
When starting with horse race betting, you should know that the odds presented by your sportsbook can put you at an advantage. First, you can use odds to determine the total amount you can payout if you win.
If you look at sports odds, you’ll notice a negative or positive sign before some numbers. The positive sign indicates the underdog, and the negative sign refers to the favorite team.
The number after the negative sign refers to the total amount you will need to bet to win $100. On the other hand, the positive sign indicates the amount you can win if you bet $100. So, a favorite odds with -200 means you’ll need $200 to win a $100. While +200 on an underdog bet means you will need to wager $100 to win $200.
Horse Race Common Terms
Learning the common terms used for horse racing is essential. Learning the betting terms will allow you to process and understand the information about the event that can help you in placing your bets. Here are a few words you’ll likely hear in a race.
- Boxed-In: This refers to a horse surrounded by other horses without clear passage for the horse to get through.
- Distanced: This refers to a horse that finished behind the winner.
- Exotic Bets: This refers to multiple bet combinations.
- Fresh: This refers to the horse that took a rest for a considerable time.
- Maiden: This refers to a horse that didn’t win any races yet.
- Neck: This unit of measure is used to measure two horses during a race.
- Stretch: This refers to the final straight portion of the race track.
Bet Types
Here are the most common bets you can consider betting on.
- Win: This bet requires the bettor to wager on a horse to finish first.
- Place: This bet requires the bettor to wager on a horse to finish first or second.
- Show: This bet requires the bettor to wager on a horse to finish, second, or third.
- Across the Board: Type of bet where you place stakes for a single horse to win, place, and show. If they finish first, you can payout for your win, place, and show stakes. But if they finish second, you can receive your wins for your place and show stakes. However, you can only pay your show stakes if they finish third.
- Exacta: This requires the bettor to place stakes on two horses to finish first and second in the correct order in a single race.
- Trifecta: This requires the bettor to place stakes on two horses to finish first, second, and third in the correct order in a single race.
- Superfecta: This requires the bettor to place stakes on two horses to finish first, second, third, and fourth in the correct order in a single race.
Online Betting Site
Sportsbooks are responsible for accepting bets from people. They are also the ones that pay out the winners of every race. You must first find a sportsbook when preparing to cast your horse racing bets.
Due to online betting’s unwavering popularity, many sportsbooks have opened online. Thus, you must be careful with who to trust. Ensure that they are regulated within the law of your state and that they are operating with a license so you won’t get scammed of your winnings.
Bankroll
After getting to know the betting types, you can head on and load your bankroll. Bankroll is the budget you have set for your stakes. Preparing your bankroll is vital because it will help you figure out how much money you can readily lose in betting. Since you can never tell when your next win is, you must always be prepared to lose your capital money.
Proper bankroll management can lead to a more profitable and long-term betting experience. You can continue placing wagers without worrying about how it might affect your financial situation. You should not skip preparing for your bankroll as you prepare for horse race betting.
Final Thoughts
You should already have ideas on how to continue preparing for your bets. Since there are many races for horses to run every year, you have a lot of chances to win. So preparing this early until your next races can put you at an advantage. Consider the things listed above and have fun betting!
