For horse racing specifically, we need to clear up a few basic concepts.
Sports betting is pretty straightforward. But when it comes to horse racing, it’s kind of its own thing, and when looking at it as a newbie, it can be very confusing. There are some things every betting enthusiast should do regardless of the sport – like choosing from the best online bookies to place their bets. But for horse racing specifically, we need to clear up a few basic concepts.
Rules of horse racing
As with any sport, you need to learn the rules of the sport before betting on it. It’s one of the oldest sports, and one of the oldest sports that accepted bets, and things haven’t changed all that much.
There are two types of horse racing: flat racing and jump racing, with the former being on flat ground and the latter being a track where the horse must jump over hurdles, like the National Hunt. The object is to be the fastest, and therefore come first, but the strategy of the jockey may differ for different types of races. Long races, for example, are a lot different to shorter sprints. Fortunately, there is no scoring, it’s simply an out-and-out race.
How to place a bet on a horse race
Placing a bet on a horse is relatively simple. When physically at the horse racing event, you simply state the name of the racetrack and then the number of the race you’re betting on. Then, you say how much you’re betting and what type of bet it is, followed by the number horse you’re betting on. That process is pretty much the same when betting online, too, if not even easier.
Types of bets for horse racing
The confusion around betting on horses often comes from the type of bets you can place, but it’s not all that difficult.
A single is simply a single bet on a single horse to win a given race/event. A double on the other hand, is a bet on two different outcomes in different events. The odds are multiplied together, but both selections must win. A treble and accumulator continue this logic, but include more outcomes.
Each way is a common bet for horse racing that football and baseball fans may not be so familiar with. This is two bets but the second bet is often just a way to win your money back if the first doesn’t come in. For example, betting on a horse to with the Grand National, but betting on it each way may mean you win a smaller amount if the horse comes 2nd or 3rd. It costs double for an each-way bet.
Then, there are many other betting types like a trixie, where your three-outcome bet has four bets within it. So, three doubles and one treble. Then, a patent, yankee, and lucky 15 are variations of this logic but with more outcomes and more bets. So, a lucky 31 is a five-outcome bet that has 31 bets within it: five singles, ten doubles, ten trebles, five fourfolds, and one fivefold.
Useful tools for horse race betting
There are some tools to help with horse racing bets. For example, picking up a racetrck program at the beginning of the event can have some useful information to inform your bets, and so does the Daily Racing Form. online forums and Facebook groups can also be useful places to find tipsters that offer tips and more detailed knowledge on the horses and jockeys. If you’re looking to get into the horse racing business, consider checking out race horses for sale to start building your stable and participating in races.