Sunday, 16 December 2018

Horse Racing: Understanding the Basics of Betting

Welcome to the world of horse racing, one of the prestigious and most popular sport for betting on! Horse racing attracts a huge amount of wagers, especially on major event races such as the Kentucky Derby and the 2019 Pegasus Cup wherein the vast majority of the audience have their money bet on and is at stake to their chosen racehorses. 

If not for the love of the sport, the betting would what most appeal to the fans out there of horse races, and it actually is what makes it alive. Betting on their chosen horses is what makes the races interesting for them since their experience wouldn’t be the same if they don’t have a horse to cheer on. 

So, if you have found the brand-new world of horse racing and has come to love it, here are the things that you need to understand first before going out and cheer for your horse in betting. 

Understanding the Sport

A global sport— that’s what horse racing is perceived as, making it especially popular in regions such as United States, United Kingdom, and Australia and other countries where racing takes place on a daily basis. 

What you should know firsthand about this sport is that the differences of it in various parts of the world. Thus, there might be some minor changes in rules and regulations depending on the country the horse racing is taking place. 

To further understand this sport, you should know that there are several different types of horse racing. Which are mainly named as the following: flat racing, jump racing, endurance riding, steeplechasing, quarter horse racing, and harness racing. These are just some of the examples of horse races which you need not learn in detail but needs to learn as much as possible for you to plan what and how to bet on. 


Knowing Horse Race Betting

It is very easy to get started with horse racing betting, but you still need to know that even though it is not especially complicated, you have to learn more about the complex aspects as you go along. 

Fixed Odds Betting 

This type of betting is the most popular way in horse racing betting. Fixed odds betting is where you place wagers with a bookmaker at specified odds. Now, if your wage wins then you get paid out at those odds. However, if your wage loses then the bookmaker keeps your stake money. 

Exchange Betting 

This type of betting is where your wagers strike with other individuals rather than with the bookmaker. In this form of betting, your strike wagers with other individuals rather than the bookmaker. This type of betting offers a few advantages over the other two options. 

Tote or Parimutuel Betting

Parimutuel betting is different from other types of betting since there no odds involved. The payouts are mostly based on how much was wagered on a race in totality and how many people have picked the winning horse. 


Top Tips for Beginners on Betting

If you have joined in the world of horse racing because of the sport itself, not caring about betting, then that’s great! You wouldn’t be so anxious as to how much money you have gained from the horse racing since you shouldn’t be expecting to make money out of horse racing as a beginner. 


Thus, here are the tips that have been provided to help you in approaching things the right way, avoiding unnecessary mistakes. 

Starting with Small Stakes 

Although it’s true that the higher the stakes the bigger is the amount of money given back to you if you won, as a beginner it wouldn’t be a wise choice. Thus, start at small stakes first and observe horse races and learn more so that eventually you’ll get comfortable in betting on horses with big stakes at hand. 

Don’t Bet on Every Race 

Betting on every race isn’t that wise too since that results in splurging a considerable amount of money for horse racing. Thus, avoid betting on every race so as to save money and not putting your efforts in vain. 

Avoid Parlays 

Parlay is a type of sports bet wherein you combine multiple individual bets which are typically 2-10 bets into one bet or “card”. This gives you worse odds to win yet you will be rewarded with a larger amount of money, because apparently, the larger the amount of wagers that are included in your parley, the larger is the payout you’ll receive. To briefly tell you, avoid parlays in betting since it’s not even in a 50-50 chance win. 

Takeaway

Horse racing was a luxurious entertainment century ago, but it has been a local entertainment and sport for quite some time now. Thus, getting yourself being indulged with horse racing isn’t a surprising thing to do, you only need to know and be educated so that you will know the ins and outs of horse racing.