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A Quick Guide to Betting on Horse Racing

Written by:
Payton
Published on:
Oct/05/2021

If you are new to betting on horse racing, you need to know the basics before you start wagering. So, stop horsing around and check out the following quick guide. By learning about different bet types and developing strategies, you can begin winning on horse racing sooner.

 

How to Place Wagers

 

Whether you are placing a bet at a racetrack or with an online or offline bookmaker, the process remains straightforward. You need to inform the bookmaker of the name of the racetrack, the number of the race, the type of wager you are placing, the amount you are betting, and the number of the horse on which you are placing your bet. If your horse wins in the way you said it would, you collect your winnings. The basics really are that simple.

Professional Tips, Strategies, and Systems Can Help You to Achieve Success

 

As you become more familiar with horse race betting, you can use tactics to help you win. Your first step should be to understand the different types of bets available, which we will look at in more detail in a moment. You can also find tips, strategies, and betting systems to help you increase your chances of beating the bookmakers and winning. Check out the excellent platform Honest Betting Reviews, which looks at different systems, tipsters, and trading strategies to give you a better chance of turning a profit.

Different Types of Bets

 

There are several types of bets available, which is where you can hone your strategy skills. To be a successful bettor, you not only need to pick the right horse. You also need to select the best type of wager to place for a specific race. Basic wagers, also known as straight wagers, are the most common bet types. They consist of win, place, and show bets.

A Win Bet

 

A win bet is simple. You choose which horse you think will win the race. The odds for a win bet are determined by the level of play each horse receives. If you keep betting on the favorite to win each time, on average, you should cash out on one of every three races. The higher-priced the horse you select to win, the more money you can win. But at the same time, the average mentioned above goes down when you pick a higher-priced horse.

A Place Bet

 

With a place bet, you choose whether a horse finishes in first or second place. While it is easier to cash than a win wager, the payoffs of place bets are usually smaller because the pool is divided two ways instead of one.

A Show Bet

 

A show bet allows you to choose whether your horse will finish in first, second, or third place. It is the easiest bet to win, but because of that, the payouts can be very low. And if you bet on a favorite horse, the payouts can actually be less than $1 for each $2 you wager. If you are a complete newcomer to horse race betting, a show bet is a good wager type to begin with because the threshold is low-risk. But due to the low payouts, as you become more familiar with horse race betting strategies, it makes sense to move on to other types of wagers if you want to win more than pocket change.

Exotic Bets

 

In addition to the basic bet types listed above, you have the option to place wagers via exotic bets. They are more difficult for newcomers to win, so it is a good idea to spend time familiarizing yourself with horse race betting, understanding strategies, and placing basic bets before you move on to exotic bets. The easiest exotic bet to win is known as exacta, which involves selecting the first two finishers in order in one race. Another option is the quinella bet. That involves selecting the two horses to finish first in one race, but the horses could come in either order. The third exotic bet is known as the double. That involves selecting the winning horse of two consecutive races.

 

 

 

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