For the uninitiated, horse race betting can seem like an entirely different world. You have all these strange figures, stats, races, and competitors – it is understandably overwhelming. But it doesn’t have to be like that!
If you have an interest in horse racing and want to place a few bets for fun, we have compiled a simple guide below that introduces you to basic concepts like odds and bet types. You can also read this PA horse race betting guide for more in-depth information too after this.
Odds Indicate a Horse’s Likelihood of Winning
One of the most important factors involved in horse race betting is the odds. Odds show the chance has that a horse will win the race. They are usually shown in fractions such as 5/1. Typically, the smaller the first number, the better chance the horse have of winning the race.
For example, a horse with odds of 4/1 is supposed to have a better chance of winning than a horse with 11/1 odds. Please bear in mind that these are odds and never guaranteed to be accurate! Odds are developed using things like statistics, the riders, and recent form but they are not infallible.
Make Sure to Check the Age, Weight, and Form
There are other factors aside from the odds that you should look for when placing horse racing bets. Three important stats are age, weight, and form. The age and weight give you an approximate idea of the current health and physicality of the horse which could be a contributor to its performance.
More importantly though, horse race betting sites on Google Chrome and other browsers will state the recent form of the horse. This means it’s previous racing results. This is usually shown as a string of numbers with letters and hyphens possibly thrown in too such as 1211-3U.
In this example, the horse finished first, second, first, first, didn’t race, third, and didn’t finish In its last seven races. You can look at this to get a great indicator of the horse and jockey’s form and if they are over or underperforming.
Odds Can Change as a Race Unfolds
It’s important to know that the odds can fluctuate as the races play out. For example, at horse might start at 5/1 favorite, but as the race starts, if it soon becomes clear that it’s not going to win, the odds may improve.
If you place a bet before the race starts at a set odds then you will get that outcome if the horse wins regardless of how the odds fluctuate during the race. However, it can be beneficial to place live horse race bets and watch the races to give you a better chance of winning.
Choosing a Suitable Sportsbook is Important
To facilitate your online horse race betting you need a suitable platform. There are hundreds to choose from and there are some key factors to look for. These include accepted payment methods, welcome offers, the number of races covered, and the type of available bets.
Make sure that you can comfortably deposit money at the online sportsbook using a common payment method like Visa. Next, check out their welcome offers. Usually, sportsbooks have promotions for new customers such as a deposit match or free bets. Lastly, look at the actual variety of horse racing they cover. Do they show all the important and popular races? Can you place bets easily? Do they have fair odds compared to other sites?
There are Different Types of bets
Lastly, it’s vital that you understand the different types of horse race bets available. There is an in-depth explanation in this article. However, the two main bets to first consider are win or each way.
The simplest bet is a “to win” bet. This is also the most common and all horse race betting sites have this available. Here, you are just betting that a particular horse is going to win the race. These bets payout based on the odds if the horse finishes first. For example, you a place a $10 to win bet on a horse with a 5/1 odds. The horse does win – excellent! That means your payout would be $60 ($5 for every $1 bet plus your original stake back).
Horse race betting can be incredibly fun and there is an entire world that you can involve yourself in. By using online sportsbooks, you can easily place wagers on your favorite horse, or those who have been tipped to win.
This is incredibly convenient and something you can do from anywhere using your smartphone. We hope you have found this guide useful, and you should now have a clearer idea of the basics of horse racing betting and how to get started!