Horse racing is a popular pastime among people from different parts of the world, interestingly, those who enjoy watching this sport also relish betting on it
The history of horse racing can be traced back to ancient Greek, Roman, and Byzantine, when four-hitch chariot and mounted races were extremely popular. Organized horse racing events were held in the Olympic Games of Ancient Greece.
In mythology, horse racing plays a key role in contests between different gods. Some experts believe that the first to domesticate these majestic animals were the nomadic tribesmen of Central Asia. Thousands of years later, horse racing remains an attractive betting market. A common belief is that the sport would not survive if wagering on it was not allowed. Currently, the sport generates billions of dollars for the economies of many countries.
Different Horse Racing Bets And Betting Explained
You do not need to have some special skills or knowledge to place a bet on a horse racing event. Nowadays, horse racing fans can choose from betting at an online sportsbook or on the spot. Both ways have their peculiarities, but the procedure of placing a bet on a horse racing event remains pretty much the same. You have to select a horse, decide how much money you would like to stake, and choose the type of bet you wish to make.
Before we continue, we would like to discuss the difference between fixed-odds and pari-mutuel odds betting. Fixed-odds betting means that you place your wager at fixed odds, while pari-mutuel odds betting means that the odds might change as you participate in a pool that includes all other punters who make the same bet as yours participate.
Now let us discuss the different types of horse racing bets. Straight bets are the most common and easy-to-grasp kinds of bets. If you place a straight bet, it means that you place a bet on a given horse to win or to be among the first three horses to cross the finish line.
Straight bets can be subdivided into win, place, and show bets. If you make a winning bet, you place a bet on a given horse to win. A place bet means you bet on a given horse to come in first or second place. A show bet allows you to bet on a given horse to finish first, second, or third.
Exotic bets are more interesting types of horse racing bets as these allow you to wager on more than one horse during a given race. Many experienced punters prefer placing exotic bets as these pay much more than straight bets as mentioned in superbettingsites.
The Exacta is the most popular exotic bet. If you place an Exacta bet, it means that you have to predict who will be the winner and who will be the runner-up. Trifectas, also known as “triple” or “big triple” bets, allow punters to select the horses that they think will finish first, second, and third in the official order in a given race. Other exotic bets include Superfectas, Daily Double, Pick 3, Pick 4, and Beyond.
In-play betting is another exciting betting option that allows punters to place bets while the event is taking place. Many bettors prefer to place live bets as they can make a more accurate prognosis given the current circumstances.
Horse Racing Betting Odds And Best Tips
It is not a secret that betting on horse races is not only a fun activity but also improves your budget significantly. If your betting career is in its infancy, you most likely heard on multiple occasions that you have to select the bookmaker that offers the best odds. But if the word “odds” does not ring any bells to you, you might be wondering why this is of such importance. Well, the odds help you to calculate how much your bet will give you if it wins.
When it comes to horse racing betting, there are three main types of odds format, and more precisely Decimal, Fractional, and Moneyline odds. In the lines below, we would like to provide our readers with a formula to calculate their potential profit depending on the odds format:
- Decimal odds: payout = (your wager) x (the odds)
- Fractional odds: payout = stake x (X/Y), where X is the first number in the fraction and Y is the second number
- Moneyline odds: Decimal = (Odds + 100) / 100 (to convert positive moneyline odds into decimal); Decimal = (Odds + 100) / Odds (to convert negative moneyline odds into decimal)
Online vs On-The-Spot Betting
Many punters prefer placing their bets online as it is more convenient. In addition, many reputable horse racing betting sites offer different odds formats. Punters can select the odds format they are most comfortable with. Furthermore, some online betting sites offer the so-called “best odds guaranteed” option. It allows punters to place a bet and get paid out according to the higher odds provided that the odds improve following the placement of the bet.
Horse betting sites are compatible with portable devices. This means that you can place a bet on your favorite horse even on the go. To attract new signees, most online sportsbooks offer attractive bonuses, which will boost your bankroll. If you prefer placing bets at an online sportsbook, do not forget to check its license, reputation, and the odds it offers.
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