How to Bet on Horse Racing: Basic, Types, Odds & FAQs
There aren’t many other sports that have the ability to capture the imagination of both experienced and inexperienced gamblers. However, horse racing is one of those. The biggest events throughout the year attract hundreds of millions of dollars worth of bets, with everyone looking to pinpoint the winner of the huge spectacles.
However, how can bettors safely wager money on Vig sports betting markets when it comes to horse racing, and what are the types of bets available when it comes to betting on the sport?
Why Bet On Horse Racing?
There are few sports that boast the longevity of horse racing across the globe, with the sector being worth a staggering $3.52 billion in the U.S. For many, horse racing betting is one of the famous pastimes that is passed through generations, with elderly relatives often taking younger members of their family under their wing when it comes to understanding what it takes to win money betting on the sport.
That can be seen in the past couple of years with a growing number of younger fans getting invested in the sport. Betting on horse racing is extremely popular around the globe. Its popularity continues to increase with every year and has been made more accessible than ever due to the growing significance of online sportsbooks.
Not only can it be one of the most potentially lucrative betting opportunities, but it can also be one of the most enjoyable. There isn’t a thrill that comes close to picking out a 10/1 shot that runs a stormer to win a huge race such as the Kentucky Derby.
Is Horse Racing Betting Legal?
Customers around the U.S are able to make wagers on the latest horse racing action. Vig sports betting on the sport is available in 39 of the 50 states in the country, and there have been significant laws passed to ensure its legality. Firstly, the Horse Racing Act of 1978 enabled tracks to broadcast their races around the country and accept bets.
That law was developed in 2000, which meant that bets could be placed via the internet or over the phone. However, the states that allow betting on the sport are determined by those that have agreed to allow interstate wagering.
Online Horse Racing Betting
The last decade has been an exciting one for bettors in the U.S. That has been echoed by the significant changes that have been made in online betting. Horse racing is one of the sports that has really benefited from the changes, as it has enabled players in the U.S. to have greater freedom with their selections. Not only has the growing number of sportsbooks available online meant that a staggering number of betting markets are available, but the features have improved too.
Nowadays, horse racing bettors in the U.S. can wager on the action from around the globe. That includes making wagers on the massive National Hunt meetings such as the Cheltenham Festival and the Grand National in the UK, as well as huge Group 1s from France, Australia, and the Middle East. Not only that, but the sportsbooks also allow the opportunity for customers to live stream action to their mobile devices, which keeps alive the excitement of betting on the sport.
Other features that have become hugely popular in the online sector include up-to-date racecards, which include the latest jockey, trainer, and form information. All of which is essential reading before making a wager on the Vig sports betting markets. Furthermore, like other sports, horse racing has also benefited from the opportunity to offer in-play markets.
How To Bet On Horse Racing
In truth, horse racing is one of the most straightforward sports available to bet on. However, some of the markets available may appear more confusing to newcomers to the sport, which means extra detail may be needed.
The win betting market is the most popular in the sport of horse racing. In order to get returns from this type of wager, then the horse selected must win the race. You will be paid out at the odds that you have wagered on, as well as getting the stake returned. For example, if you make a $10 wager on Epicenter at 9/1 to win the Kentucky Derby, you will receive $100 in returns.
Place and Show betting can also be extremely popular when making Vig sports betting selections. This is especially the case for races with big fields, such as the Kentucky Derby and Grand National. These bets cover more than just first place. A place wager will cover first and second, while show betting also covers third.
Some sportsbooks will not offer a show betting market, as extra positions will be incorporated into the place betting market. Returns are determined depending on the position that your horse finishes in the race. This is a more popular selection for those looking to make a wager on an outsider.
One of the most difficult types of wagers to land returns on is the Exacta and Trifecta markets. For the Exacta, the bettor must correctly predict the first two horses past the finishing line in the correct order. Meanwhile, the horse that finished third must also be included in the Trifecta wager.
Those looking to make wagers on this type of bet must look deeply into the way that the race may play out, and which horses have the strong traveling pace and finishing speed. Furthermore, conditions must also be examined to ensure whether track bias could play a part in the outcome.
Parlay betting is extremely popular when it comes to making wagers on sports such as basketball, soccer, and American Football. However, it could also be an extremely lucrative selection when wagering on horse racing.
This bet enables gamblers to add more than one selection to a bet slip from different races around the world. However, all selections must win in order to get paid out. The increased risk that comes with parlay betting ensures that payouts are much higher.
Understanding Horse Racing Betting Odds
The betting odds are potentially more important when betting on horse racing than any other sport. Odds regularly change throughout the day leading up to races, which means finding the right time to make a wager is integral when it comes to gaining returns. There are three types of odds that can be found online, and those are America, decimal, and fractional. The type of odds that you want to be displayed can be adjusted in the preferences section.
Odds work very straightforwardly. We will use the common odds in the U.S. as an example. If a horse is priced at -125, then it will mean that they are an odds-on chance. The best horse in the race will typically be this price and returns will be considerably less. Meanwhile, a horse priced up at +500 will see bettors get returns of $60 should they place a $10 wager. This is made up of $50 in returns from the odds wagered, as well as your $10 stake returned.
Different Types Of Horse Racing
The most common type of racing in the U.S. takes place on the dirt. All of the biggest races on the calendar take place on this surface, including all three Triple Crown races and the Breeders’ Cup Classic. Many consider dirt races to be more predictable than races taking place on the turf. Many races on this surface follow the same pattern, as they have a fast pace all the way around.
Turf racing is most common in the United Kingdom, Ireland, France, and Australia. Those countries’ biggest races on the calendar take place on the turf, including the Epsom Derby, Prix de l’Arc de Triomphe, and Melbourne Cup. Races on the turf can often be more difficult to predict, with weather conditions playing a greater role. However, for the most part, races on the turf will be slower over the opening distances before then speeding up for the finish.
Synthetic racing also takes place across the world, with a number of tracks opting for an all-weather surface to avoid canceled meetings. There are three types of surfaces when it comes to synthetic racing, and those are Polytrack, cushion, and tapeta. Examples of synthetic tracks in the U.S. can be found at Turfway Park and Gulfstream Park.
While flat racing is the most popular in the U.S., it jumps action in the United Kingdom and Ireland which has the biggest following. The biggest months in the National Hunt season come between October and April. In this type of racing, the horses will travel over longer distances and will need to cover obstacles. Younger horses start over hurdles before running over fences. The Cheltenham Festival is the biggest meet of the season, while the Grand National is the most famous steeplechase in the world. If you liked this Horse Racing guide, Follow us on Twitter.
Biggest Horse Racing Events
Unlike other sports, horse racing takes place throughout the year. That means there is never a shortage of big events on the calendar to look forward to. These events are typically the most popular when it comes to betting, as those that wouldn’t typically wager on the sport would do so. Some of the biggest global horse racing events can be found below.
|USA||UK & Ireland||France||Australia||Rest of World|
|G1 Kentucky Derby||Cheltenham Festival||G1 Prix de l’Arc de Triomphe||G1 The Everest||Dubai World Cup|
|G1 Preakness Stakes||Grand National||G1 Prix Vermeille||G1 The Golden Eagle||G1 Saudi Cup|
|G1 Belmont Stakes||G1 Epsom Derby||G1 Prix de l’Abbaye de Longchamp||G1 Melbourne Cup||G1 Sheema Classic|
|Breeders’ Cup||Royal Ascot||G1 Prix de l’Opera||G1 Queen Elizabeth Stakes||G1 Japan Cup|
|G1 Pegasus World Cup||G1 2,000 Guineas||G1 Criterium International||G1 Golden Slipper Stakes||G1 Tokyo Yushun|
Tips To Bet On Horse Racing
There is so much more to betting on horse racing than just picking out a horse with a name that stands out. For seasoned professionals when it comes to betting, there are numerous factors that must be considered before making a wager. Some of the important considerations that must be taken into account before making a bet include:
· Horse’s form
· Trainer/Jockey strike-rate
· Weather conditions
· Track bias
· Speed figures
· Horse’s past experience at distance/track
How to bet on Horse Racing FAQs
Bets can be made on horse racing in 39 of the 50 states. The leading sportsbooks will offer markets on all the important global races.
The most popular horse race in the U.S. for bettors is the Kentucky Derby. Meanwhile, the Breeders’ Cup, Belmont Stakes, and Preakness Stakes are also incredibly popular.
Before making a bet on a horse race, the bettor must examine a number of important factors. Among those include looking at the latest form of the horse, as well as considering the form of both the trainer and jockey.
Yes. Dirt racing is the most popular in the U.S., while turf racing is the most popular in Australia, France, and the UK. Meanwhile, jumps racing is the most popular type of racing in the UK.
There are a number of betting options available to horse racing bettors. The most popular is the win wager. Meanwhile, place, exacta, and trifecta markets can also be found at leading sites. Parlay bets can also be made on horse racing.