Horse racing is a sport that is loved by many all over the world. Learning how to bet on horses can be quite tricky, depending on the level of bet type you wish to place, and your knowledge base of the horse racing world too.
Time and time again, many newbies to the sport will introduce themselves to the sport too quickly, without understanding the basics that need to be learned.
So, that is what this article is here for today, for you to come to grasp the fundamentals in horse racing betting, as a beginner. Continue reading to find out more!
Types of Horse Racing Bets
There are many different types of horse race bets on the market today however, you can break them down via a series of beginner style bets, intermediate style bets, and difficult style bets.
There are two categories within horse race betting that you should look into- straight wagers and exotic bets. Straight wagers are seen as the more simpler series of betting, whereas the exotic type takes more experience to grasp and understand.
Most betting types are from straight wagers and can start from a minimum of just 50p. Of course, if you wish to put more on, you can do so, however that is the minimum for beginners regardless.
Exotic wagers are the type of bets that will allow you to make many bets on multiple horses, for just one bet. To make this type of bet successful, you will need to make sure that every degree and outcome is considered. Meaning, it has to be right.
If you get one variable wrong, then you do not win anything at all. For that reason, this wager is seen as something that requires great knowledge and experience within the field of horse racing.
However, one thing worth mentioning is that the payoffs of exotic wagers are much greater than straight wagers, and this is why many bettors go straight for these as it can be hugely profitable and exciting!
Perhaps after reading this you can become confident and go straight into betting on huge races like Royal Ascot or the Breeders’ Cup!
As mentioned above, straight wagers are the easier bets that can be played to get your confidence in horse race betting. There are five of them in total, with one being perhaps more intermediate than the other two.
The Win bet is as simple as it sounds. You place a bet on this and you need the horse you selected to come out in first place.
Should your horse manage to finish in the position you predicted, you can go and collect your much-deserved winnings!
A Place bet is what is placed on a horse that you believe will finish in the ‘places’ – usually the top three or four.
If your horse finishes anywhere in the places, that is classified as a win and you can go and collect your winnings.
There is greater security with this type of bet, as it gives you leeway on the result, which means greater security overall.
A show bet involves greater leeway, as you are betting the final result of the race to be either from position of first to third, meaning again there is greater security than even the Place bet.
Across the Board Bet
Next, we have the bet that will have you betting on your horse to win, place and to show. So, remember the principles stated on the previous betting types, and build up on that foundation.
This will have you placing three bets in one, making it the most intermediate type of bet out of them all. Additionally, it is more expensive than any of the other simpler bet types.
Win/Place or Place/Show Bet
This bet will have you again making multiple bets across, for just one bet in total. You will either complete the scenario of a Win/Place bet, or a Place/Show bet combined.
For example, on a Win/Place bet, you will be betting that your horse wins and places. If he finishes second, you just get a fraction of the money, if he wins you get both. The same principle applies for the bet in Place/Show.
Last but not least, we have the most difficult of all betting types in horse racing. There are four types within this branch of betting: Exacta, Quinella, Trifecta and Superfecta.
An Exacta bet entails you betting on two horses that will come in first place and second place. The order must be exactly correct, or you do not receive a payout at all.
On the other hand, A Quinella bet will require you to bet on two horses that come in first and second-but it can be in any order, not necessarily specific. Also called a reverse forecast bet.
A Trifecta will require you to bet on three horses that finish first, second and third, but this must be in the exact order and cannot have any leeway with the places markings.
Finally, a Superfecta will require you to bet on four horses, which is the most difficult of all bets in horse racing. Why? Because you will need to make sure the horses that you select, finish in the consecutive places and order that you bet with e.g. places first to fourth.