Horse racing is a centuries-old pastime. Historically, the sport was used to test breeding and speed, but now it has evolved into a billion-dollar industry. Horse racing still tests breeding and speed, but the stakes are much higher. With so many people betting on horse races, it’s no wonder that gambling has become a key component of the industry. From online betting to in-person wagers, there are many ways to gamble on horse races. Curious about how horse racing and gambling work? Keep reading to learn more!
What are the odds?
When it comes to gambling, the odds are everything. The odds of your bet winning are printed right on the tickets, so you can easily tell if the game is worth your time and money. The odds vary depending on what type of race you’re betting on, whether or not there were any scratches, and other factors.
When it comes to horse racing and gambling, there are many different types of bets that you can make:
-Win: You guessed right! Your horse finishes first
-Place: Your horse finishes first, second, third and forth depending on the amount of starting runners
-Show: Your horse finishes first, second, or third
-Quinella: You guessed right for both the first and second place winners
-Exacta: You guessed right for both the first and second place winners in a specific order
-Trifecta: You guessed right for both the first three places in a specific order
Gambling on Horse Races
Gambling on horse races is one of the more popular forms of gambling. People bet on horses in hopes of winning money. One way people can gamble on horse races is by betting online, this includes both sportsbooks and online casinos. The other popular way to gamble on horse races is in person at a sporting event or a casino. This method has become less common due to the convenience of gambling online. Regardless of the method, betting on horse races is an exciting form of gambling that can be very profitable if done correctly! With so many people betting on horse racing every year, it’s no wonder that gambling has become such a large part of the industry.
One of the most popular ways to gamble on horse races is tote betting. At a tote, you can place bets on horse races by using tokens, which are like playing cards. You have a ticket with your bets as well as a card that corresponds with the horse you're betting on. The card has symbols for the types of bets you're making: win, place, show, and any other special features that may apply to that particular race.
For example, if you wanted to make a $2 bet on "Betty Blue" to win at the 5th race at Aqueduct in New York City, then your card would be marked $2 W Betty Blue. The numbers correspond with the odds of winning and how much money you'll win if your horse wins. If Betty Blue wins at Aqueduct in New York City then you'll get back $8 (your original bet) plus another $2 (winnings).
Betting at the Racetrack
If you want to wager on horse racing, you won’t need to go far. Sportsbooks are prevalent at racetracks and casinos around the country. These betting venues typically take a commission of 11-14 percent from each winning bet.
The process is simple: find an open betting table, place your bet in front of the teller, and collect your winnings at the end of the race. The size of your bet is determined by how much you want to risk versus what it will cost you to make a bet if you win. For instance, if you’re betting $1 on a horse race with odds of 3-1, then for every $1 that you risk, you will make $3 if its a winning selection, also you will have your original bet amount returned.
Betting Horses Online
There are many ways to gamble on horse races, but one of the most common methods is betting online. If you want to bet on horses, you can place your bets at any major sportsbook site, like Bovada. These sites are secure and legitimate and accept a wide range of payments. The only downside to betting online is that there may be a delay in getting your winnings if a horse loses (though you will still get paid).
If you’re not sure how betting works, don’t worry! Its easy!:
- First, decide which horse or horses you want to bet on by placing your wager at the sportsbook of your choice.
- Next, watch the race and hope for victory!
- Finally, collect your winnings if your horse wins!
With todays technology its very convenient to bet using application on your smart phone or computer, there are so many platforms and most are very easy to use, in addition many companies offer singing up bonuses in the for of free bets which are very useful to get started.