Horse Racing Betting is growing fast and has attracted racing lovers and those who just want to make quick money. It should be remembered that before the introduction of casinos and lottery, Horse racing was the only form of gambling that was legal in many countries. Today, placing your bet on horse racing has become a must do thing for everybody including people who do not have a passion for sports.

To be able to bet on racing, it is necessary that you learn some basics. It will help you take advantage of what happens on the racetracks and make money fast. For starters, before you plunge yourself into horse betting, it is critical that you visit a racetrack first. If you come from a family that has participated or followed a sport, it could be a big plus since you may be aware of some terms you are likely to encounter in your horse betting endeavours.

Notice that horse betting will not just ensure that you make money but will keep you entertained and help you gain some experience in the game. This is quite different from what you will get when you spend your good time in dark and smoky casinos.  So it does not matter whether you win or lose money in racing bets, it will guarantee you a great time on the track as well.  Also, most tracks do not charge money for allowing you onto a race track and that the minimum bet per horse is as low as $2. You will also be allowed to bring along your drinks and foods. It means that if you choose to take your family to the race track, you will save more money compared to families that choose to go out and watch football or basketball.

Spending most of your free time watching animals perform what they are capable of doing will certainly bring you more joy and improve your lifestyle. So what are the types of Horse Racing bets available for you?

Types of Racing Bets

Racing bets are categorized into two: Exotic wagers and straight wagers. If you are a beginner, stick to the straight wagers. This type of betting is not just simple but is cheap for bettors with a constrained budget. All you need to do is to pick on a horse that you think will come first, second or third. Most tracks will allow you to place a bet at just $2 and wait for your win.

On the other hand, exotic wagers give you a chance to make multiple bets in a single wager on multiple horses. They are difficult to win especially for the novices but can be a good source of income to the skilled and knowledgeable persons. Exotic wagers are more expensive, but they are greater than the straight wagers.

How to bet on a straight wagers

As mentioned, straight wagers allow you to place your bet on a single horse.

WIN- Ideally, you will be betting that your horse wins. If it finishes in the first place, you win the bet.

Place- In some cases, you may choose to bet your horse in place. In this case, you will be betting that your horse will finish in the third, second or first position. For instance, if you bet that your horse will be second, and indeed it finishes in the second position, you will collect your win on place bet. Normally, the playout in this wager is less than what you get in a win wager

Show- In this type of betting, you will be betting that the horse of your choice will come third, second or first. As you can see, you will be hedging your bets, and you stand a high chance of winning. Unfortunately, the payout for this type of betting is always low compared to place or win wager.

Betting across the board- in this betting, you will be placing three different types of bets: a place, win and show in a single bet. As you can see, it is three bets in one, and so we expect the bet to be more expensive compared to a single place /show/win wager. In fact, it is three bets placed in one. For instance, if you chose a $2 bet across the board wager, it will cost you about $6 because each bet will cost you $2. So if the horse of your choice comes first, you win on three occasions; show, place, and win. However, if your horse finishes second, you will only receive money for place and show. Whereas, if your horse comes third, you will only receive the money for the show. As we can see, if you decide to engage in Bet on horse racing online, across- the board bets may not be the best one for you because they are expensive and are less profitable.

Place /Show, Win/Place, – it is similar to the across-the-board bet because you will use a single bet to make multiple straight wagers. You will be betting that your horse will win and place. If indeed it wins, you will be eligible to collect both the place and win money. On the other hand, if your horse finishes second you will only be able to collect the money for a place.  On the other hand, the Place /show horse racing bets imply that your horse will show and place.  If the horse finishes second, you will be eligible to collect the money for both the show and place. However, if he finishes in the third sport, you will only receive the show money.  Now since you will be placing multiple wagers on the horse, in a bet either place/show or a win/place, you will realize that it will be expensive.  Therefore, a $2 place /show will cost about $4 because you will be having two bets: $2 that the horse places and $2 the horse wins.

In our next post, we shall focus more on exotic wagers which allows you to make multiple bets on horses in a bet. This is important for those of you who want to increase the potential for creating profits.