|Tuesday 21st January 2020|
How To Bet On Horses For Beginners
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Let’s say you’ve been gambling for a few years. There’s a level of proficiency you have with sports betting and casino games. There’s another option that most beginners don’t immediately jump to, and that’s betting on horses. Betting on the ponies has been around since anyone can remember. It was a primary betting angle that never really lost its touch as a big money maker. But betting on the horses can be a bit intimidating for the green beginner. That’s okay, it’s normal to be a bit nervous about this new endeavor.
Here’s a quick guide to give you, the beginner, all the knowledge necessary to confidently place your bets on the races.
The first concept to understand is a thing called “pari-mutuel wagering”. This is a form of betting that is specifically designed for horse races. It’s also where the American idiom “the winning ticket” comes from. In this style, all the money gets placed into a pool. The house—or the track, takes a bit of commission off of the top, and the rest of the money gets used for payouts across all bets. This is meant for the big stadiums and the wild stands. But it has also been adapted for online betting as well. One of the most successful gambling outlets hl8, has been in the business of horse betting for years now. They have a similar system of pari-mutuel wagering, only it’s translated into the digital platforms.
The most common bets are The Win, The Place, and The Show. In a “win” bet, you’re putting money on who gets 1st place. A “place” bet means you’re betting on one of your picks to get first or second. A “show” means your horse pick gets in the top 3. Of course, the “win” bet has the greatest odds. It’s the most rare and riskiest of the best. Naturally, there is a much larger payout. These bets serve as the simple bets played out on the track, known for their ease and their straightforward nature. Of course, the amount of money you get is dependent on the odds.
The odds in a pari-mutuel wagering system can fluctuate all the way up to the point that betting stops. And the odds are determined by who more and more people are betting on. If a large percentage of the betting pool bets on a certain horse to win, your payout on that horse decreases. Conversely, the payout for betting on other, less popular horses, becomes potentially greater. This is the primary system of calculating odds in horse racing.
There’s a tradition in horse betting that revolves around increments of $2. Even if you're betting online or in a different currency, more likely than not, you’re going to encounter $2 as the minimum amount you can bet. So when the results come in, they project the name of the horse and numbers under your “win, show, place.” The number under each option means you get paid that much for every two dollars you placed. So if it says “Win 10” that means you get $10 for every $2 you put in—or any other currency you may be using.
These are the basics of betting on horses. Hopefully with this knowledge, you’ll find yourself on the lucky end of fun. Be sure to study the horses. Really get a feel for what rumors are going around. Like any sport, the talk often determines who bets on what. So keep your ear to the ground, don’t let your nerves get to you, and bet smart.