Gambling on Horse Racing

Although it seems pretty basic at first glance, there are a myriad of intricacies associated with gambling on horse races. Whether you're a beginner looking to bet on their first race or an expert thinking of testing new strategies, here's a look at everything you need to know about gambling on horse racing.

How it Works

While you might think it would be difficult to bet on a race, it's actually quite simple. The first thing you need to do is find a horse track and ascertain the dates in which races are supposed to take place. On that day, drive down to the race track and buy a racing program. These programs are useful as they display all of the relevant racing information.

Inside, you will find that there are a large number of monitors that will show you the latest betting odds and race numbers. Once you find the race you want to bet on, then comes the tricky part. You must pick the horses you are willing to risk your money on. You can choose whether you want to bet against the odds or pick the safer bet. The lower the odds, the safer the bet will be. Despite this, betting on a horse that not many have gambled on can gain you much higher winnings if you happen to get lucky. Once you've decided on your bets, present them to the cashier and return after the race to receive your winnings. Lastly, gambling on horse racing in America is largely legal, though is regulated by each state.

Different Types of Bets

There are 7 basic types of betting that you need to be familiar with. They are as follows: show, place, win, exacta, quinella, trifecta and superfecta. You make a Show bet if you think that the horse will finish in first, second or third. A Place bet signifies that you think the horse will finish in first or second. A Win bet means you think the horse will outright finish in first place. An Exacta bet is one that is placed on the 2 horses you believe will come in first and second. A Quinella bet is one placed on the horses you think will be first and second, though not in any order. A Trifecta bet is placed on the horses you believe will land in first, second and third, while a Superfecta bet is one placed on the horses you think will finish first, second third and fourth.

Gambling Strategies

There are a wide array of betting strategies that can aid in your favor when it comes to horse racing. If you're a beginner, it's easier to simply bet $2 the first few times. It can also be useful to bet on the "sure thing", as the favorite horse wins nearly 33% of the time, while the top 10 win 90% of the time. You should utilize the Daily Racing Form as well, which shows all of the past performances by the horses, something that could come in handy while you're placing your bets. It can also prove useful to look at the jockey's win percentage, as even if a horse seems like a good pick, the jockey's win percentage may be lower than you're comfortable with.