Types of racing betting:
There are many different ways to bet on a horse race, and the following is a complete guide to help you make the best decisions possible.
To begin with, there are three main types of bets: win, place, and show. In a winning bet, you wager on your horse to win the race; in a place bet, you wager on your horse to finish either first or second; and in a show bet, you wager on your horse to finish first, second, or third.
Exotic racing betting:
There are also several different types of exotic bets available, including head-to-head bets, trifectas, superfectas, and more. And finally, there are also betting methods known as “against the spread” or “ATS,” in which you can wager on the favorite to win, but you will be paid at more than even money.
Once you’ve picked your horse and determined how much to bet, it’s time to place your bets. If you’re placing all of them with one bookmaker, then just call that bookmaker and tell him or her what you want to do, but chances are good that the oddsmaker doesn’t stay on the phone with bettors for long periods of time.
The best way to parlay your bets is through betting exchanges such as Betfair. This allows you to easily place any type of bet at a fair price.
If you’re serious about horse racing betting, then get a subscription from the Daily Racing Form. This is the leading resource for thoroughbred racing news and statistics, and it’s also available online.
In addition to being a great resource for handicapping races, it has all of the latest odds so that you can place your bets easily. However, you can also visit a racebook in any major city and get the same information from their specialists.
Finally, if you’re going to bet on races at all, then you should probably buy a copy of Odds On: Thoroughbred Horse Racing by Larry Jaffe. This is considered by many to be the bible of horse racing betting, and it covers everything from A to Z. If you plan on making more than just one or two bets, then this is a must-have.
It’s also important to know the difference between “odds” and “payoffs.” When you place a $100 win bet on your horse, you’re betting that he will win the race. If he does, then you get paid $100.
If you placed the same bet at odds of 8 to 5, then your payoff would be $120 if he won. If you place a “flat bet” of $200 on the horse at 7 to 1, your payoff is $700.
Finally, some tracks offer daily doubles bets, pick 3s, and other types of wagers which can be fun and profitable. There are also trifecta bets, in which you must pick the 1st, 2nd, and 3rd place finishers in order.