Horse races yield the quickest results among many other sports events. This is probably why many bettors are drawn to equestrian sports. You don’t have to follow games running for months just to know the results.
With horse betting, handicappers just have to know the statistics and records of their favorite horses and back them in the field. However, betting on horses can be more complicated than betting on human athletes.
Bettors get a hint of who to back in games partly based on the athlete’s display of confidence. While horses can exhibit spirit and vigor in the paddock, human athletes can express them more powerfully and transparently.
Though it’s complicated, there are tips on profitable horse betting. Follow the guide we have prepared for you.
Types of Bets
You can try two categories of bets in horse betting: standard and exotic. Let’s get to know their types and how each one works. Whether you’re checking out FanDuel Kentucky Derby picks or updates on your local horse racing event, you can expect to see these bets.
Also known as straight bets, these wagers are the most basic and popular types of bets that even novices can try without experience. The following are its types:
Win- You will need to pick a horse to win the race. You only get to cash out the ticket if the horse places first.
Place- You must pick a horse to place first or second in the final order of finish. If the one you pick finishes first or second, you win the bet.
Show- You must pick a horse to place first, second, or third. A podium finish means winning the bet.
The minimum number of horses you can bet on exotic wagers is two. This is typically more difficult to win than the standard bets above. However, exotic bets pay more than standard bets.
Exotic bets are divided into two categories: single-race exotics and multi-race exotics.
In this type of bet, you must wager on the horse’s final standing in a specific race. You can bet on as many positions as you want. Every extra position comes with another level of difficulty and hefty payouts.
You must identify the horses who will come first or second in the race’s outcome. Predictions must be in order.
Quinella isn’t available in many tracks. This works the same with exacta, where you must pick horses to place first and second, only that they can come in any order.
This type of bet requires bettors to pick three horses to finish first, second, and third in the race’s outcome, in exact order.
You must select four horses as the top four finishers in the race’s outcome. They should come in exact order.
This type of exotic bet requires bettors to pre-select winners of multiple races before the first race begins. Multi-race exotics keep wagerers interested in the series of races the entire day, making it hard for bettors to miss even one race.
You must pick the winners of a back-to-back race or two consecutive races. It’s also known as the “daily double.”
Bettors must pick three horses to win three consecutive races in a day.
As the name suggests, you must pick four horses to win four consecutive races. Pick 4 is the most popular multi-race exotics.
It works exactly the same with other multi-race exotics. In Pick 5, you will pick five horses to win five consecutive races.
The bet’s mechanics are the same, only that this time, you must pick six horses to win six consecutive races. The winning ticket comes with a jackpot bonus since this bet is the most challenging.
Quick Tips on Horse Betting
Now that you already know the most common types of bets in horse racing, let’s explore some of the most effective tips on wagering.
Do your homework
As a bettor, placing bets isn’t the only thing you have to do. You must study statistics and relevant records of the horses and the jockeys. Read and research before placing your bets. Your confidence in wagering will come from how well you know the thoroughbreds on the field. Here are the specific factors you have to consider:
Studying a horse’s pedigree means looking into the family history of a horse. Look into both the side of the sire and dam. Like humans, horses’ potential abilities may be genetic. By looking into a horse’s pedigree, you can get a hint of running style, stamina, and speed, among other abilities.
A horse’s running style determines whether it will perform well in a race. There are three most common running styles among thoroughbreds: frontrunners, stalkers, and closers. Frontrunners are horses who lead the way. They immediately speed up at the start of the race. They often perform well in the rest of the competition.
Stalkers are horses who prefer running behind the other horses. They just love to tail other runners. Lastly, the closers are horses who like running at the back of the pack. They are less competitive and likely to remain passive for the rest of the race.
Many often overlook this, but you must never miss the details on the horses’ last races. Most of the time, horses from a recent race are more vigorous and more eager to win.
Don’t settle with the favorites
Betting on the favorites may sound safe, but this could be risky without analysis. Avoid betting on favorites all the time. Horse racing is unpredictable, so heavy favorites will not always be victorious as you expect. Do your own research and bet based on the data you have analyzed.
Try different bets
There are many kinds of bets, as we have listed above. Vary your bets and use a combination of them. Explore different types of them and earn hefty payouts in return.
Bet what you can afford to lose
Betting is partly a game of luck. Bet what you can afford to lose. Avoid chasing your losses and limit a portion of your funds for this activity. This way, you will never end up broke after watching a race.
The outcome of any race could be unpredictable. Sometimes, those statistics would be irrelevant to winning your bet. However, doing your homework before an upcoming race is essential. It gives you confidence in wagering, making the activity real fun and exciting for you as a spectator and a bettor.