Horse racing bets is one of the most beloved forms of sports betting. While it requires patience and time investment, its rewards can be truly satisfying. Before beginning betting on horse racing bets it’s essential that you learn basic wagering techniques first.

Exacta bets offer you a higher return than regular wing beats, while box bets allow you to win regardless of which order the horses finish in.

 

Pari-mutuel betting

Pari-mutuel betting, commonly employed during horse races and other ranked events, involves bettors betting against one another rather than against the house; payouts are calculated by sharing out the pool of bets among all winners; this form of gambling can also be seen at jai alai contests and sports such as football where fixed odds betting has become popular.

Pari-mutuel betting provides a fairer payout on each bet than previous systems due to being calculated based on how much has been bet on each possible outcome, rather than total wagers made across all possible outcomes. It is therefore much preferable over race tracks taking a percentage of wagers as with Vigorish-based systems which take a percentage. In addition, pari-mutuel allows the creation of “minus pools”, often used to offset losses.

At pari-mutuel betting, unlike fixed odds betting, odds for each horse do not set until an event begins. Wagers are collected into a pool before any deductions for track expenses and taxes have been deducted; after which winners receive their share. This gives bettors an opportunity to find value – when probability of success outweighs odds suggested by track oddsmakers.

Pari-mutuel races offer various bet types, such as win, place and show. Win bets involve selecting the winner; place bets are for second place finishers while show bets include horses that finish third or higher in their race. All three bet types can also be combined into an “across the board bet.”

Dependent upon the number of horses in a race, different odds will be offered for every possible outcome. Favored horses typically have lower odds while longshots have greater ones. This makes it easier for bettors to make money off their bets by selecting an advantageous horse and betting on it.

Odds

Horse races are often described as the “most exciting two minutes in sports.” Not because horses race around tracks; rather, this excitement lies in winning some cash! No other sport offers such an opportunity! Whether betting at home or at the track, understanding odds will increase your winning chances and increase the likelihood of victory!

Betting on horse races puts odds front-and-center, as their significance can never be overstated. Betting odds fluctuate as bets come in due to horse racing being done through a pari-mutuel system whereby money placed on each horse determines its odds; unlike in traditional forms of gambling such as betting where bookmakers set them.

Morning lines are released by track oddsmakers as an estimate of where each horse may finish in a race. While these projections have an indirect effect on your payouts, as the odds depend on how much money has been bet on each horse; when more is bet on one horse than expected, its odds will drop while this same phenomenon applies for less popular horses that receive bets as more is wagered on them versus less popular ones.

Odds will then be updated throughout the day as more money is bet on various horses, before post time when final odds will be set. Bets on wins, places, and shows are divided up into separate pools and each horse may have an impactful pool it falls under; these will then affect its final odds.

To win a win bet, simply choose the horse that finishes first in its respective race. Betting on this outcome will yield full odds payout, while place bets offer smaller percentage returns depending on race type. For maximum returns and increased chances of a payout try placing an each-way bet instead.

Trifecta betting requires selecting the top three horses in any given race – making this more complex bet more risky but potentially offering bigger returns than any other bet available in horse racing. Raw data used for handicapping horses can be found online at sites like Daily Racing Form, Equibase and Brisnet; some elements (entries with morning line odds), scratches and changes, results charts as well as clocker reports may be provided free while clocker reports and pedigree information may require fees to access.

Longshots

Longshot horses in horse races have odds that put them behind the leaders, so betting on them offers less payoff than win bets but is still an effective way to make money off horse races. When betting longshots it is important to remember their higher risk as this type of wager may end in failure and it should be planned for accordingly.

Straight bets involve placing money on one horse to win first place, with this bet being one of the more challenging yet potentially lucrative wagers available. Should this horse triumph, all winnings would accrue; should it place second or third, only half would accrue. A safer approach is an across the board (win/place/show) bet which pays out only when either win/placed occurs in its race.

Exotic single-race bets require you to correctly predict the order of horses in a race, such as exacta, trifecta, superfecta and hi-5 bets. One way of increasing the chances of winning these exotic single-race bets is called “boxing,” which involves selecting all possible combinations that could exist on each leg of your bet and multiplying your unit stake accordingly.

One tool handicappers may find useful is a program that evaluates horses’ past performances on different surface types, from dirt tracks to all-weather surfaces. Knowing what surface a particular horse prefers will help you decide its placement within races.

Daily Double, Pick 3/Pick 4/Pick 6/Pick All bets require selecting winners of consecutive races in an exotic bet, including more than one horse per leg. As these bets quickly add up in cost, using keying can increase your odds significantly of victory; simply selecting one horse with which you have an extreme preference and “boxing out” all other possibilities can multiply winning bets multiple times over.

Exotic wagers

Exotic wagers involve placing multiple bets and provide larger returns than standard Win, Place and Show wagers. While exotics require greater skill and attention to make successful bets, their potential returns can be hugely rewarding if the right combination occurs. They can be placed both online or at live racing tracks and provide a great way to spice up a day at the track; but be wary; their risks outstrip those associated with straight bets and should only be placed when placed carefully.

The three most frequently utilized exotic bets are the quinella, exacta and trifecta. A quinella bet can be easily made by selecting both first and second place finishers regardless of order; an exacta requires selecting two horses with their exact finishing order; finally a trifecta bet covers first, second and third place finishers while superfecta wagers require picking first, second, third and superfecta finishers as a superfecta may prove even harder and costlier to hit; additionally some bettors choose “boxing” their selections in an exotic bet for increased chances while potentially cost increases;

Be sure to plan your bets well ahead of post time, whether at the track or from home. Doing this ensures you won’t find yourself outbid when racing begins – plus weather forecasting may have an impactful on how fast the race goes!

Position is essential when placing exotic bets. Checking your horse’s starting gate number or searching the race program for its post position numbers is the way to ensure success; make note that this race number won’t allow bets if it rains out!

Once you’re comfortable with basic Win, Place and Show bets, it’s time to expand your horizons by exploring more complex horse racing betting bets such as exotics. Exotic bets include exacta, trifecta and superfecta — high-risk bets in which combinations of horses in a race must be selected in order to increase chances of victory; boxing bets is one way of increasing winning chances as this covers every possible combination.