1CRIC Guide on How to Bet on Horse Racing. Have you ever considered participating in horse racing? There are several opportunities to put a wager, ranging from your local racetrack to the Kentucky Derby. And here’s the best part: you don’t have to be an expert to take part or even win money. Even beginners can enjoy betting on horses once they understand the basics of how to bet on horses and the language involved. Before you place a bet, make sure you’re up to date so you have the best chance of winning big.
Where to Bet on Horse Racing
You can wager on races if you live near a racetrack. However, thanks to technological advances, you don’t have to be near a track to enjoy the sport. Horse betting is available in a number of locations both local and far.
Racetrack
Look for the phrases “Park,” “Downs,” “Racetrack,” “Raceway,” or “Race Course” to locate a nearby track with live racing where you can bet and watch at the same time. If you have the opportunity, this is a terrific alternative because you will be able to interact with other bettors and racing aficionados, ask questions of personnel, and see the horses in person before races.
Online
To quickly transfer funds for betting, websites such as TVG, NYRA Bets, and Bet America need you to create an account linked to your PayPal or bank account. You can wager on and watch races from your computer or mobile phone if you have an account.
Off-track Betting (OTB)
Look for casinos, bar and grills, or other OTB locations where you can bet on regional races or simulcast races while you eat or gamble. Some — but not all — states and provinces offer off-track betting.
Common Terms in Horse Racing
When you’re ready to bet, you’ll frequently need to swiftly state or select the racetrack, exact race, horse, and wager. Knowing what to say can boost your confidence and keep the lines moving.
Types of Races
There are distinct types of horses that have a better chance of winning in each type of race. The betting conditions and wagers are generally the same, however different horses have an edge in particular races.
- Flat races are the most prevalent type of horse race, with horses ridden by jockeys competing on flat dirt, turf, or synthetic courses. Choose horses with expertise on the track material and at the race distance.
- Harness racing entails a horse pulling a two-wheeled cart including a jockey. Horses must maintain a trot speed, therefore search for those who specialize in this style of racing.
- Steeple chasing is a horse racing that includes hurdles and obstacles. Fillies have the edge here since they can clear the hurdles more easily.
Betting Terms
The number of horses in a race determines the types of bets that are permitted.
- Win: Your one horse will take first place in the race and finish first.
- Place: Your one horse will finish second in the race.
- Show: Your one horse will place third in the race.
- Exacta: Your two horses will finish first and second, in the order you specify.
- Quinella: In any sequence, your two horses will finish first and second.
- Trifecta: Your three horses will finish first, second, and third, in the order you specify.
- Choose four horses and the exact order in which they will finish, first through fourth.
- Box: To “box” an Exacta, Trifecta, or Superfecta bet means you have chosen to play all combinations of possible finishes for your horses. In other words, your chosen horses can arrive in any order – for a higher cost to place the wager.
Additional Terms to Know
You’ll also want to familiarize yourself with these terms before placing your bet:
- Scratch: When a horse withdraws from a scheduled race
- MTP: “Minutes to Post” refers to the amount of time until bets are no longer accepted and the race begins
- OTB: “Off-track betting” refers to a place where you can bet on horse races remotely from a location other than the actual track
- Jockey is the person who rides the horse during a race.
- Daily Racing Schedule: Paper with statistics about each race, such as the length of the race, the horses in the race, and their owners, riders, and trainers.
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