A Beginner’s Guide to Betting on Horse Races

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If simply watching the horse races is not exciting enough for you, then betting on the outcome could add another layer of interaction and suspense to the race. Anyone who understands how horse racing works can place wagers on the outcome. You should aim to have as good an understanding of the sport as possible before you consider betting on it.

Once you are confident that you have a firm grasp of horse racing and how it works, you can bet on the outcome of races with confidence. Below, we have listed the most common forms of horse racing bets. These are the bets that new players should stick to until they have found their feet.

Win

This type of bet is the most common and the easiest to understand. This bet is a simple wager on who you think will win the race. If the horse you select finishes in pole position, you will have won the bet. You can use websites like https://www.oddsshark.com/horse-racing for the latest odds, news, and tips that gamblers need to know.

Place

Betting on a horse to place means betting on it coming in first or second place. For inexperienced gamblers, the added security this provides makes it a more tempting betting option than betting on who will win the race. There is nothing more frustrating than watching the horse that you have bet on hold its leading position for the majority of the race, only to lose it at the final hurdle. If you bet on your horse to place rather than win, you can still receive a payout if it trips and falls in the last stretch.

Show

A show bet is the same as a place bet, except you are betting on the horse coming within the top 3.

Across the Board

An across-the-board bet is a bet for a win, place, and show all at the same time. Obviously, each horse can only finish in one position. However, if your chosen horse wins, you will receive a payout for all three bets. On the other hand, if the horse finishes the race in second place, you will receive a payout for the place and show bets.

EXACTA

The EXACTA is a more exotic form of wager where you are betting on two different horses to come in first and second place. To win the bet, you must specify the order that they come in. This is a type of bet that should be reserved for the most experienced gamblers only. Not only do you need to be able to predict the winner, you also need to predict who will come in second.

Betting on horse races is straightforward enough. However, as with any sport, you should hold off putting any money down until you are confident you understand the nuances of the sport. Place and show bets are good options for beginners as you don’t need to identify exactly where the horse will finish. Once you’re more familiar with the horses and jockeys, you can place more ambitious bets.