How Common is Horse Betting?

When you hear of sports betting, you hear about football, basketball, boxing etc. Although it’s 100% legal, horse betting is still not as popular as other sporting events. After all, when was the last time your buddy told you that he just dropped $500 on a horse.

That said, according to Statista, horse betting is still a 2 billion dollar a year industry and growing fast. This is just in the United States alone.

It’s also growing rapidly in Canada especially in the province of Alberta. It already has a rich history of oil, farming and high level country living.

So why is horse betting still in the shadows and not promoted by the media as much as the other sports?

Is it something only the rich and famous with fancy hats can enjoy?

Perhaps it’s something not meant for us common folks . . . who need a payday loan every now and then just to get by.

Whatever the reason is, betting on horses is actually one of the oldest forms of sports betting around.

Believe it or not, horse betting has been going on for hundreds of years. It has been a common form of gambling for centuries. The earliest account of a bet associated with a horse race goes all the way back to 1602 BC. In an area the historians consider as Mesopotamia (Middle East).

In fact, the first horse betting book was published in England in around 1791, and the first American racing newspaper was published in 1894. In total, there are now over 200 horse racing newspapers around the world.

If you are new to this world of horse betting, let us help you out with the basics.

Overall, there are two main types of bets that are placed on horse betting: Straight and Exotics.

Straight bets are straightforward and each horse has one payoff. Exotics however, like ‘The Three-Horse Exacta’ (choosing the winners of two consecutive races) and ‘The Superfecta’ (picking the winners of four consecutive races) offer more complex payoffs.

In the US, horse-racing is regulated by state governments, and all participants must be licensed by a state racing commission. In 2016, New York passed a law requiring that any person involved in the racing industry should be fingerprinted and have their backgrounds checked.

In other countries, they have their own regulated boards that make sure horse betting is properly managed. Including distribution and proper allocation of the funds required to maintain the sport.

Basically, horse betting is one of the most legal ways of getting into betting right now.

By the way, betting at local horse racing tracks can actually be a really fun family event.

Especially if you have a seasonal horse track near by. They usually have fun little shops where you and the kids can grab some fun hot dogs and bet on your favorite horses. All while enjoying from the sidelines. It’s like watching the ball game. Same atmosphere.

Unlike any professional derby racing though, here the horses and the jockeys would be competing for just a few thousand dollars or so.

Either way, it can be one heck of a joyous event.

Anyways, it looks like slowly and maturely, the time for horse betting is coming.

Soon it will be considered as one of the most popular ways to bet in sports period.

All thanks to horses like Seabiscuit, Man-O-War and a few others. Who have been getting serious media attention since their respective wins.

Now the question is, when horse betting does become a household thing to do, how much will you be willing to bet?

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