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You don’t have to be a seasoned pro when it comes to placing a wager on horse racing, but having a bit of knowledge can help. Picking a lucky number or a name that stands out is one thing, and can be fun, but if you want a better chance of winning, taking some time to make your selection could be a massive help.
Betting on horses is easier than ever before, and many online operators offer consumers premium betting options. Online gambling expert Ciaran McEneaney explains that players can make the most of a great selection of bets, competitive prices, and exciting bonuses. To help casual bettors make the most of the day at the races, here’s everything you need to know in one handy guide.
Do You Have to Be an Expert to Bet on Horses?
You do not have to be a horse racing expert to place a bet on a horse. Anyone who is of age can place a wager, and an element of luck is always present when betting.
Knowing more about horse racing can help you find the selections with the best chances of winning, but there are never any guarantees, and an odds-on favorite could fall at a fence or an underdog could run the race of its life to upset the odds.
Where to Bet
If you want to place a bet, the first thing you will have to do is find a legal operator to accept it. If you are at a racetrack, course bookmakers will be present for you to place your bets. Options away from racecourses include licensed betting offices and online operators. Since the legality of betting differs by state, finding out what options are legal and licensed is advised.
In states where betting online is prohibited, consumers can still access offshore operators. Taking the time to find ones that are licensed and reputable is recommended, and many of these make it easy for bettors to compare odds and make the most of enticing bonuses.
How to Bet on Horses
Win Only
Win-only bets are self-explanatory in that the horse you back must win for you to get a return.
Each Way
Each-way bets are technically two different bets, one to win and one to place. For example, a $1 EW bet would cost $2, and the horse would have to win for both parts to come up, or finish in a pre-defined place position for the second part to come up.
Accumulators
Accumulator bets include more than one selection across different races. A straight accumulator must see all selections win for the bet to win.
Bettors can also place accumulators with different permutations included. For example, a bet on four horses across four races would have a total of 15 bets: 4 singles, 6 doubles, 4 trebles, and 1 four-fold. Each of these would require a stake, so a bet of $15 would be broken down into 15 $1 bets.
Top Tips for Casual Horse Race Betting
Do a Bit of Research
Nobody expects you to spend days researching all the runners in a race, but a bit of research can help. The form of a horse and jockey, the type and distance of a race, and even the weather can play a big part in the outcome of a race.
You will be able to find information about the form online or in dedicated horse racing publications. Combining your own brief research with that of experts will help you find the best options.
Set a Budget
You should always bet responsibly, and one way to ensure you don’t spend more than you can afford is by having a dedicated bankroll for betting.
By budgeting, you can plan out your day at the races, and any winnings could go back into the pot, allowing you to increase the value of your bet without the same level of risk.
Find the Best Deals and Odds
Many operators offer deals to new customers that can improve odds or match deposits. Taking a look at the terms and conditions of offers, as well as checking the odds being offered by operators, will help to increase your winnings.
Conclusion
Betting on horse racing is supposed to be fun. While nobody wants to do homework to fully understand the market, a bit of research can help.
Listening to expert race reviews and taking into account the odds bookmakers have set for races should point you in the right direction. Staying within your budget doesn’t have to be a challenge if you find an online operator that offers great bonuses, and you can also shop around for the best odds on your selections to make sure you win as much as possible.
