The Official BParlay.com Beginner’s Guide to Horse Racing Betting has now been published.
There aren’t many more popular sports to bet online than horse racing. The famous pastime has never been more popular than it is in this modern-day, as younger gamblers have become engaged in the sport. However, those that are just starting to look at making bets for the first time can find everything that they need to know in this beginner’s guide to betting on horse racing.
How To Place Bets
To begin making horse racing bets online, you must first register for an account with a sportsbook. Joining the right sportsbook for your betting needs is essential, which means that you should look through each sportsbook to ensure that they cover the races that you wish to bet on. Making bets after signing up is straightforward for all players to understand.
As an example, we will use the win market, as that is the easiest to understand for new customers. First, you should select the horse that you think will win the race that you’re betting on. Then, you will see the selection pop up on your bet slip. Here, you will enter the stake that you want to place on the horse.
After you have entered the amount you want to wager, you can place the bet. The bet will then be settled after the race has been completed. If your selection wins, then you will be awarded the returns from the odds you bet on. However, if your selection loses, then the stake is lost.
Understanding Odds
It is important to understand the odds before making a bet on horse racing. Each selection will have different odds depending on what chance the sportsbook gives the horse of winning. American odds are the most popular in North America. A favorite for a race may be around +200, which means a $10 wager on this selection will return $30. However, horses that are considered to have a more unlikely chance of winning the race may be valued at +1000 or higher.
If you make a $10 selection at +1000, then you would receive $110 in returns from the bet. The returns are made up of $100 from the odds that you have bet on, while you will also get the $10 stake returned. Decimal odds, which are more prominent in Europe, take into account the stake on the wager, which means that +1000 in the decimal layout is 11.00. Fractional odds can also be used, with the same odds being shown at 10/1.
Beginner’s Guide to Horse Racing – Betting Markets
Before making a bet on racing, it is essential to understand the betting markets that you can utilize when making a wager on the sport. Below, we will discuss some of the basic betting markets that you can wager on.
Win Betting
When it comes to the most straightforward betting market available to beginners, the win market is the best bet. Here, gamblers will simply place their stake on the selection that they believe will win the race. Returns are credited to your account if the selection wins, while they are lost if the horse fails to win.
Place Betting
If you aren’t confident enough to bet on the win market, then the place market may appeal. Gamblers will place a bet on a horse to finish in a place position using this market. Selections must finish in one of the places that are decided by the sportsbook. Typically, smaller field races will allow two places, while bigger fields in races such as the Kentucky Derby will allow three places. Returns are awarded regardless of the position that your horse finishes in, as long as it is in one of the places.
Exacta/Trifecta Betting
One of the more complex bets that gamblers can make on a race can be found in the Exacta and Trifecta markets. To achieve the Exacta returns, customers must correctly predict the first two horses to finish the race in the correct order. The Trifecta is similar, but gamblers must also stake their money on the horse that finishes in third.
Biggest Horse Races
Horse racing betting is popular throughout the year. However, there are some bigger races than others. These huge races tend to attract gamblers that don’t bet at any other time of the year and typically center around the Triple Crown races or Grade 1 affairs. You can find some of the biggest races of the North American season below:
What To Consider
Before making a bet on any race, there is some research that gamblers must carry out. This research is essential, as it will ensure that you make a knowledge bet on the race and stand a better chance of gaining returns. The most important factor that gamblers should take into account is the form. Horses with proven form behind them stand the best chance of winning races. The graded form is also worth extra points, as runners with Grade 1 wins will stand a better chance, as they are considered classier.
Race history is also important information that should be looked at. This includes looking at the past winners, including their age, trainer, and owner. This information could show a trend, such as a trainer that has an excellent win record when entering a certain race. As well as this, speed figures, course form, and bloodline should be assessed.
How To Withdraw Funds
Those that are fortunate to have winning bets will be able to take funds out of their account. Withdrawing funds differs on each sportsbook, as there will be different processing times and methods available. For the most part, gamblers will be able to take funds out of their account using debit cards and e-wallets such as PayPal and Skrill.
To withdraw funds, you will need to assess your account, which is typically at the top of the page. You then press ‘Withdraw’ and enter the amount you wish to take out of your account. Once you have completed this step, the funds should be in your account within the time frame offered by the sportsbook.
