horse race betting

2007-07-17T18:41:00.000-07:00

Horse Race Betting Tips How to Bet on Horses
All bets are placed based on the numbers assigned to a horse by the track. These numbers are printed beside the name of the horse on the race program. Some tracks use the post position as the horse number. Irrespective of the method used by the track, you should always use the program assigned number when purchasing bets.
"Scratches" are horses that have been withdrawn from the race. No bets are sold on these horses. Bets are refundable on late scratches unless the bet specifically states otherwise (eg. off time favorite substituted). Simulcasting is the acceptance of betting on a race that is being conducted at a different track.
BETTING ODDS Odds are an approximation of how much a horse will pay to win a race. You will notice that as wagering on a race progresses closer to post time, the odds will change. Why is that you ask? The monies that are wagered in a race are counted up and put into Pools. What is a Pool? A Pool is where the total amount of money that is wagered on a specific type of bet is held to be redistributed to patrons that have correctly selected the outcome of the specific wager they have placed. Out of these pools certain percentages are subtracted. Why is that you ask? The reason being, a percentage of all money wagered go to governments, racetracks, and Horseman. The Government receives a percentage (for tax purposes) for allowing conduct racing in a certain jurisdiction. The Racetracks receive a percentage for promotions, maintaining the racetrack, and paying employees. The horsemen receive a percentage that makes the Race Tracks able to offer purse money to the owners and trainers for racing horses. If there were no money, there would be no races. After the percentages are removed, the remaining money is paid out. This is where we get our payoffs for winning tickets.
The odds are usually of the form x/y (e.g. 5/1, 9/5). Dividing x by y gives a ratio to 1. The smallest ratio or the largest amount of money on a number represents the favorite.
Winning odds of 2/1 will pay $6.00 for a $2 bet, while 5/1 will pay $12.00 for a $2 bet. Payout is calculated by (odds ratio to 1) x bet amount + bet amount.
Example: For odds of 5/1, the approximate payout for a $2 bet is 5 x $2 = $10 + $2 = $12.
Some tracks allow different minimum amounts on each bet type; generally, $1 bets tends to be the minimum on all bets. The odds are computed based on the sales on the bet less a government and handling tax. These deductions vary and are usually controlled by a regulatory body. Deductions may vary at the same track if there are simulcast races. In addition some tracks tax payouts in excess of a specified limit; generally, this limit is 600/1.
BETTING TIPS Bet only on horses you feel have a good chance of winning. If you don't like a horse, don't bet on it. Give preference to winners. Choose a horse that has won before. Avoid betting on a horse that has just moved up in class. Give an extra point to an experienced jockey on longer distance races (over a mile). A jockey's ability assumes greater importance as the distance increases. Most apprentices are capable to break a horse fast, which is very good in sprint races, and the majority of their wins are usually accomplished under such circumstances. However, in route races (distance of longer than 1-1/8 miles) they usually do not fare as well. This is not necessarily because they are lacking in basic ability but because they are lacking in the experience needed to properly gauge the pace of a race. An experienced jockey can enable a front-running sprinter to perform as well in route races.
Also, give an extra point to an experienced jockey on hurdle racing than on flat racing. A jockey's ability becomes even more important in hurdle racing because no matter how fast the horse is if the jockey falls off or the horse pulls up, the race for that horse is over. There is not even a possible second or third place.
Look for value odds as much as likely winners. If you keep looking for them, you will learn to spot them fairly quickly. Look for a horse that has a fair chance of winning and is not overly backed. This is usually a good value bet in the long run. On odds of say, 10:1, you need to win once in ten attempts to break even. Anything more is net profit. Horses backed heavily by touting services and computer handicappers may win more often, but are usually poor value bets.
The sportsbooks or bookmakers are very well informed and have a very long experience in determining the odds. Their starting prices are usually excellent indicators as to which horses are likely to be among the first three in a given race. Sometimes the mass of the punters will put a lot of weight and money on a horse which will then go to a false price and because of that the other prices of horses will drift in the market, that is get longer. As a result a horse shown favorite or second favorite in the early starting prices may then drop down the list as the start of the race approaches and his odds improve significantly, that is get longer. This doesn't always happen but when it does, bet on the horse that was initially favorite. It is always a good value bet and in the long run you should make a profit.
When the track is slow or heavy, give preference to fast starters. Slow, muddy and heavy track conditions usually favor the horse that takes an early lead. A straight bet is simple, manageable and not too difficult to win. Play it but always weigh up the odds. Avoid favorites and long shots (outsiders) too. Be selective - don't bet on anything or everything. When betting straight, consider betting to win and show, or each-way, if the odds are relatively high.
If a horse is heavily backed just a few minutes before the start of the race and his odds are sharply reduced, bet on it. This is a strong indication that somebody has reliable favorable information about the horse that nobody else is aware of.
The horses to look out for in Lightweights Handicap Races are those whose overall form shows that they are capable of winning, regardless of the class of race in which they compete. Two or more wins in the form shown in newspapers are often indication of a possible big win by a low weight. An added bonus is they usually start at big prices.
When making selections, always give preference to a horse that ran recently. A horse that has not raced for several weeks may have suffered some setbacks like an injury or an illness. No matter how good his form was if it is not recent, chances are the horse will not win.
TYPES OF WAGERS
WIN This bet pays when the number purchased is the winner of the race. Multiple win bets (eg. betting several nos. to win) are allowed in each race. Win odds are displayed on the toteboard for each horse in the race.
PLACE This bet pays if the number purchased finishes first or second. In some countries where SHOW betting is non-existent, this bet pays for first, second and third positions. Some tracks display place odds on the toteboard, while others display these odds on the rotating bet display monitors positioned at various points at the track.
SHOW This bet pays if the number purchased finishes first, second or third. In some countries where SHOW betting is non-existent, this bet is replaced by the Place bet. Some tracks display shows odds on the toteboard, while others display these odds on the rotating bet display monitors positioned at various points at the track.
EXACTA / PERFECTA This bet involves two horses in the same race. The bet pays if the nos. purchased finishes first and second in the exact order specified. Combinations of nos. are allowed which are more popularly known as box or wheel. If you think that either of three horses can finish first or second in the race, then you should box all three nos. for the exacta. This means that if the winner and the second horse are in your selections, you win. Wheeling is less costly, but is a more exacting type of bet. Use the wheel bet only if you can confidently reduce the winner to one or two horses. To wheel, you must specify the nos. to win followed by the nos. for second. Exacta odds are usually displayed on the rotating bet display monitors positioned at various points around the track.
QUINELLA This bet involves two horses in the same race. The bet pays if the nos. purchased finishes first and second in any order. Combinations of nos. are allowed which are more popularly known as box or wheel. If you think that either of three horses can finish first or second in the race, then you should box all three nos. for the quinella. This means that if the winner and the second horse are in your selections, you win. Quinella odds are usually displayed on the rotating bet display monitors positioned at various points around the track.
TRIFECTA The trifecta requires the better to spot first, second and third in the exact order of finish. Unless you are a pro, you should always box or wheel this bet. The payout on this bet is always going to be higher than the exacta or quinela because of the level of difficulty involved. Just listen to the ardent turfites at the track speaking to themselves after the race about how close they came to catching the trifecta along with a multitude of excuses which seem to repeat race after race. These odds are not usually displayed, mainly because of the number of combinations.
DOUBLE This bet requires you to identify both winners of two separate races (usually in succession). Wheel bets are common when playing the double. Doubles are sometimes sold in overlapping races. eg. race 1 with race2, race 2 with race3, race3 with race4 and so on. Double odds are usually displayed on the rotating bet display monitors positioned at various points around the track.

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horse racing betting odds

2006-11-16T07:34:00.000-08:00

horse racing betting odds

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Horse racing is known as the sport of kings and many people around the world enjoy horse racing betting. However, horse racing betting is much more than just picking the horse with the catchiest name or the best odds. If you’re serious about betting on the ponies it’s a good idea to consult with some of the expert odds makers who know why a particular horse is expected to win, place, or show. An expert will examine every aspect of the upcoming races. They’ll start with the horse and examine its record in previous races. This will include not only the overall record, but also how the horse has done under different track conditions and different lengths.
The expert in horse racing betting will also take a close look at the jockeys that will be riding the horses. What is their history both on and off the track? Do they have a difficult time maintaining the proper weight or are they really dedicated to the sport? What is their overall record and if they’ve ridden a particular horse before how have they done? All of these are factors that can affect the horse racing betting odds and the more you know the better your chances of placing winning bets.
The experts will also know all about the track conditions and how they will affect individual horses and riders. If the track is slow that may change the horse racing betting odds on an individual horse that runs better on fast tracks. So get all the information you can and then enjoy betting on the sport of kings.

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