Over the years, betting has grown in popularity. Horse betting is one of those activities that have been a mainstay hobby for a lot of men. Just like the casino, it attracts a good number of individuals who love the thrill of winning big. However, if you are not careful, it is also possible that you end up losing a good amount of money on your bets. If you want to know more about horse racing, here are some things that you need to know.
Do your research
To minimize losses, you will need to do your research. You need to watch a lot of horse races in order to find yourself comfortable about your predictions. You may also want to skip the betting part first. You can just enjoy the races and see how far your predictions are going.
Know the type of bets that you can go for
There are different types of bet that you can go for. These three types of bets include win, place, and show. First, a win bet is the type of bet that predicts the winner of the race. It is the most basic and easy to understand type of bet. Next, a place bet is the type of bet that allows you to win if the horse won first or second place. And third, you have a show bet which means that the horse you are rooting for can win first to third place.
Now, how much money do you get from these types of bets? A win bet will give you more winnings than a show bet.
Just like any type of game that you bet on, there will be the odds. The odds can change right up until the beginning of the race. There are those who simply follow the popular bet, hoping that everyone is correct. Unfortunately, this isn’t always a good strategy. There are those upsets wherein a dark horse can take the entire race. Thus, you still have to understand the game fully before you make a bet.
Odds for instance showed 4-5 odds. What this simply means is that your $5 bet can give you $4 once the horse wins it depending on the type of bet that you made. Horses that are not considered a favorite is called a long shot. For the long shot horses, there are those that have 20-1 odds. That means winning $20 for every $1 bet.
Other types of bets
There are also other types of bets that you can go for. These are called exotic bets. For instance, there’s the exacta. That’s a bet that allows you to pick two horses that you think will take first and second place. They should come in exact order.
Trifecta, on the other hand, is a type of bet that allows you to bet the first to third horses in exact order. And lastly, you have the superfecta that gives you the chance to predict the first to fourth place in exact order. It is harder to win in exotic bets. However, if you really know the horses, why not? It can give you a good amount of money if you win.