To begin talking about horse racing for beginners, we need to start with a look at why this sport is so popular.
Horse races have been enjoyed across the world throughout history and thoroughbred horse racing is known as the Sport of Kings due to its style and appeal. Just like greyhound racing, people love watching horses gallop around a track and placing a bet on them makes it even more exciting.
Watching horse racing remains as popular as ever, with huge races held in different countries. Most tracks offer the chance to place a bet but it’s the arrival of online sportsbooks that has allowed far more people to take part. Racing fans can now join the action by betting online at Evo.io. As well as being a leading crypto casino with many Las Vegas style slots and table games, we also offer sports betting.
This is the ideal place to wager on the Kentucky Derby at Churchill Downs, and other major races in the US and elsewhere. You’ll find races from across the planet to bet on, from flat racing in Dubai to jump racing in the UK and a lot more.
Read on to find out how to bet on horse races and give yourself a good chance of picking a winner while having fun. We’ll be giving you the inside track on betting on horses and the common betting mistakes to avoid.
Understanding The Basics: Horse Racing For Beginners
Before you place a wager on a horse race, you need to understand some of the basic terms that you’ll come across in this sport. Plenty of phrases used in this industry can seem confusing to beginners, but it’s fairly easy to get to grips with by taking a moment to discover the basics.
Explanation of Key Terms
At first sight, the terms used in horse racing might seem confusing. However, you can better understand the sport by checking out the following key words and phrases.
- A furlong is one-eighth of a mile and is commonly used to express the length of races as well as the distance between one horse and another as they run.
- A sprint is a short race that covers no more than seven furlongs.
- A trifecta bet is a type of wager where you pick the first three horses in the order you expect them to finish.
- Exacta betting is where you predict the first two horses in the order they finish.
- Post position refers to the starting position randomly assigned to each horse, which can affect their chances of winning.
- Handicap is a type of horse race where the different horses wear varying weights
- Derby is a stakes race that is exclusively for three-year-old horses.
- Graded Race is the highest level of horse race in the US. It’s a stakes race that has been given grade I, II, or III by the American Graded Stakes Committee by assessing the overall strength of the race.
Different Types of Horse Races
Just what can you expect when you bet on horse races? Each horse track is different because they host a variety of ways of racing that you need to know about.
- Flat racing is normally carried out on an oval track and is simply a race from the starting point to the finish over a flat track. Flat racing is carried out all over the world and is the type of race you’ll come across.
- Steeplechase or jump racing adds a series of obstacles that the horses need to jump over. In the UK, this is known as National Hunt racing.
- Harness racing is slower-paced, as the horses trot around the track while pulling a cart with the jockey in it. In the US, standardbred horses are used in harness racing.
- Endurance racing is carried out over longer distances, where all the horses need to race up to 100 miles. The American Endurance Ride Conference oversees this sport in the US.
Different breeds are used in each of the categories, such as the thoroughbred and quarter horse in flat racing or the AQPS and thoroughbred in jumps racing.
History and Significance of Horse Racing in Various Cultures
Many ancient cultures from Rome to Greece and Arabia enjoyed horse racing in the past. It was carried out as a sport and for betting purposes, while horses also feature heavily in mythological stories as a symbol of strength and freedom.
Chariot racing and races with human athletes as jockeys have been big business across the globe, with many festivals and events springing up around them.
We can see horses and races depicted in many paintings over the centuries. It was commonly seen as a test for the horses and their jockeys while entertaining the crowds.
Of course, the sport wasn’t always as safe as it is now, with Roman chariot racing among the high-speed versions that often led to spectacular chases.
Types of Bets in Thoroughbred Horse Racing
To get started, you need to know about the different horse racing bets you can place. The following are the most common wagers to be aware of.
Win, Place, and Show Bets
These are the traditional types of straight bets. A win bet is where you predict which horse wins the race overall. You collect a profit if you choose the winning horse but lose if a different horse wins. Nothing else matters but the name of the horse is first past the finish line.
A place bet is different because it doesn’t only pay out with your horse winning. You also collect a win if it finishes in second place. This type of wager can be placed in races where there are more than five horses taking. Expect to win less than with a win bet, as there’s a greater chance of getting it right so the odds aren’t as good.
A show bet pays out if your chosen runner finishes in one of the top three places. If your horse places in the top three, you win. The odds will be lower than for win or place bets, as you have more chance of a good result than in the other types.
When you enter a sportsbook, you’ll see different odds for each of these bets and for each race. Look for the horse you want to choose and you’ll see the different odds listed alongside the name. Simply choose the bet you feel most confident about placing. Enter the amount you want to wager and you’ll see how much you could win. If you want to go ahead. Confirm the bet and wait to see whether you win money once the race is completed.
Exotic Bets
Exotic bets are more complex than the options we just looked at but are still simple to place. These are popular wagers among those fans who want to aim for bigger wins by making a more complete prediction of the outcome.
- Exacta is where you choose which two horses finish in the top places. If you choose the exact box option, it doesn’t matter which exact order they finish in.
- A trifecta bet includes the first three horses in the race and they need to finish first, second and third in the order you choose for the wages to pay out.
- Superfecta is a bet on the first four horses to cross the finish line.
- A Quinella bet sees you predict the first two horses to finish the race. If each horse finishes in the position you predicted, you win.
The attraction of an exotic bet is that you can get better wins as the odds are longer on choosing two or more horses in a single race. This makes it trickier for beginners to get right but it may suit someone who studies the horses and feels that they know what will happen. It’s also a fun way to add extra interest to any race where there is a strong favorite.
In terms of strategies, some people like to place a combination of exotic bets, to increase the chances of winning big on at least one of them. Understanding the odds and potential payouts of each bet is more important with this strategy, as the numbers need to work for you. If they do, you could consider this as one of the smart wagers for getting big wins by using your knowledge and research skills.
Multiple Race Bets
Rather than betting on one race, this approach is about looking at other horses in different races. This is done using wagers like Daily Double, Pick 3, and Pick 4. You’re looking to pick the winners in multiple races. It can be done on a day’s racing at a single track, in which case you need to check the outcome of each race number to see if your wager is going well.
It’s exciting because once you get a winner you need to wait until the next race starts to see if you still have a chance of a big win. If you feel that multiple horses are going to win in consecutive races, this can be a smart way to increase the potential payout.
You’ll want to study each horse race on the card, to see which runner is likely to turn in the best performance in each case. If you don’t choose the best horse in a single race and fail to win, the whole bet loses.
Analyzing Horse Races
There are good reasons why bettors research past performances to find out the horse’s form and the jockey’s form. Some go further and study horse owners to see how their horses are likely to perform.
You can easily find out about any horse’s form online by looking at the latest race results. In the same way, you can see whether the jockey is on a winning streak and what the trainer’s statistics are like just now.
You can now check the race track conditions, to see if they suit the horse you’re interested in backing. Does one of the horses prefer wet and muddy conditions or is there one that loves dry, sunny weather? Read the race program or daily racing form guide thoroughly to understand each horse’s chances of winning.
When carrying out online betting, it’s easy to see the latest odds. Depending on your approach, you might look for favorites or decide to bet on an outsider you feel has a chance of giving you a larger win. By entering the wager amount, you can see instantly how much the winnings would be.
Betting Strategies for Beginners
For many sports fans, one of the best ways to get started with online betting is to keep it simple. This means sticking to the following basic strategies when choosing which horse to place your wager on.
Betting on favorites is one of the simplest moves. This bet type is always going to give you a chance to win. Place and show options may be the best bets for getting bigger odds if you’ve done research, but working out who will finish first, second and third is difficult for newcomers to the sport.
Managing your bankroll is the next crucial step. You don’t want to bet more than you can afford to lose, so you need to carefully work out how much you can bet overall. You won’t win every race, so bear in mind that you shouldn’t go chasing losses. If this is simply a fun activity for you, work out the level of your wagers so that you can carry on for as long as you like.
Patience and Discipline
It’s easy to get started by betting on multiple horses or races right away. However, using patience and discipline is a far better idea. This means that you can research each race and make a wager when you feel comfortable that you understand the importance of making informed bets.
How to Bet on Horse Racing at Evo.io
Start your horse racing adventure by creating an account at Evo.io. You need to follow a short registration process where you enter your email address and create a new password.
Choose how much you want to deposit and the cryptocurrency you’re going to use. The options include BTC, ETH, MATIC, BNB, and TRX. You’ll then be advised of the wallet address to send your funds to.
You can then head to the horse racing section by choosing the sports betting option. Look for a race that interests you and you can then choose which horse you want to bet on. The odds are listed beside each runner and when you enter a wager amount, you’ll see the amount it would win for you.
Understanding Payouts and Odds
Pari mutuel wagering is a type of horse race wagering where bets are pooled and the winning amount is shared between the winners. The difference between fixed odds betting is that you don’t know how much you can win until betting closes and the final pool can be calculated.
The next point you might come across is the way that different odds are used. While the end result is the same, it’s important to understand the differences between the most commonly used types of odds.
- Fractional odds show you the amount of profit as a fraction. So, a bet on one horse at 3/1 would give you three times the stake as profit. A $1 bet would give you a $3 profit.
- Decimal odds tell you the total return in a single figure. Using the example above, the odds would be 4, as you get $3 profit plus the return of your wager.
- American odds with a positive figure tell you how much you win for a $100 bet. With a negative number, this is the amount needed to win $100 in profit.
By understanding how horse racing odds work, you can work out how to maximize your potential returns. Do this by working out in each case where the odds make it a worthwhile bet, based on how likely you think the outcome is.
Common Mistakes to Avoid While Watching Horse Racing
Common betting mistakes can stop you from making money by wagering on horses. Remember to make decisions on the next race based on an analysis of past performances and the current situation. Emotional betting should be avoided, as this is where you make decisions based on how you feel rather than using the facts.
Manage your expectations too, as the horses you choose won’t always cross the finish line first. You can still win money by backing more winning horses than those that lose. However, you should look at this as a fun activity where you have a good chance of winning money rather than relying on it to give you huge profits every time.
Start Horse Racing in Style
This look at how to start betting on horse racing shows that anyone can do it. By following a few simple steps and taking a sensible approach, you can work out which horse you think will win. Even if you’ve never been to a track or bet on a horse before, the online process makes it easy to do.
Start betting responsibly at Evo.io to enjoy the excitement of horse racing. Whether you decide to head to the races at a local track or follow the action online, placing a wager on the horse you think will add greatly to the appeal.
Once you start betting, look to create a winning edge by learning continuously and using the good habits we’ve looked at here. Get it right and you can win money in a fun and highly entertaining way.