If horse racing interests you, then you are following the right material! As a neophyte to this industry, you need to back yourself up with as much knowledge as you can store before you get into the actual race. If you plan of putting bets on the race day, make sure that you are tuned in and know the basics and the artistry of betting, or you will get yourself and your bankroll in trouble!
Aspiring for success in horse racing industry means aiming for higher racing odds. High odds guarantee your success and sure winning in the racetrack. But to achieve this so-called success, you need to be fully equipped with knowledge, skills and practical insights in every facet of horse racing.
The basic of racing is not just about you getting into the cashier and ticketing booth, point your favorite horse, pay, wait for the result, and that’s it, you are already betting! If you think that wager is as simple as this, you better think twice!
Betting is as complicated as choosing a winning horse. You need to know the exact process of how it is done, its terminologies, its types and its calculations. Yeah, complicated, right? That is why you need to be entirely ready and gear yourself with accurate details by starting with the basic types of bets for horse racing.
Here are the Common Types of Bets for Horse Racing that Beginner Must Know About
Type 1: WIN
The win is the most popular and most favored type of bet that horse bettors commonly register. It is well-used because it is easy to understand, very traditional and the winning horse is identified. Thus, this type is perfect for starters and beginners in the field.
But what is a win type of bet? Simple, you pick a horse from the racetrack and bet for it to finish first. You have to make sure that it ranks first because if it does not or if it falls second or third, you lose together with the money you put on at stake. However, if the horse wins first place, then you get to collect a substantial amount of money, and it means big bucks!
The only problem with win type is that you need to make sure that your horse wins first because there is already no other way of getting back a portion of your money from the similar race if it falls out. Scary, indeed! But a bigger reward requires a more significant wager.
Type 2: PLACE
Like the first type of betting, a place wager is also easy to follow and to understand. The only difference between these two is that win type requires your bet to come first place while the place type gives you a little chance and counts your horse as well even if it falls to the second place in the race.
The only beauty of place betting is that you have two chances of winning. If your horse comes first, you get your payout. If it also comes second, you receive your win equally. However, promising as it sounds, the payout for the place betting is lesser than the win betting. But if you are just after winning security and getting back your money, place betting isn’t a bad idea to consider.
Type 3: SHOW
The show type of betting is parallel to win and place bets. The only difference in this type is that it gives you more betting odds because three places are filled in to consider you as a winner. Similar to the first two betting types, if your horse makes it on the first, second or third place, you get an equal payout.
The only downside of show betting is that you get a lesser profit when compared to what you can collect from win or place betting. But since show betting hedges your odds of winning, then it is no longer as bad as it sounds. Besides, what more could you ask for? You increase your chances of winning and still get the money you bet on with a little interest in just a single race.
Type 4: QUINELLA
Opposite to the first three betting types, quinella betting is under exotic bets where you combine your wagers. It’s a bit complicated when compared to win, place and show betting. In the previous three bets, all you have to do is pick one potential equine athlete, but in quinella betting, you need to choose two athletes who you think can make it to the top two places.
The two racehorses that you pick must make it to the first and second places. There is no particular order in which horse comes first or second. As long as the two athletes make it to the top two posts, then you are a sure winner!
Takeaway
Whatever betting type you choose when you enter into the racetrack, make sure that you know its rules, scope, and guidelines. You don’t want to get your hopes up on false notices, do you? So, to avoid this unfortunate instance, be prepared and be wise in your every move!
