Horse Racing for Dummies
HOW TO PLACE A WAGER ON A HORSE RACE
Betting on horse racing, while appearing simple on the surface, involves several key steps to ensure you're making informed decisions. Here's a step-by-step guide to making sure your horse racing bet is placed correctly:
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Clearly state the name of the racetrack to avoid any confusion.
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Specify the race number you're interested in.
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Mention the amount you wish to wager.
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Determine the type of bet you're making.
This could range from betting on a single horse to win, place, or show, to more complex bets involving multiple horses.
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Indicate the horse number or numbers you're backing.
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Always review your ticket for accuracy before leaving the betting window.
BETTING TOOLS YOU NEED AT THE HORSE RACES
Equipping yourself with the right tools can significantly enhance your betting experience and increase your chances of success. Here are some essentials:
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Racetrack program: This is your go-to guide, offering insights on horses, jockeys, trainers, and owners. Generally available for around $3.
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The Daily Racing Form (DRF): An invaluable resource providing past performances, articles, and handicapping by the seasoned DRF team. Typically priced at $4.
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Public handicapper selections: Local newspapers covering your racetrack or OTB may provide daily horse selections, often for just 50 cents.
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Handicapping tip sheets: Curated by experienced handicappers, these daily selections can be a goldmine of information. Usually available for $2.
PAYOFF FOR HORSE RACING
Understanding the potential payoff is essential when determining the risk and reward of your bets. Here's a handy table to guide you:
| Odds | $2 Payoff | Odds | $2 Payoff | Odds | $2 Payoff |
|---|---|---|---|---|---|
| 1/9 | $2.20 | 8/5 | $5.20 | 7/1 | $16.00 |
| 1/5 | $2.40 | 9/5 | $5.60 | 8/1 | $18.00 |
| 2/5 | $2.80 | 2/1 | $6.00 | 9/1 | $20.00 |
| 1/2 | $3.00 | 5/2 | $7.00 | 10/1 | $22.00 |
| 3/5 | $3.20 | 3/1 | $8.00 | 11/1 | $24.00 |
| 4/5 | $3.60 | 7/2 | $9.00 | 12/1 | $26.00 |
| 1/1 | $4.00 | 4/1 | $10.00 | 13/1 | $28.00 |
| 6/5 | $4.40 | 9/2 | $11.00 | 14/1 | $30.00 |
| 7/5 | $4.80 | 5/1 | $12.00 | 15/1 | $32.00 |
| 3/2 | $5.00 | 6/1 | $14.00 | 16/1 | $34.00 |
HOW TO MAKE A SHOW PARLAY BET ON HORSE RACES
If you're with friends and fancy a collective betting experience, the group show parlay is the way to go. Here’s how it works: Everyone contributes an equal amount, say $5. Each participant then selects a race and a horse to bet on for a show. If the first bet wins, the money is reinvested on the next chosen race and horse. This can lead to substantial winnings, especially if the group has a good run.
HELPFUL FACTS FOR BETTING ON HORSE RACING
Knowledge is power, especially when betting on horse races. Here are some insightful facts that could tilt the odds in your favor:
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Every racetrack has a television simulcast commentator who handicaps between the races. Listen and see if you can pick up any good tips to bet on.
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The top ten riders in the jockey standings win about 90 percent of the races run during the meet.
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Favorite horses win about 33 percent of the time, although at low payoffs.
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The morning line isn’t who the racetrack oddsmaker likes in the race. It’s his prediction of how the public will bet the race. A no-brainer method of betting overlays is to play a couple bucks on horses going off at odds two to three times higher than its morning line.
TYPES OF HORSE RACING WAGERS
From simple wagers to more complex ones, understanding each type of bet is crucial. Here's a comprehensive table that breaks down various wagers, their challenges, and potential strategies:
| Bet Type | Your Chances of Winning | Explanation and Expectation | Suggested Plays (Based upon a $100 Bankroll) |
|---|---|---|---|
| Show | Very good | Your horse must finish 1st, 2nd, or 3rd; modest payoffs | $6 per horse |
| Place | Good | Your horse must finish 1st or 2nd; payoffs better than to show |
$5 per horse |
| Win | Average | Your horse must finish 1st; payoff determined by the win odds |
$4 per horse |
| Quinella | Average | Your horses must finish 1st and 2nd in either order; a normal play is to box three horses |
$2 quinella box using three horses costs $6 |
| Exacta | Hard | Your horses must finish 1st and 2nd in exact order; riskier bet that can pay a little or a lot, depending on the horses’ odds |
$1 exacta box using three horses costs $6; $1 exacta box keying one horse with three horses costs $6 |
| Trifecta | Very hard | Your horses must finish 1st, 2nd, and 3rd in exact order; can be expensive to play if you use a lot of horses |
$1 trifecta keying one horse to win over three horses costs $6; $1 trifecta keying two horses to win over four horses costs $12 |
| Superfecta | Extremely hard | Your horses must finish 1st, 2nd, 3rd, and 4th; hard to bet unless you have a sizeable bankroll; big payoff possible |
$1 superfecta keying one horse to win over four horses costs $24 |
| Daily Double | Hard | Your horses must win the two consecutive races; chance for a nice payoff with mid-priced horses |
$2 daily double using two horses in each race costs $8; $2 daily double keying one horse to three horses costs $6 |
| Pick 3 | Very hard | Your horses must win three consecutive races; it’s a daily double plus another race; $1 unit makes it affordable |
$1 pick 3 using two horses in each race costs $8; $1 pick 3 keying one horse with three horses in two other races costs $9 |
| Pick 4 | Extremely hard | Your horses must win four consecutive races; chance for a big score for a modest amount |
$1 pick 4 using two horses in each race costs $16 |
| Pick 6 | Thinking man’s lottery | Your horses must win six consecutive races; very expensive to play; huge payoffs possible; a home run bet |
$2 pick 6 using three singles with two horses each in the other three races costs $16 |
