Horse Race Betting Explained
By: Richard Bleuze
Horse Race Betting Explained.
The purpose of this article will be to explain the basic bets available to the racetrack bettor. This article will not give advice on how to choose which specific horse to bet on. If you need to bone up on the basics of racetrack betting you are in the right place.
Pari-Mutuel Betting
The racetrack operates on the same principle as an insurance company. A group of bettors pool their money together. The track takes out a cut for themselves to cover expenses and profit, and the rest is given back to the winning players.
At the track there are various types of bets available. All money bet on a specific kind of wager is pooled together. Once the betting is closed, the track will deduct their share.
Betting Options
Win: This is that most basic bet that the chosen horse will finish in first place. This is the bet the Pro's use since the payout is higher.
Place: This is a bet that the chosen horse will finish first or second.
Show: This is a bet that the chosen horse will finish first, second, or third.
Daily Double: This is a bet on the first place position in two consecutive races, generally the first two of the day. The bettor must correctly pick both races to win.
Pick Three: This is a bet on the first place position in three consecutive races.
Pick Six: This is a bet on the first place position of six consecutive races, generally the last six. In the event nobody wins, the winning pool is split between those correctly picking five (or less if nobody picked five) and a carryover to the next pick six pool.
Exacta: You pick the first two horses in order of finish, must be exact in a given race. You can box an exacta (see below)
Quinella: This is a bet is on the first and second place horse in a given race in any order.
Trifecta: First 3 horses to finish, you must pick the first three in a race, as in the exacta. You can "Box" your horses in that case if your three come in in any order you win, you can also box an exacta.
If you don't box them, they must run in the order you picked. You bet 1-2-3 it must come 1-2-3, if you box them 3-2-1 you win or any combo of the three..2-1-3 1-3-2 and so on.
The payoff is less on a box.
Twin Trifecta: This is a pair of trifecta bets on two races. The winning pool is split between winners of the first trifecta and winners of both of them. After the first race, winners of that trifecta should redeem their tickets for winnings from the first half of the pool and a ticket for the second half.
Superfecta: This bet is on the first, second, third, and fourth places in a given race in the correct order.
Parlay: You take all the winnings from a race and "parlay" it, which means it all goes on another race. If the second race loses you lose everything you won on the first. It's like “double or nothing.”
Odd/Even: This is an uncommon bet based on the number of the winning horse.
The minimum bet is usually $2 on win, place, and show bets, and $1 on all others.
Why not try your luck at 5Dimes. Choose from 165 racing tracks, including 24 major venues like Arlington, Belmont, and Santa Anita. View the selection of 5Dimes racebook tracks available for wagering
About the Author:
Richard's horse racing articles can be found on http://www.bettingthehorsesonline.com
He also provides articles about online gambling on http://www.24-7wagering.com
Horse race betting does not have to be a gamble. Contrary to popular opinion, betting the horses is a far better “investment than the stock market. In horse racing you are betting against other bettors. And the average bettor is not a sophisticated bettor, whereas in the stock market, you are playing against the best minds. Gambling means betting with your emotions, or intuition. But by taking a statistical, systematic approach to betting horses you can and will win consistently.
During the past 25 years, I have seen lots of horse bettors fall by the wayside. Why? Because they did not use systematic approach to horse betting. Instead, they bet with their emotions. If you apply statistics to horse betting, it is impossible to fail. Statistics do not change over time. Statistics that have held true in horse betting for decades will continue to be valid.
Horse betting has been around since ancient times. But today's horse betting only evolved in the middle of the 20th century with the advent of pari-mutuel horse betting. This is where the racetrack takes a fee and redistributes the money left to the winning bettors.
One of the biggest drawbacks to horse race betting was that you had to go to the racetrack to wager. That meant taking the entire day to place a bet. And it meant limiting yourself to whatever good wagers there were that day; even if there were better bets elsewhere. Now, with the advent of Internet, online wagering, you can bet horses from anywhere you can take a laptop into a “wired” environment. Online horse betting frees you to bet whenever and where ever you are and have time.
Betting the horses can enable you to ensure your future. With companies laying off employees every day, there is no such thing as a job for life anymore. Betting the horse can mean being in control of your own density, and not leave your fate to the hands of an impersonal corporation. With the advent of Internet wagering, you can bet any racetrack in the country without giving up your primary job or spending years starting your own business – which require an average of 60 hours per week. Horse race betting can provide a consistent return – something you can count on and depend upon. There are many free horse race betting systems, but you get what you pay for. To win at he races requires patience because there is not a good bet each and every day, and it requires consistency that comes from a racetrack betting system based on statistics.
There is only one racetrack betting system out there that is based on irrefutable statistics accumulated over thirty years and that is, “A Ph.D. shows you how to beat the races.”
Betting unemotionally, and following a proven racetrack betting strategy, you will gain financial independence.
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