If you are a beginner in horse races, you have to study this particular betting and learn how to bet on horse races to get your aim of winning and of course, to avoid, as much as possible, losing hard earned money.
You also need to come up with a good strategy when it comes to betting on horse races. In fact, horse betting is not just about betting on a horse that will be the first to cross the finish line. You have to know that there are many kinds of betting and where to put your money for a big win is an important thing that you should consider in learning how to bet on horse races.
When you bet on horse races you have two types of wagers to choose from: straight wagers and exotic wagers. The main difference between them is that straight wagers allow you to pick one horse which you predict will come in first, second or third, while exotic wagers let you make multiple bets on several horses at once.
Types of straight wagers
There are the simplest and often the cheapest wagers available:
Straight win – Where you bet that your horse comes first.
Place only – You wager that your horse will either come in first or second place. The odds are better for this type of bet compared to a straight bet, but your payout will be less.
Show bet – You wager that your horse will finish in first, second or third position. Again, the odds for this bet type is better than the previous two, but the payout is comparatively less.
Across the board – This bet type combines all the previous three bets into one. It’s more expensive than the other types, but the profit potential is higher.
Types of exotic wagers
Exotic wagers are harder to win and more expensive than straight wagers, so they generally require more skill by the player.
Exacta – With an exacta bet, you’re betting on two horses to finish in first and second place in an exact order.
Quinella – With this bet you’re wagering on two horses to finish in first and second places in any order.
Trifecta – In this bet type you pick the three horses which will finish in first, second and third position in an exact order.