If you want to dabble in horse racing betting at your local horse racing track, you will discover that there are a variety of betting methods available to you. For those of you who have never bet on horse racing, there are a few things that you should know to help you along your way.
The main objective of the betting is to beat what is known as the Oddsmakers or the Odds Compilers so that you can win cash from the bet. To place a wager you would do so with a Sports Book, either at the racetrack or via a betting website found on the Internet. The key here is to remember that the Oddsmaker is the one setting the available odds and the Sports Book is the means via which you place your bet.
There are many different kinds of bets, the most commonly used one being the Straight bet. As the name implies, the only way to win with this betting option is if your horse crosses the finish line first. Place is another option meaning that you can still collect winnings if the horse you pick comes in first or second place.
Show betting means that your pick of the race will win if he crosses the finish line in any of the first three places. As we look at further options the betting becomes far more complex and intricate. The Combination Bet gives you the option of picking up to four horses to win, but the order has to be specified.
Pick 3 is a choice that allows the person betting to predict the winner of 3 races in a row. Select Pick 6 and you can choose the winning horses to finish in six consecutive races. Some racetracks provide the option to pick from the first set of six races, the middle set of six races and the last set of six races.
Quiniela or the Reverse Forecast is a concept mostly found in the United Kingdom that permits the person wagering to pick the winners of two consecutive races in either first or second place in either order. You can choose the Perfecta or Straight Forecast betting option to choose two horses to finish in a set order of first and second place.
The Treble Forecast, as the name suggests, allows you to bet on three horses to finish in a specified order. A bet placed using the Superfecta option requires the person betting to select the exact four horses expected to cross the finish line in exact order. To bet on the Daily Double means that you select the first and second race winners on the day before the first race is run. As you can see, horse race betting is no simple matter!. When choosing to bet on the Jackpot, this means that you choose six winners to share in a daily jackpot prize that will vary from racetrack to racetrack.
Parlay or Accumulator betting will allow you to place simultaneous bets on two or more races for that chosen day. Future betting is made on upcoming races that have not yet been run.These prizes do vary depending on the racetrack where the bet is made.
Horse racing betting is by any standards a complex and exciting pastime that requires a combination of luck, skill and a knowledge of the sport. A measure of luck and skill are needed to be successful at it and a good background of the sport will certainly help.