Horse racing is one of the world’s most popular sports to bet on, especially when it comes to the biggest events on the international schedule.
Huge racing events such as the Kentucky Derby, Preakness Stakes and Breeders’ Cup attract mainstream fans to the sport, with interest in betting on the sport increasing.
Therefore, during this time, a lot of newcomers to betting will be looking to make wagers on the action, and that can often prove to be overwhelming given the wide selection of betting markets that are available online in this modern day.
However, you can find out everything that you need to know about betting on the sport here.
Win Betting
The most popular type of betting option for newcomers is win betting. One of the main reasons why this type of market is so popular is due to the fact that it is the most straightforward to understand.
Bettors will simply be wagering their funds on the horse that they believe will win the race in this market, and the stake is lost should your selection finish as the runner-up or worse.
Bettors are paid out based on the odds that they have wagered on. Therefore, if you make a $10 winning stake on a selection at 6/1, then you will win $70. However, if your selection fails to win, then the $10 stake is lost.
Place Betting
Place betting is also an extremely popular betting market for gamblers, as it covers off potential close finishes that may mean that their stake is lost. Bets on this market will see the selection able to finish first or second, and in some cases, third, to claim returns on selections.
However, it is much less lucrative than the win betting market, as the odds on selections in the place betting market will be much shorter. But, it is a popular betting option for those looking to wager on selections in bigger races that are considered outside chances.
It also avoids the risk of losing your stake should your runner finish second or third, meaning that it is an excellent selection for newcomers to betting on the sport that are looking for a positive first experience.
You can try out this strategy in the upcoming Preakness Stakes:
https://www.twinspires.com/preakness-stakes/
Exacta/Trifecta Betting
Experienced bettors will typically complete extensive research before making their selections, meaning that they will typically be able to find value when looking to make bets on the more complex betting markets. One of the most challenging to gain returns on are the Exacta and Trifecta markets.
Here, bettors must correctly predict the finishing order, with an Exacta requiring bettors to predict the first two home, and the Trifecta needing bettors to wager on the horses that finish in exactly first, second, and third. Gaining returns in this market is extremely challenging, meaning that you will need to complete hours of research before making selections.
Typically bettors will weigh up the potential pace angles before making bets on this market, as well as studying the form of each runner in the race and the speed figures that have been recorded.
Exacta/Trifecta Box Betting
A popular alternative to straight Exactas and Trifectas is the opportunity to box selections in order to cover more bases in the hope of having the winning selections. In this market, bettors can select two or more horses in the Exacta box or three or more in the Trifecta box.
The more selections that are included, the better the chance of landing returns from your bet. However, it is worth mentioning that the bet will cost more with the more selections that you include, meaning that you will need to weigh up whether the risk matches the potential returns that you stand to win.
But, the bet is paid out depending on the odds of the selections that finish in the desired positions. Box betting is most popular when it comes to wagering on races such as the Kentucky Derby and Kentucky Oaks.
Ante-Post Betting
Experienced bettors are always looking to get the best value for their selections, which typically means making their selections well in advance of the final fields being declared.
Ante-post betting is extremely popular when it comes to races staged at the Cheltenham Festival, as well as big races such as the Kentucky Derby and Breeders’ Cup Classic.
Bets can be made up to a year in advance of the field being declared, but the big risk comes that the stake is lost should the runner not line up in the race.
However, ante-post markets are typically the best time to get the ultimate value on selections, as they will be available at much bigger odds than they will be on the day of the race.
But, bettors should weigh up whether the horse is an intended runner before making selections.
