HORSE RACE BETTING

Chris & Judy Fairhurst

Glasgow House Stables,
Middleham
North Yorkshire
DL8 4QG

Phone/Fax:
01969 622039

 

E-mail address:  
cfairhurst@tiscali.co.uk

Possibly this is the first question in your mind? 'Where to bet on horse racing?' Simple answer is: Here is a bookie list for you.

Going deeper: Horse race betting occurs in horse races were gamblers usually place a bet on the final positions of the horses in the race. Also horse racing is not legal in all countries. Some tracks specifically ban betting on horses. Parimutuel betting is the most common form used on tracks that allow betting. In this method the money of the betters is pooled and shared among those who won the round. Other places keep bookmarkers who makes a market in odds. To bet on horses one needs to have the ollowing things, the racetrack program, daily racing form, public handicapper section and handicapping tip sheets. The race track program contains details about the horses who are going to run and the races that are going to take place on a particular day. The daily racing form contains details about the past performances of all the horses that are going to run along with informative articles on horse racing and betting. The public handicapper selections is needed when the horse racing of that particular track is covered by the newspaper of the area and a minimal fee is to be paid to gamble on horses. The daily selections which are published by the handicappers present at the racetrack is known as the handicapping tip sheet, and a fee is to be paid for that too.

There are three types betting done in horse races, namely, the win or straight, place and show. The straight bet or win bet is the one where a gambler places in money on the horse which he thinks is going to win. The individual wins if the horse he staked his money on wins and lose if it does not. A place bet is the one where you predict a horse to come second or first. You win the bet if the horse you have bet on comes first, or second. The winning amount is relatively less for the place bet. Also it involves less risk because it is easier to say if the chosen horse will come in one of the three positions than to bet on one position. If the number of horses is not significant enough, then the place bet is not even on offer. Similarly for a show bet the gambler bets on the first, second or third position. In this case the payoff amount is very less compared to a win bet. Even this kind of bet is offered when a large number of horses are running.

There is also another kind of bet prominent in many racing circles known as the wheel bet, where the gambler bets on a single horse to end the race on a specific position. A win bet or straight bet is a specific category of wheel bet.

There are also advanced bets like exotic wagers, Exacta, Quinella or Double are namely the non straight or exotic wagers. In an exacta bet an individual picks up the horses he thinks will finish first and places the bet. He also has to mention the order of the two while placing the bet. Quinella is not a popular kind of bet, but here also you get to pick the first two horses you think is going to finish first, the exact order is not necessarily to be informed. In a double the gambler places his money on two winning horses of two races respectively.

The newest type is the Parlay bet, where a group of people pool in money and place bets on particular horses for particular races. Each gets to pick is orse and race. If the first race is won the money is used on the next race. In such a way the bets get added up.


Photo by Grossick Racing Photography

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