How Does Horse Betting Work?

Since horses have been running, people organized some kind of betting on the outcome of the race. Today, we can say that this is one of the most profitable types of betting if you are certain of what you know and you can beat the odds. At the same time, there is nothing like adrenaline of observing horse come down the backstretch with the horse of your choosing that takes the last-minute lead. At the same time, because of all of these elements, it is considered to be one of the most addictive types of betting, mainly because of the adrenaline rush you can hook up really quickly. If you haven’t tried it out, we sincerely advise you to. You can bet on horse races either online, like SilentBet or you can go to the horse tracks.

You can be sure that you are going to have a wonderful time with al of jockeys jockeying, fans screaming and dirt flying. It doesn’t matter if you have been on the track before, you are aware that sports betting and horse racing go together beautifully. If you are interested in trying it, then you are in the right place. On the other hand, if you are looking to improve the knowledge you already have, again, you are in the right place. We are going to show you the ropes of how does horse betting works. Also, we are going to introduce you to the types of horse racing bets. We are guaranteeing that horse betting will be even more fun with all the knowledge we are about to share with you.

Types of Horse Racing Bets

When it comes to the horse racing bets, there are two categories of wagers, straight and exotic wagers. If you are a beginner in horse race betting, we would recommend you to stay within straight wagers. They are both cheap and simple. You are about to select one horse and guess on which on the place he will end. For example, it can come in 1st, 2nd, or 3rd place. You’ll be happy to know that the minimum bet for a majority of tracks is $2. However, if you are more experienced in this field, you can take on some of the exotic wagers, which means that you can bet on multiple horses per race. Naturally, besides you need more experience in the field, they are much more expensive. Of course, the rewards got for exotic wagers are larger than ones with straight wagers.

Straight Wagers

As we said in the previous part of our article when you are betting on straight wagers you are allowed to be on only one horse. Let us present you with all of the types allowed.

  • Win – This one is the simplest by far. You are betting on a horse that will win that race. If your horse wins, you are going to collect.
  • Place – Place means you are about to find a “place” for your horse. This is related to ranking, and you are going to win if your horse finishes first or second. In this case, you are going to collect it. You should have in mind that the reward is a little bit smaller than with the win
  • Show – Now we’ve got to This means that your horse needs to be among the first three places in order for you to collect. Naturally, the reward that comes out of this bet is significantly smaller than the win type.
  • Across the Board – This is the most exciting type among straight wagers. You are betting your horse to win, place, and show at the same time. This is three bets in one, which means that you are betting $2 for all of them, so you are betting $6. Usually, this bet is not the most rewarding one. This seems pretty logical if you have in mind that you are betting on several types at once.
  • Win/Place, Place/Show – This one is pretty similar to the across the board type, but it is not the same. If you are betting on a horse to win and If your horse wins, you are going to collect money for both of these two bets. At the same time, place/show means that you are going to win bets for both of these if the outcome is positive.

Exotic Wagers

As we stated in the previous part of our article when you are choosing one of the exotic wagers. By doing that, you’ll be allowed to improve the potential of the profit you can collect. If you are not careful, your bet might be much bigger than you would want it to be.

  • Exacta – If you decide to try out exacta, then you should know that you are choosing two horses that need to finish first and second. You can collect only if this happens in the correct order you choose.
  • Quinella – We would describe quinella as a flexible type of exacta. The reason for it is that two horses you choose need to finish the first two places, but they don’t have to be in any order. As long as both of them are in the top 2 places, you are good.
  • Trifecta – Trifecta is a really hard thing to score, to be honest. You are betting on three different horses that need to finish in the first three places in an order you choose. There are some under types which you can choose, who will allow you to choose three first places in any order and to collect.
  • Superfecta – You are betting on four different horses than need to finish in the top four places in exact order. You can combine superfecta with exacta and trifecta. Usually, the minimum bet is 10 cents. Because of the small amount of bet, it is pretty appealing to the audience to try it.