Horse racing is one of the oldest and most exciting betting markets in the world. With the right approach, it offers fast-paced action and nice value. Not to mention, it can be a lot of fun. Now is a great time to get into horse racing with the Kentucky Derby this weekend! Let’s take a look at how to bet on horse racing with this beginner’s guide!
How To Bet On Horse Racing: A Beginner’s Guide
Starting With Basics: How To Bet Horse Racing Straight Up
For beginners wanting to learn how to bet on horse racing, it’s best to start with simple wagers. These are just straight bets. Consider them Moneyline plays if you’re more familiar with other sports betting. A win bet simply means your horse must finish first. A place bet pays out if the horse finishes first or second.
There’s also a show bet. A show bet pays if the horse finishes in the top three. You’ll see plenty of options when betting on horse racing to bet on win, place, or show. These bets are lower risk and do have smaller payouts. However, they’re easier to hit and will help you learn the game.
Some good news with horse racing, you can bet on it in most places and states!
Exotic Bets: The Exacta
Maybe you are already comfortable with betting win, place, or show, and you want to get a little fancier. The next thing to cover when considering how to bet on horse racing is the exotic bets. These contain the exacta, trifecta, and superfecta.
An exacta requires you to pick the first two finishing horses in exact order. For example, if you bet an exacta on horse number three to finish first and horse number seven to finish second, they must finish in that exact order. You could also play an exacta box, which covers both combinations of three and seven or seven and three.
However, keep in mind that a $2 exacta box would cost you $4 because you’re covering two outcomes. An exacta is like a two-team parlay.
Exotic Bets: The Trifecta
A trifecta bet means you are picking the top three finishers in exact order. If you select horses two, five, and eight, they must finish first, second, and third in that exact sequence. Just like the exacta box, you can play a trifecta box. This would include all possible combinations of your selected horses finishing in the top three.
A three-horse trifecta box costs $6 for a $1 base bet because there are six possible combinations. Trifectas may be hard to hit, however, their payout is very good since calling the first three horses in exact order isn’t easy to do. A trifecta is like a three-team parlay.
Exotic Bets: The Superfecta
If you want to get even crazier and feel you’ve mastered how to bet horse racing, you can always go for the superfecta. This is one of the most challenging horse race bets, but very rewarding. To hit a superfecta, you have to pick the top four finishers in exact order.
A one-dollar superfecta on horses 1, 4, 6, and 9 will only win if those four horses finish first through fourth in that exact order. Boxing a superfecta becomes expensive because there are 24 different combinations. This is like a four-team parlay, but with a couple of the teams being moneyline dogs.
Read the Racing Form And Other Tips
Most horse-betting tracks will have a racing form. Like any sport, if you want to learn how to bet on horse racing successfully, you’ll need to do some research. The racing form is a big part of it. Most forms show past performances, trainer and jockey stats, and details about track conditions.
Like all sports, setting your budget and plan is key to minimizing losses. If you’ve never watched horse racing, watching a couple of races to understand pace, positioning, and race flow is crucial. It may be wise to avoid betting on the favorite horse in large fields as well. Think of it like Nascar, with more cars (horses) clumped together, there could be more chaos.
Betting the Favorites vs. Longshots: When to Take a Risk
If you’re looking into how to bet on horse racing and you’re only planning on betting on one race, you may be looking more at a long shot. Betting on the favorites can be a safe option, but it doesn’t always guarantee big payouts.
Longshots, on the other hand, provide the potential for a much higher payout, but they’re riskier. Experienced bettors often mix their wagers, combining favorites with strategic longshots in exotics like the exacta or trifecta. Understanding track conditions, horse form, and race strategy can help you identify when a longshot is worth the risk.
How To Bet On Horse Racing Like JMark
If you want to bet on horse racing like I do, here’s what you do. Look at the list of horses, and pick three of the best names, or names you like the best. The one that has the best odds to win, bet as a “win”. The next best odds, bet as a “place”. Finally, the third one, I bet on it as a “show”.
I know it sounds like chaos because it’s not based on any of the strategies I’ve given up above. However, it’s the approach I take most often, and it hasn’t lost me much money. While I may not be hitting it big on horse racing, it’s a fun way to bet on the sport while winning some money.
