Horse Racing Betting Guide

Betting on horses has been in demand since the early ages. Some believe that horse betting (totalizator) was one of the first popularized betting options. The sport was formalized in England and then spread around the world. Nowadays, racing is available to watch and bet online in different formats. However, it does not matter if you want to bet on real horses on the track or dive into virtual horse racing, it is still vital to learn the betting principles, study the concepts of betting markets, know how the odds are formed, and what strategy could be used for this or that type of event. Our editorial team of betting experts creates incredibly detailed posts with betting instructions for each sportsbook, sports discipline, market, type of bet, and more. Open the variety of useful articles with our full guide to sports betting. 

How to Place Racing Bets 

Although horse racing remains one of the oldest forms of betting, there are numerous sportsbooks that allow you to predict which pony will take the lead in the race. Different bettors prefer different methods of picking racehorses. Some base their choice on the lucky number, while others may use the horse’s favorite color or name. However, there are also bettors who know the history of each animal, have analyzed previous races, and know which horse has an advantage. All you need to place your bet is to open the sportsbook, find the section with horse races, and choose your favorite ponies. 

In addition, this industry is growing towards faster bets, which allow you to predict the simulated races on the virtual field. In this case, your winnings depend on the luck of a random number generator that actually takes into account the performance of the horses. This option is for people who like to gamble but love the concept of running horses instead of familiar slots or table games. 

Best Horse Racing Betting Markets 

It is not always about predicting the winner. The horse betting industry is quite diverse, allowing punters to choose from different types of bets. It is possible to combine several outcomes or create your own set of bets by having several racers instead of one. In general, betting on animals differs from betting on football with hundreds of markets. However, this sport still offers you a solid choice. Check out the common ways to place your bet. 

Moneylines 

A simple wager on the horse to win. When betting on moneyline, you expect your horse to come to the certain position you choose. It is not only about the chosen animal to finish first. It is about the first horse to finish, second, third, or first and second, or any other combinations. The principle is that your horse(s) end up the race as you determined. Modern sportsbooks support several ways to bet on ponies:

• Win Place Show. This is the standard single-horse bet where your task is to predict which horse will finish first, second, or third. For example, your task is to predict at what place the number 8 will finish. Only one animal is taken into account. However, the bettor can use a hedging strategy by choosing all two or three options: (win and place) or win, place, and show. Your horse must finish in the top 2 or top 3 for you to win the bet.  
• Exacta. More enthusiastic bettors can increase their winnings by placing an Exacta bet. Let us say you want to bet on two ponies at the same time. In an Exacta bet, both of them must finish in the exact order you determine before the race. For example, you place an exacta bet on (name of horses) 1-2. This means that the first one must finish in the first position, and the second must finish in the second position.
• Trefecta. For extreme betting enthusiasts who love the biggest risks and highest payouts, Trefecta is the choice. This is where the exacta bet goes to the max, where you pick the exact finish of three horses. The ponies must finish the race in 1st, 2nd, and 3rd place (in that order only). If one finishes in a different place, you lose the bet. However, there is also a trifecta box where the order of the three horses does not matter. The only requirement is to predict three racers to finish in the first three places. 

Futures

In case the tournaments take place in different days with qualifiers and finals, then you can place a future on the horse to win the race in advance. The biggest odds are offered because the animal must qualify and win the final for you to win. On the other hand, if you bet on the same day of the race, you already know which horses have qualified for the finals, and the probability of them winning the tournament is higher.  

Prop Bets 

These bets have nothing to do with the outcome of the race, which animal finishes first, second, etc. Instead, prop bets allow you to bet on any event that may occur during the race. For example, you can bet on the winning time. In other words, how long the race lasts. You can also bet on the winning jockey or the winner of the “Hat contest.” You can also bet on which horse will not cross the finish line or which will fall.  

Popular Horse Racing Events 

Now you know what bets are common for this type of race. It is time to explore the available tournaments that take place in the world. Yes, all the sportsbooks that feature horse racing show the popular events that are pretty familiar to more-or-less experienced bettors. But do you want to know more about the biggest and the most special horse racing events? Let us cover this topic as well.

Woodbine Mile 

A one-mile race will be held on the new race track in Toronto, Canada. The annual race at this stadium gathers millions of viewers and bettors. Thankfully, online bookmakers accept bets on this race, allowing us to watch this spectacular event and have a chance to hit some excellent winnings. 

Melbourn Cup 

Another exciting horse racing event takes place every year on November 2nd in Melbourne, Australia. This is an iconic day not only for Australians celebrating a public holiday but for all racing enthusiasts. The Melbourne Cup is one of the oldest, having been held since 1861. That is why it has trainers and jockeys with a long history. The beauty of betting on this race is the odds and the variety of ways to place your bets.  

Belmont Stakes 

June 10th is a day when thousands of sports fans gather to experience the incredible festival of horse racing. The Belmont Stakes is known for the all-time greatness of Seattle Slew, Man O’ War, Citation, Secretariat, Ruthless, and others. This race tests all the work you have done before the race and shows only the champions. We punters can make predictions on all the horses using any betting market you want. 

Kentucky Oaks 

The best day of the year for American horse racing enthusiasts is the day the Kentucky Oaks race starts. It is one of the oldest races in the world, dating back to 1875. All the participants train for a whole year to come to this festival and show real results. The motivation for previous years has been over a million dollars. Millions of dollars are wagered on the Kentucky Oaks races, and thousands of people visit the stadium to watch one of the most spectacular events of the year.  

Grand Nations 

Moving back to the oldest horse European races in the world, Grand Nations held the first race in 1839—yes, almost two centuries ago. Nowadays, it takes place in Liverpool, England, on the legendary Aintree Racecourse. This event has significantly impacted the whole British culture, populating this event in all of Europe and then the whole world. The Grand Nations race takes place in April. Bettors can experiment with common betting markets, such as Exacta, Trifecta, Futures, and others. 

Betting Strategies 

Regardless of your experience with the sportsbook, when it comes to betting on horses, you should take various techniques into account. Below, we have prepared a few points from our online betting strategy. 

Value Betting 

The techniques of value are accessible to experienced bettors, as they require you to understand the odds perfectly. The idea is to identify horses that have an advantage over the stated odds. In other words, if you know that the horse has a higher chance of winning in comparison to the public opinion, you may get some increased profits. For that, pay attention to many factors, including the trainer, jockey, statistics, and more. 

Bet on Several Horses 

This strategy is called “Duthing” when you diversify your bet with multiple horses. A good example of this is betting on exacta boxes or picking a few selections. In boxes, you combine a few different ponies that must finish in the first three places, in comparison to an exacta bet where the order is predetermined.  

Study the Horse Performace 

The basic part of any totalizator is to analyze the performance of all animals in the race. To do this, study the previous races, and take into account the jockeys’ abilities, as well as how well the horse performs on different tracks and at different distances. Also note the conditions and involvement of trainers of each horse, as well as racing patterns and track conditions.  

Pros and Cons

The interest in sports betting comes with the desire to win some money and add spice if you monitor the results of this or that competition. In comparison to other betting disciplines, horse racing brings diverse experience in terms of betting options. Check below why this sport attracts millions of players and why the competitions feature such huge prize pools.