There is hardly a sport in the world with more profit potential than horse racing. It’s no surprise, then, that the number of markets available to bettors when it comes to the sport is very high.
Many of the leading sportsbooks typically cover all of the markets that bettors would expect to find, while even those with fewer options will still cover simple horse racing markets.
Exacta
Exacta bets will require bettors to predict the first two horses to cross the finish line in the correct finishing order. Therefore, if you pick a horse to finish first in the Exacta and it is second only to the horse you placed in that position, the bet will be lost.
However, the bettor can also choose to place a bet on the Exacta Box, which will cover all possible finishing positions for the selected horse. This option also allows the bettor to select more than two horses, but the payoff will be calculated from the winning horse and its odds.
Straight bets
According to TwinSpires, the most common way to place a bet on a racing event is with the straight betting option. Winning markets are the most common of these, where bettors can place a wager on a horse and if the selection is correct, the reward will be awarded to your account.
Meanwhile, place betting is another very popular option amongst punters as this will allow bettors to place a bet on the option that will finish in the first two or three depending on the size of the field.
Overcome
The Exotic associated with the final standings is the Superfecta. this is a bet that requires a lot of preparation as the bettor needs to correctly predict the finishing order of the top four finishers. It only pays off if the bettor successfully predicts the winner, the runner-up and the horse that happens to be in third and fourth place.
However, there is a Superfecta Box option where the bettor can choose at least four horses to finish in any order. However, the payoff is awarded based on the final odds of the entrant.
Parlay Betting
Parlay betting is particularly popular with basketball, American soccer and hockey bettors. However, it can also be very lucrative for horse racing players. Here, bettors can select at least two horses together for a longer bet, but all selections for the parlay bet must be correct in order to reap the rewards from the bet.
Another option that has proven very popular with horse racing bettors is offered on offshore sportsbooks, as Lucky 15s covers a wide range of market selections. This bet will include four options and each line of $1 bet will cost $15, covering all possible bets. This means that if only one horse wins, the bettor will be paid out, along with all possible doubles, triples and quadruples.
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General Horse Racing Rules
As with most sports, there are specific rules for horse racing betting. One key factor that bettors should be aware of is that if a race is suspended, the bet will be voided. Some sportsbooks will also refund selected bets if they are declared non-competitors after the announcement.
Bets will not be settled until the official announcement is made after the weigh-in. Finally, the minimum and maximum bets depend on the sportsbook you are playing at.
Horse Racing Betting Tips
Unlike other sports, bettors must research a great deal of information before placing a bet on horse racing events. This includes looking at the form of all the participants, checking if they are on a long winning streak and if their best form occurs over a certain distance or on a particular track.
Extra attention to detail should also be paid to jockey and trainer form; a good connection is likely to continue their winning habits. Finally, each runner’s data should be checked, as those with reliable data on course and distance may be more likely to repeat their performance.