The Different Types Of Racing Systems

Horse racing systems may possibly be as old as the sport itself

. It is not for nothing that racing horses has long been called "the sport of kings" for it takes a lot of money to own horses - and to bet enjoyably on them. Sure it's possible to put down really modest amounts in today's races, but that would be like going to a five-star restaurant just to have a glass of water.

After all, popular though the pastime is, it is worth a hundred and fifteen billion dollars worldwide, a sum unlikely to consist entirely of small wagers! Hence, along with this noble equestrian sport has come different racing systems created to improve one's odds. In the United States, betting on horse races is governed by the individual states in which the racetrack is located.

Cross state lines, however, and there is remarkably little oversight, as interstate commerce is really a federal responsibility and apparently not one that preoccupies Washington too much (after all, they hardly bother with illegal immigration). Thus have companies sprung up to simulcast betting across state lines, largely without any oversight except for wider statutes on gambling in general.

Thus the numerous racing tips, born of the social phenomenon of parimutuel gambling (from the French for "mutual" gambling) in which all bets are pooled together, with a house take removed immediately before calculating payoff shares. In a typical example, seventeen percent is withheld and eighty-three percent returned in the form of winnings.

As with all games of chance, the mathematics of probability is intimately involved, with nuances exploited by those with an understanding of the details. Modern technology aims to make it even simpler, and software exists which purports to help handicap a race with the least amount of user input possible. Interestingly, such computer-assisted handicaps don't dampen the excitement of a bet!

by: Saul Goodman

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