subject: The Basics of Horse Racing Betting [print this page] The Basics of Horse Racing Betting The Basics of Horse Racing Betting
One of the most common and popular gambling that bettors would love to indulge is the horse racing betting. The whole betting stuff together with the thrill and excitement of the game captures the spectators' attention and interest.
In order to have an edge of this betting game, the gambler must have a background of this sport. Same with other sports betting, knowing what the game is all about is very vital. Aside from the basic knowledge of the horse racing itself, the gambler must learn the betting methods and strategies and combine all of these to put it in a system. Luckily, horse racing betting is a skill. And just like any other skill it can be acquired thru study and practice.
One must know and understand the basic rules not only for fairness sake but as observed, most of the victorious bettors know the procedure inside and out. So primarily knowing the basic ways on how to play the betting would serve as your foundation knowledge. Ideally picking of horses must be done before the race starts or when all bets are off. Betting must always be done prior to the start of race. Once the bet has been accepted it cannot be amended or cancelled. Updating of racetracks is done within 20 minutes to one hour and the accounts will be updated as well. Stakes made on an entry will be considered as an active wager and no bets will be accepted after the race has started. No payoffs can be determined prior to the start of the race and therefore the payoffs cannot be given until approving of readback is done.
For some events where races are suspended, run under a protest, or when there are race result reversals, amends on scores or overturned race or decisions, the situations will not be recognized for horse betting purposes.
The usual main objective of this gambling is to beat the oddsmakers' or otherwise known as odds compilers'. These are the people who set the betting odds. However, placing bet on your favorite event will add up to the excitement of the game. The bet can be placed using a physical or online sportsbook or you can even place bets over the phone. The sportsbook simply accepts sports bet but it doesn't set the odds. Setting the betting odds is the job of the oddsmaker.
Stating the bet is done thru making a selection depending on the odds offered. The type and amount of bet you are going to make must be stated as well. It is better to examine first the odds offered before you are going to make the selection.
There are plenty of bets that one can place. Among this common types of bets are straight bet, place, show, combination bet, pick three, pick six, quinela also known as reverse forecast, perfecta or exacta, superfecta, daily double, jackpot, future, daily double and among others. These types are readily available for bettors to choose whatever type that would suit them. A lot of sportsbook even offer different betting varieties and combinations laid down to punters for a sure win in horse racing betting.
