Horse Racing Betting Guidelines for Winning Wagers

Do you want to win money at the horse races? If you’d like to be able to go to a horse track or off track betting parlor and cash winning tickets, here is some advice. First of all, there are no guarantees in life and that is particularly true at the horse races so never gamble with more than you can afford to lose. Wagering on horse races is extremely risky. On the other hand, it can be thrilling, exciting, fun, and sometimes even financially rewarding.

If you’re new to betting on horse races and you’d like to give it a try, and you don’t have any friends to help you, you can often find a simple betting guide in the racing program sold at most race tracks. There are many ways to bet on a horse race, but the simplest bet and often the best one to make, is the straight win bet. Betting to win is the first place to start.

Once you have acquired some skill in evaluating the horses and determining the chances of each one winning or finishing in second place or third place, you can try some exotic bets such as exactas and trifectas, and maybe even a pick three. For now, however, stick with the win bet.

If you’re going to wager on horse races you should have some understanding of the odds. The odds for each horse are on the tote board in the infield of the race track and often also on television monitors throughout the track. Be careful when using the monitors, however, because some race tracks simulcast races from other tracks and you may be looking at the odds for a race at one of those simulcast tracks.

The odds are determined by how much money cricket tickets adelaide is bet on each horse to win. As a general rule, the odds are a good predictor of each runner’s chances of winning, minus the money that is taken out of the pools to run the track and pay the state. The takeout, or vig, as it is sometimes called, varies but is usually between 15%-20%. Let’s say the vig is 20% at the race track where you are betting. IF the bettors wager $10,000 to win on a race, the people who hold a winning ticket will share $8,000 between them based on the amount they bet.

The odds on each horse tell you what each bettor will get. For instance, if the minimum bet is $2 and the odds on the winner are 2-1, each $2 win ticket will be worth $6. That’s because you get back 2 times your bet of $2 plus you also get back the actual amount of money that you bet. If you bet $10 on a horse and it wins at 2-1, you get 2 X $10 = $20, plus the $10 you bet for a total of $30. Therefore, at odds of 2-1, you triple your money.

The favorite, also known as the chalk, is the horse with the most money bet on it and therefore, the lowest odds of all runners in the race. Favorites usually win about a third of the time, which means, of course, that they lose about two out of three races. No other horse in the race, based on the post time odds, is as likely to win as the favorite, therefore, it is the single most likely horse to win. Does that make it a good bet? Even though they win more than the other horses, because they are bet down and you must also pay the takeout, favorites are not a profitable wager.

The only way to make a profit betting on horse races is to be lucky and/or become a skilled handicapper.