While betting on horse races, you must remember that the primary objective is to beat the Oddsmaker. There are people who bet on horse racing for the pleasure they derive out of it. Horse racing thrives on people’s bets and when the event is a people’s favorite, it will certainly draw in more bets.
Typically, betting is carried out through Sportsbooks and Bookmakers. These are the people who help you place bets. If you wish to place a bet on a horse race, you can approach these entities, either in person or through online betting sites. A few sportsbooks also offer telephonic bets, wherein you can call them and place a bet.
Basically, the betting process starts with the bettor specifying his preferences. You have to select the horse number that you are betting on. Additionally, you need to mention the type of bet that you are placing as well as the bet amount. Prior to placing a bet, you have to go through the odds offered by the oddsmaker. A study of the odds will help you make a better selection.
There are several different betting options available in horse racing. The options offered by a sportsbook or a bookmaker vary and some of them offer more variety than the rest. Some of the most popular bet types are discussed below:
Daily Double: In this betting type, you win your wager if your selection includes the winner of the 1st and 2nd race. You need to place your wager before the first race starts i.e. the bet for the first and the second race will have to be made before the start of the 1st race.
Quiniela: A Quiniela bet is where you win the wager if your selection finishes either 1st or 2nd in a race.
Quiniela Box: In this betting type, you can select three horses or more. In case two of those finish either 1st or 2nd, you will win.
Perfecta: Like Quiniela, you can bet on two horses. However, the horses need to finish in the order of selection i.e. if you have placed a bet for two horses to finish 3-4, they have to finish 3rd and 4th for you to win the bet.
Straight Trifecta: You can bet on three horses in this type. However, the three horses have to finish in the same order as the selection. For instance, you wager on three horses to finish 4,8,6. The three horses have to finish 4th 8th and 6th for you to win the bet. Trifecta Box and Trifecta key are similar to the Straight Trifecta, although with slight variations.
Betting in horse racing can be a very profitable business. However, you need to understand the basics of betting before you start.