Horse racing is a very old sport and one that has attracted bettors across the ages. Horse racing usually involves two or more jockeys competing in a race on horses to win. In fact, horse racing has not changed much since its inception and the premise remains the same. In fact, horse racing has existed throughout ancient Greece, ancient Rome, Persia, Egypt, Babylonia, etc. The objective of each race is to see which horse and rider are the fastest. For the longest time, horse racing as a sport and betting event was reserved for the aristocracy. Today, more people are betting on horse racing than before. Betting on horse racing has since grown into an industry of its own. As of 2008, the entire horse racing market was estimated to be worth more than $115 billion.
Beginner Guide To Bet On Horse Racing
We take a deeper look at how punters can bet on horse racing by identifying the various types of races, the types of breeds participating, the jockeys, betting markets such as handicap, adopting horse racing betting strategies, and more:
1. Some Races Have Particular Breeds
Most horse races are races between a specific type of breed or breeds that can compete. Some races strictly allow only one breed to race in some competitions to see the fastest horse in that breed (everything else remaining equal). For example, standardbred horses are used by racers that need to incorporate a harness into their riding. Thoroughbred horses are used by racers specifically for racing. Arabian horses are not only stunning creatures but are also made for endurance and speed over long distances. Quarter horses are much better for short and fast races, unlike the Arabian that can race fast and long distances.
2. Different Types Of Races
A punter has the option of betting on different types of races in terms of the length or distance of the race and features of the race. Examples of different races include obstacle races, endurance racing, different running surfaces (lawn, turf, mud, etc.), a mile, a mile, and 1/4th, a mile and 1/8th, a mile and 1/16th, etc. Moreover, different types of horse breeds and jockeys perform differently based on the type of race, location of the race, the type of horse, distance of the race, etc.
3. Handicapper
A handicapper chooses horses based on how they performed in the past and assigns corresponding weights on a handicap match. Punters can bet on a handicap betting markets online where different horses have different weights assigned to them. This makes the race more interesting than it would have been otherwise. In some cases, a punter can spot an opportunity if the weights assigned to a horse and jockey are too high or low and capitalize on that opportunity.
4. Horse And Jockey Stats
Another important and overlooked component is looking at the horse statistics as well as the jockeys. Statistics don’t just incorporate past wins, but also takes into account win percentages, loss percentages, head-to-head matchups, wins on a circuit or race, recent results, odds for different racers, etc. For example, during the lockdown across the globe induced by COVID, horse racing was one of the very few sports that was allowed to continue (HK and Australia) and punters across the globe were drawn to the sport out of the limited availability of live sporting events and betting events as well.
5. Adopting Strategies
It’s essential that a punter who wants to become a professional and bet for the long haul learns to try, adopt, and adapt strategies that suit the punter. A strategy will help a punter stick to a framework when betting so that they don’t go all-in on one bet, bankroll management, types of bets placed, etc. Most punters tend to place wagers on the biggest events such as world championships, Derbys, etc. And these very same events are the hardest to predict, yet most punters try and place a wager in these races.
In some cases, a punter is only allowed to bet using a Parimutuel system. In a Parimutuel system, all the different punters pool their money together into a single wager. The winners of the wager split the winnings proportionally after a deduction is made.
