Betting on horse races involves considering the type of bet, with straight up bets being the most common, and exotic bets offering bigger payouts. Parimutuel betting groups bets of a certain type and payouts are based on the amount in the pool. Betting on a horse with middle odds may provide a good return on investment.
While betting on a horse race can be a good way to get some extra cash, there are a number of things to consider when considering the most appropriate choices. For example, betting on the favorite is often not the best bet to make. Whether or not the favorite wins, there are many other bets and ways to make money when betting on a horse race.
The first thing to consider is what type of bet you want to place. The most common bets are straight up bets, such as bets to win, place or show. A winning bet pays off if the chosen horse wins the race. A placed bet pays if the horse places first or second. A show bet pays if the horse places third or better. If you bet on a horse and place first, the person placing the bet will receive a smaller return than the person who bet on the horse to win.
The other types of bets to consider when betting on a horse race are called exotic bets. They run the move of choices. An exact bet is a bet intended to predict horses that finish first or second in that order and is the most common type of exotic bet. A quintella bet predicts the horses finishing in the top two positions, regardless of order. A hat-trick predicts the top three finishers in exact order. A super perfect predicts the first four in that order.
Of course, the harder the bet, the bigger the payout. Therefore, it may be that a win per day on the track on an exotic bet can very quickly put a gambler ahead. These are very profitable, but very difficult bets. In some cases, bets on one horse race become bets on multiple horse races. Some tracks will offer bets such as a day double, where players can try to pick the winners of two selected races. In other cases, it may be possible to pick the winners of more than two races.
Betting on a horse race is often made through the so-called parimutuel betting system. This groups all bets of a certain type into one entity. Once you do, payouts are based on the amount in that pool, minus a cutoff for the track. In some cases, a horse may be so heavily favored that if he wins, the track may actually lose money. However, in these cases, the payouts are usually very low.
Therefore, many who are looking to make a living on the track may try to pick a winning horse that is in the middle of the odds, such as 8/1 to 14/1. This will provide a good return on investment should the horse win. Choosing horses with lower odds may increase your chances of winning, but if you lose, it will take longer for you to regain those losses.
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