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How to Bet on Horse Races: A Helpful Guide for Beginners

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More of the world is moving online for experiences that are no longer available live, including horse racing.  

For the foreseeable future, horse races will still happen but without stadiums filled with spectators and eager gamblers. While you can’t attend live, you can still watch, and more importantly, you can still bet. For those who know how to bet on horses, the pay off can be considerable. 

If you are trying to learn how to bet on horse races, you are in luck! Check out our guide here on the key things to know and do.

How to Bet on Horse Races: The Basics

First, you want to have an understanding of the different types of bets available. Some are riskier than others, but with higher risk comes bigger payoffs. If you know what you are getting into, then you can have a better idea of what risk level and betting style suits you.

There are two main types of wagers: straight and exotic

1) Straight Wagers

These wagers include the ever-popular win, place, or show bets. Straight wagers mean you are betting on a horse to finish in one of three ways:

  • Win: Just as you might imagine, a win means your horse comes in first.
  • Place: This means your horse comes in first or second place.
  • Show: This means your horse comes in first, second, or third place.

The biggest payout comes with a win, place and show following suit.

One of the most common ways to add some diversity to your straight wagers is to bet across the board. You can bet that a single horse will finish in either first, second, or third, and you win more money depending on the results. Use an across the board bet when you have a lot of faith in your horse but still want to hedge your bet a little.

2) Exotic Wagers

Here is where it gets interesting. Exotic wagers allow you to bet on multiple horses in different, funky combinations. Here are just a few examples of some of the popular types of exotic wagers.

  • An exacta lets you bet on two horses to come in first and second. To win, your two picks must finish in the exact order, hence the name.
  • A quinella allows you to choose two horses to come in first and second places in any order.
  • A trifecta is similar to an exacta, but with three horses. 

Other exotic wagers include the superfecta, daily double, and pick 3/pick 4. Learn more about wagering on the biggest horserace of the year at Kentucky Derby online betting.

Some Things to Remember

When gambling, remember to set a budget and study the odds. Research on your own and use the guides available at your online gambling site of choice.

For those who know how to bet on horse races, knowledge and budget are essential for long-term success. With online gambling sure to increase in popularity, there’s nothing stopping you. Now go out and win some money!

Read our other blog posts for more essential life guides.

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