How to Bet on Horse Races for Beginners

Horse racing is one of the most exhilarating games out there. They are often used as an opportunity to earn a few quick bucks by the players. If you are also interested in this game then you will be pleased to know that these days you don’t need to go out in the sun to bet on horses, you can do it from the comfort of your home by trusting online horse race betting.

But before you try your luck, you should have a look at some basic fundamentals and some tips that will help you to increase the chances of a win.

?How do odds work in horse races

Odds means the chances one horse has of winning a specific race. Usually, they are expressed as two figures, and they have a forward slash in the middle. An example can be 7/1. If the odds are lower, the chances would be high that a horse would win. But the money you get after the win would be quite low.

For instance, a USD 1 bet at 4/1 that wins will give you returns of USD 5. This number is calculated by the money you put and is multiplied by the odds, 4 in this case. So, 4 plus 1 is 5. In contrast, if you put USD 1 on 100/1, you have the chance to earn USD 101. But simple logic says that 4/1 odds horse has more chance of winning than 100/1.

Betting Types

If you are a beginner, you should try only two types of bets, each-way and win. The former is less risky but a bit complicated but the latter is placed at full odds. Win bets work in the way mentioned in the last section while each-way bets work in the following manner.

Basically, each-way bets are two bets in one. Every each way bet will cost USD 2 in which one dollar would be a win bet while the other dollar would be a place bet. The place bet will back a horse to come as a runner-up and will pay out at fractional odds. It is usually ¼ of the full odds.

If your horse wins, both the bets will be honored, but if the horse loses, you will lose the money placed on win bet but win something from the place bet.

In cases where odds are less than or equal to 7/1, you should explore other betting options than hoping for returns on low odd horses by opting for an each-way bet.

Some Tips to Be a Winner

If you hope to be a winner in online horse race betting, you can try the following tips.     

·         Read the rules of the website you have selected to avoid breaking any and paying the penalty later on.

·         Connect with other experienced gamers or read expert opinions on how to increase your chances of a win.

·         In case you don’t mind losing or you are playing with money you can afford to lose, you can simply try your luck and bet on a horse that has your favorite color or number. You can never know when your luck will shine.

·         Last but not the least, you should stop playing if you lose all the money you sidelined for betting and never risk addiction or your finances by being greedy!