If you’re just starting out on placing bets online on Horse racing events at sportsbooks, you might get intimidated and confused on how to get started. But using some basic how to bet online on horse racing information, you can become a good bettor in a short time.
How to Bet Online on Horse Racing
Five Categories of Horses
Before you start placing wagers, it’s recommended to know the five different categories of horses:
- Fillies – Female horses aged up to four years old
- Colts – Uncastrated male horse aged four years and above
- Geldings – castrated colts
- Mares – Females with age five years above
- Horses – Group of uncastrated males ages five years above
A horse racing event are made even more competitive by setting weight categories based on the above information. For example, a horse which hasn’t won any of its last races can be allowed to carry less weight in its saddle cloth. Novice jockeys horses carry less weight, so do Fillies racing against colts or geldings. Male horses can’t be entered on a race for fillies, but fillies can join male races. The weight of the saddle cloth is determined by the weight of the jockey.
How to Pick Bets
If you’re betting on a land based venue, you’re given a copy of the racing form. This form contains information about the horses past performances. Luckily, today at online sports betting sites, there’s an online version of it.
You can handicap a race before placing wagers, however you will need to make thorough study and research.
Aside from the basic win bet, you can also do exotic bets. This type is riskier but pays punters greater returns. Because of the huge returns exotic bets offer, punters usually risk only a small amount to receive substantial payout. Here are some of exotic bets you might encounter:
- Duet: Punters win if they successfully predicted two horses from the top three places.
- Daily Double: Punters select each winner from two races selected.
- Exacta: A bet where you pick two horses, if you have successfully predicted the first and runner-up in order you win.
- First Four: Choosing the first four place getters in a race on a correct order.
- MultiBets: Bettors choose multiple selections across multiple races using only a specific wager type (win, place or each-way). Winnings from the first event are placed on the second and so on for each multibet leg. If the punter won all the bet in each event, they receive the total returns from the final wager.
- Quaddie: Punter chooses winner in each of the four events.
- Running Double: Punters have to consecutively predict the winner of two race events.
- Trifecta: Punters must successfully predict the top three places in order in a race to win in Trifecta.
Fund Your Accounts
Now you know how to bet online on horse racing, don’t jump right in horse racing betting, make sure that you have funded your accounts. At the betting site, you can easily find a race you want to wager on. Most sites display a list of race events that day, so that you can choose and view the upcoming events.