Horse racing is one the oldest forms of sport. History is full of evidence that competitive horse races were held, some dating back to 700 BC. While the sport has evolved over time, the fundamental principle of the sport has remained constant. It’s still incredibly popular and is considered a major sport in many parts of the globe.
It is possible to partially attribute the popularity of this sport to its association with gambling. Horse racing and gambling are intrinsically linked. Betting on the outcome of races has been an integral part of any day at the racetrack. It doesn’t take a lot of time to place a bet on the races. Bettors all over the globe regularly place bets on races with off course bookmakers. This has been made much easier by the advent of online betting and the introduction of betting sites.
Horse racing is dependent on betting for its funding. Horse racing is dependent on sponsorship and prize money. The majority of this money comes from the gambling industry. Without the financial support of bookmakers, most racetracks wouldn’t exist.
This guide was created to assist anyone who is interested in horse racing betting. We have provided important information about horse racing and details on how you can bet. We provide information on all of the possible bets and give advice on picking winners. You will also find information about the most important horse races around the globe and details about all major racing venues.
Horse Betting Odds Explained
Horseplayers who are regulars will always be aware of the odds that the horse they support will win. The odds determine the payouts. The tote board displays the odds on a large display. Initial odds are set by an employee at the track who handicaps each race and assigns a fair value.
Wagering Odds and Money Bet
It is easy to calculate the win odds for each wagering interest. Simply take the total pool less takeout ($850), and divide it by the horse wagering amount.
Take $850/$110 for the 1-horse. This is equivalent to $7.72. The bettor would get $7.72 for every dollar wagered on the 1-horse. This includes the $1 wagered and $6.72 profit. The odds are always expressed in fractions on the tote board. In this instance, the 1-horse would represent 6/1. If the bet was successful, the bettor will be pleasantly surprised to make 72 cents.
Find a Comfort Level with the Odds
It is important that a bettor has a good understanding of how the odds are calculated before they can determine if there is a fair value for their bets. Betting odds are fluid and cannot be fixed until horses enter the starting gate. Many bettors prefer to monitor the movements of the odds until post. Because odds can change dramatically depending on the flow of wagering dollars into the pool, it is important to understand how they work.Last Updated on November 18, 2021