Betting on horse races has been around since the first horse race. Unlike gambling, betting on horses did not face the same stigma in the past. In fact, going to the race tracks and betting on horses used to be considered a social event. At almost every race track, there is a betting station for those who wish to bet on the horses. Many people who are new to betting on the outcomes of horse races lose the bets they make, because they are not prepared, and bet only for the fun of betting. However, betting on horses can be both fun and profitable, and these days, with off-track betting, you can bet from your own home without going to the tracks. Winning a bet on horse races is a matter of luck, as it is the case with every other form of betting and gambling. But, winning a bet on horse races can be a matter of skill, and if you learn how to look for information on the horses, jockeys and owners, and how to use that same information, you can increase your odds of winning.
Different ways of horse betting
It’s very simple to bet on horse races, even if you do it online or over the phone. You place your bet on the horse, and keep a ticket where you have the name of the racetrack, the number of the race, the dollar unit of your bet, the wagering type, and the horse, or horses, you’ve bet to win, place, show, or a combination of bets. Like other sports betting, betting on horses can have different outcomes and these generate different payoffs, depending on the odds and on your bet. As mentioned above, there are several ways to bet on horses.
Betting to win means that if the horse you’ve selected wins the race, you get the win payoff. Place is when you bet that the horse will either win or come out second. You collect a show win if the horse you’ve bet on finished second or third. A combination of the three above is called across-the-board. When you bet across-the-board, you will win if the horse you’ve selected comes either first, second, or third. It’s three bets in one, and if the horse you’ve selected wins, you win the combined amount of the win, place and show payoffs. If the horse finishes second, you collect the combined place and show payoffs, and if the horse finishes third, you collect the combined amount of the show payoff.
Another form of betting is laying a horse – it means betting that the horse will lose the race. Statistically, it is much easier to lay a horse than bet for it to win, so the winnings in this case are lower, and the betting house always keeps at least 5% of your bet, further lowering the amount you will walk away with.
Exotic betting and boxing a bet
Exotic bets come in three forms: exacta, quinella and trifecta. The first form, exacta means choosing two horses to come in first and second. Quinella is basically the same bet as exacta, with the difference that it does not matter which horse of the two you’ve chosen finishes first. Trifecta is when you choose three horses and bet the order in which they’ll finish the race. It’s the most complicated bet, and the most difficult bet to win. Boxing a bet means to box your bet, and increase your chances of winning. It refers to covering all of the possible ways in which you can win. Boxing usually costs the same as you bet, so if you’ve made an exacta bet of $3, you will pay another $3 to box the bet – and you will win as long as the two horses you’ve chosen finish first and second.
How to profit on horse races
Winning and profiting is not the same. Winning on horse races is the first step of making a profit, but if it is followed by a string of losses, then you haven’t made a profit, only had one win among a losing streak. Profiting, on the other hand, means winning bets more often than losing them, and when it comes to betting on horses, it’s possible. It’s 
difficult, especially if you’re new to horse race betting, but it can be done if you know which steps to take and which things you should familiarize yourself with. Betting to win means understanding the difference between fixed odds betting, parimutuel betting and exchange betting. In horse race betting, the most common forms are fixed-odds and pari-mutuel (tote) betting. Fixed odds betting means placing a bet with a bookmaker at fixed odds. Tote betting is a lot different. When you place a bet with a tote betting organization, your bet goes into a pool of bets for the race, and the payoffs are, afterwards, spread among the winners. There are no odds involved, and the amount you will win depend on the race, the amount of bets, the amount of winning bets, and the percentage that the organization (house) gets to keep.
The secret to profiting on horse races
The secret is time, dedication, and patience. You need to be familiar with the horses involved in the race and spend time researching them. There is plenty of information online today, that you don’t even need to spend time at the tracks, or look for information in leaflets or handicapping selections. Emotions and instinct can be your enemies, and your favorite horse will not always win, so you need to be impartial, and decide on a winning horse by a string of factors, like form, weight, trainer and others. You can see more in the video below.
Setting aside money to be used specifically for making profit off of betting on horse races is a good way of taking the emotion out of the betting, as it allows looking at it as an investment, rather than a gamble. Smart betting involves being selective about races, horses, and odds. It involves careful money management, and records keeping – in order to keep track of what works and what does not work. There are plenty of systems that have been developed, whose developers claim to be profitable winning systems, but those might not work for you.
Difference between betting and gambling
Today, betting on horses and online gambling are fighting for popularity. More and more people stop going to the tracks and simply bet online, and people also spend more and more time playing casino games online. Of course, this poses the question of which is more profitable: betting or horses or online gambling? Slot machines are money robbers, in essence, poker, blackjack, and roulette seem like games where you can win and profit – but luck has a bigger role than skill, all the same. Horse betting, on the other hand, can be profitable with skill, patience, and dedication, because you can minimize your losses by careful planning, research and taking rational decisions.