Set a betting budget
In order to ensure you do not lose a substantial amount of money while betting on a horse race, plan how much you are willing to spend on the race. Consider about what type of bets you would like to place and how much amount of risk you are ready to take. Bear in mind that the minimum bet is $2 for the most basic wager.
Remember to place your bet at the betting window if you are at a racetrack
Approach the betting window and let the clerk know the number of the race you are betting on. Tell the clerk how much intend on betting, the type of wager and the number of the horse as it is listed in the program. Remember to check your betting ticket before you leave the window to correct any mistakes that may be on it. Automatic tellers are available at certain racetracks as well.
You can place a bet online if you want to bet from home
With the advent of technology and the internet, it is now possible to bet on horse races through accessing online sites that avail advance deposit wagering. Remember to read the rules and regulations of a website and register to be able to place a bet. Look up for a site that provides free video streaming of the horse races and don’t require a sign-up fee or wagering fees for each bet.
Make a straight win wager
A straight win wager is regarded as the easiest and simplest bet to place on the racetrack. However, the odds of winning a win wager are average.
Bet on your horse “placing” or “showing.”
Tend to place a bet on your horse “placing” which means either winning or coming in second which is bound to increase your odds of winning. The pay-out will be less, and the risk of losing is much smaller. If you wish to make a bet safer, bet on your horse” showing” which means you are eligible for a pay-out even if it comes first, second or third.
Place an “across the board” bet
When you are feeling confident, you can place an “across the board “bet which are essentially three bets in 1. It is generally three times more expensive than “win,” “place,” or “show” bets since you are betting your desired horse to win all three places. If you do win, you are liable to get money from all three debts.
Make an exotic wager
Exotic wagers involve multiple horses in particular situations. Often, these bets are 3 or 4 times more expensive than simple bets and have lower odds. However, they do hold a more substantial payout if you win. Choose your bet carefully and only go through with it if you have sufficient cash to handle a likely loss. Some examples of exotic bets are:
- Quinella bet which requires tour horse to finish first and second in any order
- Exacta bet needs your horse to complete first and second in a desired specific order
- Trifecta bet demands your horse to win first, second and third is your desired particular order
- The daily double bet is where your horses must win two consecutive races on the same day
- Pick three race is where your horse must win three straight races on the same day.