The online betting world represents a sphere that can offer many opportunities for earnings on the fast track. This is not just a plain statement, but a proven fact.
And it is not a coincidence that there are many bettors every year that decide to try their luck. However, not many of them are aware that horse race betting is one of the most profitable betting options out there. That is why, in this article, the Brokerstorm team will provide you with some tips if you are a beginner in the horse race betting world.
Step I – Use the Straight Wagers
To get to know the horse betting races, the Brokerstorm expert team recommends starting with the straight wagers, which means you bet only on one horse.
The options are “Win” in which you bet on your horse pick to finish on the first place which means if the horse wins, you collect a winning bet.
The second option is “Place” which means you bet on your horse to “place,” you’re betting that he will come in first OR second. If the horse finishes the race 1st or 2nd, you collect a winning bet. However, it is important to emphasize that payout for a place bet is less than a winning wager. Yet, is a good option for a rookie bettor because it gives the security of being able to cash in if your horse finishes in the top two spots.
The third straight option is “Show” which means that you are betting that your horse will come in first, second, OR third. This hedging of your bets gives a higher chance for winning bet. However, the payout for a show bet is significantly less than a win or place wager.
Step II – Combine the Straight Bets
The second notable advice is to use certain variations. First and foremost, you can bet “Across the Board”, which means you’re betting your horse to win, place, AND show.
Also, known as the “combo straight wager”, this option includes three different bets (win, place, AND show) in one. Because this concept includes three bets in one, it more expensive. For instance, $5 across the board wager will cost a total of $15 since you are making three $6 bets. In turn, if your horse comes in first, you get the win, place, and show money. In case your that your horse ends the race 2nd, your wins include the place and show money. Also, in case your horse ends the race on the 3rd place you just get the show money.
Nevertheless, these wagers sometimes are not a good option since they are expensive and have less profit potential.
Another option is the so-called Win/Place, Place/Show. To be more specific, in win/place bet, you’re betting your horse to win AND place. Which means if your horse wins, you collect both the win and place money. However, if the horse finishes second, you collect just the place money.
As for place/show bet, you’re placing a wager that your horse will place and show. This means that if your horse finishes second, you collect the place and show money. Or if your horse pick finishes third, you just get the show money. This means also that this betting option is more expensive as you’re placing multiple wagers on your horse in a single bet. For instance, a $5 win/place bet will cost you $10. Nevertheless, it is imperative to make the needed mathematical calculations before placing these kinds of wagers or horse races.
Step III – The Exotic Wagers ( Exacta, Quinella, Trifecta)
The so-called exotic wagers are probably the final frontier in the horse race betting world. These type of wagers enable you to bet on multiple horses in a single bet. This concept is also allowing you to increase your profit potential. However, the reality is that they are significantly harder to win and you will require a lot more betting experience, skills and knowledge in regards to handicapping horses. Therefore, the best approach is to learn your trade with the straightforward bets at first and slowly move to these more complex wagers.
The Bottom Line
All in all, the prospect for earning serious money on horse race betting is enormous. And it is no coincidence that there many people that enter this betting world daily. However, it is from crucial importance to follow these Brokerstorm horse betting guidelines if you are new in the horse race betting.