How to Bet on a Live Horse Race
Three Methods:Getting Betting InformationChoosing a HorsePlacing a WagerCommunity Q&A!
Steps
1
Getting Betting Information
- 1Purchase.
- 2Buy a Daily Racing Form to read about past performances. Daily Racing Forms (DRFs) are produced by the racetrack to offer more information about the day’s contestants. Purchase a DRF at the betting counter, which will provide you with records of past performances as well as handicapping. DRFs normally cost about $4 USD.[2]
- Daily racing forms also include detailed articles about horse racing.
- DRFs are produced daily, and are written specifically about the day's contestants.
- 3Check a local newspaper for handicapper selections. Some newspapers cover events at the local racetrack. Check a local newspaper for handicappers’ selections, which are sometimes published. Professional handicappers analyze the odds of a race to produce predictions about the outcome.[3]
- Alternatively, racetracks often sell handicapping tips sheets for about $2 USD.
2
Choosing a Horse
- 1Look at the horse’s odds of winning. Look at the estimated odds of each horse winning the race. This will appear as a large number printed next to the horse’s stats. Check out the horses’ race records for a better indication of their winning ability.[4]
- For instance, good odds for a horse might be 3-1 while long odds could be closer to 15-1. That means that the first horse has a 25% chance of winning, while the other horse only has a 6.25% chance.
- If you bet $2 USD on a horse with 3-1 odds, you will win $8 USD. If you bet the same amount of a horse with 15-1 odds, you will win $32 USD.
- 2View.[5]
- 3Check.
- 4Keep. Alternatively, visit the track from time to time without betting to see how the horses are performing.[6]
- 5Look up racehorse pedigree information. A horse’s genetic background may suggest that they’ve inherited a winning characteristic, such as speed. Look up handicapping charts and pedigree information online to see if a racehorse is descended from other winning horses. A strong pedigree is a telling indicator of a horse’s performance.[7]
3
Placing a Wager
- 1Set a betting budget.]
- 2Place your bet at the betting window if you are at a racetrack. Go to the betting window and tell the clerk the number of the race you’re betting on. Tell them how much you are betting, the type of wager, and the number of the horse as it is listed in the program. Be sure to check your betting ticket before leaving the window to correct any mistakes that might be on it.[9]
- Automatic tellers are also available at some racetracks.
- 3Place a bet online if you want to bet from home.]
- 4
- 5Bet on your horse “placing” or “showing.” Place a bet on your horse “placing” (i.e., either winning or coming in second), which will increase your odds of winning. The payout will be less, but the risk of losing is also smaller. To make the bet even safer, bet on your horse “showing,” which means you will get a payout if it comes in first, second, or third.[12]
- 6Place an “across the board” bet.]
- 7Make an exotic wager. Unlike “straight” wagers, “exotic” wagers involve multiple horses and very specific situations. These bets are often 3 or 4 times more expensive than simple bets and have lower odds, but hold the potential for a larger payout if you win. Choose your bet carefully and only go through with it if you have enough cash to handle a likely loss. Some examples of “exotic” bets are:[14]
- A “quinella” bet, where your horses must finish first and second, in any order. This is the simplest “exotic” bet to place.
- An “exacta” bet, where your horses must finish first and second in the specific order you choose.
-. This is essentially a “daily double” plus another didn't cash in my tickets - how can I find out if they are good or not?wikiHow ContributorUsually tickets expire after 12 months. Credits don't expire. You can look up race results online, or go back to track to find out and/or cash them in.
- Can I make a $5 bet?wikiHow ContributorIt depends on where you go, every facility will have its own minimum betting requirement.
- How much do I get if I win?wikiHow ContributorYou get your money back, and double the amount. For example, if you bet $100, you will turn in your money, and if you lose, you will not get it back, so you just paid $100. If you win, you get you $100 back, and $100 extra..
Tips
- At the end of the day, take all of your vouchers to the cashier to receive your winnings in cash.
- Plan on arriving at least half an hour before the race you want to bet on to familiarize yourself with the track.
Warnings
- Gambling can sometimes become an addiction and negatively affect your life. If necessary, seek help in dealing with this addiction.
Sources and Citations
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Article Info
Categories: Games of Chance | Horse Racing
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