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The Grueling Truth - Where Legends Speak / Horse Racing / A Guide to the basics of Horse Race Betting

A Guide to the basics of Horse Race Betting

A guide to betting the horses!
Publish Date: 04/26/2021
Fact checked by: Mark Lewis

Horse racing is one of the favorite sports that the people of Slovenians love to place bets on, thanks to its worldwide accessibility.

If you’re new to the online betting scene and want to know the nitty-gritty about wagering on horses, don’t worry.

Several sources online like mightytips.si can help you know how to get started with horse race betting. Plus, if you’re a newbie, read on to know the basic wager types.

Online Betting- The Slovenian Scene

The Gambling Act of 1995 attempted to regulate the country’s gambling environment. However, the regulations did not touch online gambling in particular. Presently, the legal situation in Slovenia remains the same.

Slovenians can freely access state and international betting websites without fear of prosecution.

  • There is no government restriction on foreign online bookies.
  • Only people of 18 years or above are legally allowed to play wager games.
  • Only E-stave operates under a state license. (low payouts).
  • Winnings from online international bookmakers are not taxable.

Types of Betting

Online betting is quite dynamic – and you can bet in different ways. You won’t ever have a boring moment when playing these basic bet types.

Straight Bet

Straight bets are of three types. You either can bet to win, finish second (place) or finish third (show). “Across the board” is, however, the fourth way. As long as it ranks in the Top 3, it still pays off your wager.

In the first case, the horse must win. If you bet to finish second, you win if it wins or places but, the payout is only the ‘place’ money. The same rule applies to winning the ‘show’ money.

An ‘across the board bet’ triples your wagering amount. For third place, you collect the show money. However, you win both show and place money if it finishes second.

Exotic Bet for Singles

It would be best if you choose a horse in the correct order of finish to improve your chances of hitting exotic bets. For an “exacta bet,” the first two finishers and the top 3 for a “trifecta bet.” Based on the closing odds of your horse, these wagers open doors to higher payouts.

A quinella bet, aka boxed exacta, allows punters to pick the first two horses. You win if it finishes in either order. On the other hand, in superfecta betting, you can choose the top 4 horses in a race. It is challenging to pick superfectas and trifectas. In that case, wheeling in a horse with another group can keep your bankroll in favor.

Exotic Bet for Multiple

These races are of 4 types- pick 6, pick 4 and pick 3 and daily double.

This might be your biggest bet if you’re only looking forward to picking winners in consecutive races. As attractive as it is, it is a challenging gamble. However, if your winning picks are correct, your winning increases with each race in the mix.

For Daily Doubles, if you are right, even with two races, your payout will go up (based on the total wager on each pool).

Insider Tips to Win your Bet

Following are the tips that can help you win the wager.

Gamble on the Right Horse

Never put your wager on a horse that has just come back from an extended rest period (first race after layoff). Knowing the horse’s off-late racing history comes in handy. In the first comeback race, these horses may not give their best. That is usually the case in higher-class racing. So, going for the one running its second race (post layoff) will be a wiser call for online gamblers.

Research your horse’s racing history

It isn’t a good idea to risk your funds on any race. You need to measure the horse’s weakness and strength. So, handicapping all the races on the day’s card is best for beginners to get acquainted with the process. Place a real bet only when you are confident about your picks.

This strategy works great when you can bet on multiple tracks simultaneously. However, don’t let the excitement that horse racing brings to the table get to you. It may end up impacting your betting bankroll. That is why first-timers must only focus on one or two tracks initially.

Mind the track surface & its condition

Horse racing mainly occurs on turf or dirt tracks. Know your horse’s previous performance of similar track surfaces. Most of them are trained to run on a particular surface, but at times, crossovers happen. That is true, especially for high-class stake races.

Track condition also influences their performance. Horse race, be it shine or rain. Is your horse running on a dry or a wet track? It is best to place your bets after comparing their racing history on it.

Check the Horse Grade

The world of horse betting has a grading system that ranges from Grade 1 to a claiming race (low payout). For instance, the Kentucky Derby is a Grade 1 race.

Horses start racing from two years of age and work their way up in ranks gradually. The average ones running on tracks in regular racecards keep moving up & down in grade. Bet on the one that drops in rank. It will increase your chances of winning because they run with lower-class horses now.

So, this was the basics of betting on horses. We hope it helps & betters your gambling experience in horse racing!

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