Horse Racing is know as the sport of kings, and it is widely known that kings love to bet, more than anything they love to bet on horse racing.
While horse racing is already an exciting sport for spectators, the sport really comes of it's own when betting on horse racing occurs. Let's face it, without horse race betting, all that is left are a couple of ponies running around in circles to see who is the quickest over a set distance.
There are many reasons why horse race betting is favoured by punters, but the main reason is the sheer number of horse racing events that take place around the world every day. In Australia Horse Racing betting takes place on every day of the year with the exception of only two days, Good Friday and Christmas Day. Betting on horse races is so popular in Australia that there is even a race that the entire nation has a public holiday for; the Melbourne Cup - The Melbourne Cup is widely known as the race which stops the nation.
The popularity of horse race betting in Australia has increased over the years due to the legalisation and regulation of large corporate bookmakers or bookies as they are sometimes called. Aside from making the sport of horse racing more exciting, having a bet on horse racing is one of the most common practices of Australians.
Given the growth of Horse racing betting over the years, punters enjoy unprecedented racehorse information and statistics when it comes to making a bet on the ponies. Miller's Guide has developed one of the most comprehensive Horse Race Betting guides on the net, and listed below is a list of popular terms used by both sportsbetting companies as well as punters.
When making a bet on horse racing the obvious goal is to win. Horse Race betting generally takes place against a bookmaker or a sportsbook. These entities set the odds for each race and the payout for each horse. In order to win money when horse race betting you must beat the oddsmakers. While it may seem like a daunting task, becoming a winning horse race betting punter doesn't have to be such a chore. You may wish to simply have a simple bet on a few races of the year such as the Melbourne Cup or other spring racing carnival horse races, but given the wealth of information available to the average punter these days it is common that even the average joe can secure quite a large windfall from time to time.
Below is a list of common horse race bets as well as their definitions that should help you with your task of horse race betting.
Win Bet - Single - Straight Up Bet:
This is the easiest and most straight forward type of horse racing bet. You chose which horse you think will win, and in order for your bet to win, that horse and only that horse must finish first. across the finish line.
Place Bet:
While a Win Bet is one that you place for the horse to win, a place bet is defined as a horse racing bet whereby you back the horse to finish either first or second. It is not uncommon for some sportbetting agencies or online bookmakers to allow place bets to win if the horse finishes either first, second or third.
Show Bet:
A show bet is defined as a bet on any horse to finish either first, second or third. Show bets are common when bookmakers allow place bets for first and second place only.
Combination Bet - Combo:
Combination bets or Combos allow you to bet on between two and four horses to win in a particular chosen order. While these bets are very difficult to select, the payouts can be astronomical when selected correctly.
Quiniela or Reverse Forecast (UK):
A Quiniela horse race bet is a bet made for two horses to finish first and second in any order.
Exacta - Perfecta - Straight Forecast (UK):
Similar to a Quiniela in that it is a bet on two horses however they must cross the line in the perfect order selected in order to win.
Trifecta - Tricast - Treble Forecast (UK):
A Trifecta is a bet placed on any three horses to finish in first, second and third in the exact selected order.
Box Trifecta - Box Tricast - Box Treble Forecast (UK):
A Box Trifecta is a bet placed on any three horses to finish first, second or third in any order.
Superfecta:
A Superfecta horse race bet is similar to a trifecta only that it is a bet placed on four horses not three crossing the line in the exact chosen order.
Daily Double:
A horse racing bet placed on the winners of the first and second races of the day. Any daily double bet must be placed prior to the start of the first race.
Jackpot - Pick 6:
A pick 6 or jackpot horse race bet is a bet placed on six horses to win 6 different races. These types of bets generally feature a jackpot or progressive bonus as they are very hard to select and rarely get won. Pick 6 or jackpot bets vary from track to track along with the rules.
Parlay or Accumulator:
A Parlay bet is a bet made on multiple selections with the winning bet on the first selection being bet on the second selection, letting it ride. A Parlay bet can be made on two or more selections and all selections made must win for the parlay to win. If one of the race is a tie, postponed or cancelled, the parlay is automatically reduced by one selection; a double parlay becomes a straight bet, a triple parlay becomes a double etc.
Future - Futures:
A future bet is sports bet made on a future event or outcome. Prior to large races, online sportsbetting companies will offer odds on races, these are called futures. As the race date approaches, the odds will invariably change, most likely getting shorter however if you win a futures horse racing bet, you will be paid at the original odds that you placed the bet at. Futures bets can be very profitable bets if the punter has good knowledge of the race that they are betting on such as the jockey, horse or track.
Exotic Bets:
An exotic bet is exactly as it states, exotic. While other bets are based on the particular order or outcome of a race or event, exotic bet's can be based on just about anything and any outcome. Popular exotic bet's are first goal or try scorers in AFL or Rugby and can even be for the winners of television reality shows. Some people are said to bet on just about anything, even two flies crawling up a wall - This would be an exotic bet personified.
Proposition Bet - Prop Bet:
Similar to an exotic bet in that it can be placed on just about any event or outcome. The odds and conditions are determined by the sportsbook or online betting agency.
Once you have learn the jargon you are probably ready to place your first horse racing bet. Check out the Online Sportsbetting Reviews page for the complete overview of the top 5 online sportsbetting companies.
If you still are not sure about online sportsbetting, you should check out the official Miller's Guide to Online Sportsbetting for further information.
