7 Things To Consider When Betting on Horse Racing

  • 1. How much you are willing to bet: It is easy for beginners to get caught up in the pageantry and wonder of horse racing. Experts suggest that you set a firm limit for your “bankroll”, the amount of money you are willing to bet on that day, and never exceed it.
  • 2. The price of admission to the track does not include a seat: Not everyone who goes to the track sits in the stands or a box to watch the races. If you want to sit in the stands, look for a seating chart and buy a ticket for the desired area.
  • 3. How to read the Daily Racing Form: The Racing Form is filled with symbols and shorthand that can be difficult to decipher. The Form provides information about each horse and its past performance. Experts use the Form to determine which horses to bet on.
  • 4. How to handicap: Once your know how to read the Daily Racing Form, there are a number of ways you can use the information to choose your horses. There are as many ways to handicap a race as there are bettors at the track.
  • 5. How to understand the odds and payouts: The “odds” are each horse’s chances of winning the race. They are calculated before the race and demonstrate how likely the horse is to win the race and what the payout will be for the winning bettors. The closer (or “shorter”) the odds, the more likely the horse is to win and the smaller the payout. The longer the odds, the less likely the horse is to win, but the payout will be bigger.
  • 6. The various kinds of bets you can place: Before going to the betting window, know the kinds of bets you can place. The most basic bet is a “bet to win”, which means you are betting on a particular horse to win the race. You can also bet that a horse will be in the top three, choose the top three horses in order, or another bet from the wide variety available.
  • 7. How to place your bet: When you go to the betting window, tell the attendant the number of the horse you want to bet on (not its name), the number of the race, and the kind of bet (win, place, etc.). Some tracks have beginners’ windows to help you until you feel comfortable.