Horse Racing Betting

In a race where there asre five horses the is placed on the first,second and third spot...

In horse racing betting there is a gambling station where gamblers stake money on any horse. Horse racing gambling is however forbidden on some tracks and a notable one is Springdale Race Course that is the home of the nationally acclaimed Toronto-Dominion Bank Carolina Cup and the Colonial Cup Steeplechase located in Camden in South Carolina. Horse racing betting is illegal here under a law implemented in 1951.

In those tracks where gambling is permitted most tracks provide people with parimutuel betting. This is a form of gambling where money is pooled in and shared on a proportionate basis among winners once the deduction is made from the gambling pool. There are some nations like the UK, Ireland and Australia where there is a more popular and alternative facility provided to horse race gamblers by bookmakers who successfully make odds in the market. The method permits the horse gambler to lock in odds on a specific horse at a specific time. This is also known as “taking the price” in the UK. Parimutuel gambling in nations for horse races provides purse money to participants as well as considerable tax revenue with more than $100 billion being wagered in a year in about fifty-three nations.

There are different types of horse racing bets that horse racing gamblers love to place. In North America horse racing the three most common ways on betting is to win, place and to show. A bet to win is often called a “straight bet” and it means that you should stake money on the horse and if it wins the match and comes in first place, this bet is declared the winner.

In a bet to place, betting is done on a horse that comes in the first, second or third place. This bet depends on the number of horses in the race. For instance in a race where there are five horses the bet would be placed on the first and second winning spots however in a race where there are ten horses the bet is placed on a horse that finishes in the first, second and third spot. The bet to show is won only when the horse finishes in the first, second and third spot. It is much easier you to choose a horse that finish first, second or third in the race than choosing a horse that finishes first. This means that the show payoffs are lesser than the win payoffs.

In Europe, Asia and Australia the payout depends on the size of the field. There is another bet known as the Each Way Bet used everywhere besides North America however it has a different meaning in every location. This bet is split into two and half is placed on the win and half on the place. Bettors get a payout if the horse either wins or is placed in the specific place criteria of that race. There are other factors that influence this type of bet and it differs from location to location along with the number of horse runners in the race.