When you are starting out, placing an online bet on horse racing can seem complicated and even confusing. But with some basic information you can become an expert in no time.
To start betting online, Mywinners.com and its online university for horse betting will help you start placing your bets in the online world.
If you are still not sure where to start from, these basics will give you the information you need to do online betting smartly and successfully.
Types of horse racing
Horses are divided into five categories:
- Fillies: Females up to four years old
- Colts: Uncastrated males aged four years plus
- Geldings: Castrated colts
- Mares: Females aged five years plus
- Horses: Uncastrated males aged five years plus
To make races competitive weight allowances are set within the categories. For instance, a horse that hasn’t won its last few races might be allowed to carry less weight in its saddlecloth. Horses carrying a novice jockey carry less weight. So do fillies racing colts or geldings.
Males can’t be entered in a race for fillies, but fillies can participate in male races. The weight of the jockey also helps determine the amount of weight in the saddlecloth.
This is a race for horses that have never won a race. Once a horse wins a race, he or she is no longer eligible for maiden races.
The most common type of race. Claiming races offer the cheapest purses (prize money given to owners of winning horses) so the best horses are rarely entered in claiming races. A horse entered here is called a claimer.
A thoroughbred horse race in the USA or Canada that meets the criteria of the American Graded Stakes Committee of the Thoroughbred Owners and Breeders Association (TOBA). Graded races are similar to group races in Europe. The largest purses are awarded in stakes races, so they attract the best breeders and their horses. The most celebrated stakes races are the Kentucky Derby, Preakness and Belmont Stakes.
Here, horses carry different weights allocated by the handicapper. A stronger horse will carry a heavier weight. Individual weights for a handicap race are assigned by the handicapper to equalize the field and keep races fair, and also close. The handicapper’s goal when selecting the handicaps is ostensibly to achieve a nine-way tie at the end of the race. The skill in betting on a handicap race lies in predicting which horse can overcome his or her handicap.
The final type of race is an allowance race. It requires that horses meet a few set conditions. The weights for each horse to carry are based on the number of races or the amount of money the horse has previously won.
How to bet on horse racing online
The mechanics of online horse racing betting are pretty straightforward. First, you need to join a suitable betting site and then deposit funds at that site.
Once you have a funded online betting account, you simply find the race you want to bet on. Most sites display a list of racetracks holding races that day, so that you can select the track and view all upcoming races.
Online betting offers a number of advantages:
- Better odds
- A variety of betting options
- Extensive coverage of racing worldwide
- Bonuses and rewards
Online horse racing: Tips
1. How to pick winners
If you are at the track, you are likely to pick up a copy of The Daily Racing Form to get comprehensive coverage of a horse’s past performance. Luckily there is an online version which is useful for online wagers
Learning how to handicap a race is an in-depth process and takes study and research. There are many books and online resources to help with this, so if you’re serious about betting, start reading.
2. Making exotic bets
Beyond the basic win, place and show bets, there are so-called exotic bets:
Exacta (/perfecta): A bet on the first two horses to finish, in which you pick the two horses in their correct finish order.
Quinella: You to wager on two horses to win without specifying the finishing order.
Trifecta: You pick the first three horses to win, and their order.
3. Wagering on multiple races
In a daily-double bet you pick the winners of two consecutive races, usually the day’s first two races. Some racetracks also offer a triple, or a “pick three”.
Occasionally, you may even be able to find a pick-six wager. Pick-sixes let you attempt to pick the winners of six consecutive races, and if no one manages to pick all six winners, the pool is split among the bettors that picked the most winners.
If you want to start betting online, go to Mywinners.com. You can also find tips and training at the MyWinners university.