Horse Racing Bets: Learning the Ropes

Bitcoin sports betting has allowed people to place sports bets from the world over. Bitcoin’s advantages of easy transactions and worldwide coverage can allow you to make a bet on a sporting event that is half the world away. If this is your first time betting, why not start with one of the most traditional of sports bets, the racing bet?

Bets on horse races have been around for a long time. Mentions about it have been even mentioned in some Roman histories and popular depictions of the Roman Coliseum have chariot racing as a highlight of it. Of course, modern horse racing is a whole different beast. There’s been a millennia of innovation in terms of racing equipment, rules, and, most importantly, betting.

If you want to place a wager on a horse nowadays, here are a few things to remember. First, try to always bet on the favorite. The favorite is often marked out in the racing program and it should be easy enough to place a bet on it. There is a 33% chance of the favorite winning, but with a low return. Still, a win is a win. Don’t think it’s a sure thing though.

Next, when betting, you’ll need to be aware of the types of bets. As a beginner, there are only three you’ll need to worry about. Show bets mean that your picked horse is in the top three. Place bets require that your bet is either first or second. Win bets are only claimed if your horse wins the race. You can also try for more complicated bets, but these three have the best odds and are easier to understand.

Finally, keep the ticket handy. Whether it’s in electronic form or paper, your ticket will be the main proof of your bet. If you do win, you’ll want to be able to claim your prize easily. Holding on to your ticket is the way to do that.

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