The Complexity of Horse Racing Betting

Horse racing betting can be complicated for the beginner, but once you learn the procedure, it's not that hard. Unlike casinos, you aren't betting against "the house." What happens is that the wagers are put into a common pot as bettors pick among all possible horse racing selections. All bets for a particular horse to win are pooled. If that horse wins, then the race track takes a percent of the total, each bettor receives their original wager back, and what's left in the pool is then divided equally among the winners.

That sounds easy, but it gets complicated when the race entries chosen are in more than just the "win" category. Bettors can choose not just one horse, but also combinations of first, second or third place winners. For example, if someone bets on a first-second-third combination, then this bet is called a trifecta. They will only win if all three horses place in the order the person bet on. The simplest betting involves choosing a horse either to win the race, to "place," meaning it finishes first or second, or to "show," where it must be somewhere among the top three finishers.

Check the horse racing board for the odds, and then place your bet. The minimum bet at a track is usually two dollars, though you can certainly place larger wagers. At the betting window, you'll be expected to be able to list several things quickly. When it comes to horse racing betting, you need to be swift, as all bettors in line behind you must place their bets before the race starts. State the race track number, the race number itself, how much you're betting, what type of bet it is (win, place, show, combination bet, etc), and of course the horse number.

Making your horse racing selections is only part of the story, of course. Picking a horse is relatively easy, especially if you've got some statistics, but making the right sort of bet requires other calculations. You can pick a horse to "show," which is the safest sort of bet, and be content with fairly regular modest payouts. But now and then you might want to add just a bit of spice to your horse racing betting by going for the long shot. The point is to educate yourself and go slowly, to gain a feel for what you're doing. As you gain confidence and knowledge, you can vary your bets and expand your racing horizons.

Beth Kaminski is the co-author of Curing Your Anxiety And Panic Attacks which detailed treating anxiety disorder as well as tips on the various anxiety attack medication available at anxietydisordercure.com.