Horse Race Betting Tips: 5 Ways to Increasing Your Chances of Winning
Horse racing is one of the oldest and most popular equestrian sports. Besides the sport’s fascinating nature, betting on it has become an even more popular pastime worldwide.
Read on for a comprehensive guide on horse racing betting and betting tips, popular horse race bets, and how to place horse racing bets using Bitcoin.
Table of Contents
- What Is Horse Race Betting?
- Popular Types of Horse Racing Bets
- Top 5 Tips for Horse Race Betting
- How to Bet on Horse Racing Using Bitcoin
What Is Horse Race Betting?
Horse race betting refers to placing wagers on the outcomes of horse races held on various racing tracks. Typically, you can bet on horse races in two ways: by wagering online via betting websites like 1xBit or in person at race tracks and brick-and-mortar casinos. Today, we focus on online horse race betting.
Unlike other forms of sports betting, horse racing bets are fluid. Before a race begins, a track official releases the morning lines, which depict where the odds of individual horses will finish when the race ends. The odds in horse racing bets are based on when a race begins and not when you place the wager.
Popular Types of Horse Racing Bets
The most popular horse race bet types are categorized into straight and exotic bets.
Straight Bets
Straight bets are also referred to as traditional horse race bets. They are the most popular among bettors as they are considered more straightforward. They are easy to understand as they involve betting on individual horses, making them ideal for beginners.
Some examples of straight bets include:
- Win bets: This is the most simple of single bets. Here, you choose a horse from a particular race that you believe will emerge in first place at the end of the event. If it wins, you get returns from your wager.
- Place bet: In a place bet, you select a horse from a particular race that you think will finish in either the second or the first position. Although their payments are lower than win bets, a place bet allows you to potentially increase your chances of winning.
- Show bet: This bet is similar to the place bet only with one exception. Instead of covering two positions, you cover three, meaning you will win the wager if your chosen horse finishes the race in the first, second, or third places.
Exotic Bets
Also known as system bets, these horse racing bets are complicated compared to straight bets. They involve betting on more than one horse. Here are some examples.
- Exacta bet: An exacta bet allows you to bet on two horses in a single race to finish in the top two positions. You are also required to predict the order in which they cross the finishing line.
- Quinella bet: This bet is similar to the exacta bet with one slight variation. Here, you are not required to predict the order in which the two horses will finish the race.
- Trifecta bet: In this bet, you select three horses in a single race to finish in podium positions in the correct order.
- Superfecta bet: Considered one of the toughest, you win this bet by predicting which four horses will clinch the top four positions in the correct order.
- Daily double bet: Here, you predict the winner of two back-to-back races.
Top 5 Tips for Horse Race Betting
Let's look at some top tips you can take into consideration while participating in horse race betting.
Conduct Your Research
Like in most betting opportunities, conducting thorough research before placing wagers on horse races increases your chances of getting returns. Get to know all the intricate details of race tracks, individual horses, and jockeys involved in the race before making any decision.
Never Ignore the Favorite
Although favorites may have less betting odds than underdogs, refusing to bet on them can put you at a disadvantage. They tend to win on many occasions, meaning you have a chance of increasing your winnings in the long haul.
Have a Good Bankroll Management System
In all kinds of betting, horse racing included, it is in your best interest to bet with disposable income. It would help if you are also keen not to over-bet, as you will spend extra money on a race without putting much analysis into it.
Have a Strategy
Having a strategy means you can follow a structured approach which could help you increase the probability of making profits from horse race betting. You can use different strategies, but the Dutching system is the simplest and easy to apply for beginners.
Study Horse's Statistics
Another way of making more from horse race bets is by evaluating individual horses' winning percentages. These statistics will help you know what to expect from the horses on the track and where to place your wagers based on past performances.
How to Bet on Horse Racing Using Bitcoin
Horse race betting using Bitcoin has become common. You can easily place a bet on any horse race using top betting websites like 1xBit with Bitcoin and a list of other cryptocurrencies.
Here is a step-by-step guide to Bitcoin horse race betting on 1xBit!
First, visit 1xbit.com and enter your details on the left side of the home page to register on the site.
Once you’ve successfully created an account, log in and deposit some BTC. You do this by clicking the 'deposit' button and selecting Bitcoin as your preferred mode of payment. Proceed to use the wallet address given by the site to deposit from your wallet.
On the Sports menu, scroll down the A-Z listing and click on horse racing.
Settle on a horse racing event you’d like to bet on, fill in your bet slip, and tap on the 'PLACE A BET' button. Then wait for your results.
1xBit has made Bitcoin horse race betting accessible to all betting enthusiasts worldwide by providing a crypto-only sports betting platform. Further, the odds accompanying these races are superb, and winnings are instantly credited to your accounts.
Visit the 1xBit website, register for an account & start betting on horse racing!