An interesting fact about horse racing is that it is, worldwide, amongst the most popular sports to bet on. In the United States horse racing is the third most bet on sport overall, while only coming in 26th in terms of viewer popularity. This means that the vast majority of those that watch horse racing do so to make wagers.

Another interesting fact is that most horse racing bets fail. The simple truth is that although punters enjoy horse racing, many don’t understand even the most basic strategies.

Homework Is Essential

Statistics show that the vast majority of those that bet on horses don’t even glance at the program. In fact, the primary means of choosing a horse is often the animal’s name. It is no wonder then that the majority of bets fail. The program has a wealth of information regarding a race, though it can be confusing as to what all the information means.

For example; wouldn’t it be good to know if a horse has won a race on a particular track before? It certainly would, but that information would never be given out, would it? The data would make placing a bet too easy. If the letters CD appear beside a horse’s name it means that the horse has won at the current track previously.

The bottom line is that a bettor who understands this information is dramatically more likely to make a smart bet. Of course it is still far more difficult to choose a winning horse than just by the provided information. Even still, being educated on how it all works is a huge leap into being a smarter horse racing punter.

Explore Betting Options

It’s interesting how many assume that horse race betting is exclusively predicting a winner outright. While this is the most popular bet there are a number of other options. A single horse need not be chosen as the overall winner with Place, Show or Across the Board bets. The fact is that a horse only really needs to finish in the top 3 for a payout to be awarded. A Place bet is a prediction that a horse will finish first or second. A show bet is a prediction for first, second or third. Across The Board covers first, second and third, but with the payout adjusted accordingly.

As with all forms of gambling it is a matter of risk versus reward. A more precise bet is going to be worth a bigger payout.

Shopping The Odds

Lastly; not all sportsbooks offer the same odds. This means that once a punter has decided on a bet, they don’t necessarily have to settle for the first odds they find. It is possible, and encouraged, to look around for the best possible odds on the chosen bet. The difference in odds may be small, but may also be fairly significant. Either way getting the best possible deal is something every serious bettor considers to be essential.