How To Bet On Horse Racing

By: Lee Grayson

Break Studios Contributing Writer

Knowing how to bet on horse racing involves wagering strategy. Although betting appears to be an easy proposition, it does require some preparation before arriving at the track. Anyone can be lucky and make a chance win, but learning about how to bet on horse racing requires sound research, lots of practice and understanding the betting system.

To bet on horse racing you will need:

The racing form newspaper or the daily track reporting in the public newspaper
High lighters (at least two different colors)
Binoculars
Folding chair
Pencil (pens work, but pencil lead can be easily erased)
Cash
Daily race guide (purchased at the race track)

Do some research before you hit the race track. Betting on horse racing requires research. Anyone can win by placing a wager on the odds-on favorite, but other than a day of fun at the track, betting the favorite isn't going to win much money. Research involves reading specialized racing newspapers available at the race track and from large newspaper counters. The ability of trainers, breeders and jockeys all come into play during a race and reading up on the background assists the gamer in deciding if a new horse might make a sound wager. For veteran race horses, studying past race results is informative betting information. Evaluate like track conditions when studying the research.
Buy a daily race program. Horse racing isn't like a baseball game. You need a program to determine the list of horses running in each race.
Set up a viewing location. Put your lawn chair near the rails and stake out your location for the day. Make sure you have a good view of the finish line and the tote board. Test your binoculars to make sure you can see the starting gate and the finish line.
Look over your race form and program for the day. Horses are pulled, called a "scratch," and jockeys are substituted. This means you'll need more research for some of the races you've prepared. The key to bet on horse racing is to be flexible and go with last minute changes. Use your high lighters and pencil to develop a personalized system for picking your favorite horses and jockeys.
Decide how much you want to bet. Pace yourself in this department. Once you learn how to bet on horse racing, you can put more money out for different races, but start small if you're learning the ropes. Some people like to pencil in a sample bet and watch the races to record the imaginary winnings for a few races, just as practice.
Make a simple bet. The most important tip on how to bet on horses include betting suggestions. Simple betting involves wagering a horse to take first, a "win" bet, second, a "place" bet, or a third, a "show" bet, in the race.
Place the bet. Wagers are made in one general area of the race track. Cashiers in small cages take the money and hand out a ticket. Check the bidding ticket to make sure it's correct. The ticket should have your race; a win, place or show listed; and how much you've wagered. A main rule of how to bet on horse racing is to confirm your bet information before leaving the counter.
Bring your horse in the money. That's means follow the action and encourage your pick.
Check your bid. Never tear up or toss your ticket until the final call is made announcing the winner. A final photo may need to be examined before the results are announced. Occasionally, there is a call on the race and a horse or jockey is disqualified. These changes impact the results of the race.
Collect your winnings. If you've won, return to the wagering area and turn in your bid ticket for cash. The parimutuel betting system at horse racing tracks adds up all the bets, deducts a profit for the track, and then pays the required taxes. What is left over is paid out to the winning tickets based on the posted odds and the odds differ with each type of bet.