Betting on horse racing has been a very popular pastime for millions of people all over the world for decades. However, with the introduction of the internet, this hobby, or profession for some, soon evolved into online gambling. Here is our basic guide to betting horses on the internet.
Obviously, there are several benefits to betting on horse racing online. The main benefit is that gamblers are able to access much more information, which may give them a better chance. For example, they will be able to see much more detailed information about the horses participating in the race, the jockey, and even the condition of the track.
Because of this, millions of people are flocking to online bookmakers and gambling websites to try and win some extra cash. However, it is not as simple as many people think. What most people fail to realise is that it is not just as simple as betting on a horse that you like the name of. Of course, this is fine if you are making a one off bet on an event such as the Grand National, but if you intend on making a living out of horse betting then you need to learn the basics first.
First of all, it is very important that you know where you can place bets on horse races. There are a lot of different sites out there that will allow you to do this, but some of them are much better than others – check out our list of online bookmaker reviews for more information.
If you are a beginner then it is generally a good idea to start off with a well known website that offers you detailed information about the way things work. These days most of the leading bookmakers in the United Kingdom actually have their own website as well. Once you become familiar with the way that online betting works you can progress onto sites that are specific to horse racing.
One thing that you will definitely need to familiarize yourself with before you start betting on any races is what the different types of bets are, and how you can use them.
A win bet is the most common type of bet that you will find in horse racing, and also the one that the majority of people who are new to gambling will use. This method of betting is fairly self explanatory. Start off by choosing a horse. Once you have picked the horse that you think is going to win, it is time to place your bet. You are betting that this horse is going to win the race. If the horse wins, then you win. If the horse comes in any other position apart from 1st then you will lose.
Each Way Bet
An each way bet is most easily explained as two bets. Start off with the same process as above; pick your horse and make your bet. However, with an each way bet you have two chances to win some money. For example, if your horse wins the race then you will get your winnings, but if your horse places in 2nd or 3rd then you will also collect some returns. If your horse does happen to place in 1st then you will win twice.
Place Only Bet
A place only bet is a little different, but it does improve your chances of winning slightly. When you place this kind of bet, you are usually betting that your horse will either come in 1st, 2nd, or 3rd, so no other place below that will get you a win. This type of bet is more usually found with online bookmakers or betting exchanges such as Betfair, and a lot of people prefer to use the two betting methods above.
These are the three main types of bets that you are likely to come across when it comes to online horse racing betting. However, there are more, but these are only really seen where the gambler is more experienced. Once you get into the process you may wish to experiment with other betting methods yourself.
As with any kind of gambling there are some things that you need to know in order to be successful and not lose huge amounts of money.
Be Aware – Gambling can be addictive. The important thing to remember here is that whilst you may get a rush when you get a win, it can all go downhill very fast. Create a budget and stick to it, this will give you a limit so that you do not get hooked.
Do Your Research – Before a race it is always a good idea to really look into the details about the race and there are a few things that you should definitely be looking into. For example, read up on all of the horses participating in the race. By doing this you are already giving yourself a slight advantage. You should also find out the track conditions; this may affect how the race goes.
Only Bet What You Can Afford – This is possibly one of the most important things that you should keep in mind. Gambling is never the solution to any monetary problems. Unfortunately, a lot of people get caught up in it and think that they may be able to sort out their financial situation, but it will only lead to trouble.
So, there you have it. A basic guide to betting on horse racing online. The more you play, the more you will pick up the unique language of horse racing and the more experience you will gain. Good luck with all of your online betting!