There are few more globally popular sports for bettors than horse racing. Betting on the sport is popular throughout the year, with huge spikes around the standout events on the calendar such as the Breeders’ Cup, Kentucky Derby, and Royal Ascot.
The sport is often able to attract first-time bettors throughout the year on a yearly basis, meaning that newcomers can often mistake what each betting market entails in order to get a winner. But, what are some of the best betting markets when wagering on the sport for the big races in 2023?
Win Betting
There are few markets across all sports that are as straightforward to understand as win betting in horse racing. In this market, the bettor will be looking to find the winning selection in the race that they are examining, and the returns are awarded if you have wagered on the runner that is first past the post.
Win betting is popular among newcomers and experienced bettors, with the latter often looking to shop around to ensure that they get the best possible price for the selection that they wish to make.
Find more information here: edge.twinspires.com/racing/betting-info/horse-racing/
Place Betting
Some of the most-watched races on the international calendar often attract high-quality fields, with contests such as the Grand National and Melbourne Cup often having a huge number of potential runners.
Therefore, there is often value in placing wagers on the place betting market, especially when you are assessing some of the runners at the bigger prices. In the place betting market, you will be selecting a runner that needs to finish in the first two positions in order to gain returns. There is also the opportunity to wager on the show market, which covers a selection finishing third in the race.
Exacta/Trifecta Betting
One of the most popular betting markets with experienced bettors are the Exotic selections such as Exactas and Trifectas. Here, extensive research must be completed to ensure that the bettor has examined all potential speed angles in a potential race.
Then, the aim to land an Exacta will see the bettor looking to predict the runners that finish first and second in the correct order. The Trifecta adds even greater difficulty, as the bettor must predict the runners that finish first, second and third in the correct finishing order. However, bettors that have done the required research will be rewarded, as they could stand to earn considerable returns in this market.
Parlay Betting
Parlay betting is most common with North American gamblers when it comes to placing money on sports such as basketball, hockey and American Football. However, it can also be done to wager money on the latest horse racing action. Parlays enable bettors to combine together multiple runners from different races in the hope of gaining considerable returns on their selections.
It is an excellent market to increase the potential returns when betting on favourites, but there are also shortcomings. The most evident of those is the fact that it is extremely high-risk, as bettors stand to lose their stake if just one of their selections fail to win. If you have a parlay with four runners, and the first three win but the last selection finishes second, then the stake from the bet is lost.
Tips For Horse Racing Betting
There are few harder sports to get regular winners than horse racing, but there are a number of tips that bettors can follow to enhance their chances of landing wins.
That includes studying the recent form of the runners, assessing whether any of the selections have won over the distance or course that they are competing at. Meanwhile, experienced bettors will also assess the strike rates of trainers and jockeys before making a wager.
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