Horse betting is a very lucrative industry enjoyed by bettors and horse racing fans worldwide. Horse racing betting in Singapore and other parts of the globe attracts many rookie bettors who want to try their shot to win and potentially make a profit . However, horse betting might be difficult for beginners who do not have prior knowledge of horse racing bets. To help with that, below are the most straightforward horse racing bets that any rookie punters can try.
There are two categories to choose from when betting on horse races: straight wagers and exotic wagers. It is always recommended to stay with the straight bets since they are way more straightforward and cheaper when compared to exotic wagers which require advanced knowledge and skill in horse picking. In that case, below are the types of straight wagers every rookie bettor can enjoy.
Straight Wagers
As the name suggests, straight wagers are all about staking straight for one horse only. Here are some forms of straight wagers that can still provide exceptional horse betting experience.
Win
This is the easiest and the most basic form of straight wagers. Bettors only need to bet on a horse that they believe is most likely to win first place.
Place
When bettors wages for a horse to “place,” they are betting that the horse will either win first place or come second. If the horse finishes first or second, they get the winning bet. Note that the payout for a place bet is slightly lower than a win bet, but it is still a good option for a safer bet since it covers two of the top spots.
Show
A show wager is a bet on a horse to finish either in first, second, or third place. Since it covers three top spots, it has a higher chance of winning when compared to place and win bets. However, the payout is considerably lower when compared to the first two bets mentioned above.
Win/Place and Place/Show
In these types of bets, bettors can have multiple straight wagers in a single bet. For Win/Place bet, as its name suggests, you are betting that your horse will win or place. If the horse wins, you can get the win and place bet profit. If the horse lands in second place, you only get the place bet profit. Meawhile, Place/Show bet means you are betting that your horse will place or show.
If the horse lands in second place, you can get both the place and show bet profit. You only get the show bet profit if the horse finishes the race in third place. Note that both win/place and place/show can be expensive compared to other horse racing bets. This is because you are actually placing multiple stakes on your horse in a single bet. For instance, a minimum bet for win/place bet may cost $4 because you are betting that the horse will win and/or finish in second place.
Across the Board
Same with the win/place and place/show bet, this type of straight wager also offers multiple wagers in one bet. Across-the-board betting is a combination of win, place, and show bets. That means you are betting that your horse will either win or finish in second or third place.
If the horse wins first place, you can get the profits from win, place and show bet. If the horse ends the race in second place, you can get the earnings from the place and show bet. And if the horse gets third place, you only get the profit from the show bet. The across-the-board bet is also way more expensive than the win/place and place/show bet since it has three wagers in one bet. An across-the-board bet can cost around a minimum of $6, which is $2 each for win, place, and show wager.
Conclusion
Although horse racing betting might be difficult initially, with enough research and understanding, it can be a fun and profitable activity even for rookie bettors. Learning the basic types of bets is a good start to practice and work your way to more complex horse racing bets.
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