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Know More About Horse Race Betting

Sports betting has been a well-loved pastime for all sports lovers. Who wouldn’t? Through sports betting, you can enjoy your favorite sport while earning. Sports such as football, basketball, golf, and the likes are just some of the most popular sports in the betting industry. But who can forget the ever classic and oldest among all sports? Horse racing.

Horse racing has been existing since the 16th century. Throughout those years, it has been through several changes and developments. It has developed from a primitive test of speed and stamina between two horses into large fields of runners, high-tech equipment, and massive amounts of money. But the basic concept of horse racing never changed– the horse that finishes first is the winner.

These days, horse racing is not as popular as it was before. But despite this, patrons still flock for horse racing events, and it is still considered one most relevant and attended sports in the world. Its rich history and glamor are probably some contributors to why many people still enjoy and love to bet on this sport.

History

Horse racing started in the UK in the early 1600s during the reign of King James I. The King was fond of watching races even though the outlets for racing events were scarce. However, when King James I deemed the small town of Newmarket as a royal resort, horse racing then became significant in British culture.

After two centuries, several improvements in horse racing have been visible. One of the most notable improvements is during the reign of Queen Anne II. As the queen rode around Ascot, she decided to turn the open area next to Windsor Castle into an open space where the horses can freely gallop. And in 1711, the Ascot race meeting was established. Up to this day, the Royal Ascot festival is celebrated in honor of Queen Anne II as she has put horse racing into the mainstream.

As years passed, numerous advancements were made in the horse racing industry, such as the British Classics. The British Classics are five long-standing Group 1 horse races established between 1776 to 1814, respectively. Winning in these races means that you are in the top tier in horse racing.

For years, gambling has been illegal. And that includes horse race betting. But in 1928, the British government has created the Race Betting Act of 1928. This act has made horse betting a legitimate gambling means and ordered to stop the off-course betting operations. With the help of this act, profits made from the bets can now be invested back into the sport.

The Race Betting Act has been provided tremendous help in keeping horse betting legal. However, bettors can only participate at the track itself. This is where the Betting Levy Act of 1961 comes in. This act has allowed bookmakers to provide off-course pool bets for horse racing. The Levy act opened more ways for people to join and have access to horse racing betting in Singapore.

In 1996, the first online casino was established. But during that time, table games like poker is the only game they offered. However, horse racing has played a significant role in establishing online sports betting due to its popularity during this time. And ever since, most online casino websites provide and offer the best coverage for horse races and betting.

Types of Betting

There are numerous types of horse bets you can participate in. The types of betting in the horse racing industry may vary depending on the country. One example is betting to place. This type of betting has completely different mechanics in North America compared to Europe, Australia, and Asia.

If you are new to this sport, the vast array of betting types might confuse you. So here are the three most accessible and most common types of betting you can try.

Win Bet

Often called the straight bet, win wager or win bet is easy to understand. As the name suggests, all you have to do is straight-up pick the horse you think will win and place your bet on it. This type of bet means if the horse you picked wins, then you win. And if it does not, then you lose the bet.

Place Bet

Place bet also translates on its own. This is the type of bet where you will choose the horse you think will place either first or second. Like win the bet, place bet is not complicated. However, the payoffs in this type of bet are so much lower as the gambled money will be split into the winning horse and the runner-up.

Show Bet

In show betting, you have to pick a horse and bet it will finish as first, second, or third in the race. If your chosen horse finishes within the top three, then you win. But if your horse finishes off the board or out of the top three, then you will lose.

Out of the three types of horse bets, show bet is the easiest one as you have more options. However, this also means that the payoffs in this type of bet will be relatively lower than the two.

Participating and placing a bet on a horse race is not all complicated. One does not need to be an expert to win. Unlike in other sports, where almost every bettor has strategies and guides to win, placing a bet in a horse race does not require much. You can bet on the horse, number, or jockey you like. There is no need to thoroughly know all the details and background of each participating horse. But if you want to establish your strategy, then you may freely do so. It will be totally up to you.

With its remarkable history, no wonder many people still find horse racing appealing. And if you are wondering where you can place your bets, you can check 88ProBet. 88ProBet is a trusted and prominent online sportsbook agent in Singapore and Malaysia. Click this link to book with us!

Read More: Do’s and Don’ts of Horse Race Betting

 

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