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How does horse race betting work?

Sports betting is a huge global industry, with billions of dollars placed in wagers each year. In many countries, betting is legal, and one can simply walk into a bookie shop, and place their wagers. However, in countries like India, betting is considered to be illegal. Punters have to rely on an illegal underground network of bookmakers who accept bets. However, since it is illegal and unregulated, there is often a danger of losing money or getting caught. Thankfully in recent years, a number of online betting sites have started accepting bets from India. One can search, compare and find honest reviews of online sportsbooks on websites like betindia.in and choose the best site to suit their needs.

One exception to this ban on sports betting in India is horse race betting. A Supreme Court judgment in 1996 ruled that the result horse race betting is not solely based on luck, but requires skill on the part of the punter to pick the winning horse, based on its form, breed, health, as well as training. Since then, betting on horse racing in India is considered to be legal.

So, let’s try and understand how exactly does horse race betting work.

Knowing the races

You can buy the racing programs outside the racetrack, and it is a good way to start your betting journey. A racing program contains all the details of the upcoming races, including the name of horses, their breed, their jockey, and details of handicaps if any. A program also contains the details of the horses’ form in the recent weeks, their previous timings during the practice runs, etc. Studying a racing program in detail will give you a fair idea about which horse you may want to bet on.

Ways to bet

Most racing clubs and betting sites offer a number of different bets like two-way, tote or totalizer, and fixed-odds bets. A tote bet is essentially like a lottery. All the bets placed on a race are collected in a pool. At the end of the race, the commission of the club, and taxes are deducted from the pool money, and the rest of the amount is distributed equally among the punters who guessed the winner correctly. You will only get to know how much you won, once the race is over. 

Fixed-odds betting is like regular betting, where you place bets at a pre-set odd, and you get paid accordingly if your selection wins.

You can walk tote window at the racecourse to place tote bets, or bet with a bookmaker for fixed odds

Some common types of bets that you can place

Win – As the name suggests, you have to predict the winner of the race in order to win this bet.

Place – Depending on the number of runners in the race, your selection has to be one of the top finishers of the race. In the case of 7 or fewer runners, your selection must be in the top 2, in the case of 8 or more runners, it should finish in the top 3, and in the case of 12 or more horses racing, your selection must be in the top 4.

Second Horse Pool or Shp – This is a type of tote bet where you have to predict which horse will finish second in the race. If the selection wins or finishes in any other place except the second, you lose your wager.

Tanala – In this type of bet, you have to pick the 3 horses which will finish in the top 3, and pick them in the correct order to get the full prize. If the winner remains the same, but the positions of the second and third horse get interchanged, you win a consolation prize only. By visiting this site you can know about Online football betting(แทงบอลออนไลน์). 

Quinella – You have to pick two horses who will finish in the top two, irrespective of their position.

Once the race is over, and if you were lucky enough to win, you can go to the betting window to collect your winnings after presenting your bet slip.

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