Horse Racing

Horse racing betting presages a long illustrious history. This racing considerably depends upon the country where the races take place. Different countries have their different ways of offering different, distinct styles of racing. There are three different segments in this regard. Those are ‘Flat Racing’, ‘Harness’ and ‘Steeple chasing’ (racing across jumps).

Introduction to the system

According to archeological records, Horse racing betting accrued in Ancient Greece, Egypt, Babylon and Syria. In the ancient the Roman Empire, both mounted horse and chariot horse used to be the most happening events. This is aptly mentioned in the ancient Greek Olympics dating back to 648 BC. Mounted horse and chariot used to be the most important and popular commercial enterprises. Thoroughbred ones used to be one of the most attractive industries among the royal and aristocrat British Horse racing dates back to history with equestrian sport being the frontbenchers of this sport.

There were many horses to pull an operator in a feasible environment. The gambling associates here are attached with the horse racing economics. With a profit exceeding billions, this activity is followed globally and generates conspicuous interest. Harking back, different types of racing began to creep in among different horse breeds which used to surpass the particular procedures of each and every particular sport.

These breeds might have been used for flat racing including the Quarter Horse, Appaloosa and the Thoroughbred. The Steeple chasing mode incorporates the AQPS and Thoroughbred. In Australia, North America and New Zealand, the harness racing was previously influenced by Standard bred horses, though few other breeds were seen in Europe such as Finnhorse and Russian Trotter. All this were subtle backdrops of Horse racing betting.

The rudiments of race betting

At most horse races, there is a gambling station, a place where gamblers stake money on a particular horse. This gambling course is prohibited in some tracks like the Springdale Race Course, which houses the nationally acclaimed Toronto-Dominion Bank Colonial Cup and Carolina Cup. Tracks enabling gambling offer pari-mutuel betting, where the prize money is pooled and distributed proportionally among the bet’s winners after the deduction from the pool.

Horse racing betting is keenly observed in countries like UK, Australia and Ireland, with a popular and alternative mode provided by bookmakers, effectuating market odds. This system propels you to ‘lock in’ the odds on a particular horse at a definite time. This form of pari-mutuel betting on horse races gives not only purse power but tax revenue to a good extent, with over 100 billion dollars wagered in a yearly basis in 53 countries.

Precedents of betting

In the North American precedent, the three popular ways to bet and trade money are to win, to aptly place, and show it likewise. Straight bet refers to a bet to win, and directs you to stake money on a horse, whose first position in the race affirms your win in the bet. You either bet for the first, second or third position in the race, in compliance with the number of horses in the course. For instance, in a race with five to six horses, the Horse racing betting would be just for the first and second position, whereas a race with 10 horses implies a bet on the three ranks cohesively. Since it is comparatively easier to indicate the first, second or third finishing horse than a first placed horse, the race payoffs are relatively lower than win payoffs in average.

Other variants

The betting precedent varies in Europe, Asia and Australia with variations in the number of payout places, which invariably differs in relation to the size of the racing field. For instance, a race with a seven runners in UK will only catapult the first two horses in the segment bets with the majority of bookmakers. Three places are afforded for eight runners or more, while the 16 runners plus handicap race imbibes the first four ranks classified as ‘placed’. The Each-Way coinage as regards to Horse racing betting is used everywhere except North America, and accounts to a different fold as per the location of the race.

The mode of betting exchanges

With auxiliary annotations of traditional Horse racing betting with bookmakers, gamblers can back and put their money on online betting exchanges. Those who put the odds invariably effectuate a bookmaking precedent, and the odds set on a horse are defined by the existing market conditions as regards to the betting exchange. This is determined and defined by the members’ activities in the fold.