With horse racing, there is a great difference in comparison in comparison to other types of sport betting.In this the players do not bet against the house but instead there is a system referred to as Pari-Mutuel system in which the gamblers bet against each other. The tracks by itself makes money by taking out a certain fraction out of the money in the pool and this is referred as take outs of which if you see it is much similar to taxation.
The bettors of the race are the one who set and determine the odds. At the end of a race, payouts of each race are distributed to the winners holding the tickets showing that they had won the race. Just like any other sport betting activity it is players who have enough information and have done enough research on betting aspects of the game get to be well rewarded.
There are three basic types of bets when it comes to horse betting. These are win, place and show betting. These are normally posted at the tote board shown the track or at the simulcast facility.
This is the simplest type of bet. To be able to win on this all you need to do is to choose on the horse that will win the race and if it gets to win the race then you will be paid.
With this type of bet, you get to win if the horse finishes the race first or takes the second position.
In this type of bet you betting that your horse will take one of the top three sports at the end of the race.
Single race exotic wagers
This is a single race kind of bet. In this the handicapper is required to pick the two horses that will take the first to positions in the race and in the correct order.
This is similar to the Exacta the difference being that in this the handicapper can pick the winners of the race in either order, the second then the first or vice versa.
In this kind of bet, the handicapper is supposed to choose the correct three winners of the race in the correct order at which they will cross the finish line. This are considered to be the most important kind of bet as they are tied to large pay off as well as odds so if you win you get large returns. Compared to the other bets they give large returns and overlays but the major problem of them being that they are blind bets and you will never know you winning an overlaid return.
This is just like the trifecta but with this you need to pick on the top four finishers of the race and also in the order at will they will cross the finish line. The pay from this is good but it is rather the most difficult type of bet.