Are you hoping to win big betting on horses, but aren’t quite sure how to get started?

A lot of people think that horse betting is all about having good luck. While luck is certainly a factor, horse betting actually requires a lot of skill and knowledge. 

How do you make sure you win big at the races?

Check out this guide to discover everything you need to know about betting on horses. 

Understand Your Betting Options 

Whether you’re betting on Kentucky Derby 2020 or a local horse race, it’s important that you understand your betting options. There are three main types of horse betting:

  1. Exotic bets with a single race
  2. Exotic bets that cover multiple races
  3. Straight bets

With a single race exotic bet, you can group multiple horses into a single bet. If you choose to bet on multiple horses, they need to finish in the exact same order in which you placed the bet. 

The most common form of a multiple exotic race bet is the daily double, in which you pick winning horses for two consecutive races. 

Straight betting is the easiest to get the hang of, as it only involves picking an outright winner for each race. 

Do Your Homework 

While thousands of people bet on horse races every year, very few take the time to do their homework before selecting a horse to bet on. 

Even just a quick glance at the racing program will help you significantly increase your odds of winning big. Racing forms, otherwise known as form guides, give you everything you need to know about the race and the competing horses. 

While these guides won’t tell you which horses to bet on, they will help you make an informed decision. The guide gives you information about the horse’s ranking, the jockey racing them, and the horse’s draw (starting position). 

Shop the Odds 

“Shopping the odds” is a term that’s used to describe figuring out your odds of winning a particular race. 

Once you’ve determined the horse you’re going to bet on and the type of bet you’re going to place, you can begin shopping the odds. To do this, you can check out the on-course bookmaker as well as online gambling sites. 

Then, you should go with whichever option gives you the highest chance of winning the most money. Shopping the odds may not seem like the best way to make money at first, as you may only make a couple of extra bucks on each bet. 

However, a few extra bucks here and there can add up really quickly. 

Off to the Races: Time to Start Betting On Horses 

Now that you’ve read this guide on betting on horses, it’s time to get started with your bets. Before you know it, you’ll be winning big at the races. 

Be sure to check back in with our blog for more tips and tricks related to gambling.