Horse Racing is the oldest and most popular type of racing within Australia. There are horse racing tracks all around Australia with racing held on every day of the year somewhere with the exception of Christmas Day.
With a history dating back to the early 1800s, Australians have always loved a bet. A trip to the track or the local pub to watch the races can be overwhelming for newcomers to the sport with horse racing having its own language!
Below are 5 must-know betting facts to help horse racing enthusiasts get through a day at the track or down at the pub watching the “sport of kings”.
1. Types of Bets
There are a number of bet types that are available to bettors to enjoy on horse racing betting. The three most common bet types are listed here:
Win Bets are the oldest and easiest way to bet on horse racing. You choose a horse to win the race (first past the post) and if they win, you win! A Place Bet is similar to a win bet but rather than picking the winner, the horse only needs to finish in the first 3 in races with fields with 8 starters or more and in the top 2 in fields of 7 or less. Each Way Betting combines win and place betting. Put simply the bet is split with half as a win bet and the other half as a place bet. $10 Each Way equates to $10 win AND $10 Place and costs $20.
2. Factors Affecting the Outcome of a Race
Every horse race is like a blockbuster Hollywood movie! There are plots and subplots everywhere. The main difference is that while the movie lasts for nearly two hours, a race lasts 90 seconds or less.
There are a number of variables that affect the outcome of any race. Does a horse leave the barrier gates quickly? Is the horse on the back foot when the gates open? Will the jockey ride his/her mount hard early to find a good spot? Does the horse appreciate the track conditions?
3.The Form Guide
The form guide is the horse bettor’s bible and contains all the information to allow punters to make an informed bet on any race. It contains all the information about the upcoming race such as the horse’s name, jockey and trainer as well as the time of the race and the conditions of race (distance/who is eligible to compete). More importantly, the form guide has all the recent performances of the horse listed, this is called the horse’s “form” and hence the title.
This allows a bettor to analyse a horse’s recent performance and you form an opinion about their chances in the upcoming race. A trip to the track is not complete without a form guide.
4.Bankroll Management
Managing your betting bank is just as important as finding a winner. There is no point losing all your money early in the day only to see a horse that you have tipped salute at good odds. Depending on how many bets you place per race day, it is recommended that bets of between 1-5% of your bank (how much you have put aside to bet with) are placed. This allows you to ride out a period of losses and still be in a position to cash in when the results start coming your way.
5. Research and Analysis
The information age has made doing the form on racing much easier with statistical information and replays more accessible online than ever before. Analysis of a horse’s recent performance as well as jockey and trainer partnership statistics are a great place to start before placing a bet.
Does a horse prefer a certain track? Which jockey gets the best out of the horse? What trainer has been enjoying plenty of recent wins? Do the research and the rewards will come.
Conclusion
Horse racing today is one of the most exciting sports on the planet. The equine athletes are trained to the minute for peak performance by their trainers and partnered by brave and strong jockeys who attempt to get their mounts over the line first.
Placing a bet on a winning horse is exhilarating and rewarding. Betting with a licensed and respected online bookmaker is crucial. Palmerbet is an Australian-owned and operated bookmaker with three generations of racing experience. They offer great odds and racing promotions. Visit Palmerbet.com and start betting with them today.
