Thursday, 9 July 2009

Four things you need to know before betting on horse racing

Even the very basics of horse betting can seem to be a little overwhelming. It may take more than just a few bits of advice from a tipster service or help from a fellow better. Give yourself a few days time before planning to make your first bet so that you can take the time to get to know the basics. Here are some tips on the basics that can help you get to betting quicker.

Step 1- Know the basics and differences between standard, tote, and spread betting. The easiest bet to place is the standard bet where you place your bet based on the odds that the bookmaker has given you. The best thing about standard betting is that you can see before hand the amount of money you stand to win, and also the amount that you stand to lose, before you place the bet. It makes it easier if you have a limited amount of money that you can spend. There's also not much flexibility in the bet so it makes it a little more straight forward than other types of betting. This is the best type of betting for a beginner.

Step 2- Know and understand the type of bet you are going to place before heading to an online betting website or to the bookmaker at the race track. The basic bets that you can place, no matter what style of betting, is the win, place, or an each way bet. A win bet, just as it sounds, pays when you bet on the horse that you think will win. As long as it comes in first you get a payout. The payout depends on the odds of that particular horse winning; the higher the odds, the higher the pay. A place bet pays when you bet that a horse will be in the top two. There must be at least five horses running to make a place bet. If the horse comes in either of those places you will get payed. An each way bet is like mixing a win bet and a place bet together. If you pick a horse that places you win, and if that horse wins, you get paid twice since it placed and won.

Step 3- Because of all of the different ways that you can place bets now, it may be better to limit the places that you bet as a beginner. At the race is the only place that you can listen as other betters get tips and watch as they place bets. When you place bets online you have to depend on your own knowledge so it may be better to wait until you have a better understanding before attempting to bet from home. Betting at the track will help you to get a good idea of how betting works as well as it will be more fun.

Step 4- When collecting tips and information offered to you, whether through a tipster service or online, make sure that you know where the information is coming from. Some tipster services are fraudulent, charging you for information that they know is not accurate. Just because you are paying for a tip, does not mean it will actually make you win, and a free tip may be just exactly what you pay for. Nobody guarantees a win, it is gambling after all, but some tips will help you to get closer to winning.

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