Race Horse Betting – Top 10 Things You Need To Know Before You Bet

Horse racing is a popular sport and placing bets at racetracks has been a fun pastime for many years.  Often, news stations share stories of people who have made hundreds of thousands of dollars with just one small bet.  However, betting terminology used at the track can be confusing for those who are unfamiliar.  Before placing a bet at the track, there are ten things you need to know.

Straight Bets

Win, Place, or Show are known as “straight” bets in the horse race betting industry.  You can bet for a horse to win, to place, to show or to do any one of the three.  If you bet the horse to win, the horse must come in first; to place, the horse must come in first or second; to show, the horse must come in first, second or third.

Daily Double/Rolling Double

These are usually offered during the first and final 2 races of the day.  To win, you must choose the first place winner in any two consecutive races during the day.  In this bet, you only win if both of the horses come in first in both races.

Pick 3/Pick 4

In the Pick 3, the Bettor picks the winner of 3 consecutive races, while in the Pick 4, they pick the winner of 4 consecutive races.  Most tracks have a $1 minimum bet, making these types of races affordable for almost all track Bettors.  However, if one leg of the race is lost, the entire bet is lost.

Pick Six

One of the most difficult bets to win, but with some of the highest payoffs, is the Pick Six.  In this bet, you must pick the first place winner in six consecutive races.  At the 2003 Breeders Cup, there was only one Pick Six winning ticket which paid over $2 million to the winner.  However, betting on this race can get expensive as you must pick six winners at $1 or $2 per pick.  In order to increase the odds of winning, Bettors often choose more than one horse to win, which increases the cost of the ticket. The average price for a Pick Six ticket is $64.

Exacta

In this race, the Bettor chooses the horse that will come in first and second place in the correct order.

Trifecta

A Trifecta requires the Bettor to choose the first, second and third place winner in the horse race.

Superfecta

In a Superfecta, bets are placed on the first, second, third and fourth places in the correct order.  Like the Pick Six, this type of bet is difficult to win, yet can have very high payouts.  At the 2006 Breeder’s Cup, a Superfecta ticket paid over $100,000.

Boxed Bet

A boxed bet is betting all combinations in a multi-horse wager, such as an Exacta or Trifecta.

Odds of Betting

Odds are a way of showing how likely a horse is to win and what the payout will be if the horse wins.  Basically, odds state that for every dollar you bet, you will get a certain return on that dollar.  For example, if you bet $100 on a horse with 9-2 odds and he wins, you will receive $550 (9/2*100).

How to Place a Wager

In order to place a wager, the Bettor names the track where the horse is running and then states the race number they are going to bet on.  The Bettor then states the dollar amount of the wager, what type of wager it is, such as win, place, pick 3, etc., and the number of the horse or horses they are betting on.  Horse race bets are parimutuel bets, meaning the final payout is not determined until the pool is closed, usually after the race begins.

Race horse betting terms can be confusing, but by learning the various types of bets and the terms used in the horse racing industry, betting can be a fun pastime while visiting the race track.

Blinkers On

Blinkers On Racing Stable, a leader in thoroughbred horse racing partnerships, brings together the finest in thoroughbred horse racing expertise with the best in business know-how, and above all, a team of people you can trust, to manage your investment. We are committed to helping you experience the joys of thoroughbred horse ownership. For more information on thoroughbred partnerships visit our website or request an information package about our partnership. Keep up with horse racing in California by reading our Blog, finding us on Facebook, following us on Twitter, checking us out on LinkedIn, or visiting our YouTube Channel!

 

Thoroughbred Ownership – Claiming, Private, & Racing Partnerships

Acquiring a Thoroughbred

Thoroughbred Ownership – Claiming, Private, & Racing Partnerships

Thoroughbred horse racing, much like owning most sports franchises, is exciting and thrilling. However, horse racing is also an expensive sport with purchase prices for the animals ranging from the thousands into the millions.  This cost does not include the expense of feeding, training and stabling the horse.  Before investing in a racehorse, it is important to understand the differences in types of ownership.

Claiming a Horse

More than half of all horse races in the United States are known as claiming races.  In a claiming race, every horse has a price tag.  An interested owner places a “claim” on the horse before the race and when the race is over, they own the horse, even if the horse is injured or performs poorly.  In addition, the previous owner gets to keep any winnings from the horse earned from the claiming race.   This method of purchasing a horse is popular because the horses are claimed at lower prices; however, there are drawbacks.  A buyer may not have the horse examined by a veterinarian prior to the race, and, in most states, the person who places the claim must already have an owner’s license.  In addition, if the horse is claimed by one individual, that person is solely responsible for transport, feeding, training and locating a racing stable for the horse.

Private Ownership

When thoroughbreds are privately owned, there is usually just one owner who is responsible for all administrative decision-making and costs involved with the animal.  In addition, the owner must work closely with the trainer regarding training methods, which can be time consuming.  It also requires a significant amount of knowledge regarding horse racing.

Racing Partnerships

Racing Partnerships consist of two or more owners who invest a percentage of the initial cost to become a member of the partnership.  Racing rules require that at least two of the owners must become or already be registered owners.

Because racing partnerships enable an investor to own as much of a stake in a thoroughbred racehorse as he or she can comfortably afford, partnerships have become more popular over the past few years.  The annual costs of maintaining a racing stable, training fees and administrative duties do not fall to just one person; these tasks and costs are equally divided among a group, making thoroughbred racehorse ownership feasible for more people.

There are three different types of partnerships.

• Trainer-Managed – Trainers set up and run the organization, and often the trainer is one of the co-owners of the horse.  The trainer makes the majority of the decisions regarding the horse and handles most all administration duties regarding the racing partnership. In this type of partnership owners are not involved in day-to-day operations.
• Social Group – This type of partnership often is a group of friends, co-workers or family members who invest in the ownership of a racehorse.  Often one of the investors agrees to take on the responsibility of managing the administration of the partnership and deal with the employed trainer.
• Professional – Professionally run racing partnership operations are syndicates that sell fractional ownership in the horse.  Partners get the benefits of owning a racehorse without the responsibilities of day-to-day operations, which is why partnerships are growing in popularity throughout the United States.  In addition, a professionally run partnership makes ownership of a racehorse affordable for fans who want to do more than place wagers—they can be involved in many aspects of the racing day.  Partners have the privilege of watching their horse train and experience the excitement in the backstretch.  In fact, the entire family can be part of the experience of owning a racehorse through professionally run partnerships.  Some partnerships offer investment packages that include all fees while others bill horse-related expenses on a quarterly basis.  Another benefit to owning a racehorse through a professionally run partnership may be perks such as special thoroughbred ownership seating, access privileges, visits with the trainer, and greeting the jockey on race day.

Blinkers On

Blinkers On Racing Stable, a leader in thoroughbred horse racing partnerships, brings together the finest in thoroughbred horse racing expertise with the best in business know-how, and above all, a team of people you can trust, to manage your investment. We are committed to helping you experience the joys of thoroughbred horse ownership. For more information on thoroughbred partnerships visit our website or request an information package about our partnership. Keep up with horse racing in California by reading our Blog, finding us on Facebook, following us on Twitter, checking us out on LinkedIn, or visiting our YouTube Channel!