A classic and exciting way to gamble is by betting on horse racing. Horse racing has been called “The Sport of Kings,” and has been the subject of wagering for centuries. If you’re going to bet on horses, here are a few things you should know.

Handicapping Horse Races
When experienced bettors bet on horse races, they don’t just base their bets on which horse has the best or worst odds, or which horse looks the best. As with any other form of gambling, horse players are trying to get an edge. That is, they are trying to figure out which horse has a better chance of winning than the posted odds suggest. If they think a horse that is listed at 2-to-1 will win more than one time out of three, they will want to bet on that horse. If they think a horse that is listed at 50-to-1 will win more than two percent of the time, that’s a horse they will bet on too. The way they make this determination is through handicapping. Handicapping is the art of looking at a racing form and making assumptions about a given horse based on the information on this form. For example, a certain horse may be a front runner, which will be better for short races, while other horses like to come from behind, which may be better for long races.

Betting on Horse Races
Of course, betting on a horse to win is just one way to bet on horses. Most horse bettors like a variety of bets, including exotic bets like the Exacta (sometimes called Perfecta) which is betting on two horses to win and come in second in a specific order, a Quinella (the same, but the horses can finish in either order) or a Trifecta (first, second and third in order). It is also possible to “box” horses so that you win your exotic bet if any of your horses come in the top two (or three) spots, but these bets cost more. You can even do a wheel or partial wheel where you “key” one horse to come in a certain spot, and win the exotic bet if your other horses come in either way in the other two spots.

Winning at Horse Betting
There is no sure formula for winning at the track. If you bet the favorite to come in either first, second, or third (a “show” bet), you’ll probably win most of the time, but you’ll win so little that one loss will usually wipe away your winnings. On the other hand, if you bet all long shots, it could take several sessions before you win at all. Your best bet is to handicap as best you can and make the bets that you think will be the most fun for you.