Horse betting is quite a well-liked type of gambling all over the globe. Equine betting alone has been around for centuries and, for a long time, was the entertainment of the upper classes. These days, nevertheless, horse betting has become widely available to all social classes, as online horse racing betting websites provide bettors with the opportunity to place wagers from their own homes.
However, with their legacy, horse betting terms can be quite confusing for newcomers to the sport. Say, when you play roulette in online casino, all you need to know is the value of your chips (and how much you can potentially win). In horse betting, however, you need to know what exacta and pick five are.
Have a look at our glossary below, which should help clear up any confusion with regard to horse betting terms. Read on to find out more about the language of this popular sport.
Common Horse Betting Terms
Imagine you have already found a reputable bookmaker and decided which race you want to place your money on. Now you’re faced with a list of horse betting terms that you knew nothing about yesterday. If this sounds familiar, read on to find out what some common staples really mean when it comes to horse racing and placing bets.
Win
Basically, this term means that your chosen horse should come first in the race. This is usually what newcomers to the sport will opt for, as it seems like an obvious choice – relatively low risk but high potential rewards.
Place/Show
If you place a ‘place’ or ‘show’ bet, your horse does not need to come first, but instead on the first or second place for ‘place’ and first, second or third place for ‘show,’ respectively. This means that the risk of losing your money is decreased, but you might not receive as high of a reward if your horse does win.
Exacta/Perfecta
These terms refer to when you bet on two horses that will come first and second in that order. This can be a very risky bet, but if you get it right, the rewards are usually quite substantial.
Trifecta/Tierce
A ‘trifecta’ or ‘tierce’ bet involves betting on three horses that will come first, second and third in a particular order. This is one of the hardest bets to get right; however, you can also make some serious money if your prediction turns out to be correct.
Daily Double
Daily double bets involve placing bets on two different races, for example at UFA100, that are held on the same day, typically consecutive ones. This is a good option for people who want to increase their bet’s potential without increasing the risk.
Pick 3-6
Pick 3, 4, 5, or 6 involves betting on winners of consecutive races, just like the daily double, but with more races. The odds of winning are obviously lower, but you can make a bigger, much larger profit if your predictions turn out to be correct.
The Odds
Horse betting works a little differently than other types of gambling. Instead of betting directly against the house, you are essentially competing with other bettors. This means that the odds of a particular horse winning are determined by how many people have placed money on it, and this can change up to a minute before the race begins.
The odds are typically expressed in terms of ‘to win’ or ‘to place.’ For example, if a horse’s odds are 7 to 1, it means that for every £1 you bet on the horse, you will receive £7 in return. However, as we have mentioned before, with other types of gambling – don’t rely too much on your gut feeling when placing bets.
Your strategy should be based on research and logic. This means that you need to study the records of both the horse and its jockey, as well as their performance in past races. Only place bets on a horse when you are sure that it has good chances of winning based on its previous performances.
Where to Bet
This is a question most people will ask when they first start betting on horses. There are plenty of options for online horse racing betting, and you should always look for a reliable website that has been around for a while.
Try looking for websites that offer a welcome bonus, as this will give you some free money to test out the bookmaker’s services. Another important thing to look for is how many options there are when it comes to horse betting terms and payment methods.
Final Thoughts
Horse betting terms can be quite confusing if you’re new to the sport, but with a little bit of research and practice, you should get the hang of it in no time. The terms above are some of the most common staples you will encounter when placing bets on horse races.
It is important to remember that research should be a crucial part of your strategy and only place money on horses that have good chances of winning, so make sure to do it before deciding which bet to place. Good luck!
Suzanne Ashton, Founder of Everything Horse (Est, 2012), has a BA Hons in Marketing Management and a Diploma in Equine Science. Suzanne has ridden and owned horses all her life and has twelve years of experience in marketing, writing, design, SEO, and website creation.