Horse Race Betting for Novices: A Guide

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Horse Race Betting

Horse racing is a famous spectator sport in Australia, and its admiration across the country, especially in the Northern Territory, makes it a multi-billion-dollar betting sector. So, if you are looking for some profitable fun, this is just the place for you.

Contrary to popular belief, betting is not all luck. It also involves hours of calculations and analysis to find the best odds to maximize your chances of winning. However, if all the research is not your cup of tea, you can find sites with free horse racing tips in Australia

So, the following article outlines the types of racing bets in Australia and the modes to place them for race betting beginners.

Types of Horse Racing Wagers

There are two categories of bets in thoroughbred racing: straight and exotic. In a straight wager, you bet on a single racehorse per race. Whereas, in an exotic wager, you can place multiple bets on multiple horses. 

As a novice, it is advisable to start with straight wagers and then progress towards exotic ones. Meanwhile, the only way to improve your betting skills is with experience and by using all the free horse racing tips in Australia

Here is a low down on the significant bets under these two categories:

Category Bet Type Description
Straight Win Your horse should finish 1st in the race. The odds determine the payoff.
Straight Place Your horse should finish 1st, 2nd, or 3rd in the race. Lower payoffs than win.
Straight Each Way You put equal money on a horse to Win or Place.  
Exotic Quinella Your picks must place 1st or 2nd in either order. 
Exotic Exacta You must pick the horses that will place 1st and 2nd and their winning order.
Exotic Duet You must pick 2 of the top 3 horses in any order. Three payoffs for different combinations of bets. 
Exotic Trifecta Your horses must finish 1st, 2nd, and 3rd in the exact order.
Exotic First 4 You must select the first 4 horses in exact order.
Exotic Daily Double You must pick the winner of two races (usually the third-last and last race) simultaneously. These bets have high payoffs.
Exotic Treble Is similar to Double, but here you pick the winners of 3 separate races. 

 

Where to Place Bets

Depending on whether you are watching the race at the track or following the action online, the modes of placing your bets will vary. So, here are your options if you are physically at the race:

  • Teller: You can choose any Totalisator facilities available on the course. A teller will assign your bets at tote board odds.
  • Bookie: Bookmakers or bookies are open to negotiation regarding odds prices. And since they often compete with the other bookies, they might offer you better odds than anywhere else.

So, if you prefer to enjoy the race from the convenience of your house while still making a quick buck, you can go for an online racebook. For that, you may look for a racebook for Australian races and fund it using your bank or bitcoin account. This way, you can place a wide variety of bets and get access to a live feed of the races, all from the comfort of your home.

Thoroughbred betting is an exciting avenue to win big. However, it is important to remember that your real money is at stake. So, it becomes crucial always to place clever and informed wagers. And nowadays, you need not spend any money to get expert tips about horses and jockeys. Simply sign up to a site offering free horse racing tips in Australia and find all the information at your fingertips. As such, place intelligent bets and stand a chance to earn big money!

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