Horse betting has been the source of great excitement for sport lovers, especially for equestrians. It is a popular spectator sport and hobby for many people. The popularity of horse betting can partly be attributed to the glamour and interest surrounding professional sport events. There is also the ever-present threat of being stoned for betting under the Racing Authority Act in the United Kingdom.
Betting on horse racing dates back to the 16th century, with bettors using their merest imagination to conjure up events that could occur. Inevitably, many people have a wager on mysterious ‘mysterious’ events and as a result, we have had some interesting legends and myths to surround the sport. One of the most persistent ideas surrounds how the race track was established. Legend has it that the first ever race was held on a tote board, which has been subsequently known as the ‘board of gates’ at Cheltenham.
If you are wondering how the horse racing odds are arrived at, here’s the history and it’s fun factoids. Race tracks were initially built by rich landowners to use them to create a source of income. Initially they placed horse races on steep banks, but later on steep slopes were used. These slopes were chosen because they offered excellent cover from weather conditions. Also, the steep sides of the banks provided better traction for punters.
When a race was first proposed, there was no guarantee that any particular horse would win. This was because no one knew for sure how the race course would shape up and how the roads would cope with large numbers of punters, jockeys and animals. This uncertainty was part of the allure of the race, which to many, was the main attraction of the event. However, by putting a little common sense into the equation, the odds did start to work out in the right direction and eventually punters did start winning more often.
Since then, the concept of horse racing odds has been used in the place of bets. Today you would bet on favourite or second favourite and not go in with a very high chance of losing the bet, even if it is a very high price. There is also the ‘pin-the-tail’ bet where the bettor pins his tail on the horse he thinks will win, if he loses that bet, he has to shave off his tail, which ups the stakes even further. The bets are more likely to pay off when the horse you pick is a favourite and you have some inside track.
Trifectas are another way of backing your horse by placing three bets. The first one is the exacta bet, the next is the trifecta bet and finally, the trifecta, but without the exacta bet, you can’t place any bets on the exacta. So if you do win that trifecta bet, then you win the exacta bet, but you can’t win the trifecta without the exacta.
The odds on a trifecta are generally lower than for all the other bets in the box. For example, the exacta has the lowest odds in the box but pays off better than the trifecta when you compare track positions. It’s usually a better idea to bet trifectas but not the exact, because the trifecta has better chances of paying off. This is because you get better line moves with them and they cost less to place than the exact, so if you want to make money off the trifecta bets, use the exact instead of the trifectas.
It is not necessary to pay a lot of money to bet with the exact order or to bet the exact amount as you see on the track. However, if you do have the money to spend, you can usually find better odds on the trifecta than you can on the other three winnings. You will have better line moves with the trifecta and the payouts will be higher, so it really does pay off to have the money. If you’re just starting out, though, the exacta is usually a good bet.