Racing itself is a pleasure and thrill to watch, but some people do like to increase the stakes and include their money in the game. It’s one of the many reasons why betting in events like horse races became such a huge deal for people involved. This probably instills a sense of involvement, competition, and accomplishment whenever they join despite presenting huge risks.
Horse racing is one of the few sports where betting is a common complementary activity. Placing money on the racing horses, or thoroughbreds, is considered audience participation where fans could win money as the horses and their owners do. This plays a massive deal during big horse racing tournaments such as the Kentucky Derby.
For people who are attracted to the sport and want to try betting with their own money but have no knowledge and experience whatsoever, having guides from the veterans and professionals would be of great use. Here is a rundown of what to do when participating in horse race betting for a practical experience when you bet the Kentucky Derby.
Top Horses and Monitoring Them
To bet on a horse race, first, you must pick a horse or two to root for. Many thoroughbreds have raced throughout the years, but the ones usually rooted for are the horses that have performed spectacularly during derbies. It’s reasonable to think that betting on the top horses might give you an advantage on race day.
There were instances of having upsets during derbies, with longshots winning at least one of the top three places. Checking up on thoroughbreds conditions would be advisable if you want to ensure your bets come with a solid standing from the favored horses.
The Kentucky Derby includes a pre-derby run where registered thoroughbreds are put through a series of races, evaluating them to see whether they qualify for the tournament or not. Points rank the horses, which means the more races you win, the more points the horses have. They still get points so long as they finish at least third.
Types of Bets
There are various bets to be placed, but first, you have to know in what places your bets pay off. Horse betting employs a win-place-show system, where it pays off to have your favored horse be at the first place, or win; place, either first or second. Or show, where the horse is in the top three finishers. All these are the basic bets employed by the bettors.
Other bets are based on finishing place but are more advanced. Advanced bets consider if the favored horses win in exact places or strict order, or if your favored horse places first for several consecutive races. For the strict order bets, there are quinella, Exacta, trifecta, and Superfecta. For consecutives, there is the daily double, ‘pick 3’, ‘pick 4’, and ‘pick 6’.
Quinella needs your horses to finish first and second, in any order, while Exacta needs the horses to finish first and second in the exact order you put. Trifecta requires the horses to win the top three in exact order, and Superfecta for four horses. The consecutives need horses to place first in consecutive races indicated by the number in the bet.
Bet Money
Just as there are varieties of bets, there is also a range of allowable bet money placed on thoroughbreds on various racing tracks. These range from Class A to Class C/D, with A being a major track and C/D being minor tracks. Given that the Kentucky Derby is a huge horse race, it would be played on a major track.
The major tracks set their maximum bets from $25 up to $500, depending on what type of bet you place. Regardless of track and bet type, the minimum bet is set at $1-2. The risk also increases the more complicated and advanced the bet type, but it pays off more given that your favored horse wins. You are free to bet any amount of money you can, so long as it’s within parameters.
How to Place Bets
Now, you have a rundown of the thoroughbreds racing, the type of bet you may place, and the amount of money you can offer on the bet. You only need to place the bet.
The question is, how?
There is a particular proceeding upon placing bets: stating the racetrack, the race number of your favored horse, how much money, the type of bet, and how many horses you want to bet on, in that particular order. Given that it’s the Kentucky Derby, it’s going to be played on one track so that you could proceed with the other details of your bet.
Takeaway
Betting on horse races is a delight for some people, while others invest most of their resources and time participating in those bets. Having tips from them is recommended even if you only look to try betting for fun and the experience. Using these tips can help you have a good time on your first try or if you want to continue betting on horses.
