Horse racing is one of the most exciting sports to bet on and it can be very profitable. There are many different ways to bet on horse races, and there are several betting strategies that can be used. You should learn how to use the various types of bets so that you can maximize your profits. You can use WIN/Place/SHOW betting, Advanced Deposit Wagering, King’s Plates, Claiming races, and more.
WIN/Place/SHOW
When betting on horse races, you can place “Win/Place/SHOW” bets, which means putting money on a horse to win, place, or show. This is similar to parlay bets in other sports. It involves placing bets on multiple horses, each with their own odds. The winner of this type of bet receives both a show and place payout, while a third-placed horse receives only a show payout. Typically, racetracks have tote boards to relay this information to spectators.
Advanced Deposit Wagering
Advanced Deposit Wagering, or ADW, is a method of horse racing betting that requires you to fund your account before you can place your bets. This differs from credit betting, in which the betting site extends lines of credit to customers and settles the balance at the end of the month. Advance deposit wagering is generally limited to pari-mutuel horse racing and is popular in the United States. There are currently around a dozen ADW providers in the U.S., and the majority of them accept credit cards, debit cards, PayPal, and PayNearMe. You can then choose the horse you want to place your bet on.
King’s Plates
The history of the King’s Plates horse race dates back to the 16th century. The first recorded race was a three-mile event with a purse of 40 pounds. As the popularity of horse racing rose in medieval England, the King’s Plates began to become standardized events. Originally, the King’s Plates took place in Newmarket, Suffolk, which is considered the birthplace of English racing.
Claiming races
Claim races are a great way to buy and sell a horse at a track. In claiming races, the buyers claim the horse before the race and take ownership of it after the race. This is a great way to buy a good horse without spending too much money. Most claiming horse races are held on specific dates throughout the year and can be quite profitable. Prize money for claiming a horse can range from a few thousand dollars to well over a hundred thousand.
Across the Board
When betting on horse races, you might encounter the term “Across the Board.” This betting option involves betting on more than one horse in the same race. However, it does not guarantee a profit. In fact, it can lead to losses, if the horse isn’t the winner.
Pick 6
The Pick 6 bet is similar to the pick 3 and pick 4 bets. It requires luck, skill and deep pockets. You must have a good understanding of horse racing and handicapping to be successful at this bet.