As you probably know, betting is one of the methods people use to improve their financial stability. In most cases, they will bet on sports such as football/soccer, basketball, American football, tennis, and others. However, it would be unfair to disclude horse racing from that list because that type of competition is also popular in almost every part of the world.
Logically, if you want to reach that goal with horse race betting, you will have to start from the very beginning. The journey that newbies need to pass is long. Because of that, they should primarily get familiar with some horse racing terms. They are a bit more challenging compared to some other sports, and that is the reason why we prepared a list of them that you should know. Let’s get started.
Basics: Win, Place, and Show
Before you even start your journey, you need to understand some standard bets that all the beginners should know. The good news about them is that they are all simple and easy to understand. However, the bad news is that things can become more confusing after that.
To start, you should understand three basic betting standards – win, place, and show. Win means that you are betting on a horse that will win (yes, this sounds obvious definitely). On the other hand, a place bet means that you are betting on a horse to finish in the first or second place. On the other hand, there is also a show, where you have the right to bet on a horse that will end the race first, second, or third.
Exotic Bets
Okay, here comes the moment when things become more confusing. Believe it or not, there are also some exotic bets that are recommendable only to more experienced bettors. Of course, even if you don’t have the necessary experience, you need to be aware of the potential risks you have to take. Winning money in this way requires an in-depth analysis of all the race participants, and some other factors such as weather, form, etc.
Anyway, to start, we should highlight four horse racing terms – daily double, superfecta, trifecta, and exacta. Let’s describe it one by one.
Exacta refers to a bet where you can pick the participants that will finish 1st and 2nd in the race. Trifecta, as you could probably imagine, allows you to bet on the top 3 finishers of the race. In the end, superfecta allows you to bet on the horses that will end up the race in the 1st, 2nd, 3rd, and 4th place.
However, these terms are not the only ones. If you want to risk even more, there are some other terms all the horse race betting beginners should know. For instance, you can bet on a daily double. This type of bet allows you to bet on the winner of two consecutive races. As you can see, this type of bet will only bring you money if you are an experienced bettor. Amateurs will only manage to achieve that if they are too lucky.
Despite that, you should also get familiar with phrases such as Pick 3, Pick 4, Pick 5, and pick 6. When you decide to bet this way, you need to predict which participant will win in three, four, five, or six consecutive races.
Void Bet
Let’s use one bad moment when you could potentially hear this horse race betting term. You made a bet and you won, but when you want to withdraw money, you see that you deal with a void bet. That means you are not able to take your money because the bet is declared invalid. You will only get your stake, and that’s all.
Score, Ton, and Monkey
All these terms may not be too valuable for you, but they will make you feel like a professional. Beginners often get confused when they hear the score, ton, and monkey. They can’t understand how these phrases are connected with horse bet racing.
Well, let’s explain. When you hear “score”, someone tells you to, for instance, place a wager of $20. Ton serves as a synonym for all the $100 bets, while monkey describes an investment of $500. If you start betting on horse races, you will probably be surrounded by people that have the same habit. Because of that, it will be much easier for you to communicate with them by knowing these phrases. As mentioned, you will also feel more professional, and that may improve your self-confidence when betting.
Price
Have you ever placed a bet on a hockey, tennis, or basketball game? Well, that means you are familiar with the phrase “odds“. Price is exactly the same as odds, and it refers to your chances to get money when betting on a particular horse. Logically, the price will be lower on the favorites, while the offers on underdogs will be much higher.
Betting Exchange
Well, you probably plan to bet on betting websites against the bookmaker. The online bookmaker will give you prices, and it is up to you to predict certain things. However, you do not always have to bet against betting sites. If you want to bet again other people, then you should visit different betting exchanges. They connect you with passionate horse racing bettors that have the same goal as you. Competing against others will make things even more entertaining.
Multiple
The last phrase beginners should get familiar with is Multiple. Believe it or not, you can place a single bet on multiple horses. It doesn’t matter whether you decide on the simples bets or you plan to invest your money in more complex ones. Whenever you bet on a few horses at once, you are making a “multiple bet”.
Final Thought
Now when you know some of the basic terms, you are ready to continue your journey. Before everything, you need to improve your betting skills, and doing that is possible only if you are ready to make multiple in-depth analyses all the time. Despite that, you will also have to find the best online bookmaker for horse racing. The good news is that there are many of them such as TwinSpires that are an excellent place for all horse race betting supporters. Are you ready to take action?
