Just because you came in first in the loser’s bracket of your dream league doesn’t mean you’re a veteran gambler, which is precisely why we’re here with an easy-to-follow guide on how exactly to make money at the racetrack, whether you are a beginner, a veteran, or just a really, really rich person who is tired of only hanging out on private islands.
Horse betting for beginners
Once you enter the Grandstand — the place where everyone hangs out and gambles — you will need to know a few things to start tapping that bankroll and making a cent or two. Here’s a basic primer:
Since the dawn of time, the common increment was $2. It’s true that you can bet a crisp $100 bill, too, but we’d suggest starting with a two-spot.
Should you bet the favorite (or the”chalk”) each time, then you’ll have approximately a 33% probability of winning. Not bad odds, right?
You’re going to be betting in a parimutuel environment, meaning all bets of a particular kind (see bet types below) are put into a pool. Winnings come out of the pool. So it is unlike poker or blackjack, where you’re betting against the House. Here, you are up against other horse bettors.
Normal or”straight” horse bets come in three forms: Win – You’re gambling on the horse to cross the finish line — i.e., to win the race. Place – You’re betting to enter either second or first. Show – You’re betting on a horse to come in first, second, or thirdparty. NOTE: The previous two wager types are the most easy way to get acquainted with enjoying the races. We would suggest before falling dough that is serious, making a couple of them.
Horse betting is all about the odds. If you bet $ 2 with 2-1 odds on a horse to Win, you double your money. To put it differently, multiply 2 x 2/1 + your $ two wager that is first. Mathematics skills go a long way in mature life.
Beginners should place bets at a window, manned by a human being. There’s a degree of comfort you achieve standing face-to-face using a person and reading your bet to them — rather than using a digital gambling machine or ADW (which we’ll touch upon later).
Horse gambling follows a sequence. Let us say it is the 5th race and you want to bet on horse No. 4: strategy the betting window and announce to the teller,”At Aqueduct, at the 5th race, I’d love to put $2 to win on the No. 4 horse”. That is the way you place a bet at any track: Racetrack, Race, Dollar Amount, Bet Sort.
Once your bet has been placed, the teller will give you a ticket, which will have your exact bet on it and, like a lottery ticket, you are able to swap it for cash later if your bet is”in the money”. Keep it safe on your sweet fanny pack. *