Horse Betting 101: Brush Up on Popular Horse Bets in Your Book
April is when Kentucky Derby preps heat up. Kentucky Derby prep races leading to the Triple Crown races. Triple Crown races are the most popular horse races during the entire year.That’s why it’s a good idea for online bookie agents to brush up on their horse betting terminology.
Horse Betting 101: Brush Up On Popular Horse Bets in Your Book
Take it from a former horseplayer, the online racebook is a verifiable money printing machine. If all an agent has are thoroughbred race betting clients, that agent should make unbelievable profit every month.
To attract horseplayers, agents must understand bets offered. Here’s a reminder.
Horse Racing: Straight Bets
Straight bets are often called traditional horse racing bets. Straight bets are wagers that involve a single horse.The only three types of wagers that can be considered straight bets are wagering on a horse to win, wagering on a horse to place, and wagering on a horse to show.
See below for more info on win, place, and show betting.
Win: The horseplayer bets on the equine to win a specific race.
Place:The horseplayer bets on the equine to finish second in a specific race.
Show: The horseplayer bets on the equine to finish third in a specific race
Horse Racing: Exotic Bets
Exotic bets can take two different forms. There are vertical exotic bets and horizontal exotic bets.
Vertical exotic bets are also called intra-race exotic bets. Vertical exotic bets include exacta, trifecta, and superfecta wagering. Check out definitions of each.
Exacta: The horseplayer picks the top two finishers in exact order in a specific race.
Trifecta: The horseplayer picks the top three finishers in exact order in a specific race.
Superfecta: The horseplayer picks the top four finishers in exact order in a specific race.
Horizontal exotic bets are also called multiple race exotic bets. These wagers take place over two to three to up to six races.
Daily Double: The horseplayer picks the winners of two consecutive races.
If it’s a Pick 3: The horseplayer picks the winners of three consecutive races
Pick 4: The horseplayer picks the winners of four consecutive races
Or a Pick 5: The horseplayer picks the winners of five consecutive races
Pick 6: The horseplayer picks the winner of six consecutive races
It’s important to understand that pay per head agents do have risk when they offer horse racing betting. Odds in horse racing are often much higher than money line odds in sports betting.
Exacta payouts, as an example, can easily exceed 20 to 30 to 1. Trifecta payouts can exceed 100 to up to 1,000 to 1.
If a lucky horseplayer hits a Pick 4, the payout can exceed over 5,000 to 1. That’s why it’s important that per head agents set max betting limits on all races.
They should then set max win limits on all individual races.
Here are examples:
The most a horseplayer can wager on a single race is $200. That $200 can be made up of horizontal or vertical, straight or exotic wagers.
The most a horseplayer can win on any race is $5,000. Agents should also stick the $5,000 rule when it comes to wager types.
For example, the most a horseplayer can win on a single Pick 6 wager is $5,000. That’s even true if the Pick 6 pays out $100,000 at the racetrack.
Keep in mind that this is your online racebook. You’re not acquiring 20% of every dollar wagered the way that racetracks are.
Set up rules that benefit your business.
Remember to have an online racebook that offers the most exclusive tools, like the BetAlert tool, which will allow you to see all the horse bets coming through in your book.
PayPerHead.com offers the most tracks in the industry, which allows players to place horse bets nearly every day of the year.
Get PayPerHead’s Prime Package now for 50% off the regular price, and be sure you can make the most from all the horse best that comes through your racebook.