How to Bet at the Track

Betting on horse racing is parimuteul gambling in which all bets are placed in a pool and shared by winning participants. The final payoff is calculated after the betting is closed. Do a little research before placing a bet or just go with your gut. Either way, betting at the track is simple to do; it's winning that isn't always so easy. Read on to learn more.

Instructions

Difficulty: Moderately Easy

1. Use the track program to learn about the horses running in each race. Each horse is assigned a number that is used when placing a bet.
2. Read about each horse's past performance in races of a similar distance. Look at the current odds posted and determine who the favorites are. The odds change as more people place bets and the race start time approaches.
3. Identify the top jockeys, trainers and breeders. All these people contribute to a horse's ability to win. Next to the horses, the jockey is the most important criteria to look at when picking a winning horse. Track programs include the success rates of trainers, which is useful information to know.
4. Decide how much money you want to bet on a certain race. More than one bet can be placed on a single race. You can have a strategy of betting on "favorites" to win or going for long-shots with the opportunity to win a greater amount of money.
5. Get in line at a ticket window to place your bet. Make sure you get in line well in advance of the race start time. You can be "shut out" of betting if the betting closes before you are able to place your bet.
6. Place a bet by identifying the race, bet amount, horse numbers and type of bet you want to place. There are many types of bets including a straight bet, quinella, exacta and trifecta. The minimum amount you can bet various depending on the type of bet.

Tips & Warnings

• Don't assume that the favorite for the race is the best horse to bet on. This is the most popular horse but may not be the horse who wins. If the favorite does win, the payout will be much lower because there are so many people betting on this particular horse.