VSiN horse racing expert Mike Somich breaks down all you need to know for betting on horse racing on DK Horse.
Watch the videos below for his horse racing 101 betting tips and check back later this week for more free breakdowns!
Mike’s Horse Racing 101 Betting Tips
Sports Betting vs. Horse Betting
There are some similarities and differences when you’re betting on traditional sports and when you’re betting on horse racing. Some of those key differences include how your bet is actually handled and who you’re competing against.
Example: You want to bet on the Chiefs to win the Super Bowl -1.5 points—you’re betting directly with the sportsbook, and those odds won’t change once your bet is made, even if the odds change closer to game time. It’s the fixed odds market. In horse racing, you are betting into what is called a pari-mutuel market, which is a pool divided by the number of winning tickets. And, because that pool remains open until the start of the race, the odds can dynamically shift based on all the bets that come in, thus changing your potential payout with a winning bet.
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Win, Place & Show Bets
Let’s talk about the three most common bets in horse racing: the win bet, the place bet, and the show bet. A win bet is placing a wager on a horse to cross the finish line first, thus winning the race. With a place bet, you’re picking a horse to finish first or second. A show bet allows you to put a wager on a horse to finish first, second or third.
Of these three bets, a win bet is the highest risk with the highest potential reward. Since only one horse can win a race, you’ll see those odds for each horse to win listed on the DK Horse app and on the tote board. These odds will change dynamically right up until the start of the race.
A place bet offers medium risk with middling rewards, since two horses in the race will pay out to place.
A show bet is a low-risk, low-reward bet with three winning horses in each race.
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Betting on horse racing online has never been easier or more fun than with DK Horse. Add to the excitement of watching a race live by placing a wager on your picks and cheer them on to victory! Check out the upcoming horse racing schedule and bet on horse racing events, including the Kentucky Derby, Preakness Stakes, and Belmont Stakes, the premier races that make up the Triple Crown.
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