If you’re reading this article, chances are you’re getting into horse racing for the first time and are wondering how to go about placing your first bet.
If that’s the case then fear not as we cover everything you need to know about making your first horse racing wager online below.
Step One: Pick a Reputable Sportsbook
The first thing that you’re going to want to do is find a reputable online sportsbook to meet all your horse racing betting needs.
What constitutes a good sportsbook differs from person to person, if it were ourselves we would go for Draft Kings, which you can take a look at by clicking the link above. That’s because we like the way their website is set out, we think they offer good odds and we’ve never had a problem making deposits or withdrawals.
Now, Draft Kings might not be for you. You could be a money oriented gambler who is razor focused on the best odds and be better suited to hopping from sportsbook to sportsbook in search of the latest bonuses and offers.
Whatever your needs, there is a sportsbook out there for you so first work out what’s important to you when it comes to your online horse racing betting and then pick a sportsbook that excels in that area.
Step Two: Create an Account
Now you have decided which sportsbook to bet with you need to open your betting account. That’s typically a fairly straightforward process that involves you entering data such as your full name, date of birth and address.
Before you start make sure to have to hand ID as most sportsbook require you to upload either your driver’s licence or passport to confirm your identity.
Step Three: Make a Deposit
Sportsbook selected, account made now it’s time to make your first deposit and fund your account.
Nowadays there are a myriad of different ways to make deposits and fund your account, you can:
- Make a bank transfer
- Pay by card
- Use cryptocurrency
- Use Google Pay, Apple Pay or PayPal
Ultimately the decision is yours but we would recommend the final option, using Google Pay, Apple Pay or PayPal. That’s simply because these are the safest way of making online transactions as they never share any of your bank details with the merchant.
Step Four: Study the Race Card
With the money in your betting account it’s bound to be burning a hole in your virtual pocket but slow down slick, there’s still a lot of work to do before you place your first bet.
In order to make the most out of your experience you are going to want to ensure that your bet is as informed as possible.
Most sportsbooks have online race cards that allow you to access all the relevant information about each runner and rider. Here you can check the form, see how your horse performs on certain tracks, check their probability of placing etc.
If you want to go the extra mile you can do more research online to make sure that you’re covering all bases before…
Step Five: Place Your First Wager
Now you know everything there is to know about the horse you want to back, it’s time to put your money where your mouth is and make your wager. But are you totally sure of what type of bet you’re going to place? Before clicking confirm, here are some of the main bets to look out for and a brief explanation of what they involve:
Straight Wager – As the name suggest, straight wagers on a particular outcome, some of which include:
Win: Betting on a particular horse to win a race
Place: Betting on a horse to finish in first or second
Show: Betting on a horse to finish in first, second or third
Across the Board: A bet that includes all of the three bets above
Exotic Wagers – As the name suggest, wagers that are more out there and based on multiple outcomes.
Exacta: Betting on two horses to finish first and second in exact order
Quinella: Betting on two horse to finish first and second in any order
Trifecta: You guessed it, betting on three horses to finish first, second and third in any order
Superfecta: Betting on four horses to finish first, second, third and fourth in exact order
There are a couple of other wagers you can make but these are the main ones that you will be making.
Step Six: Wait in Agony
No-one ever said it was going to be easy. Betting on horses is agonising as all you can do is sit in your
seat and will your horse to victory or close your eyes as they fall at the first hurdle!