Horse racing remains one of the most popular sports to bet on across the globe in 2023, with a higher percentage of bettors wagering their betting funds on the most significant races.
Therefore, it comes as little surprise that millions is wagered on races such as the Kentucky Derby, Belmont Stakes, and Breeders’ Cup Classic. But, what are some of the most popular types of betting markets when it comes to wagering on horse racing across the world?
Win Betting
The most popular type of wager available to horse racing bettors is the win betting market. Here, the bettor will be wagering their money on the runner that they believe will win the race that they are involved in.
The returns are only awarded to the player if their selection is correct. Therefore, if the horse selected finishes second, then the bet is settled as a loser and the stake is lost.
Read more about this type of wager here: https://www.twinspires.com/wagertypes
Place Betting
Place betting is a popular wagering option when it comes to making bets on the horse racing for some of the biggest races on the calendar. That includes races such as the Kentucky Derby and Breeders’ Cup Classic, which typically attract a bigger field of runners. In this market, the bettor will be looking to find a horse that will finish in the first two places.
It is a popular betting option when it comes to wagering on a potential runner at higher odds. However, it’s important to remember than in America, place betting only covers two places. Meanwhile, in Europe and the rest of the world, place betting may cover three or more finishing positions.
Show Betting
Show betting is very similar to place betting, but the difference is the fact that this market will also cover the third finishing position. Therefore, it is also a popular market when it comes to wagering on big fielded races, as it offers bettors an opportunity to gain returns on an outside selection in the betting.
Show betting will see bettors get returns from their selection if they finish first, second, or third. The returns are the same regardless of whether the selection wins the race or finishes third.
Exacta/Trifecta Betting
Exacta and Trifecta betting remain among the most popular betting options for the most experienced gamblers. However, they are likely markets to be avoided by newcomers, as bettors will need to do extensive research before making their selections.
To land an Exacta, bettors must successfully predict the runners that finish in first and second in the correct order, while bettors must also predict the runner that is third to land the Trifecta. Both bets can be hugely lucrative if you’re successful. There is also a good alternative method to this market, as bettors can include selections into a box, meaning that they will be paid out depending on the selections that finish in the first two or three positions.
Multiple Betting
Creating parlays is one of the most popular betting options when it comes to placing bets on sports such as basketball, soccer, and American Football. However, bets on horse racing can also be done with many of the leading sportsbooks.
It is one of the most challenging markets to gain returns, as all selections must be correct, but it can be incredibly lucrative if you manage to predict two or more winners in a parlay. However, it is worth remembering that if one selection lets you down, then the stake and bet is lost regardless of the other outcomes in the races that you have selected. But, horse racing parlays are typically very popular with experienced and knowledgeable bettors.
