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Horse racing, also known as the sport of kings, is one of the most popular sports in the world. Horse racing is a huge sport and a popular one to gamble on in countries such as the United Kingdom, Dubai, the United States and here in Canada. Gambling on horse racing is not the same as gambling on other sports, and there are several ways that you can approach a bet on a horse race. This apples both to thoroughbred horse racing, which is the name for “standard” horse races where a jockey rides atop a horse, and harness racing, which is when the jockey rides in a two-wheeled cart which is known as a sulky.
In Canada some of the most famous racetracks include the Mohawk Raceway and the Woodbine Racetrack, both of which are located in the province of Ontario. There are ask other racetracks around the country, all of which offer trackside betting, and there are also plenty of ways to bet online. If you fancy your chances on any of these races then check out your options below when it comes to gambling.
Wins and Each Ways
One of the most common ways to gamble on horse racing is to bet on the winner or the placer in a particular race. A “win” bet is standard and is placed on the horse that you think will win the race. If you do not bet on the favorite then you stand a chance of getting a very good return on your money if the horse comes good for you. Many punters not betting on the favorite will opt for a “place” or an “each way” bet. In the former you are betting on whether or not the horse will place, which usually means they will finish in the top three (although it depends on the size of the field and will decrease for a smaller field, and increase for a larger one). If the horse wins the race then a place bet will also pay off.
An “each way” bet is effectively a double bet and one that requires twice your stake. If you place $1 each way, then the total will be $2. If the horse wins the race then your total winnings will be the same as if you had placed a bet of $1,50 for the horse to win, but you will also get a payout if the horse is placed. How much you get depends, but for a standard field of horses, you will get 1/4 of the odds for one of your $1 bets. This is why each way bets are typically reserved for those with an outside chance and those carrying huge odds.
If you are looking for a bet that will give you a huge return for very little money, then you should opt for what is known as a “trifecta”. In a trifecta you are betting on who will win the race and who will place, and you are also betting on the exact positions that they will place. So, for a standard field of horses where you will be paid for three placers, then you need to pick who will win, who will finish second and who will finish third. These three places and three bets are why this particular bet is known as a “trifecta”.
The returns can be huge if you get this bet right, but in truth it all depends on the individual odds of the horses. Still, even if you back the first, second and third favorite in a trifecta, then you still stand to get a very big return for your money. There are other, similar bets, where you can pick the first and second horse, or even the first, second, third and fourth horses.
Pick 5, Pick 6
These bets are typically offered by betting sites and sometimes by the tracks themselves. These sometimes cost money, but often very little, a token payment if you will. In these you basically pick the winners of all of the races being run at a given course in a given day. Obviously, this is no easy task, and more often than not these events are rolled over week after week.
These bets are becoming more popular in Canada though, following on from places like the UK where they run every week and are very popular. In the UK there are also syndicates that make it their job to play these things every week. They have been known to buy tickets from players that need the final race of the day to go their way, and if they do this for several different horses, and then place bets on others in a standard fashion, then they can offset their losses and win big either way. It might be some time before that style of play comes to Canada, mainly due to the fact that horse racing has been ingrained in the culture of the UK for so long, but it is definitely getting that way as this sport continues to have a global appeal.
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