Introduction to Horse Racing Betting
Horse racing is one of the oldest sports in the world and continues to thrill audiences around the world to this day. Racing is a simple union of jockey and horse working together to try and get to the finish line first. But the nuances of horse racing, which has three main formats of flat, jumps and harness, go much deeper. Further adding to the great variety of horse racing, for example, are varying distances, age restrictions, weight handicaps and grades.
Horse racing has always traditionally had a heavy link with betting. Races are usually completed in 1 to 3 minutes, depending on the distance, allowing bettors to obtain a quick turnover of results. Racing also goes hand in hand with statistical research, and bettors can spend hours studying horse, race and trainer form to find selections.
History of Horse Racing
Little has changed in horse racing throughout the centuries, other than becoming better organised with improved safety, and more money being poured into the sport. The exact point at which horse racing started is unclear, but its origins are said to date back more than 6,000 years.
Ancient civilisations like the Ancient Greeks, Rome, and Egypt regularly held racing events, where chariot races could be regularly viewed. Racing is generally regarded to have emerged into a more organised format in the 12th century in England, which led to its adoption in other areas of the world, like Australia and the Americas, and spreading out from Europe across to the Middle East.
The modern era of racing is regarded by many to have kicked in during the 1700s when three “classics” were introduced in England – The St Leger, the Oaks and the Derby. These flat races inspired similar events worldwide, from Ireland to South Africa.
The English Classics are still regarded as some of the greatest races of modern racing, and form the Triple Crown, which is a bid to win all three in the same season. The American Triple Crown includes the Belmont, Preakness and Kentucky Derby. Among the modern list of richest horse races in the world, there are:
- The Dubai World Cup – UAE
- Prix de l’Arc de Triomphe – France
- Breeders Cup Classic – USA
- Melbourne Cup – Australia
- The Everest – Australia
- Kentucky Derby – USA
- Grant National – England
- Cheltenham Gold Cup – England
- Saudi Cup – Saudi Arabia
Many of the world’s richest races revolve around a ‘festival’, which is one or more days of racing at a venue with a big party atmosphere, including features like ‘Ladies Day’. The Breeders’ Cup, for example, is part of a three-day festival, while the Cheltenham Gold Cup in England is part of a four-day festival.
Rules of Horse Racing
Rules are determined by national organisations around the world, which play a big role in providing fair and safe racing experiences for runners and riders. Horses are graded by ratings based on their ability and past performances, with a top-tier Group 1 race, for example, only including the highest-rated contenders.
Horses can move between different race grades and distances. More often than not, when they do, they are “handicapped”. This is a bit like weight divisions in boxing, where all horses have to be within a certain range for a given race. A horse deemed to be better than the rest will carry extra weight to give the rest of the field a chance.
Jockeys can’t interfere with other runners nor use their whips excessively. Races are also organised by conditions such as age and sex. For example, a race could be only for 2-year-olds, while another may be open to only colts aged three or above. There are specific races for fillies and even maiden races for horses that haven’t won before.
The types of races that can be ran include:
- Flat – A straight run on a course involving no jumps.
- Jumps – Sometimes called National Hunt, involving fences or smaller hurdles.
- Steeplechase – A form of National Hunt where runners can face fences and ditches.
- Harness – Also called Trotting, harness racing is much akin to ancient chariot racing, with horses pulling what is called a ‘sulky’ where the driver is situated.
Popularity of Horse Racing in Different Countries
In different regions worldwide, you can find plenty of different cultural influences regarding the popularity of certain types of horse races. In Europe, particularly in the UK, Ireland and France, there is a fairly even split between the popularity of flat racing and National Hunt racing.
Racing in the USA features a blend of dirt and turf courses. Jump races are uncommon, but harness racing is much bigger there than in Europe. Australia is another big destination for harness racing. Japan has a very well-regulated horse racing scene and consistently produces horses that are competitive in big international flat races.
The fact that you can look to any region of the world and see a big feature race, from the Dubai World Cup to the Irish Derby and the Durban July in South Africa, just shows the seemingly eternal popularity of horse racing.
Popular Bets in Horse Racing
It’s reported that more than $115 billion is wagered worldwide on horse racing every year. Races like the Kentucky Derby are not uncommon to get $1 billion-plus staked on them, and it’s estimated that around 1.5 billion people around the world watch or bet on horse racing annually.
The bigger the race, the higher the volume of bets will be due to increased interest and coverage. The most popular type of horse racing bet is selecting which horse is going to win a race, but there are good alternative options to ponder for horse racing betting:
- Win – A straight bet on the race winner
- Place – Backing a horse to finish in the top two (payout doesn’t differ for finishing positions)
- Show – Backing a horse to finish in the top three (payout doesn’t differ for finishing positions)
- Each-Way – Combining two bets, one backing the horse to Win, another for them to Place, which is to get home in a certain range of finishing spots (like top 3 or 4).
- Exacta – Exact finishing order of top two
- Trifecta – Exact finishing order of top three
- Superfecta – Exact finishing order of top four
- Pari-mutuel betting – Pool betting, where the total money wagered on a race is divided among the winning bets and is an alternative to fixed odds.