New Zealand and Australia are considered to be the horse capitals of the world. This is because the region is home to some of the fastest, and most renowned horse breeds today, which is no small achievement.
It also stands to reason, then, that the area also has one of the highest concentrations of professional horse racing tracks.
In Australia horse race betting is all but a tradition, with virtually everyone in the country having placed at least one bet in their lifetime, even if just for a few laughs.
The tradition is likewise as popular in New Zealand, with some even considering themselves to be horse race betting fanatics.
But then again, not everyone is a fanatic, and some may not even be aware of exactly how one places a bet on a horse race. It’s nothing to be ashamed of, after all the process can be a little confusing to those who are not familiar with how things work.
Take a look at this quick guide on the basics of horse race sports betting, and get up to speed on how it all works.
Horse Race Betting Odds Explained
Maybe you’re more of an online pokies NZ sort of person, and don’t really know what the big deal with odds is. No problem, let’s get the beginners course.
In a horse race each horse has odds assigned, which not only give an idea of the likelihood of the horse winning, but also how much a successful bet on that horse will payout. The odds, in other words, are an indication of the risk and reward situation involved on betting on that horse.
For example, if a horse has been given odds of 1/2 it means that the horse stands a very good chance of winning. This horse is obviously a strong runner, and it is anticipated that it may place in the first three, or even be the outright winner. Odds of 1/10, however, mean that a horse is much less likely to win.
Horse Race Betting Payouts
With odds of 1/2 a bet of $10 would payout just $20. It’s a low risk bet, given that the horse has already been noted as a likely winner.
The lower the risk, the lower the payout. A $10 on odds of 1/10, however, would payout a much more significant sum of $100.
In this case it is a risky bet, given that the horse is not seen to be a likely winner. Hence, the more risk, the more the payout.
Horse Race Betting Options
But, one does also not have to simply place a single bet on a single horse to win. It may be the most thrilling way to bet, but there are many more options available. A horse need not even be an outright winner, but simply place in the first 5, in order for payouts to be earned.
See what betting options are available, and choose one that seems to offer a good chance of earning cash. There are many interesting combinations to choose from, and a person can even place more than one separate bet on a single race. Good luck!