Horse Racing Betting and Its History

Horse racing is one of mankind’s oldest sporting events.  It originated from the nomadic tribes in Central Asia who were the first people to domesticate horses.  However, the current form of horse racing we see nowadays had its roots from medieval times.  It was during the 12th century when English knights returned from the Crusades and brought with them Arab horses.  The Arab stallions were then mated to English mares and the result was the Thoroughbred breed, boasting a superb mixture of endurance and speed.  Due to its excellent features, Thoroughbred horses were very costly and only the nobility were able to afford them.  Later on, aristocrats began wagering among themselves on private horse races.  This was how horse racing became known as the Sport of Kings.  It was only during the 16th century that horse racing became open to the common public, with audience members placing stakes on their favorites.  Soon after, public racecourses were constructed and horse racing rules became regulated by professional organizations.  Horse racing betting also began to intensify in status.  In the early 1900s, a ban on gambling and bookmaking was enacted which almost destroyed horse racing.  The establishment of pari-mutuel betting in 1908 rescued the ailing business, and soon after the noble sport of horse racing began to flourish once again.

Horse racing betting has its own set of rules and its betting system strategies also use its own unique lingo.  These may be hard to comprehend initially but avid fans of horse racing can effortlessly utilize them to gain profits on a well-loved pastime.  An understanding of the lingo can really help anyone who has ever been to the race tracks. And for those who are planning to engage in this type of sport, you need to understand how the betting system in a horse race works.  In pari-mutuel betting, all bets placed on a race are collected and a certain percentage is deducted to cover for the track’s taxes, prize money, and other expenses.  The remainder of the pool is then distributed among the winning bettors.  There are many different types of bets you can place at a race, or even several races.

It is important that you are familiar with all the different jargons racing enthusiasts and professionals use.  Terms such as “win”, “place”, “show”, “perfect”, “trifecta”, “superfecta”, “wheeling”, “keying”, “boxing”, “pick three”, “pick six”, “daily double”, and “twin trifecta” among others can be surely perplexing to novices but is used on a daily basis on any given race track.  If you are a beginner in horse racing betting, it is better to place your stake on a likely winner and to stick to simple or straight bets. Exotic bets may have bigger payoffs but the chances of success are very slim.  Another sound advice for beginners is to focus on a single race course and study the records of horses and riders.  Familiarity with the history and statistics of horses and jockeys play an important role in choosing a winning pair.  Most of all set a limit for your losses.  Gambling is still a risky business but being a responsible gambler can assure you that going to the tracks remains an enjoyable event.