How Horse Racing Odds Work for Online Betting
As one of the more popular online betting sports in America, horse racing is full of exciting moments and a great way to cash in on all of the action taking place at the track. The US horse racing season has a number of big events scheduled throughout the year, giving sports betting fans a chance to experience the rush of adrenaline that comes with rooting on your picks down the stretch. Bovada horse racing offers betting odds on all of your favorite horse races and gives you the chance to bet online from anywhere with the Bovada mobile app. As if that weren’t enough, Bovada also offers a $250 Sports Bovada Welcome Bonus for new players making their initial deposit.
While there are many notable races on the US circuit, there are a few that stand above the rest in terms of prominence and prestige; the Kentucky Derby, the, the Preakness Stakes, the Belmont Stakes and the Breeders’ Cup all have a special place in the world of horse racing and each race has become a huge betting event in the US.
Arguably the biggest horse race of them all, all eyes are on the track when the Kentucky Derby is run during the first Saturday in May every year at Churchill Downs in Kentucky. The race has become a major event both with online betting and also in the stands as celebrities come to witness the action. With a first place prize of $3 million, you can understand why thoroughbreds are trained for years just to win this single event.
As the second leg of horse racing’s Triple Crown, the Preakness Stakes has become a major betting event in its own right. The event takes place at Pimlico Race Course in Maryland and the 13/16-mile dirt track features the top thoroughbreds in the sport. The winning purse at the Preakness isn’t too bad either, with the winner taking home a cool $1 million.
The Belmont Stakes is the third and final leg of the Triple Crown and has seen a number of historic finishes over the years. The 1.5-mile race is run each year at the beginning of June in Belmont Park in New York and features a sizeable winner’s purse of $1.5 million. From Secretariat in 1973 to more recently American Pharoah (2015) and Justify (2018), a number of great horses have made their mark on the sport at the Belmont Stakes.
Unlike the other races, the Breeders’ Cup is a two-day event and the venue changes each year. Generally regarded as the end of the American horse racing season, this year’s event will take place at Del Mar Racetrack in San Diego California from November 5 to 6. The Breeders’ Cup consists of 14 championship horse races and draws plenty of attention with an incredible prize total of $28 million in purses and awards for this year’s event.
What are Horse Racing Odds?
While it may seem complicated at first glance, understanding the handicapping for Bovada horse racing is actually rather simple. When looking at betting on a horse race, the odds will tell you what your potential payout will be if the horse (or horses) you bet on are successful. Just like with any type of sports betting, the more risk you take, the greater your potential reward. Keep in mind that these handicaps are often impacted by the betting public; a horse’s betting odds will decrease the more people pick it to win the race.
When betting at Bovada Racebook, the odds are shown in fractions. For example, a horse could be listed at 5/2, meaning that for every $2 bet, you would profit $7 for a total return of $9 if your horse is successful. On the flip side of this example, a heavily favored horse could be listed at 1/2; this would mean that you would earn $1 in profit for every $2 wagered for a total payout of $3 if your horse is successful.
Futures are also popular with Bovada Racebook, as the odds tend to be much greater when betting on a horse race in advance. By making your picks well before the race, you can find great value and have a chance at a massive payout if your predictions pan out. If you’re new to Bovada Racebook, be sure to take advantage of Bovada’s $250 Sports Welcome Bonus. This great offer rewards new players with 50% of their initial deposit, up to a total of $250.
Different Odds for Bet Types
When it comes to betting on horse racing, Bovada Racebook offers a number of different bet types. Each type of bet comes with its own pros and cons; some bets may be safe but have lesser payout potential, while others could payout huge but are more much more difficult to win. Regardless of your betting style, Bovada Racebook has all of the action you’re looking for when it comes to horse racing and Bovada online betting.
In order to get your horse betting off on the right track, we’ve put together some of the more common bet types for the sport of horse racing. While the odds and payouts may differ, each of these bet types can help you win some real money betting on horses with Bovada Racebook:
If you prefer wagers that are simple and straightforward to understand, Win/Place/Show betting is the way to go when it comes to horse racing. Win, Place and Show bets each work a bit differently, so make sure you understand how each bet works and how it affects the handicapping.
Here is a quick overview of Win/Place/Show betting:
- Win Bet – This means you’re picking a horse to win the race. If your horse finishes first, your bet wins. It’s just that simple! These bets often have greater odds as it’s all or nothing to win the race.
- Place Bet– It means you’re picking a horse to finish in either first or second in the race. As long as your horse is in the top two, your bet is successful. The payouts for Place bets are a bit less rewarding, since the risk has been cut in half.
- Show Bet – This means you’re picking a horse to finish in the top three of the race. Naturally, the payouts are reduced further as any of the top three finishing positions will earn you a win.
- Exotic Betting – For those looking to add a bit more excitement to their horse racing action, Exotic betting can take things to a whole other level. Exotic wagers involve picking multiple horses in the same race. These types of bets generally come with more risk, but can also deliver much bigger payouts. The betting odds can be a bit trickier when it comes to Exotic betting, but they often deliver great value if your picks are correct.
Here is a quick overview of the most popular types of Exotic betting:
- Exacta Bet – This type of bet requires you to pick the horses that will finish in first and second place, respectively. Exacta betting comes with some solid betting value, but you need to get the finishing order of your two horses correct for your bet to cash.
- Trifecta Bet – This bet works basically the same as an Exacta, only with a Trifecta you’re required to pick the top three horses in the race. With more risk, the payouts only get bigger with Trifectas, but you’ll once again need to get the finish order correct for your bet to be successful.
- Superfecta Bet – With some of the biggest betting payouts in horse racing, Superfectas can win you tons of cash. It’s not that easy however, as you’ll need to pick the top four horses in the race, with the correct finishing order. If you can do that, you’ll score a massive payout.
- Quinella Bet – This type of bet works a bit differently, as you just need to pick a horse to finish in the top two positions of the race. Quinella bets actually hedge the risk by combining your pick with every other horse in the field to make multiple wagers; this way you are assured to win as long as your pick finishes in the top two positions. Quinellas are great if you’re confident in who will win the race, just keep in mind that this type of wager will increase your amount bet, since there will be multiple bet combinations involved.
As you can see, Bovada Racebook provides you with a variety of bet options when it comes to horse racing. Betting on horses is fun, easy and a great way to add some excitement to the race. You can place your bets online from the comfort of your own home, or from just about anywhere with Bovada’s mobile app. If you’re just getting started betting on horse racing, remember to take advantage of Bovada’s $250 Sports Welcome Bonus. This special promotion will boost your bankroll with a 50% match bonus code for up to $250. Once that’s done, all that’s left to do is hit the track with Bovada and win some money on the ponies!