The rising growth of the horse racing betting market has dramatically changed the sport’s original nature over the last decades. While the idea of choosing winning horses has still the same, the growth of live horse racing and online betting has been exciting.
There’s a lot of ways that betting has changed and also today. Not only has the series of bets possible, but also modern technology has enabled horse racing news and data to be available at the touch of a button.
What was once a regional sport has become international, thanks to the faster and easier transfer of information.
Before, there was only the bookmaker, the patrons, and the track who bet. Unlike casino gaming, horse racing results don’t matter much to the racetrack because they use parimutuel betting. In this kind of gambling, all bets are set into a pool, the house gets a percentage off the top, and payoffs are determined by dividing the remaining money for whoever the horse finishes first. The house always gets their cut.
At one time, there are only three bets: win, place, and show.
Horse betting used to be a matter of guessing who will win one race at a time, and with a short amount of data available. Now, not only lots of bets but also the quantity of horse racing news and numbers available to the common handicapper are wide.
Equibase’s Stats Lense and True Odds help to assess what the odds of a race should be, based on class, tempo, and other difficult-to-factor criteria. The Daily Racing Form’s Formulator enables users to prioritize and evaluate whatever type of information they are looking for.
While horse racing today differs significantly, handicappers need to determine what information is useful, and what is not.
Exchange wagering allows two users to bet anything agreed upon against each other, while the betting operator takes a small percentage. Perhaps the most innovative part of exchange betting is it has In-game wagers, incorporated live into the platform.
It also allows account holders to bet with each other while the race is going, just like In-game live sports betting.
While Horse racing is quite the same as it has always been, the way we bet on this is much different than today. Besides, how we bet on horses in the future will remain to change over the upcoming years.