Betting on sports is generally regarded as an exciting thing to do, not only profitable but also very intense given all the adrenaline rush.
Horse racing is by far the most passionate competition and with winners emerged victorious by a threat, you can never know what happens until the final whistle.
People have been betting on horses for centuries, but the first actual systems were invented in the second half of the 19th century by Joseph Oller.
He came up with the term of pari-mutuel betting which encourage players to bet among themselves, therefore money was guaranteed to be won by someone. Unlike betting against the casino or a bookmaker, there is no chance to lose all the money, as someone in the group will take it eventually.
The betting system itself is very similar to the one in place today, because odds are given on all the horses, based on how good their chances to win are.
Pari-mutuel types of horse betting
When betting on horses, people can indicate the winner, which is the most straightforward type of wager and one that has spectacular odds. It is always riskier to bet on the outright winner than to trust him to finish on the podium, so that’s why so many punters prefer to bet on the first or second place.
You’ve got twice as many chances to be successful and in exchange are expected to settle for lower odds, but in the long run it all evens out.
Each Way bets are successful hybrid between the aforementioned wagers, as you can bet on the winner and also indicate the player that finishes second. It is very difficult but also potentially lucrative if you are inspired enough as to make the right assumption.
The same can be said about swinger bets, which demand players to correctly the two horses that participate in the same race and have them finish on one of the first three positions.
Quad Pot is a far more complex type of betting that involves multiple races and Scoop Six falls into the same category, therefore they are used by savvy punters alone.
Trifecta are also challenging as you need to be the runners in the right order and this requires a great deal of experience and just as much luck.