Horse Racing is one of the most popular sports to bet money on in the United States. Some of the popular races to bet on are the Triple Crown events. They are in order, the Kentucky Derby, the Preakness Stakes, and the Belmont Stakes. In addition, the Breeder’s cup generates a large number of people that bet on the horses.
Horse betting is regulated by the state the racing takes place, but usually states follow the same general rules in regards to betting. On average, when a person bets, the track takes around 15 to 20 percent while the remaining 80-85 percent is used to pay out winnings to other betters. When one is betting on horse racing, there are a number of terms that they must understand in order to win and place a proper bet. Win, Place, and Show are important terms, Win means that one thinks a horse will come in first place. Place means that one thinks that a horse will come in either first or second. Show means that the a horse will come in either first, second, or third place in a particular event.
When a person places a daily double bet, they are betting on 2 consecutive races. Often times, these races are the first two of the day. In general, one who bets must spend at least 2 dollars on the win, place, or show bets, while other bets generally only cost around one dollar to make. One major difference between horse racing betting and sports betting is that in horse race betting the odds change right up to the start of the race, while sports odds are generally fixed once a bet is made. The recession of 2007, 2008, and the beginning of 2009 has had an impact on the amount of horse race betting. It is estimated that from 2007 to 2008, there was a 7 percent drop I money spent. Horse race betting remains a huge billion dollar industry, and is expected to recover once the overall economy returns to growth.
Wed, Dec 9, 2009
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