Horse race betting: DECODEDAs long as people have raced horses men have been betting on them. What was once an unsophisticated system of wagers has developed into a complex system of odds. With these new developments it has become possible to have all the fun of sports betting and chances of huge profits. In Horse Race Betting: DECODED we'll explore all the ways to make bets and get an edge on the house.

The basics:Before we can get into the techniques that will help you dominate the betting arena first we've got to make sure we're all on the same page. Here we will cover all the bets you can place, how to place them, and what you need to know to get started.

Betting on horses is typically quite simple. Usually you place a bet, hold your ticket close as your horse almost wins, then throw your ticket at the incompetent jockey who lost you the race when things go wrong. But, if you know what you're doing, you bring your ticket to the window and collect your "hard earned" winnings.

To place a bet walk up to the window and tell them:1. The name of the racetrack.2. The number of the race you're betting on.3. How much you wager.4. The type of bet (you can bet on a horse to win, place, or show or on a combination of horses

to perform in a combination of ways).5. Tell them the number of the horse or horses you are betting on.6. Double check that everything is right on the ticket you were given.

When you're at the tracks you're going to need a few things. Along with an umbrella and sunscreen to endure the elements make sure you're ready for the race.

Get a program. A racetrack program features information on all the horses and their jockeys.

Make sure you have the daily racing form (DRF). The DRF features a breakdown of all the past performances of any and all horses in the day's races. It also features articles and handicapping information all assembled by DRF staff.

Next you simply must have a copy of the public handicapper selections. If your track is covered by off track betting (OTB) then the local paper will hire a handicapper Ronald daily horse selections.

Finally try to track down handicapper tip sheets. These are published by other handicappers at the racetrack and can give you even more of an inside scoop of what is going on in the races.

Oh and be sure to bring binoculars for all those quick finishes.

The bets:So you're betting on a race and you want to know how much you're about to win. Here's a quick reference to help you. It's built with standard £2 bets.

Odds £2 Payoff Odds £2 Payoff Odds £2 Payoff1/9 £2.20 8/5 £5.20 7/1 £16.001/5 £2.40 9/5 £5.60 8/1 £18.002/5 £2.80 2/1 £6.00 9/1 £20.001/2 £3.00 5/2 £7.00 10/1 £22.003/5 £3.20 3/1 £8.00 11/1 £24.004/5 £3.60 7/2 £9.00 12/1 £26.001/1 £4.00 4/1 £10.00 13/1 £28.006/5 £4.40 9/2 £11.00 14/1 £30.007/5 £4.80 5/1 £12.00 15/1 £32.003/2 £5.00 6/1 £14.00 16/1 £34.00

Bet types:Before you even think about picking a horse you need to get to know the kinds of bets you can make. You have options from simple bets on a single race to predicting the winning horses for 6 consecutive races. This table begins to give you your options:

Bet type: Chances of winning Explanation and Expectation

Suggested play - (Assuming £100

bankroll)

Show Very good If your horse is first, second or third you get a payout, marginal returns

£6/horse

Place Good If your horse is first or second you get a payout, better return than show

£5/horse

Win Average Your horse must take first, payoff depends upon odds

£4/horse

Quinella Average Your horses must finish first and second in any order, the standard play is to box three horses

£2 quinella box for three horses costs £6

Exacta Hard Your horses must finish first and second in an exact order, a riskier bet that can pay a little or a lot depending on the odds

£1 exacta box using three horses costs £6;£1 exacta box keying three horses costs £6

Bet type:

How to win:• Every racetrack has a television simulcast with a commentator who handicaps between

races. Pay attention to what he says, you might pick up a hot tip.• The top ten riders win rough 90% of the races in any given meet. Typically safe bets.• Favorite horses win roughly 1/3 of the time, but have a low payoff.• The morning line, despite popular belief, isn't who the racetrack oddsmaker believes will win.

It's who the racetrack oddsmaker believes the public favors to win. A solid betting method is

Trifecta Very hard Your horses must finish first through third in an

exact order, can be expensive if played with

many horses

£1 trifecta keying one horse to win over three

horses costs £6; £1 trifecta keying two

horses win over four horses costs £12

Superfecta Extremely hard Your horses must finish 1st through 4th in the order you predict, very hard to bet unless you

have a sizable bankroll; big payoff possible

£1 superfecta keying one horse to win over four horses costs £24

Daily double Hard Your horses must win two consecutive races; chance for a nice payoff with mid-priced horses

£2 daily double using two horses in each race

costs £8; £2 daily double keying one

horse to three horses costs £6

Pick 3 Very hard Your horse must win three consecutive races; it's a daily double plus

another race; the £1 unit makes it affordable

£1 pick 3 using two horses in each race costs £8; £1 pick 3

keying one horse with three horses in two other races costs £9

Pick 4 Extremely hard Your horse must win 4 consecutive races; its a

chance for a huge payout

£1 pick 4 using two horses in each race

costs £16

Pick 6 Statistician's lottery Your horse must win 6 consecutive races; very expensive to play; huge

payoffs possible; a home run bet

£2 pick 6 using 3 singles with two horses each in the other three

races costs £16

Chances of winning Explanation and Expectation

Suggested play - (Assuming £100

bankroll)Bet type:

to put a couple bucks on horses going off at odds two to three times higher than its morning line.