The Basics of Horse Racing Betting
Horse racing is an equestrian sport where horses compete over a set distance on a track for the honour of winning. The basic concept of the race has undergone little change over many centuries, moving from a primitive contest of speed and stamina between two horses to an enormous spectacle involving huge fields of runners, sophisticated electronic monitoring equipment and immense sums of money. The sport has a long and distinguished history, being recorded in the archaeological records of ancient civilizations such as Ancient Greece, Rome, Babylon, Syria and Arabia. The contest of the steeds of the gods Odin and Hrungnir in Norse mythology is also considered an early form of horse racing.
In the modern world, a horse race is typically a flat or jumps race for Thoroughbred horses over distances between 2 and 3 miles (4–6 km). The most prestigious flat races, such as the Prix de l’Arc de Triomphe, Melbourne Cup, Japan Cup and Epsom Derby are known as Group 1 races, while the major championship races over hurdles such as the Cheltenham Gold Cup are Grade 1 events. These races are the top tier of the horse racing structure, and are often considered as tests of both speed and stamina.
A jockey on a horse is referred to as their rider, and it is common for a trainer to have more than one runner in a race; the horse that they consider to be their main fancy is often called their stable leader. Clues to which horse this is may be the fact that it carries their first colours, is ridden by their stable jockey or is shorter in the betting than a stablemate. During the era of jockey silks, it was customary for a trainer to have a number of riders on their team; this is known as the jockey stable.
One of the most popular betting markets on a horse race is the place market, which offers odds on a selection finishing either first or second. This bet is settled at a fraction of the win odds, and this reflects the higher level of risk involved for the bookmaker.
Many horse races are run under a system of handicapping, which adjusts the weights that a horse must carry on the basis of its age and/or class. For example, a two-year-old is generally reckoned to be immature, and so carries less weight than a three-year-old. In addition, sex allowances are sometimes provided; for example, fillies carry lower weights than males.
The use of whips and tongue-ties is banned in most racing jurisdictions as they can cause significant pain and distress to a horse. However, some trainers and jockeys still choose to employ these methods, particularly the use of a device known as a jigger, which delivers an electric shock when used on the horse’s skin, in order to coerce them into running faster than their opponents. This is an outrage, and these cruel devices should be banned worldwide.