Video Summary

In the exciting world of horse racing, understanding the lingo and odds can be daunting for newbies. Here's a breakdown of the basics to help you get started.

In horse racing, the odds aren't fixed like other sports. Instead, they fluctuate based on how many bettors wager on each horse. This means the odds can change throughout the day, even up until the race starts. When you place a bet, you'll get paid out at the odds that were in effect when the gates open, not necessarily when you placed your bet.

The three most common types of wagers are win, place, and show. A win bet requires your horse to come in first, while a place bet allows your horse to come in first or second. A show bet lets your horse come in first, second, or third, with the same payout. You can also place exotics, such as exacta, trifecta, and superfecta, which involve picking the exact order of the finishing horses.

For those who don't want to manually create combinations, the option of “boxing” allows you to bet on multiple horses without worrying about the order they finish. When it comes to multi-race wagers, such as daily doubles, pick threes, and pick fours, you're essentially trying to pick the winners of multiple races in a row. The more long shots that win, the bigger the potential payout.

With this beginner's guide, you're ready to start betting on horses. Remember, keep an eye on those odds just before the race starts, and don't be afraid to try out different wagers to see what works best for you. Good luck!