More About Horse Betting
If there is one thing Australians and New Zealanders are passionate about, its horse racing. Since the best horse breeds are known to come from Australia, many regard it as an area of central importance in the horse breeding scene. Hence, when horse racing events are held in Australia, horse breeders around the world pay attention. As a close neighbour, New Zealand likewise has interest in the horse racing events in Australia.
Horse betting is an age old form of wagering, and is especially popular In New Zealand and Australia. In fact, it is said that when the Melbourne Cup is held in Australia, the increase in horse betting in the region spikes to amazing heights. Most, however, take part in horse betting on whim, placing down a bet with little consideration. This is fine, of course, as horse betting should always be done in good fun. For those who are serious about horse betting, however, there are a number of interesting things that can be taken into account when placing a bet.
More About Odds
A fixed odds horse betting event means that odds have been assigned to the horses. Based on the previous performance of the horses, and their reputation, the bookmaker decides how likely each horse is to win the race. The odds represent the horse’s chance of winning, and likewise the payout that will be made for that horse. If a horse has odds of 1/10, it means that the horse is less likely to win the race in the first three positions. Hence, a bet on this horse is risky. The trade off is, however, that If the horse did place in the top three that the payouts would be substantial.
In contrast, low odds, such as 1/2, mean that the horse is predicted to race well and place high. Hence, the horse is seen as a less risky bet, and so the payouts are less. This is the nature of horse betting; risk versus reward. Bet makers are tempted to bet on high risk horses because the payout is so much higher. If an underdog horse manages to place in the top three, those who chose the risky bet will be waling away with a pretty penny.
It is also possible to bet on more than one horse, depending on the options offered by a particular bet maker. In group betting the bet maker can indicate more than one horse to place in the top three, or even top five. The bet maker may indicate predicted first, second, and third place on his group, and will get higher payouts if one, or all, of his predictions are correct. Getting all three predictions correct would be an excellent payout, although this is risky.
It is more likely that the bet maker gets one or two of his predictions correct. Even if his predicted horses place in the top tree, however, but not in the correct positions, payouts are still made, although much lower. See the group horse betting options offered at your favourite online bookmaker.