Horse Wagering Conventional wisdom holds that a fan will do OK at the racetrack if he or she grabs a tip sheet or a local newspaper and follows the picks of the pros. The more fans holding a winning ticket, the less the pay-out will be. This spawned the term favorite, which is used to describe the horse who is or has taken the most money. But favorites win only about 30 percent of the time, so it behooves the bettor to study the program, which contains the racing record of all the horses in each race, as well as the records of the jockeys and the trainers and the breeding of each horse, before making a pick. Naturally, we're prejudiced, but we think picking winners at the track is one of the most fun and exciting forms of entertainment around, as long as you bet with your head, and not over it, as they say.
All bets can be fun and profitable if managed correctly.
Like playing the stock market, the key words are money management, performance, and value. Use the section below to aid your understanding of betting terminology and rules. And remember, never bet more than you can stand to lose. Place - Your horse must come in first or second. Show - Your horse comes in first, second, or third.