Sports betting is arguably one of the best things you should try. Aside from the fun, thrill, and excitement the sport could bring, watchers also get the chance to bet for the player or team they think will win the game for a chance of bagging lots of money.
Out of the dozen sports to wage your bet, horse racing stands among the rest. Since the 16th century, horse racing became a worldwide phenomenon for the sport developed and became the adrenaline-pumping spectacle we see today with advancements in technology and higher money at stake.
Despite looking oldy and classy for the younger generations, the said sport is still popular among bettors who look for enjoyment and greedy for profit at the same time. In this Internet Age, horse racing betting in Singapore makes betting more convenient for gamblers as they can lay their bets in the comfort of their home and time.
If you’re a beginner, here are the things you should know to understand and appreciate horse racing betting.
Different horse racing betting cultures in countries
Under the rulership of King James I, betting on horses came into existence in the 1600s.
From that point, the sport spread like wildfire in every nation that adapted it differently and resulted in various horse racing betting cultures. One shouldn’t get surprised with this diversity, as countries had their rules and regulations prohibiting or allowing horse race betting to occur.
In the Philippines, there is no law prohibiting its residents from online betting, including sports betting, as long as the gambling sites had licensed and monitored by the Philippine Amusement and Gaming Corporation (PAGCOR) and local regulatory boards.
In 1961, the British government’s Betting Levy Act permitted its residents to wage off-shore. Since then, the British people got the freedom to access and enjoy even online horse betting in Singapore.
Betting in horse races also paved the way for other sports betting on rising to fame in 1996 when the first online casino rose.
You can win in various ways
Bettors can win money in different ways as there are various types of horse racing betting, namely win bet, place bet, and show bet.
Among the three, the show bet gives you more options as you get the chance to pick a horse you predict will place either first, second, or third. But if the horse finished off the board, you lose your bet.
From its name itself, the win bet can award you money if your chosen horse racked up the top spot and if not, try again.
In place bet, you can select a horse to place first or second after the race. Yet, you get a much lower profit as the prizes got split for the winning horse and the second placer.
To know more about horse racing betting, check this infographic by 88ProBet.