Horse racing is not only popular in the UK, but it's also over 200 years old in India. On the contrary, the thinking of most people in the world has changed and they consider horse racing as one of the premier sports around the world. It is a world of racing that can mystify and complicate to the outsiders looking in. For those who are wondering how to start online betting on horse racing, commonly used racing terminologies might appear a bit confusing. So in this beginner's guide, we will let you know how to bet on horse racing and explain to you exactly how things work in the racing world. Today, India has a booming racing and breeding industry with the online sports conducted at many tracks. With the overall survey, we have come with some of the most frequently asked questions, providing those of you who are looking to bet on horse racing for the first time.
How do horse racing betting odds works?
Since online sports betting is inseparable from horse racing, we have a list of horse racing betting sites that accepts Indian players and rupees as currency one of them is betchips.in. This bookmaker offers prices upon every horse race, with a theoretical inbuilt margin in your favor. For instance, a three-horse race might in a perfect world concerning horse A at odds of 2.00(an implied probability of winning the race at 50%), horse B at odds 3/1(25% by chance) and horse C 3/1 (25% by chance), thus making a 100 pc perfect sportsbook and so on.
The bookmaker here makes a huge profit and has staff the taxman and the gambling commission to pay so he has to offer shorter prices to ensure a profit if he can lay every horse. Horse A may be at odds 4/5 (56% by chance), Horse B may 5/2 (29 by chance) and horse C may be 11/4 (27% by chance) but in this case, the bookmakers offer up prices totaling 112% (56% plus 27%) which are perfect attractive odds and gives you plenty of time to anticipate the winner or top places. Thus if you can attract online bets on all the runners, you have a guaranteed profit. This is a very simplistic and easy example and in the real world much more complicated. Usually, the bookmakers pretend to take a long-run view that if they can horses at a price lesser than their true chance they will able to be on top position for the long run.
As you most likely already know, favorites don't always win. It's not different in horse racing too. The prices at the front of the market can be experienced by betting exchanges these days. A major favorite may be leading the race at the moment, but it could all change in a second. With every firm in the country using betchips as their playing option you can observe a template for their early morning prices where liquidity and confidence in the prices are small as an output result.
It is obvious that often public horses are over-betted and underpriced and the educated players will always try to look away for the shortest prices that bookmakers offer.