Bet on Horse Racing Events with Pari-Mutuel Wagering

If you are new to the world of horse race handicapping, it is important to understand how the pari-mutuel betting system works as this is the most common system used for placing a bet on horse racing today. In simpler terms, the pari-mutuel bet involves each horse player betting against one another. Therefore, the odds are determined depending on the percentage allotted to each competitor in the race.

To understand more about how pari-mutuel wagering works and how this system may impact the decisions you make when placing a bet on horse racing, contact Horse Race Handicappers or purchase our e-book about betting on horse racing using pari-mutuel wagering.

How It All Started - History of a Pari-Mutuel Bet on Horse Racing

Originating in France, the term pari-mutuel means ‘to bet among ourselves’. This type of bet on horse racing was invented by a perfume shop keeper from France Pierre Oller in 1865. It was his idea to sell tickets where people each place their own bet on horse racing. After collecting the proceeds, he pooled the money into a single pot that would later be split among the winners. He took 5% of the proceeds as handling charge and distributed the rest of the pool to the bettors based on their original bet.

In a few years, Pierre established this system in horse racing parks, and pari-mutuel betting soon gained a legal status in the country as a commonly accepted way to bet on horse racing. Over the next few decades, pari-mutuel betting gained recognition and legalization in both England and the United States.

Understanding the Basics of a Pari-Mutuel Bet on Horse Racing

There are roughly seven types of wagers that come into play when using a pari-mutuel betting system to bet on horse racing:

• Win: If the selected horse wins
• Place: Selected horse places 1st or 2nd
• Show: Selected horse places 1st, 2nd, or 3rd
• Daily Double: Predicting winners of 2 successive races
• Exacta: Predicting first two horses order
• Trifecta: Predicting first three horses order
• Superfecta: Predicting first four horses order.

When using the pari-mutuel system, the odds for any bet on horse racing are determined based on the popularity of one horse in comparison to others. Therefore, the odds for each horse are divided by the total amount in the pool.

Tips for Placing a Bet on Horse Racing & Using Pari-Mutuel Wagering to your Advantage

As experts in the field of horse race betting, Horse Race Handicappers can help you make the best of your bet on horse racing. With our horse racing picks packages, we can help beginner and established bettors learn to wager their money smartly in order to achieve success. Here are some of our tips when betting on horse racing using a pari-mutuel wager system.

• In a pari-mutuel system, the odds will continue to change until the event starts. Take your time in placing your bet just before the event to get an accurate idea of your odds.
• Sit close to the betting window. Bets are not taken after the race begins so ensure that you are physically able to wait until the final minute before placing your bet.
• It is not the best idea to bet on horse racing across the board as it means that you are wagering on a win, show, and place on the same horse. Instead, make three different winning wagers to minimize loss.
• Calculate every possible outcome before betting on more than one horse and bet your money based on the winning odds.

What makes pari-mutuel wagering truly exciting is the constant changing of winning odds. While providing the excitement and thrill of your bet on horse racing, it also gives gamblers plenty of opportunity to take advantage of the dynamic system. You too can use pari-mutuel wagering to your advantage to bring in the biggest pay outs with the help of Horse Race Handicappers to maximize your chances at winning.

Looking To Bet on Horse Racing Successfully? Ask the Experts for Help!

Want to learn more about using the pari-mutuel form of wagering to win big on horse racing events? Experts at Horse Race Handicappers can help you with just that. Buy our e-book today to gain expert insight on how to bet on horse racing events with pari-mutuel betting or put our recommendations to the test by purchasing our horse racing picks packages.