Win Bet in Horse Racing – Understanding the Basics
Last Updated: January 26, 2023
Horse racing is one of those sports that can offer extraordinary amounts of fun and adrenalin in a short period of time. This is one of the biggest reasons punters enjoy betting on horses.
With the increasing demand for horse racing all over the world, over the years, bookmakers have been introducing a lot of new bet types to satisfy the growing demand.
And while there are dozens of horse betting options available today, the one bet that never lost its popularity is the win bet.
The win bet, allows punters to select which horse will cross the finish line first.
What Is a Win Bet in Horse Racing?
The win bet is the most basic and the most popular bet in horse racing, it allows punters to bet on the horse that they think will finish in the first place.
Like in most other sports, the win bet is the bet from which all other bets and betting variations were created.
If you are looking to get into betting on horses, win bet is where you should start.
So let's start from the beginning. To have a winning win bet, the bettor must select the horse that will go through the finish line first. This means that there is no room for error like with some other horse racing bets.
However, it was exactly the simplicity of the bet and the lack of additional calculations that attracts punters to the win bet.
What Is a Straight Bet in Horse Racing?
The straight bet is just another term used for the win bet. Punters that use this term, usually want to make a distinction between a basic win bet and other types of exotic bets such as placements bets.
What Are the Odds for the Win Bet in Horse Racing?
As we mentioned, the win bet is the simplest and the most straightforward bet in horse racing. Thus, the betting odds for this bet will often be lower than the odds for exotic bets like the trifecta.
Of course, this is not set in stone, and the odds will always depend on your selection. If you are picking a horse that the bookmakers and the public see as the favorite, the odds will probably be pretty low.
But the important thing to note here is that the odds for the win bet and for all other types of horse racing bets can fluctuate.
How much will the odds for the win bet fluctuate depends on the flow of public money. In other words, this depends on which horse most of the money is placed on.
This means that a horse can open with odds of 3 to 1 to win the race and go down to odds of 2 to 1 to win the race, and vice versa.
The reason why bookmakers adjust the odds for certain outcomes is that they want to take approximately the same amount of money (in relation to the odds) for each of the horses.
Horse racing bookmakers, like all other bookies, make their money from the commission they take on each bet. This is why they want equal action on all selections.
How to Place a Win Bet in Horse Racing?
The win bet is one of the easiest bets to place in horse racing. This is especially true for bookmakers that have intuitive and easy-to-use betting platforms.
Below are the steps that you should follow to place a win bet in horse racing:
- Open your online betting site and log in
- Open the “Horse Racing” section
- Select your race
- Most bookmakers will offer the win bet as the default bet, so you only need to pick the horse
- Double-check your selection and the odds the bookmaker is offering for the win selection
- Type in your stake
- Select the “Place Bet” option
When placing a win bet in horse racing, you can only select one horse. If you want to place multiple win bets, you will have to repeat these steps.
After learning what is a win bet and how to place a win bet, the only thing left is to learn some of the strategies that seasoned punters implement to increase their bottom line.
Best Strategies for Betting on Horses
Horse betting can be very fun and exciting. However, if you are looking to also make some money while enjoying yourself, you will want to learn some of the best horse betting strategies.
Below, we explain some of the general and easy-to-implement strategies that don’t require extensive knowledge of the horse betting industry.
Avoid Live Betting Unless You Are at the Track
If you are a horse betting fan, you might think that one of the best ways to enjoy yourself is to watch some races online and simultaneously place bets.
This is one of the mistakes that newbie bettors make often and we strongly advise against this type of betting.
The main reason why you should avoid live betting on horses unless you are at the track is that all live streams are at least a few seconds late. This means that you will be placing a bet while watching something that happened three or four seconds ago.
Avoid Cashing Out Your Bets
One of the biggest mistakes that all amateur bettors make, not only in horse racing but in betting in general, is that they cash out their bets.
If you want to be a winning bettor, you should never take cashouts on your bets.
The amount that you are offered to cash out will always be at least 20% lower than the amount that your ticket is worth at that moment. This means that the bookmakers make an auto profit each time a punter cashes out on their bet.
Don’t Bet Too Early
Another thing that you want to avoid when betting on horses is betting the night before.
If you are a winning bettor, betting the night before makes it easy for your bookmaker to notice you. This can lead to limiting your bets, restricting your account, or even suspending your access to the bookie.
This is an easy rule that will help you make the most of your account and allow you to win as much money as possible before getting noticed.
In addition to this, you should probably avoid betting early in the morning. Look to place your bets when most of the public is placing them, so that you can use them as a disguise.
Shop for the Best Odds
One of the most important things that you should implement in your horse betting game is odds-shopping.
Odds-shopping is when bettors create multiple accounts on different betting platforms so that they could place bets on the best odds available.
This strategy is one of the easiest to implement. The only thing that you need to do is have betting accounts on multiple betting sites, and check all of them to find the best odds for the horse you are planning to bet on.
Adding this approach to your game will do wonders for your bottom line and make you a better and more efficient punter.
Final Thoughts on Win Bets in Horse Racing
If you are looking to get involved in betting on horse races, the win bet is the easiest one to learn so we would recommend starting with it.
However, just because this bet is easy to learn does not mean it is easy to master. This is why only around three to five percent of all horse bettors are profitable.
Learning one or two types of bets without a strategy will not help you become a winner. It is only when you master all of the aspects of horse betting that you can expect to make some money at the track!