Ever since man first domesticated the horse, sometime around 4,500BC, horse racing of one sort or another has been conducted. Initially personal bets were made on races between two horses, basically to settle an argument on which was the faster horse. True thoroughbred horse racing has its roots as far back as Queen Anne, indeed today’s thoroughbreds can trace their ancestry back to one of three sires that were born around the late 1600’s and early 1700’s.
Horse racing is known as the sport of Kings but its appeal cuts across all social strata, with the advent of several horse races and the formation of the Jockey Club the betting opportunities have been immense. Billions of pounds are bet each year via both on course and off course betting. If there is one sport that you have placed a bet on then it’s probably Horse racing, most workplaces will run a sweepstake on the big races like the Grand National, Epsom Derby or the Cheltenham Gold cup. In Australia virtually the whole population are glued to their TV sets willing their chosen horse on in the Melbourne Cup. In America, where horse racing is second only to Baseball in terms of spectator sports, the Kentucky Derby is the first race in the American Triple crown, the following two races being the Preakness Stakes and finally the Belmont Stakes.
Horse Race Betting can take many different forms, similar to those bets conducted at Greyhound races. A punter can place a wager on the nose, that is to bet on a horse to be first past the finishing post, better odds can usually be obtained by betting on the order of the first 2, 3 or 4 horses to cross the line. But the really big money can be made via the accumulator system, this is where the gambler predicts the outcome of consecutive races again that can range from 2 to any number with the odds, and therefore potential returns increase with the number of races in the accumulator.
The most popular forms of horse racing betting are conducted on oval tracks, not all the track need be used, indeed there are some races that are straight out sprints. On the Flat means that the horses do not negotiate any jumps, hence betting is a little less risky, however when it comes to hurdles or steeple chases an extra element of risk must be factored into the wager and odds calculation.