Off-Track Horse Betting
1. An Eye-Opener;
We already know that there are different racing categories that are always available in many different online betting websites; these include motocross or the motor bike racing, the cycling or the bicycle racing and the traditional ever famous horse racing.
There are also different forms of betting in accordance with these racing types, there are gambling and betting on the racing fields itself, there are also personal contests between the bettors themselves and the most anticipated of them all, the kind of betting that is actually getting more popular and wide spread when it comes to market, the online betting.
A lot of websites tackled those topics comprehensively giving the readers a thorough knowledge on many sub topics such as, histories, the process of the games, the rules and regulations on betting, how to bet and some even give tips and clues on the probability of the results. This actually is very advantageous to the players to really wanted something to learn not only about the race they wanted but more importantly the idea of being hopeful and having the chance of not only enjoying the fun and excitement of the game but of winning the probability of luck.
But in horse racing category, aside from the betting that happened on the racing field and besides online betting, there is one type that the player could place their wager on the horse they wanted to win the race, the off-track betting.
2. What is Off-track Betting?
Off-track betting or the so called OTB is a type of betting particularly on horse racing outside the race field, it offers an alternative system of betting especially dedicated to those betting enthusiasts who happened to be far located to the race track and who has no access to internet. Off-track betting was held on any authorized OTB outlets which usually are located inside barrios or street. Considering that Horse Racing is actually the closest rival of the most popular sports in the US, the baseball, it was also making waves on some of the countries to be the most promising event and this was proven during the 1989 horse racing event which was attended by almost 56.2 million people on its more than 8000 days of racing and garnered almost 10 million dollars in wagers.
Horse racing became a distinct profession in some of the westernized countries such as Australia, Western Europe, South America, South Africa, Canada, Great Britain, Ireland, New Zealand and some of the countries in Asia like Philippines, Malaysia, Thailand and others. And OTB plays a vital role on the expedition and widening of the market of horse racing as the betting systems were extended outside the race tracks and besides online betting.
3. One Betting System:
Not to mention the additional tax that the state or the government are receiving because the authorized outlets that hold off-track betting allot a portion of the total wagering amount to cover the tax and other government fees. Of course, some other portion would be allotted as profit of the authorized OTB outlet. And the additional amount of wagers minus the amount that is to be shared on the state or that is allotted to the government tax would be the amount that would be proportionally fractioned to all the bettors who were able to catch the luck of deciding to put their wager on the right horse.
In short, this amount would be equally shared by all the winners and this system of reward is called “Mutual Betting”. Mutual betting (Parimutuel Betting in French) is a reasonable system for players who put wagers on horse racing without even being present on the race track personally, and would secure predetermined earnings for the bookmaker in general and for the OTB authorized dealer in particular. But parimutuel betting is not only about horse racing, it includes some sporting events from which the result is through ranking, this includes, jai alai, greyhound racing and other related sports. This system can also be used in some lottery games such as lotto and the likes. It is usually administered by the government or the state to further facilitate the legitimacy of the game.
4. Placing a Bet in OTB!
Just like any other games that are set by the bookmakers or the OTB authorized outlet, there are also procedures in placing your bet, this is important especially to those who are new in the industry.
And to give more clarity on the games, we provide the simple steps that would help the bettors analyze how to place their bets.
- First, know the track that you want to put your wager. There is a specific portion on the website, (if you are betting to an online OTB) that would enlist the schedule of the tracks that would be played. List of the tracks are also shown in one part of the authorized OTB outlet.
- In every track, there would be a list of race that the bettors need to know in order to choose which race of the tracks he/she wanted to place the bet.
- Of course, the bettor should know how much bet would be reasonable to gamble. It is the bettor’s responsibility always to manage his earnings, and what portion of it he should allot for fun specifically for betting.
- The bettor also needs to know and understand the different types of wagering system. This would determine how the bet runs would and how it would be rewarded.
5. Types of OTB Wager!
Before knowing the steps on how to put a wager in an OTB authorized outlet or either in an online betting for a horse racing, the bettor should also need to understand the different types of wagers. This is needed because the bettor should tell the organizer or the teller which type of wager he would want to place his bets. Therefore, to give you an overview on the different types of wager, here are something that would probably lingers in your mind when placing a bet. We would want the bettors to clearly understand, so we would write this the simplest form.
- Straight Bets – (single horse betting) Placing a bet on a particular single horse, it can be categorized as follows;
1. Win – if the bettor puts a wager on a particular horse that finishes number one on the race, the bettor wins.
2. Place – if the bettor puts a wager on a particular horse that finishes number one or number two on the race, the bettor wins.
3. Show – if the bettor puts a wager on a particular horse that finishes either first, either second or the third on the racing event, the bettor wins.
- Multi-horse Betting – Placing a bet on more than one winning horse, either two or four.
1. Quiniella – Placing a bet on two selected horses on a single race in no particular order, meaning the better must pick the two winning horses, no matter what the order is.
2. Exacta – Placing a bet on two selected horses on a single race in exact order, meaning the bettor must pick the two winning horses and identify the first and the second.
3. Superfecta – If the bettor wants a mesmerizing but reasonable amount, he should put a wager on Superfecta type. On this type, the bettor should pick the winning four horses in definite exact orders, meaning the bettor would pick four winning horses and identify which from these four horses would finish the first, the second, the third and the fourth.
- Multi-race Betting – Placing a bet in more than one race, either two races, three or six races that should be in consecutive orders is the objective of this type of betting. Though these types of betting are quite difficult to achieve, there are still many bettors who are interested to put their wagers on these type because of the amount of the reward which are quite high as compared to the other types of wagering system.
1. Daily Double – the bettor must pick the winners of two consecutive races.
2. Pick 3 – the bettor must pick the winners of the three consecutive races.
3. Pick 6 – the bettor must pick the winners of the six consecutive races. Quite difficult to achieve but the reward is so promising.
6. Off-track Betting Terminologies:
It is also important to learn and understand different terms and vocabularies in accordance with the OTB. This is advantageous to the bettors especially to the new players as many among the terms are jargons and high defining words. Some of the terms to remember in OTB are as follows;
- Wager – another word for bet
- Parlay – placing a bet on the next race using the previous winnings
- Stick – A jockey’s wand
- Abandoned – cancelled race
- Stipes – other word for stewards
- Walk-over – a one horse race
- Store – a bookmaker
- Wise Guy – an expert bettor with knowledge on everything
- Strapper – assistant to the trainer
- Under Orders – Beginning of a race
- Stretch – in between the race track and the finish line
- Across the board – three in one wagers (win, place or show)
- Stud – a male horse that would be used for breeding
- Wire – race’s finish line
- Sire – a horse’s father
- Tipster – the one who gives tips about the race
- Scope – about a horse’s potential
- Ajax – Betting Tax
- Schooled – a trained horse
- Ticket – betting ticket
- Run Free – A horse in great speed
- Value – best odds on the wager
- Dead Heat – tie between two or three horses
- Runner – horses that would participate on a race
- TAB – Totalisator Agency Board
- Returns – a fraction you can get from a specific bet
- Apprentice – Jockey on training
- Official – signifying the result is final
- Nickel – a bet of 500 Dollars
- Restricted Race – a race with not all the horse can participate
- Money Rider – rider who standout in an expensive race
- Sure Thing – Unbeatable horse as per the tipster
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