Learn the Best Horse Race Odds for Beginners

If you are a Canadian gambler who is considering putting some money on the ponies for the first time, then it is important that you understand at least the basics of horse race odds. Basically, the one thing that you want to remember is that the higher your odds of winning, the lower the payout and vice-versa.

Getting Started

First, you will need to know how to place a bet. If you're on the web, then things are fairly simple. Navigate to the page that hosts the racing events, choose the track and the race number, choose the type of wager you want to place and then determine the amount you want to spend. Finally, make sure that you double check everything before you submit it.

Now, before you start making your picks, you should understand that there are certain pieces of information you will need before you can make wise choices. First of all, do some research on not only your favorite, but research ALL of the contenders. Find out how they stack up against one another and how they've all performed at the particular track previously. Find out how skilled the jockeys are and whether or not they have a good record.

Understand the Wager

You will also want to make sure that you understand the differences between all of the different types of wagers you can place. While it might seem like a no-brainer to put your money on the favorite, there might be some better ways to earn cash. Take a close look at what is being offered to you and make sure that you do your calculations. If you see something that looks good, go for it! Just make sure that you don't put all of your eggs in one basket.

Finally, make sure that you understand the differences between American, fractional and decimal horse race odds. You'll see plus (+) and minus (-) symbols with the American version, a decimal figure (2.00) with the decimal choice, and a fraction (1/2) with the fraction option. You can calculate the potential payout quite simply in this manner, keeping in mind that most Canadian sportsbooks prefer first the Decimal system and then the American.

In Conclusion

Horse race odds aren't really that hard to understand, but trying to learn everything about them in a single sitting can be a bit overwhelming. Start simple and then work your way up, but make sure that you're putting small amounts of money where you feel it can be beneficial. It will only help you learn in the long run.

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