Betting on horse racing is an extremely popular pastime across the globe. Traditionally, we associated betting on the horses with the track itself, but the introduction of online betting means we can now place wagers on a race taking place anywhere in the world.
We’re going to show you where New Jersey residents can bet on horse racing events online. Read on for a detailed review of horse racing bet types and the best strategies to employ to increase your chances of success.
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Betting On Horse Racing In New Jersey
Online sports betting is now legal in the State of New Jersey. A wide range of bookmakers has now infiltrated the New Jersey betting scene, offering odds and markets on an array of sports.
Only a few, however, offer horse racing betting opportunities. BetAmerica is one of these and offers a separate horse racing site that covers races from the USA and beyond.
Horse Racing Betting Types
There are many different types of horse racing betting. We’re going to discuss the most common in more detail shortly.
Most bookmakers offer a good range of horse racing betting types. Find a bookmaker who gives you as many betting options as possible.
A Win bet is exactly what it sounds like: you bet on a horse to win a given race, in other words, to get past the post first. The Win market is the most common bet type in horse racing betting.
Each race will have a favorite or joint favorite. Beware of odds-on favorites, though. These don’t offer much betting value at all and are rarely worth the risk.
Place betting is another popular type of horse racing betting. This bet means you wager on a horse to finish first or second.
This is slightly different from an Each-Way bet. In races where a number of horses are competing, an Each-Way Bet could include your horse finishing third/fourth. Place options will be listed on your racecard.
A Place bet generally comes with a reduction in odds. Your stake will be split between your horse finishing first and your horse finishing second.
Certain bookmakers, like BetAmerica, allow you to wager on the Win-Place market. Your stake will double as essentially you’re betting on each outcome.
A Show bet is when you place a wager on a horse to finish first, second or third. A very popular bet in New Jersey horse racing betting, this bet offers the least amount of risk but the least amount of reward too.
The above three horse racing betting types are the most common. There are, though, other opportunities to bet on the horses which can reward you with larger payouts. These are known as Exotic markets. Let’s take a look at some of the most popular.
With this horse racing betting type, you place a wager on two horses in the same race to finish in first and second place in that exact order.
A Quinella bet is where you place a wager on two horses in the same race to finish in first and second place in any order.
Trifecta betting is where you choose which horses in the same race will finish in first, second and third place in that exact order.
Similar to above but with an extra place, a Superfecta bet is where you choose which horses in the same race will finish in first, second, third and fourth place.
With a Daily Double bet, you pick two horses in separate races to win. If both of your selections past the post first, you win your bet.
For a Pick 3 wager, you select three horses in separate races to win.
This horse racing betting type sees you pick 4 horses in separate races to win.
As above, but with an extra horse, pick 5 horses in separate races to past the post in first place.
With this horse racing betting type, pick 6 horses in separate races to win. This is the biggest bet in horse racing, and the most difficult to win.
Across The Board
An Across The Board bet combines the Win, Place, and Show markets. Wager on Across The Board and if your horse wins, you win all three parts of the bet; finish second you win the Place and Show parts of the bet and third place you’ll win the Show part.
There are other horse racing betting types that might suit your betting needs more accurately. These are called Box Bets and Wheel Bets.
A Box Bet is where you can select more horses than a bet actually requires. So, with a Box Quinella, you can pick more than two horses to finish in first or second. The more horses you add to your bet, the higher the required stake.
A Wheel Bet is similar to the Box Bet above, with the addition of being able to bet on a horse to finish in a specific spot. With a Quinella Wheel bet, you can bet on a horse and any other horse in the race to finish first or second.
Both Box Bets and Wheel Bets can be combined with most Exotic markets we’ve listed.
How To Read A Horse Racing Program
With horse racing betting, a horse racing program is important. Those new to betting on horse racing may be confused when they first see a program of this nature, but once you break it down it’s really quite simple.
A horse racing program is designed to give you as much information as possible about the horses, jockeys, past results, performances and more. Use this info to your advantage in order to give yourself a better chance of success with your wagers.
Let’s take a closer look at what you should expect to find in a horse racing program.
Horse Name & Jockey Name
Sounds obvious, the first thing you’ll notice in a horse racing program is the name of each horse and which jockey will be riding. You may also see the name of the owner and trainer.
It’s worth looking through the rest of the program to see which other horses that jockey is riding and if any horses share a trainer and/or owner. Many of the most successful horses come from the same stables.
The Past Performance section gives you all the information you need to know about how well your horse has performed in previous races. The most important parts to look out for are the following:
- Course Conditions
- Course Type
- Race Restrictions
- Final Time of Race
- Type of Race
- Finish Position
- Number of Horses
- Jockey Name
By taking account of this information, you can judge whether a horse will perform well in the next race. Is it a similar course? Are course conditions the same? The chances are a horse who performed well in similar circumstances will perform well here too.
For example, a horse that performs well in the flats may not succeed in other types of race. Or, a horse that won in a field of only four other competitors may struggle in a bigger pool of horses.
Studying a horse’s records is also key to successful horse racing betting. These records will reveal a number of aspects.
First up, you will see the yearly record of each horse. Alongside, you can read career statistics.
You can also see details on how well a particular horse has performed on certain track types. It’s also possible that the Records section will give you information about how much the horse is worth and how much they’ve accumulated in winnings.
The most important part of the Records section is the number of Wins. Generally speaking, a horse that wins consistently could be a good bet, if weather conditions and type of track suit.
Race Type Codes
With so much information provided, horse racing programs have to condense information as easily as possible. This is where Race Type Codes come in.
The most common Race Codes you’ll see are the following:
- Stk: Stake
- Hcp: Handicap
- Shp: Starter Handicap
Conditions And Symbols
In addition to Race Type Codes, there are many more symbols provided which, if you’re new to horse racing betting, will appear confusing. It’s extremely important you understand what these track symbols mean. It can help you judge how well a horse might perform more accurately.
Typical track condition symbols and their meanings are listed below:
- fm: firm
- sf: soft
- gd: good
- hy: heavy
- sl: slow
- fz: frozen
- ft: fast
- wf: wet fast
- hd: hard
- yl: yielding
- sy: sloppy
- my: muddy
It’s important to assess the weather conditions, as these can have a huge impact on how the track runs. Read the Records guide to see if a horse you’re looking to bet on performs better on good ground, soft ground and so on.
Other symbols that are important to learn is in the Race Restrictions section. The most common codes are the following:
- R: Restricted
- S: State Bred
- F: Filly
- 3 Up: Races for horses three years old and older
How To Place A Bet On Horse Racing
So, now that we know the basics of horse racing betting and the aspects you should look out for, how can you place a bet? Many bettors prefer to place bets live at the track, and in New Jersey, there are options for you here.
We’re going to examine how you can enjoy horse racing betting online. There are a few online bookmakers who offer you horse racing betting opportunities. For this example, though, we’re going to use BetAmerica.
At BetAmerica, you can sign up to a dedicated horse racing betting site. You can bet on horse racing taking place all over the world, as well as watching many of these races live through the streaming facility.
To start betting on horses here, follow these steps:
- Head to the BetAmerica site
- Click on Take Me To Horse Racing
- Create your account
- Hit the Racing tab
- Find the race you want to bet on
- Click on the odds of your chosen horse
- Place your bet
Most bookmakers will provide you with much of the information you’ll find in a horse racing program. For instance, the name of the jockey and trainer, age, weight, and wins can be viewed easily.
Use the tabs to view more information, such as Jockey Stats, Trainer Stats and Horse Info. A major aspect in successful horse racing betting is to gather as much knowledge as possible. This will help you select bets and horses that stand a better chance of winning.
Horse Racing Betting Apps
An easy way to place horse racing wagers is to download a dedicated betting app. A mobile app can be used anywhere, so you never have to miss a betting opportunity no matter where you may be.
There are many horse racing betting apps available to New Jersey residents. The best horse racing betting apps will give you access to markets on races taking place across the globe, not just the US.
Remember, the key to successful horse racing betting is to do your research. This will help you hugely as you bid to become a successful bettor. The more knowledge you gain, the more likely you are to win consistently.