EZ Horse Betting knows that many of our readers take online racebook wagering seriously. They want horse handicapping tips that will help them cash big tickets. But betting on race horses doesn’t always have to be so serious. It can also be fun. One of the best ways to have fun with your horse racing friends is to create a pool of money and try a show parlay. You’ll basically be trying to turn a simple show bet into a big profit. Here is how it’s done.
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What is a Show Parlay?
The show bet in horse racing is not a bet that we would usually recommend for serious bettors. It doesn’t really offer the kind of payout that one needs to succeed at race betting. To win a show bet, the horse you choose must only finish third or better. Sounds simple, right? It is actually harder than you might think. Many people have more luck picking a winner of a race than they do a horse that will finish no worse than third.
When you make a show bet on a favorite you’ll be cashing a lot of tickets, but the profits won’t add up to much. You might make as little as $0.20 profit on a single $2.00 bet. That means you would need to win ten show bets in a row just to break even. So, as you can see, show betting is a poor strategy if you want to make serious money at an online racebook.
Show betting can be a great source of fun, though! This is especially true for those individuals who like to enjoy racing as an event. They aren’t really worried about winning a lot of money. All they really want is the chance to have some fun and cheer on a horse or two. For these people, show betting is very acceptable. It can be even more fun when you try to make a show parlay.
In a show parlay you are going to roll over the winnings from each show bet into the next show bet for the whole race card. Let’s say that you bet $2 to show on the first race and win $3. Your next bet will be $3 to show, and so on. You try to keep this win streak going for all ten races on the card. At the end of the day you could have a sizable profit. Of course, if you lose just one show bet then all your profits are gone.
A Show Parlay With Friends at an Online Racebook
The Internet has become more and more about social activity. Individuals like to hang out with one another online. There is no reason you can’t do the same thing with horse race betting. All you and your friends need to do is create an account at an online racebook. We have recommended several of these racebooks for you to choose from.
Actually, only one person in your circle of friends needs to have a racebook account. But it is more fun if you can spread around the opportunity to make the bets. Everyone will feel more included when you do this.
On race day you will all decide how much you wish to initially invest in your show parlay. We would recommend beginning with around $20. Each person in the group will contribute the same amount to the pool. Then the members all decide which horses they want to be on in each race. One member of the group is designated to make the show parlay bets on behalf of the pool.
If the first bet is made and is a winner, the profits are then added to the pool for the next bet. This keeps happening until you win all ten races or you lose a bet. Once you lose the parlay is over and you will have to try again another day.
We’ll be honest here. Winning this type of bet is a lot like winning the lottery. The chances are very slim that you will win all ten show bets on a given day. But if you do the profits can be nice. And in each race that you bet you will have a chance to root for a horse to win. That kind of excitement is what horse racing fun is really all about.
Some Tips For Show Parlay Betting
These are a few things you might want to keep in mind when trying a show parlay with your horse racing friends. Remember that favorites in horse racing are usually a bad choice when it comes to betting. But when making a show parlay you want to stick with horses that have the best chances of running third or better. A favorite may not always win, but it is more often or not in the mix when it comes to a show bet. So don’t toss away favorites in your show parlay.
Don’t risk your show parlay bet on a longshot, at least not until the end. It is true that show bets on longshots can pay a lot of money. But these horses don’t finish third or better very often. Remember, if you lose just one show bet in the sequence you are out of the game for good. Save the longshots for a straight wager.
Have a plan in place to split the winnings of your show parlay. Friendships have been ruined over racing pools that were ill conceived. Make sure everyone gets their share of the winnings when you win the bet.