Have you given race track betting in Hong Kong a try? It’s one of the most exciting betting destinations for the handicapper. Many big bettors prefer to play Hong Kong races because of the generous payouts and large betting pools. The Hong Kong racing structure is one that benefits the bettor.
Here’s a closer look at how races in Hong Kong are organized. This information will be important to you when you bet at your favorite online racebook.
The Hong Kong Racing Association
Unlike some other jurisdictions in the world, Hong Kong has a central racing authority called the Hong Kong Racing Association. This organization is responsible for all things from managing horse racing meetings to overseeing betting both on and off track.
Compare this with the United States where there is no central organization. Each state is responsible for organizing its own horse racing meetings. The problem with this is that rules sometimes do not carry over from one state to another. This means that trainers which are prohibited from racing in one state may not be banned by other states.
In Hong Kong this is not the case. All rules are enforced from one track to another. This means that trainers, owners, and jockeys are more likely to comply with the existing rules. When everyone is playing by the rules there tends to be more competitive horse racing.
Limited Racing Venues
Hong Kong is a small territory when compared with other places in the world. But, it has a very large population. The truth is that the population of the region could probably support more than a couple of race tracks. Still, the HKRA has chosen to stick with just two primary racing venues. These are the Sha Tin Racecourse and Happy Valley Racecourse.
When less horse racing tracks are active in the country, there are fewer betting opportunities. Fewer betting opportunities means that the betting pools are larger and more active. The Hong Kong racing structure is meant to encourage betting by limiting the number of race tracks.
Fewer Races Means Larger Fields
Another byproduct of having fewer race tracks is that there are less races. Less races mean that horse trainers and owners have fewer spots in which to enter their horses. As a result, most horse races in Hong Kong go to post with 12 horses or more.
Why does this matter? Larger fields in horse racing are more difficult to handicap. When races are more difficult to handicap, the betting public finds it harder to establish a common favorite. This means that there are higher odds on many favorites. It is not uncommon to find favorites in Hong Kong that are offered at odds of 2-1. In America favorites are usually offered at even money or less.
Some bettors are intimidated by the large fields that are created by Hong Kong racing structure. They reason that it will be harder to pick a winner, and that is true. What they need to remember is that there are also more horses that can be eliminated from contention before the race begins.
Hong Kong Racing Structure and Class
Something that you will hear a lot about when you are dealing with Hong Kong racing structure is class. The classes for horses are somewhat simplified, ranging from 1-6. Class 1 races are reserved for the horses that are the most talented. Class 6 races are for the least talented. The Griffin Race is a special class that is allotted to horses that have yet to win a race in their career.
You need to be familiar with classes before you make any attempts to bet on Hong Kong horse racing. Understanding class is the only way that you will know when a horse fits into a specific race.
Why is There Structure in Hong Kong Horse Racing?
A common question that is asked is why horse racing structure exists? Not just in Hong Kong but in all places of the world. The answer is that horse racing would devolve into a chaotic event if there were no standards and structure in place.
Structure is what allows for betting to be conducted, and that is the primary reason we see it stressed in Hong Kong. In Hong Kong horse racing the parimutuel system of horse racing betting is the standard. This means that betting is conducted in pools among the bettors themselves. The race tracks deduct a portion of the pools to pay for expenses, pay purses, and make a profit.
Behind the scenes of any race track in the world is a complex system that is managed by something that is known as a Totalisator board. The tote board, as it is often called, keeps track of how much money is bet on each individual horse. The money that has been bet on each horse is what determines the odds that a bettor receives.
Why You Should Be Betting on Hong Kong Horse Races
The structure of racing in Hong Kong is exactly why you should be betting on these races. It was designed to allow the same odds that are offered on track to be offered to bettors at an online racebook. You can get a chance to win at the same large odds that were once only available online.
There was a time when online racebooks did not offer racing from Hong Kong. There was no agreement in place between the Hong Kong Racing Association and the online racebooks as to how profits could be managed and split. This is not the case today. The HKRA has licensed its product for use to many online racebooks.
It is also true that being able bet Hong Kong races online has opened up many new opportunities for the bettor. There are not many American bettors who would have the chance to visit a Hong Kong race track in person. The only way they can have that opportunity is to use a phone or table to bet from home. What could be more convenient than that?
Take a moment now and sign up to wager on Hong Kong horse racing with one of our online racebook partners. You will be given free horse racing tools, bonus money, and more when you create and fund your account. Consider the 5Dimes racebook because bovada, AmWager, Twinspires and BetAmerica only target US bettors.
Here are some more Hong Kong related topics:
- What Do You Wear To Happy Valley Races?
- Emma Jayne-wilson : Hong Kong Jockey
- Horse Race Betting In Hong Kong
- The Hong Kong Jockey Club
- $1 Billion Dollar Man Of Hong Kong Horse Racing
- Get Rebates On Hong Kong Racing Bets
- What Is A Griffin Race In Hong Kong Horse Racing?
- Hong Kong Horse Racing Bets
- Hong Kong Steward Advises Us Horse Racing Officials
- Why Do Favorites Win Less in Hong Kong Horse Racing?
- No Race Horse Breeding in Hong Kong
- Marcus Hersh – Hong Kong Horse Racing Expert