Japanese horse racing offers many exciting opportunities for the bettor. When you wager on racing from Japan with an online racebook you will encounter odds that are offered on each betting selection. Better odds on the horses you choose means that you will stand to make a better profit.
Here is a closer look at how Japanese horse racing odds work. You will find that the process is similar to the odds given at tracks in other countries.
Japan and Parimutuel Horse Racing Betting
One of the things that makes Japan horse racing odds more attractive to bettors is the use of the parimutuel wagering system. As we will see, the parimutuel system is also what makes it legal to wager on races in most places throughout the world. This includes many states in the US and its territories.
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Parimutuel is a word of French origin that means “betting among ourselves” in English. It identifies a type of horse betting where bettors place all of the wagers into a common pool. Those who pick the winning horse in a race are paid from the pool. Those who lose receive nothing. The money wagered by the losers is used to pay the winners.
This system is perfect in that it allows odds for each horse in a race to be created based on the amount of money that has been wagered on it. A mechanism called a Totalisator is used to make the computations, and the current odds are displayed to bettors on a tote board. At your online racebook you will see the odds displayed on the screen of your computer, phone, or tablet.
Japan horse racing odds have long been determined by the parimutuel system, just as they are in the United States. In some countries like the UK and Australia it is also possible to make bets with bookies at the race track.
Understanding Horse Racing Odds in Japan
The odds are more than a tool which facilitates betting on Japanese horse racing. They are also a reflection of the betting public’s opinion. The odds on a specific horse in a given race reveal what the betting public thinks about that horse’s chances to win. No more, no less.
The favorite in a horse race in Japan is the horse that has received the most win bets from the bettors. This does not mean that the horse is the most talented runner in the field. In fact, more often than not the favorite is apt to be beaten. This is because the odds are determined by bettors just like you who are making a speculation about a horse’s ability.
All over the world favorites win an average of 33% of the time, or one out of every three races. This is not a reflection of talent. It is a reflection of the public’s ability to pick a winner. The public is right 1/3 of the time. If you take time to think about the variables in horse racing, this isn’t bad. Still, there will be a problem for the bettor who only wants to make a wager on favorites. The problem is that almost all favorites are offered at even money or lower odds. By the standard that we mentioned, favorites should be priced at a minimum of 3-1.
If you are betting on Japan horse racing at an online racebook you will soon go broke if you only play favorites. They do not win enough to make the bet profitable.
Acceptable Japanese Horse Racing Odds
We always recommend that beginners at horse race betting in Japan stick with the basic bets. Betting to win is the best option after you have done your homework and chosen a winning horse. But picking a winner is not the end of the process. You also have to limit your bets to winning picks that are offered at 3-1 or more.
This means that you will have fewer betting opportunities. It also means that you will have a better chance to make a profit. The challenge for some horse racing bettors will be discipline and being able to pass a race.
This is one of the advantages of using an online racebook in Japan to make your horse racing bets. You have access to all the horse racing tracks, and you can make bets at any hour of the day or night. If there is not a betting opportunity available right now, just wait a few moments until the next race begins.
You can start wagering on Japanese horse racing right now when you sign up for an account with one of our recommended online racebooks. You can even qualify for a bonus when you make your first deposit. Betting is available on your computer, phone, or tablet right from the comfort of home. See our Bovada racebook review, Betamerica review, or AmWager Review. All great choice if you are in the US. 5Dimes review for folks anywhere!
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