One of the best things about betting on horses is that there are so many bets available to the gambler. You don’t have to settle for betting on a horse to win. In fact, making a win bet on a horse might not be the best way to go. We often get asked, “What is the best bet in horse racing?” “What is the smartest bet in horse racing?” This is a difficult question to answer, but here are a few insights that might help you decide which bet works best for you.
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Understanding Horse Racing Betting
Before we can uncover the best bet in horse racing today, let’s refresh ourselves on the different types of bets that are available. Most horse racing bets can be broken down into two categories. These are straight wagers and exotic wagers.
Straight wagers are bets that involve one horse and one specific outcome. These bets include:
Some bettors regard a straight horse racing bet as the smartest bet in horse racing. They reason that it is much easier for the bettor to win a bet when there is only one horse and one outcome involved. We’ll surely agree that this type of betting simplifies the handicapping process. All you need to do is pick the horse that you think will finish first, second, or third.
The downfall of a straight wager is that the return can be very low. If you are betting a horse to win at odds of 2-1 you will get back a little over $6. For place bets and show bets the return can be even less. The odds of each horse affects the profitability of the bet you make. You can improve your ROI, or return on investment, by only backing horses that are offered at odds of 3-1 or better.
An exotic wager is a bet that involves multiple horses, multiple races, and multiple outcomes. Bets that fall into this category include:
- Pick 3
- Pick 4
- Pick 6
- Daily Double
Exotic bets can be more difficult to win, but they can also yield a larger reward for the handicapper. Some horse racing bettors choose to focus exclusively on these wagers above all others. For those who want to bet a little to win a lot, exotics are the best bet in horse racing today.
Deciding Which Horse Racing Bet Is Best for You
When asking yourself what is the best bet in horse racing it can also help to consider your own personality and betting habits. Are you the kind of handicapper that wants to make a huge score on a single bet? Maybe you are one who is patient and is looking to build a large bankroll over a longer period of time.
Straight wagers are going to produce a slower, more consistent yield for the cautious handicapper. You could compare them to growth stocks for the investor in the stock market. None of these bets is going to make you rich, but they can increase your overall winnings over time. Exotic wagers can produce huge windfalls. Some of these can even be life changing. A few Pick 6 jackpots have paid out six figures on one winning ticket.
You also need to examine how you handicap. If you are someone that does not really like the handicapping process, picking individual winners might be easier and more pleasing to you. If you are someone that enjoys the intellectual challenge and finding multiple winners and long shots, you may have what it takes to be an exotic, swing-for-the-fences type of bettor.
Just remember that nothing is going to work for you if you don’t do the work required to pick winners in horse racing.
Now that we have given you some basic information about the best bets in horse racing, we are going to answer the question directly. Here is what EZ Horse Betting thinks is the best bet in horse racing.
The Daily Double – Horse Racing’s Best Bet
In our opinion, the Daily Double is the best bet in horse racing, smartest bet in horse racing. Before you send us emails or leave us comments about our choice, remember that this is just our opinion. In truth there is no way to identify the one bet in horse racing that is superior to all others. There are just too many choices on the betting menu for a single bet to please everyone.
Here are some of the reasons we chose the Daily Double as the best horse racing bet. It is a simple exotic wager that provides a chance to win a larger payoff than straight wagers. It only requires the bettor to pick two winners of two consecutive races. Finally, the takeout on the Daily Double wager can be less than it is on some other exotic bets. We’ll explain a bit more about these reasons shortly, but first a refresher on what the Daily Double bet in horse racing is.
The Daily Double requires the bettor to pick the winners of two races in succession. On many race cards the Daily Double is offered on races one and two. In recent years it has become popular for race tracks to have a rolling Daily Double that begins on race one and continues through the entire race card. There are Daily Doubles offered on races 1 and 2, 2 and 3, 3 and 4, and so on until the end of the race card.
Because it requires the bettor to pick just two winning horses in two separate races, the Daily Double is one of the easiest exotic wagers to make and win. Rather than trying to pick several horses in one race, all you need to do is pick one in each.
The payoff on a Daily Double can often be $20 or more for a single $2 bet. That is odds of 10-1 on your money. You won’t get rich making it, but over time you can make a nice profit. Finally, the takeout on the bet is smaller than some other exotics. The takeout is the money that the track deducts from each race to pay purses and other expenses. This can be very high on some exotic wagers.
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