Every year the first week of May as the weather warms and we settle in to watch the boys of summer, we get to witness one of sports most exciting event series.
The Triple Crown…..
For six weeks we ride with the hottest thoroughbreds as they race to claim a place in history.
At this high point, many gamblers get that itch to throw a few bucks on the ponies. This is a great time to piggyback on that interest and get guys back in the fold with an eye on bigger events this summer like The World Cup.
But first we should get more acclimated with a few of the finer points in horse wagering. We want to round up business during the low season, but always without getting our ‘arses’ handed to us.
This Is Why We’re The Best!
Wager Types and Odds
The most common wager types are simple bets of Win, Place and Show where you pick a horse’s minimum finish spot in the race. A Show bet pays if the horse finishes in the top 3, a Place pays in the top 2 and a Win bet must win the race.
Besides those, there are a stable of exotic wager types with varying degrees of difficulty and thus bigger payouts. And while it can be a long shot to win some of these, the hit can be enough that we second guess ever even offering horses.
That’s why Premier’s recommendation is to keep exoctic options to Exactas, Trifectas and Daily Doubles. These are multiple horse wagers that tend to be the more popular choices; enough to satisfy an experienced player without astronomical exposure on a small ticket.
Horse odds look a lot like any other sports’ “odds to win”.
But here’s the kicker! The player never gets his odds “locked in”. Changes, and often big ones, come throughout the betting period depending upon how much action comes in on each horse. The more action, the lower the payout will be. This can play to the benefit of the house.
If a customer were to get a “hot tip” with a big payout, chances are he’s not the only one with this info. Late action can send a once 25/1 long shot into just a so-so 5/1 payout. Suddenly, we’re not sweating that win so much. But just as it can go for us, it can go against us as well. A favorite with little action can fall to a much larger payout.
This is where Premier’s experience begins to shine!
Horse Wagering Software and Advice
Premier Pay Per Head offers leading BLR software to all its clientele with customizable features on each and every track from places as far away as the UK and Australia. Offer as many or as few tracks as you feel comfortable and be in control of max payouts and max bets on each type of wager giving your players the action but at a risk with which you can live.
While you can give track odds on simple bets and exotics, it’s never recommended by us. A good standard “bookie” odds payout would be capped at 15/6/3 on Win/Place/Show and 50-1 on all exotics.
Sometimes a player does hit one of those more difficult wager types with a decent payout. Having set guidelines before the player ever makes a wager is essential. He must know what his max payouts are to avoid any complaints down the road. So that when a google search shows the track payout as $198, but he got awarded $102, he knows why.
Remember you’re not at the track pooling money together and this is credit. You carry the risk, you set the rules!
With strict control of capped odds and wager amounts, the races can be a good supplemental offering as we weather the low season in sports gambling. Premier will make sure you are protected in this lesser known but exciting option for your clientele.
So come gamble on our experience this Horse Racing season!