It is a popular sport world-over, especially in Ireland where it’s taken the shape of a peculiar type of national religion, and, while it might not rightfully be called the “king of sports” it certainly earned the name “the sport of kings”. Over time it has inevitably grown to be associated with gambling.

The sport’s greatest events are - to the present day - a great opportunity for bettors all over the world to put their handicapping skills to the test in an atmosphere close to that of a carnival. A good example in this sense would be the Cheltenham festival, annually flooded by throngs of Irishmen thirsty for gambling and Guinness.

Lately these renowned events became so popular, that - using the internet and online betting - everyone interested can bet, no matter where and on which continent they live. But let us take a closer look at what the lads at Cheltenham like so much about this sport ( besides the Guinness of course, I reckon it’s clear to everyone what they like about that)

The betting is done in three different ways: betting to win, to show and to place. Betting to win is the best-known type of race-betting but that doesn’t necessarily mean it’s the most common as well. Bettors place their wagers on a certain horse and if the chosen horse wins the race, they win and cash in according to the pre-race odds that were given by the bookie they used for placing the bet.

One is “betting to place” when he bets on a horse to come out first or second. In this case the chances of the given horse coming out either first or second are significanlty increased thus the bookie adjusts the odds accordingly. In case of a win the bettor will receive a lot less than he would have, had he bet to win.

The third type of bet used for horseraces is the bet to show. If the horse, the bettor put his money on, comes out first second or third ( that is shows up in the “top three”) then it’s a win for the bettor. However, odds on this type of bet are the the lousiest of the three, as the chances of getting it right are implicitly the best. In horse race betting - as in most sports - handicapping is everything. No matter what different online sportsbooks and gambling sites will tell you, thee is no foolproof strategy other than thorough and painstaking handicapping. Handicapping should stand at the base of everything a good bettor does: from choosing the type of bet to knowing which horse is the actual favourite of a race.