Placing a bet on a horse race in New Zealand can be a confusing thing with all the different terminology and various kinds of bets. Having a sound knowledge about not only the sport but also how the betting process works is essential for a successful wager.

It is all very well to go to the races and take a fun bet either online or physically at a bookie, but of you want to actual profit from your wager you will need to know what you are doing.

Types Of Bests

There are a number of different bets which one can place on not only one horse but also a number of horses in either one race or over a period of races or time. Some of these bets are statistically very hard to win, and will therefore pay out very well if you get them right, and some are easy to predict and so will not pay out as well.

A Win Bet is the most simple of the bets offered by bookies. This is basically whether a horse will win the race or not. These bets are often placed on the favourite, which means that the horse will have very high odds. The higher the odds, the less money you will earn back if your wager is correct.

A Place Bet is similar to a Win Bet, except that your chosen has to only place or come either second or third. This is also a bet which is usually placed on the favourites of a race.

Each Way is also known as a hedge bet. This is a good way to bet on a horse and collect if they come anywhere in the top three. Basically, if your horse wins with an Each Way bet, you will take home the Win Bet, and if the place you will take away the Place Bet. This bet does, however, come at a higher price than either of the respective bets alone.

A Quinella bet is a bet on two horses, again usually favourites. You predict which horse will win and which will come in second. If you are right then you will be paid out a quinella dividend. This bet can be increases as you wish, which will, in turn, increase the dividend.

A Trifecta is a bet which has very low odds of paying out, but if you do get it right it can be extremely lucrative. This is basically a bet on which horses will come in first second and third.

Knowledge Is Power

As with any type of sports online betting NZ, having a sound knowledge of the sport and its athletes is imperative to successful wagering. Knowing not only the horses but the trainers and the track will give you a boost over the person next to you who places a bet without knowing all of the facts.

Statistics on horses and trainers are easily accessible online on a number of sites. Comparing their performance on various types of tracks, whether they have been rested recently and who they have won against is a good start to building your knowledge and having a positive horse racing experience.