Horse racing is one of the most popular sports to bet on around the world, with millions making wagers on the world’s biggest races such as the Kentucky Derby, Grand National and Melbourne Cup. These races aren’t just massive betting occasions, but they are huge social engagements.

They are dates that stand out on the calendar as ones that are among the biggest sporting events of the year.

Betting on these events is immensely popular with both newcomers to betting on the sport and experienced gamblers. Nonetheless, it’s important to consider factors and check the free past performances by TwinSpires before placing a bet.

However, what are the best betting markets to consider using when betting on horse racing?

Win Betting

The easiest betting market to understand when making a wager on horse racing is the win wager. For many, this is the go-to market available with the leading sportsbooks and is the easiest to understand for those placing their first bets on the sport. Essentially, a win bet must be placed on the horse that will win the race that they are running in.

Stakes are lost should the bet be placed on a selection that finishes anywhere other than the top spot. Most importantly, research should be conducted before making a wager, as this is the best way to narrow down the pool of potential winners in the race.

Each-Way Betting

While many opt for the win market, there is certainly appeal when it comes to the each-way betting market too. Here, the bet placed will cover both the win and place markets, meaning that gamblers can get returns should their selection come second or third. This is an especially popular market when betting on races with bigger fields, as the leading sportsbooks will offer more places.

That means bettors looking to wager on the Grand National could get up to six places on their wager. It is an interesting betting market that offers extra incentive to go for an outsider in the field, as they will only need to hit the board to get considerable returns on your bet. However, once again, research is an integral factor that must be carried out.

Exacta/Trifecta Betting

More experienced bettors will be interesting in the exacta and trifecta betting options available. Here, the best must correctly predict the horses that finish first and second for nail the exacta, and first, second and third to get returns on the trifecta. It is one of the most precise betting markets available to bettors, as all factors must be correct in order to get returns.

However, the potential returns that bettors can get from these wagers far exceed what you can expect to get from the win and each-way markets. Alternatively, punters can instead opt to place reverse exacta and reverse trifecta bets. In this market, the selections can finish in any order in the top two or three, and bettors will still be able to get returns from their selections.

Multiple Betting

One option that is extremely popular with horse racing fans is multiple betting. This type of bet allows gamblers to add more than one horse into a wager, with different options available. The most common is an accumulator, but all horses involved in the bet must win in order to get returns.

However, the preferred option for many experts is the Lucky 15. This type of bet requires four horses to be added to your betslip, and a small wager can be placed on each line. In total, it covers 15 different bets, made up of singles, doubles, trebles and the four-fold. A $1 bet on each line is a total stake of $15.

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