Horse racing has been a popular sport since time immemorial. Not only as a sport but also as a means of gambling, horse racing has been in existence since times dating back to the ancient Greek and Assyrian civilizations. Although horse racing has undergone a lot of changes in general trend over the last centuries, there is no dearth of enthusiasm among participants who still flock to race turfs in the event of a derby.
Each country has its own set of specifications in matters of horse racing with significant differences in style of racing, events and distances associated with the same. Horse racing is also important because of its economic significance because of its large financial turnover in gambling. Statistics reveal a worldwide market valuation for the activity to be around $ (USD) 140 billion as in 2012.
If you happen to be a fan of old movies, you are bound to have come across scenes where the protagonist reveals his broke situation owing to betting on horse races. Gambling continues to be the mainstay activity in modern horse racing practices. However, at some races, the practice of gambling is considered to be illegal. Home of the famous Toronto-Dominion Bank Carolina Derby and Colonial Cup Steeplechase, the Springdale Race Course in Camden, South Carolina each considers gambling on horse races to be illegal owing to passing of prohibition laws in 1951.
In most of the horse races, a gambling station is set up. This is a place where the gamblers can stake up the money on a horse and back it to win. In parimutuel betting practices, gamblers’ money gets pooled into and is proportionally shared among the winning candidates after a certain proportion is deducted from the pool. Countries like Australia, UK and Ireland offer more popular methods where bookmakers setup odds in favor of the horse they deem champion. The gambler thus has the opportunity to place his bets as per his favored odds on any horse at any given instant. Such gambling practices not only provide some ready cash to the participants but are also a great way to enhance the revenue of the nation considerably in the form of taxation. An annual wager of USD 100 billion is said to be the output in tax collections from 53 different countries.
In keeping pace with the changing times, betting and gambling on horse racing has found its rightful place on online portals like so many things under the sun. Besides the traditional method of placing bets on odds with a bookmaker, punters can now lay money on and back a potential candidate on online betting exchanges. These people laying down the odds are effectively said to be working as bookmakers. The odds-in-favor and against are primarily determined by the market conditions at betting exchanges that get dictated by the activities of their participant members.
A large number of online portals are available today that deal in bets on horse racing and authentic off-track events. A bookie can sit from the comforts of his own home and bet on all the races that are in action for the day. Most of these websites offer great rebate offers so that in either event of a win or a loss, the returns are significant. Placing bets on horse racing from online portals is very much similar to what goes on at a gambling station at the race turf. The difference remains that you don’t get the general hustle-bustle of the place and can generally take decisions while sipping a cup of hot cocoa. All transactions are carried out from accounts and are secure, so there need not be any worry on that front. One does not lose or win more than what he deserves.
The next time you plan to earn through bets on horse racing, check out the listings on our website for favored situations on the derby and participate in the winning shares from the cozy comforts of your home.