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How to Bet on Horse Racing: Pari-Mutuel Betting

How to Bet on Horse Racing: Pari-Mutuel Betting

Sports Betting Picks DraftKings Sportsbook Insights

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By: DK.Network.Editors

VSiN horse racing expert Mike Somich breaks down pari-mutuel betting for horse racing on DK Horse.

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Horse Racing 101 Betting Tips

Pari-Mutuel Betting

Let’s dive deeper into what a pari-mutuel pool actually is and how it works. Let’s say you want to bet $10 on your horse to win. Now, the odds may be 5 to 1 when you place the bet, but because it’s a pari-mutuel pool, those odds will dynamically change up until the start of the race based on what everyone else is betting as well.

For example, you bet on the 4 at 5 to 1 with 20 minutes before the race begins. If someone else decides to place a large win bet on your 4, then the odds may drop to 3 to 1. This is commonly known as a horse getting bet down.

Conversely, if another bettor places a large bet on the 7 to win, then your odds on the 4 to win may go up from 5 to 1 to 7 to 1. This is referred to as a horse floating up in price.

Because bets are taken right up until the start of the race, the odds will consistently change. Many bettors prefer to wait until there’s just one or two minutes to post so they have a better idea of what the final odds will be of the horse that they want to bet.

WATCH:

See all of Mike’s horse racing 101 betting tips here: How to Bet on Horse Racing: Tips, Strategies for Betting on DK Horse

Betting on horse racing online has never been easier or more fun than with DK Horse. Add to the excitement of watching a race live by placing a wager on your picks and cheer them on to victory! Check out the upcoming horse racing schedule and bet on horse racing events, including the Kentucky Derby, Preakness Stakes, and Belmont Stakes, the premier races that make up the Triple Crown.

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DK.Network.Editors
Disclaimer

DraftKings promoters may sometimes play on personal accounts in the games that advice is offered on. Personal views on the games and strategies above do not necessarily reflect the view(s) of DraftKings and do not constitute a representation that any particular strategy will guarantee success. All customers should use their own skills and judgment in building lineups. DraftKings promoters may also deploy different players and strategies than what is recommended above. DraftKings promoters do not have access to any non-public information.