Horse Race Betting Basics

Horse racing is one of the world’s oldest sports. In its early days, the sport was enjoyed primarily by kings, queens, and other nobility. Formal wagering was introduced in the early 1700s, as the sport evolved. Today, horse race betting in the United States is available to the masses: anyone of legal age can go to a racetrack and bet on horses.

Horse race betting offers myriad betting choices, from betting on which horse will win to picking the top four horses in order in a single race. This guide focuses on thoroughbred racing, which involves horses racing on a flat, oval track with a rider, or jockey, on each horse’s back. The guide covers how to place bets, read the racing program and form, pick winners, and manage your money at the racetrack.

Though the exact layout and size of a racetrack can vary, all racetracks share the same basic elements.

The clubhouse offers indoor seating, usually with TV monitors of the race. It’s a step up from sitting in the grandstand and often has finer, more expensive dining options than the grandstand’s concession area.

The grandstand is an outdoor seating area adjacent to the clubhouse. It’s always on the same side of the track as the finish line, giving spectators a firsthand view of a race’s outcome. It contains the betting windows, where bets are placed, and a tote board, which shows odds and other infor­mation about the horses (see “Tote Board” later in this section). This is also where concessions and restrooms are located.

The track is a dirt-covered oval that’s 1/2–1 1/2 miles long. Poles are set every 1/8 mile and indicate the distance remaining to the finish line. Race distances are commonly measured in furlongs—1/8-mile increments.

The paddock is an enclosed area where horses are saddled and mounted before a race. Prior to the race, spectators may observe horses in the paddock to get an idea of their strength and disposition.

The starting gate is where horses are held immediately before a race begins. When the announcer calls “They’re off,” the horses race from the starting gate to the finish line. The position of the starting gate is generally not fixed and may be moved for races of different lengths.

The finish line—a fixed marker on the track that indicates the goal of each race—is where the action is. The line is equipped with cameras to help decide close races, known as photo finishes.

The tote board or message board shows the odds for each horse and other information about the race (for more about the tote board, see “How Pari-Mutuel Betting Works”). Note that there are two tote boards: one outdoors (inside the track oval) and one inside the clubhouse.