It is commonly known as Horse Racing, a popular sport where the punters (winners) place their bets on the horse(s) they bet on to win. It's without doubt one of the oldest sports in the world, with an estimated global betting industry in the trillions. There are way too many horse racing related events to mention but in North America the Triple Crown, also known as the Triple Crown of gambling, is probably one of it's biggest. It's a yearly event with the first race for the Triple Crown taking place in April.
The jockeys are usually selected by an experienced bettor, usually a professional who does this for a living and has a good idea of which horses have the best chance of winning and which ones should be kept out of a certain competition. The trainer is another professional, usually a former itv competition star or a coach. He or she will usually select the horse that has the most recent and highest past performances, it is then matched against other horses in a long drawn out competition.
It's easy to see how a horse can be selected on previous occasions. First of all, it is obvious that a horse racing selection is only ever going to make money when it wins, i.e. if there are no losses on the selected horse it will always be worth placing your bets on. The reason people make money is that there are usually many other selections that are also losing, so if they don't win that means that there are plenty of bets available that are not worthwhile either.
The problem with making a long drawn out selection is that the punter will have to pay out even more, in this situation the punter needs to spread his wager and hope for the best. This is not always possible, because the horse might end up winning but you won't make back the amount of money that you put into it. To do this, the punter needs to look at the track and the trainers. The place that the horse races at is an important factor as well, because if it is a fast track the horse will usually perform well. Therefore the choice is to either go for a fast horse or a slow one, this is called your "pre-bet" or your "post-purchase" if you like the term.
If the horse that you select is a fast runner then it may be worth putting a lot of money down on it and placing your own bet on who is going to win. This way you will make back the initial investment much quicker. Another good way to spread your betting is to use a mutuel pool. A mutuel pool is basically where a number of punters get together and bet on a horse, rather than just one person betting on the horse. This system works well because it encourages people to bet for a real winner and not just to place a bet.
One of the most popular types of wagering in the UK is called the bang up. This means that you place your stake with ease and you win or lose depending on how the race meeting goes. Most horse racing lovers will come up with their own version of this phrase, which is "it's a fine day". This phrase can also be used when a horse wins, because you know that you'll win the bet if the horse wins.
If you like betting on horses for profit, then you will need to know how to do some simple mathematics. In order to calculate your winnings, you have to multiply the total bet by the odds of each horse winning and divide by the number of people betting on that particular race track. For example, if someone bets 100 pounds on a horse that is third in line and the horse wins then you would win that multiplied by the odds of three. This will help you see whether you are getting a good return or not. However, if you are looking to bet with your luck then you might want to consider betting the total amount of money that you wagered and just hoping that the horse that you picked wins. This is called the totalisator method and is one that many punters have found successful.
Lastly there is the mutuel wager. This is slightly different to the tote bet as you add a bit of luck to the equation. A lot of people use this method when they bet a small amount and they know that only one runner will finish first or second, but it can be used in other races as well. This works the same as the totes method except that you add a bit more luck into the equation.