Betting on horse racing or horse betting[1] commonly occurs at many horse races. Modern horse betting started in Great Britain in the early 1600s during the reign of King James I. Gamblers can stake money on the final placement of the horses taking part in a race. Gambling on horses is, however, prohibited at some racetracks. For example, because of a law passed in 1951, betting is illegal in Springdale Race Course, home of the nationally renowned Toronto-Dominion Bank (TD Bank) Carolina Cup and Colonial Cup Steeplechase in Camden, South Carolina.
Where gambling is allowed, most tracks offer parimutuel betting where gamblers’ money is pooled and shared proportionally among the winners once a deduction has been made from the pool. Parimutuel betting also provides purse money to participants and a considerable amount of tax revenue, with over $100 billion being wagered annually in 53 countries. (資料來源)
In North American racing, the three most common ways to bet money are to win, to place, and to show. A bet to win, sometimes called a “straight” bet, means staking money on the horse, and if it comes in first place, the bet is a winner. In a bet to place, you are betting on your horse to finish either first or second. A bet to show wins if the horse finishes first, second or third.
Since it is much easier to select a horse to finish first, second, or third than it is to select a horse just for first, the show payoffs will be much lower on average than win payoffs. If there are a small number of horses in the race, show or place bets may not be offered (or if bets have already been made, they are cancelled and the wagered amounts refunded). (資料來源)
