Horse Race Betting: Different Types, Different Bets

Horse Racing Betting Types

Fans of horse racing will be thrilled to learn there are many types of races. Leading online sportsbooks support wagers on all types of races and there are some great odds available. Before getting started with any type of betting, it is important to understand the types of races and how they work. As one of the oldest sports in the world, horse racing brings excitement and entertainment, along with some fantastic betting opportunities. Understanding the types of races will help bettors choose a wager and there are some betting tips that can be used depending on the type of race. Here, we take a look at these race types and the popular bets that can be placed online.

🏆Maiden Horse Races
🏆Claiming Race
🏆Allowance Racing
🏆Stake Races
💡Tips for Betting

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Maiden Horse Races

Maiden races are designed for young horses that are just getting started with their racing careers. With Maiden races, these young and inexperienced horses are allowed the chance to prove their pedigree. All horses will begin their careers as maidens and will enter these races. Also, any horse that has never won a race in the past will also be classified as a maiden. Once a horse breaks its maiden status by winning, it will then be able to compete in higher tiers.

When betting, maiden races are a great way to check out a horse’s potential.
The best way to handicap these races is by paying close attention to the bloodline of the horse as well as any human connections, such as jockeys, trainers, and owners. If the race has a few horses that have had previous starts, pay attention to them. Even if they did not finish in the money, they have more experience than other horses in the race and have a better chance of winning.

Claiming Race

This is the most popular form of a horse race and it includes a price for any horse that is in the race. This price indicates the cost to purchase the horse. Owners can sell their horses and it is possible for the horse to be purchased before the race begins. If this happens, the horse is now the property of the new owner when the gates open. However, any purse money that is earned will be awarded to the previous owner.

Since not every horse will be ready to compete in stake races, these claiming races are a great stepping stone.

The owner will set the market value for their horse and if it is a price that is appealing to other owners and trainers, the horse can be claimed. When a horse is claimed, it is an indicator that it is a good performer and has a good chance of winning. Bettors should take note of which horses are being claimed and base their betting on that information. In addition, a horse that is claimed multiple times or is re-claimed by an owner shows the horse has great value.

Allowance Racing

When a track hosts an allowance race, there is more prize money available and the competition is much higher. The horses entered in each race will meet certain conditions that can include age, past wins, or combined earnings. Horses entered in these races will be non-winners, aside from maiden races. The horse must carry a certain amount of weight or they can carry less weight due to various factors. The usual allowance weight is 5 pounds off the assigned weight provided the horse has not won a set amount of money. These five pounds make a huge difference. Most horses will run a length slower for every pound carried.

In the racing world, both owners and trainers are invested in the overall success of a horse. A horse that is able to break the maiden status shows that it has the potential to compete at a higher level. Allowance races allow owners and trainers to show off the progression a horse has made. These races are also used to assess the abilities of the horse in a competitive setting.
- The purses for these races are higher than the claiming race since there is more competition involved.

There are many things to consider when betting on these races. Aside from speed and pace handicapping, try to find a horse that is well-placed in the class. Many will place blind bets on a horse that has good numbers or has some wins. However, it is important to make sure that the horse is also proven at the class level.

Stake Races

This is where all the glory is enjoyed. Every horse owner and trainer hopes to enter their horse in a Stake race. This is the highest level of horse racing and allows the horses to compete in events like the Kentucky Derby or Breeder’s Cup. With these races, the owner must pay an entry fee and some of this money will be added to the prize money awarded.

For example, a horse that is running in the Kentucky Derby will require a $50,000 entry fee from the owner.

For bettors, it is important to know that Stakes races are divided into categories. This is done to make sure that there is always a variety of racing bets for the highest levels of competition. There are three grades with three being the lowest in the category:

Grade 1 Stakes are the best of the best.
Grade 2 Stakes involve the best horses from Grade 3 and the purses are higher.
Grade 3 Stakes have smaller purses, but competition remains pretty high.

These races have competitive odds and massive purses. These races attract world champions, however, there is a smaller field size.

Tips for Betting

No matter what class of race is being considered, there are always some key tips to use when choosing wagers. Here are our two tips to consider, no matter the race type:

Always find out as much about a horse as possible. One thing to consider is the movement between classes. Throughout the year, horses move up and down in class based on performance. Moving down a class can be a good thing for a bettor. If a horse has competed at a higher level and has moved down, they have a better chance of being a winner, so watch for these when choosing bets.
Each race track will be built differently and there can be different surfaces. Not all horses perform the same on surfaces. Some tracks will use natural dirt and grass while others have artificial surfaces. Some horses excel on dirt tracks but do not like the feeling of artificial ground. Be sure to read the program completely to learn how the horse has performed on track surfaces before betting. This applies to all classes of races.