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Everyone quickly understands the basics of sports gambling, because its as simple as the sports themselves. Horse racing, on the other hand, is a more difficult form of gambling to approach successfully. While there are some similarities between sports gambling and horse handicapping, success in one by no means assures even competency in the other. CBS Sports icon Jimmy ‘The Greek’ Snyder was by all accounts a first rate sports handicapper, but downright awful at forecasting horse races.

Were not going to suggest that the information here even scratches the surface of what you need to know to become a serious horse handicapper. There are countless books, DVDs and other media that you should check out if this is your goal. If you’re interested in simply knowing the basics so that you can enjoy a day at the track, here are some basic concepts of horse handicapping:

Reading in Fundamental: The first thing you should do when you arrive at the horse track is to purchase a track program and a copy of the Daily Racing Form. The Daily Racing Form (or DRF for short) is the Wall Street Journal of the horse handicapping set. The track program will offer much of the same information about the specific track, but is frequently in a more user friendly format than the often arcane DRF. The basic stats you’ll find in these publications are the names of the horses, jockeys and trainers, the morning line odds, and the types of bets available for each race. You’ll also have past performance charts, which are the bread and butter of serious horse handicappers. These charts reveal a lot about a horse and what they’ve done on the racetrack, including its record, where it ran, the quality of competition it ran against, and what position the horse was in at various points in the race. Most tracks have customer service types that are helpful in clearing up anything you don’t understand. While asking the personnel in a sports book who they like isn’t a wise idea, its OK at the track for a reason well now discuss”you’re not playing against them.

You’re playing against other bettors, not the racetrack: A big difference between sports wagering and horse betting is the function of ‘the house’. In horse racing, you’re not playing against the track–instead, you’re betting against the other patrons. The track simply serves as a ‘banker’, accepting money and paying bets. For this service, they take a percentage of the money bet on each race (called the ‘takeout’). The odds on a horse aren’t set by the track, but rather by the amount of money bet on each entry.

The odds in the newspaper are known as the ‘morning odds’ and are essentially educated opinions. They’re not much different than ‘overnight lines’ in sports betting. They can serve a function for handicapping, but often will not reflect what will transpire when the actual betting begins.

Handicapping basics: There are so many different approaches to handicapping horse races that its difficult to even know where to start. Some handicappers emphasize past performance data. Others factor in the results of recent workouts, while others prefer a visual examination of the horses in the paddock.

Once a handicapper gets an idea what will happen in the race, he has to factor the available odds into the proposition. A favorite may be an unattractive wagering prospect due to a prohibitively high price, while a long shot may be a good wagering value based on a high potential payback. It all boils down to wagering value, which is simply a matter of doing a math. Teaching the youth of America solid math skills is crucial for no other reason than to help them gamble effectively and profitably.

Horses and Trainers: Some handicappers place a great deal of importance on the horses breeding lineage”the quality of his parents and grandparents “as an indication to his performance potential. This may be particularly important early in a horses career, but after a half dozen or so races what hes done on the track becomes more important than his pedigree. Trainers, like Bob Baffertt, can also be an important consideration much in the same way that coaching can play an important role in sports wagering.

The horse’s jockey: Jockeys are free agents, meaning that they get paid on their performance. In theory, this means that they’ll do their utmost to win in every given race. While there are a few exceptions, many serious horse handicappers downplay the importance of the jockey. Assuming the horse’s ‘mount’ is competent, there are much more salient factors to consider when handicapping a race than the jockey.

Don’t Go Overboard, and Try to Find What Works For You: As with any new betting discipline, its always sound advice to not go overboard with the amount of money you wager. These are just the basics of how to bet a horse race and what some of the salient factors are in determining who will win or lose a race, and doesn’t even to begin to scratch the surface of successfully handicapping the sport. If you want to learn more, Id suggest starting with the Daily Racing Form website, after which a simple Google search can expand your options from there.

Ross Everett is a respected freelance writer who covers travel, poker and sports handicapping. He is a staff handicapper for Anatta Sports where he is responsible for providing daily free sports picks. In his spare time he enjoys fine dining, flower arranging and deep sea diving. He lives in Southern Nevada with four dogs and a pet coyote.

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