How Do You Bet on Horse Racing for Beginners?

Horse racing is one of the most popular forms of sports in the world and yet not all people are lucky enough to win in horse betting. The reason could be the super-elite status of the sport and not all people are well-acquainted enough to understand the complex betting system of Singapore horse racing. 

In this piece, we will provide you with a unique opportunity to learn the basics of horserace betting as well as a few tips to get you started.

How is horse winning calculated?

Horse racing events are among the most prestigious spectacle in the world, so it is no surprise that the prizes that are being offered for winning the horserace bets are highly lucrative. However, reading the tote board could be a daunting task for new bettors, so they must have at least a slight understanding of how it works.

The easiest odds to understand in the tote board is the Win bet. While they didn’t exactly tell how much you will win when the horse wins but they can tell how much you will get and how much risk you can take to get it.

For instance, 7-5 means you need to pay $5 to win a $7 profit. Meanwhile, 20-2 means you will get $20 for every $2 wager you will place. 

How do you become a horse owner?

Becoming a horse owner is a prestigious profession and it has a lot of benefits. However, it is not easy to do the job if you didn’t know a thing or two about the whole process of becoming a horse owner, especially in Singapore. Here is the abridged version of the process to help you get started.

To be a successful horse owner, you need to be better when it come to selecting a trainer and a horse. Both the trainer and the horse must be in harmony with each other in order to be successful in the races. This is the reason why it is important to find a skillful trainer first before you select a horse. 

Once you have selected your trainer, it is time now to find a healthy and powerful horse. Before you buy a horse, you have to consult your trainer first to help you get decided on the breed, age, and budget. 

Next is to select the type of ownership option from the ones that are available to you. You can either choose sole ownership or syndication ownership. Once you have decided on the ownership type, you can now register yourself and your horse in the MRA to provide you with a license to operate.

How much is a horse in Singapore?

Owning a racing horse in Singapore is a serious business. Due to the high profitability of Singapore horse racing events, owning a horse is a long and complex process. 

We mentioned above the process of owning a racing horse. In this section of the blog, we will be detailing the price of owning a horse in Singapore. 

A standard price for a decent horse in Singapore typically ranges from $20,000 to $100,000. A horse with 2yr old or 3yr old trail winner costs from $40,000 to $250,000. A racing horse that is 5 years old usually costs $10,000 to $30,000. 

Always remember that before you purchase a racing horse, you need to be acquainted with the requirements of owning a racing horse.

Horse racing is one of the popular equestrian sports and it is one of the most lucrative industries in sports due to the quality of races and the scope of its participation. Owning a horse in Singapore is a complicated process but promises a huge profit in the long run. Our platform now offers horserace betting, so try your luck now!