Betting on Horses?

Question

I have a question about betting on horses. If you bet on a horse to win with 3/1 odds at the time you bet, I understand that these odds can change up until the race as money is coming in. My question is, can you change/refund your ticket if you see the odds wildly change out of your favor/strategy (say all the way to 1/3)? If not, this would seem to make executing betting strategies very difficult. Please let me know how this works, thanks!

Answer 1

the only time you can get your money back is straight after you put the bet on, you just need to ask the betting attendant to cancel the bet as you have made a mistake.

in Australia were I'm from, we have an option called FIXED ODDS betting, so for example........ horse A, might be at 5/1, if you put a fixed odds bet on him and he wins his race you are guaranteed those odds of 5/1 no matter what!

if you like to have a bet...... why not try a betting exchange like betfair, were you post the odds you want and people all over the world can bet against you at the odds you post there's a link below if your interested. also  with betfair you can bet on other sports and more besides horse racing, have a look!! I'm a satisfied member!

http://www.betfair.com/

Answer 2

3-1....for every $2.00 you get back $8.00..

in the u.s. you can change you bet......

tip....lone-star.........military storm will win today....

Answer 3

You can try to get your money back before post time.  Often if a horse runs off during the warm up or if it breaks through the gate or something, people will run back and try to take their money off of that horse.

Answer 4

The tellers don't like to do it, If you tell them you bet the wrong track or wrong race they will usually give you a refund.It's kind of risky if you try it on a crowed day, you might still be in line when the race goes off.The odds generally won't drop to much 2-3 minutes before post.

Answer 5

Most American Track are now fitted with Auto-Betting machines (a sophisticated computer) where you do your one handling of the machine.

Many of the "heavy players" at the track now a day wait about 2 minutes before "post-time" to enter their bet.

The problem is that if every "Tote-Watcher" waits for the latest odds just before post time the auto machines are busy just like the windows manned by "live people".

I have been "left out" after I cancel an early bet to

make a different bet and by the time I got my new

voucher (within seconds) back  with a refund for my cancelled bet) the machine "cut-off" any further bets on the race and I was left with no bets

You can assume that waiting for the last minute - particularly in big-named races- may not always be the best plan.

I have learned that if I like a horse at decent odds

-nothing below 3-1, at the time I place the bet

about 4 to 5 minutes before post-time I won't

worry about "late money" coming in.

Be aware that I only had "Winning" days when I

picked no more than 2 races from a full racing card.

After 6 months of trial I gave up "full cards" plays

When I selected "playable races", races where the "morning odds favorite" had a good chance  of being beaten I was able to make a net profit.

After that ,Never played every race in the card.

My own adivice to Horse Players:

The old saying:

You can beat a race but you cannot beat the races

Still holds true now as it did 50 years ago.

Never go to the races with more money than what you are willing to spend for an outing of entertainment elsewhere.