Equestrian sports have a rich history that extends back into antiquity, and high-profile horse races such as the Breeders’ Cup, Belmont Stakes and Kentucky Derby are the most popular modern continuations of this long-standing tradition. Wagering on horse races is a way to bring even more excitement to this compelling and unpredictable sport, and today wagers on horse races can be placed online as well as with local bookmakers.
Bookmakers
Bookmakers are individuals or businesses who typically hope to gain profit through offering wagers on professional sports to the betting public. Bookmakers arrange the odds of their wagers in such a way to facilitate what is known as a “balanced book,” or an equal amount of money wagered on every outcome on which the bookmaker offers odds. This means that the odds they offer may be more connected with betting patterns than the projected outcome of the event.
Bookmaking is illegal in many jurisdictions, including in most of the United States as well as several other countries where the only legal bookmaker is the state itself. Because of this, winners may experience difficulty collecting their earnings and they may even face criminal penalties for placing bets through an unlicensed bookmaker. Independent bookmakers may even close a player’s account for regular success.
Online Wagering
Online wagering through betting sites such as the online sport and horse race betting platform mywinners.com is designed to address many of the issues with traditional bookmaking wagers by providing a convenient, user-focused experience. With online wagering, bettors can receive more preferable odds because of their lower cost in operation, and wagers are placed from the safety and comfort of your own home via the website, through email, and even with SMS text messages.
Another advantage to online wagering is that these sites will frequently encourage betting success by matching an initial deposit with an equal amount of house funds to increase the potential payout of the wager. Online gambling sites are also fully licensed for operation in most countries for all citizens over the age of 18, so collecting on a winning wager is simple, painless and reliable.
Although bookmakers are the most familiar resource for betting on horse races, their inconsistent legal status and overall business model means their value to the bettor is inherently limited. Online wagering has only been an option for gamblers since 1994, but their range of objective advantages over brick and mortar bookmakers means these sites represent the future of gaming.