When someone says “sports betting” your mind probably runs to horse betting instantly, but why is this so rooted in the gambling world, and how is it still holding up to this day? Even though we have big technology and NFT horse races, people seem to like the simplicity of horse betting. Betting on horse racing or horse betting commonly occurs at many horse races. It started in the UK in the early 1600s during the reign of King James I. Gamblers can stake money on the final placement of the horses taking part in a race.
Reason #1: Ease of betting and implementation
Ease of betting means it is extremely easy for anyone to understand what the objective is and how the winner will be chosen. In other words, horse betting is something that is easy to get into for anyone. It’s not complicated and does not require a lot of thinking like Blackjack or Poker. This is probably the main reason it remains the king of the betting industry.
However, do understand that there are a lot of tactics and tips out there that you should definitely use. Don’t think it is super easy and doesn’t require skill to master. A good place to start would be to delve into a course, or this online horse betting guide. It’s a common mistake that people make thinking they’ll just hit win after win. These are the things you’ll read in the media and say “gambling is a waste of money”.
The implementation of horse betting is very easy and fast, setting up a gambling bureau
and having horse betting going on is surprisingly easy compared to other forms of gambling or betting. So this is another reason why horse betting is way more popular since it is just heard around the world that much. Almost every city or bigger town has a gamble place and 99.9% of the time they’ll feature horse race betting.
Reason #2: Odds of winning is higher
Since the track is only able to host a set amount of horses the odds of winning are quite high. Let’s say there are 5 horses you can bet on the track, so the odds are 1 in 5 that you are hitting the winner. With games like Poker or Blackjack the odds are way more spread out and higher. Even slot machines have extremely high odds of winning.
Also, you can manage your money way better than with other games where you are often prompted to use an “all-in approach”. Casinos and other big gambling centres focus on getting the most amount of money out of your pockets. When you are in a bureau or place which only hosts horse betting you’ll hardly ever see this happen. Casino’s have restaurants and drinking bars, other fancy stuff trying to make you hand over all your hard earned cash.
And the actual money you use for gambling gets eaten up by the other activities.
Reason #3: Legacy
That people in society don’t like change is no surprise. Mankind or people really love to stick with old classics that they know work and how they operate. Leaving the comfort zone and branching out to try something new is not something that comes to people naturally. So it’s safe to say that this might be another reason why horse betting is staying at the top – although soccer betting is getting very close, and may soon surpass horse-race betting. But horse-race betting will never die out, that’s for sure.
On a completely different note, this human attitude toward change ties into the fail rates of new businesses. People don’t like making change toward the new, making new and trendy businesses going bankrupt.
So for now, you shouldn’t worry about horse-race betting dying out.