Horse Betting Tips for Novice Kiwis
There are two forms of horseracing in New Zealand, namely thoroughbred and harness or trotting, and while there are a few key differences between these two disciplines, both types have always been popular amongst Kiwi punters. Horse betting and horseracing go hand in hand, and this is true for New Zealand as well, as both have been practised since horseracing first emerged in the colonial era.
The bloodlines of thoroughbreds in the country also mean big business for local enterprises. Thoroughbreds are exported mostly to Australia and Asia which generates approximately $120 million a year, and during the 2008/2009 racing season 19 horses who originated in NZ won 22 Group One races.
Placing Your First Wager
If you’ve never participated in horse betting before, the process may seem overwhelming at first, however once you get the hang of it, it becomes fairly straightforward. Sports’ betting is highly accessible in New Zealand as there are over 600 TAB outlets across the country, and if you’re a punter who enjoys catching the action first-hand, you can always visit one of the 60 plus horse racing tracks speckled all across the country. If you’re looking for more variety when it comes to wagers on horse betting, there is an array of offshore bookmakers who have opened their doors to punters from New Zealand, and offer a wider variety of wagers which can be placed on virtually every aspect of a race.
Horse Betting Terminology Explained
There are terms related to horse betting which punters will most likely not come across in everyday conversation. Below you will find a quick guide to the most popular forms of wagers that can be placed on horse races, and in no time you’ll be talking the lingo like a pro.
Win or Place: As straightforward as it sounds. Place a wager on which horse will win the race, or on which horse will place in 2nd or 3rd.
Show: This a wager placed on a horse to come in 1st, 2nd, or 3rd place and the bet will be successful as long as the horse places in any of those positions.
Quinella: This is a wager placed on 2-3 horses to come in either 1st or 2nd place in any order.
Exacta: A slightly more difficult version of the Quinella, as a wager is placed on 2-3 horses to come in 1st and 2nd place in an exact order, but the pay outs can be very rewarding depending on the horse’s odds.
Daily Double: This wager can be a difficult one to win, as the chosen horse must win two consecutive races, but the rewards are very enticing.
Offshore Bookmakers for NZ Punters
Many novice Kiwi punters may not be aware of the rules and regulations regarding sports betting in New Zealand. The industry is strictly controlled by the New Zealand Racing Board, and while there are over 600 TAB outlets which many punters make use of, there is only one authorized online bookmaker for the country. While some may find the range of wagers for horse betting to be sufficient, some punters are after a bit more of an exotic variety, and as such are signing up to offshore bookmakers. Many offshore bookmakers have opened their doors to Kiwi punters and there are no fines or penalties imposed on punters who make use of their services.