The Evolution of Horse Wagering
The very nature of a horse race dictates that there will be a winner each and every time, and a huge part of the thrill of horse racing is in trying to predict which horse will claim that victory. This is why horse wagering plays such an important part in the success of the United States’ second largest spectator sport and some would opine, the reason why the ‘Sport of Kings’ still exists today.
Horse race history buffs say that, over time, four main types of betting held sway in the world of horse wagering. The very first type is simple one-to-one betting between individuals. The second form is sweepstakes betting, in which large race entry fees or stakes is pooled and awarded to the winners. This system is lucrative for race winners, but is disadvantageous for race tracks and officials since they would only be paid a meager fixed fee. Local governments and fans have no way of sharing in the spoils, guaranteeing an eventual death for this kind of betting.
Bookmaking, or having speculators accept bets against their own predictions for participants in a race, is still being practiced underground, today. However, bookmaking on its own still has no provisions for taxes based on total amounts of bets, and has been proven difficult to regulate. So, bookmaking per se is not considered a legal gambling method in the US.
The fourth type of wagering, and in fact the only type accepted as legal in the country, is pari-mutuel betting. This system ensures that local government and race tracks get a share of all the bets placed, making it a lucrative source of income for these parties. Now, TVG makes this system even easier by offering online pari-mutuel horse wagering for races held on its partner tracks via its website, TVG.com.
Experience the thrill of off-track horse race betting, all from the comfort and convenience of your own home. All accepted bets are kept safe by the latest online security applications, and are fully legal and worry-free. With over a hundred tracks and events to choose from and the most accurate and current handicapping information available at the site’s handicapping store, TVG.com makes horse wagering safe, simple and completely enjoyable.
Popularity: 6% [?]
admin @ March 27, 2009