Man has been known to use horses for racing since this specie was first domesticated. Historical evidences reveal that as early as 4500 BC, the nomadic people of Central Asia has already developed systems of horse racing. In fact, the Greeks are known to have incorporated horse racing in the Olympics since 638 BC.
Both the chariot horse racing and the mounted horse racing were popular during these ages. These later became an obsession among Romans when they have adopted the sport.
For thousand of years that followed, this type of sports was known to be performed only for the noble men and royalties.
Modern racing is said to have started in the 12th century when the first breeding between Arabian and English horses were made. These were sparred by the return of the noble knights to the mother land after the Crusades. These are known to have produced sturdy horses with excellent speed. Thus, breeders maximized the potentiality of a racehorse and put them into tracks. This breed is the Thoroughbred that we know of today which is still the most popular breed in the United Kingdom.
King Charles II was known to have held horse races in his private courses during 1660 to 1685.
By the 16th century, the English had been known to produce a number of racecourses. Queen Anne who founded the Ascot in 1711 is known to have made horse racing an official sport.
Halfway in 1700’s, the Jockey Club was created through the initiation of the elite figures involved in horse racing. This organization was the first legion of jockeys that established the comprehensive rules and regulations including the standards as covered by the sports. Thus, they became the overseers of the sports and sanctioned horse racing events.
The Jockey Club was also the initiator for the regulation of breeding among horses. Thus, James Weatherby, an accountant of the Jockey Club during those times, traced back the family lines of all racing breeds in England. His researches brought forth the publication of the General Stud Book, which was basically, the basis of authority in terms of the breeds that could be put to race. According to the General Stud Book, only those pedigrees that have descended from the line of the “foundations sires” are considered as Thoroughbreds. The foundation sires are the: Byerley Turk, Darley Arabian and Godolphin Arabian.
Only in 17th century did the sport arrive in America for which the very first racetrack was seen in the Long Island. While it has become a favorite past time among Americans, no one initiated the formalization of horse racing until after the Civil War. Because of the already-established obsession plus the industrial development, and widespread gambling on horse races, the sport grew largely by the year 1890 when 314 operating tracks are known to be on regular operation in the country.
Due to the lack of a governing body, this sport had become purely dominated by criminal elements. In 1894 though, the most prominent and high-ranking stable owners met and organized the American Jockey Club which was patterned on the system as used by the Jockey Club in England.
Nowadays the sport has reached various countries across the globe. Governing bodies were also formed to regulate the horse racing events.
People who gamble their money in competitions like boxing matches or horse racing know that they cannot bet their cash indiscriminately. You see, gambling in events like these do not purely depend on luck. You cannot trust your money to pure luck when you have other factors to consider. One thing that people who bet on the track always do is consult the horse racing betting odds. These figures help them decide where to place their money on. They bet their money depending on the chances shown by the horse racing betting odds.
But what factors affect horse racing betting odds?
1) Reputation – the reputation of the horses and their jockeys obviously affects the horse racing betting odds. When you think about it that is the factor on which they base the horse racing betting odds before it can be affected by other factors.
The reputation of a horse and its rider sets the horse racing betting odds. This is because of the fact that the reputation provides people with the initial impulse to bet or not to bet. The reputation of a horse and its rider is earned through countless races. Thus, a reputable competitor gets good odds of winning a race. The horse race betting odds are affected by the reputation mainly because of the fact that it is, in fact, an amalgamation of the results of the horse’s previous races. Thus, if the horse is a virtual unknown, then it would be hard to set the horse race betting odds.
2) Condition – before the actual race, many “experts” study the condition of the competitors. This will help determine the actual horse race betting odds in the day of the race. By “condition” we refer to the various characteristics of the horse and of the rider before the actual race. This includes the physical condition of the horse, which tells you about its potential performance in the race. It also includes the emotional condition or “fighting spirit” of the horse which will tell you how far a horse will go to achieve its potential.
Today, the condition of the horse is so important that various experts make use of different equipment in order to observe it properly. Some people may see this as an extravagant expense, but people who are in on the business know that a lot more money depends on the condition of the horses.
3) House – it is often the case that the “house” or the track actually places a bet on the horses. Because of this, the horse race betting odds become adjusted. Many people base their bets on the decision made by the track. This is often the case when a gambler wants to win a specific quantity of cash. If, for example, he or she bets on the “underdog” of the race, he or she could win a huge amount of cash.
Of course, most people just go with the house since the house is actually able to observe the competitors better. This way, they have a larger chance of winning although their winnings would be comparably smaller.
What’s important about horse racing betting odds is the fact that those figures are information. Those figures help the undecided commit their cash to something. Without the horse race betting odds, a person would have no way to figure out which horse to bet on.
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