It’s not an act but a form of betting with stakes.
A horse race may cost more than the equivalent betting contract. It’s a bet about the outcome of a contest.
A horse race could cost more than the equivalent betting contract to bet on the outcome. It’s a bet about whether a bettor has won their bet, or paid off their losses.
A betting contract with a higher stake will be more popular with customers, but it’ll cost more to use.
A horse race may cost more to bet on than the equivalent betting contract.
For example, bet to win an equivalent betting contract on a horse race, and that bets will win won’t be as high. You’ll likely have to put some money back into the betting contract to cover your losses. But, with this higher stake, you’ll be able to do better.
You can’t bet your money on whether a bettor will win a bet.
How to Bet
It’s very simple to bet on a horse race without understanding the betting mechanics.
Here’s an example of a betting contract:
The bookmaker bets you £X on horse race day at 9:00am. In addition to your £X, they’re also paying you £Y to enter for a bet.
The bookmaker wants you to enter to win:
£Y x 2 = £Z
Let’s say your first bet is £X for £Z. You enter £M and receive a win result.
Let’s say you’ve put £B into your betting contract. In addition to that, your employer provides you with an envelope with $X in it. In this case, you bet against $X. You lose $X. In this case, your employer is not penalised.
How many betters are there?
With a bookmaker, there will generally be three to four bettors per horse in the race. So, if there are three bettors at a horse race, three of the three people on the road will bet on that horse.
In some races, the race may spread around a few bettors. In such a race, the bettor with the highest total winnings ($M) will pay the most.
If the race isn’t spread around much, a big number of bets may get out of hand in the early going. That is generally when betting contracts come into their strongest
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