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The Basics of Horse Betting. Successful horserace betting requires discipline, data and technique. Just like making wagers in a sports book on, say, the outcome of a pro football game, betting on a horse races is a two-step process. First, the wagerer needs to do â handicapping" and then secondly, formulate the bet and register it at the betting window. It is possible, of course, to place a bet on a horse without caring about handicapping or thinking about the underlying probabilities. Types of Horse Bets.
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