To really understand the importance of horse racing betting rules, it helps to know how vital the horseracing industry is.
The Benefits of Horse Racing
Anyone that is knowledgeable about the horse racing industry, clearly understands how important it is to the economy. In addition to this, many of the races that are held in Australia each year, are part of a significant segment of entertainment, for both residents and visitors alike.
One of the most notable races is the Melbourne Cup, which is so important, that the day it is run on, is classed as a national holiday so that everyone is able to enjoy all the festivities of the race. The environment that this race creates is a significant one. It allows for workers to come together in a social setting and to dress up in their finest, and enjoy all that the race has to offer.
The Concept Of Horse Racing Betting
While many enjoy the race itself for its pure entertainment, there is an extra level of intrigue and excitement that comes with horse racing. This is the betting action that many enjoy participating in. While all those that participate in horse racing betting do so with the anticipation of winning, this may not always be the case. But often there are one or more lucky people to come out as [big winners: https://www.foxsports.com.au/horse-racing/melbourne-cup/melbourne-cup-2018-the-biggest-bets-placed/news-story/bf59e9b991d91ed675b8062097452117 ], especially when they are placing bets on important races like the Melbourne Cup.
The Rules of Horse Race Betting
With horse race betting being a legal pastime, it also means that there are rules that must be attached to it, to keep it as an enjoyable and trustworthy event.
In the past, horse race betting would only take place at designated on land environments. Now, with the Internet, this is all changed, and individuals, not only in Australia but around the world, can place bets on races that they would not have the opportunity to do so otherwise. This has opened up a whole exciting new world for sports betting enthusiasts. There are many different portals where sports betting on horse racing is allowed. What is essential, is that individuals that are going to participate in this, choose a quality site dedicated to sports betting and horse racing, that will give a detailed description of what their horse betting rules are, as it pertains to what they offer on their platforms.
Most sports betting sites that are offering horse racing betting opportunities will have a set of general rules. This is so that there is no discrepancy when it comes to paying out on bets. Some of the general rules include:
- When a race is transferred from one course to another, the same betting rules will apply to the new location.
- If a race is cancelled, then all of the live bets that have been placed on the race itself will also be cancelled, and the monies placed on the bet will be returned to the bettor.
- Postponement of races will usually create a rule that all the bets placed after a final field stage are cancelled, and the money is refunded.
- If the sports betting platform deems that a wager was placed after the result of the race was known, then the bet can be rejected and classed as void, and will be refunded.
Most often the sports betting sites will always maintain the right to the first refusal of any bet of any kind.
Each of the sports betting sites will have their own tote rules, that bettors should be aware of, and make sure that they have a full understanding of these.
Jockey Challenge Rules
For those sports betting sites that allow for betting on the Jockey Challenge, it is usually for a win only. There may be exceptions to this, and additional opportunities, but again, there will be sports betting rules that are being applied by the specific site, that pertain to what they offer.