Table of Contents
3. Types of Race Tracks in Racebook
4. Racebook Bet Types Explained
5. Difference Between Racebook and Sportsbook
6. Steps for Starting an Online Racebook Business
7. Must Have Features For Online Racebook Business
8. Top 5 Best Racebook Software Providers in 2023
Introduction
Horse racing is one of the most popular industries for years and is growing immensely with every passing year Horse racing has a huge fan following across the world, be it watching horse races live or placing wagers on them, horse racing has gained huge popularity in recent years. And it can be said undoubtedly that investing in racebook can help businesses generate huge revenue streams. In the world of modern technology, starting an online business is no big deal but to make it a successful one is. Businesses can start their own online racebook with the help of simple steps.
In this article, you will get to know about how to start a racebook website and what all things you should keep in mind before starting one.
What is a Racebook?
A racebook in layman’s language is a place where users can manage their horse racing betting odds, jockeys and much more from a single place. And not just the odds management, bookies can participate in betting and much more on a racebook. It can either come along with an online casino, sportsbook or one can have a racebook separately to attract horse racing enthusiasts.
Types of Race Tracks in Racebook
A racebook in layman’s language is a place where users can manage their horse racing betting odds, jockeys and much more from a single place. And not just the odds management, bookies can participate in betting and much more on a racebook. It can either come along with an online casino, sportsbook or one can have a racebook separately to attract horse racing enthusiasts.
Racebook Bet Types Explained
In this section, we will be discussing different types of racebook bets:
- Straight Bets
Win- As the name suggests, if the horse on which you place your wager wins, you win.
Place- This bet provides users with two options for winning the bets. Either the horse can first or second.
Show- This bet provides users with three chances to win or to get a return on their investment. The horse can finish the race at first, second or third position.
Across the board- It consists of three bets; across the board, place and to show. If the horse wins, the user collects all the three bets, if it comes second, the user collects place and show bets, if third, then the user collects on the show bet. - Exacta Bets
Also called Forecast bet and sometimes referred to as perfecta. With this bet, users must pick the first two finishing horses in the correct order of their finish.
Exacta Box
Users can box two or more horses if they are not sure about which box will win and which one will finish second. But with each box the wagers go substantially up
Exacta Wheels
In this, the first position of the horse is fixed while users can have several chances for the second position. - Quinella
- Quinella- This bet is similar to the exacta box. In this type of bet, users must pick the horses that finish first and second. It is sometimes called Quiniela and in the UK, it is known as Reverse Forecast.
- Quinella Box- In this type of bet, users are allowed to pick three or more horses.
Quinella Double- It is a combination of two bets that include winning Quinellas in the last two races. - Quinella Wheel- Users can wheel their favourite horse so as to combine it with all other horses.
- Trifecta
- Trifecta- Users must pick the first three finishing horses in the correct order of their finish. It is also called the “Triple” at some tracks. Also known as Tricast or Treble Forecast (UK).
- Trifecta Box- Trifecta box bet is used when the user knows the first three winning horses but not in the right order, therefore he can pick a trifecta box.
- Trifecta Key- In this type of bet, users must choose one horse that is finishing first with any two combinations of two or more horses finishing second or third.
- Trifecta Full Wheel- With this users need to select one or two horses to finish in a given position and combine selection with all the possible combinations.
- Superfecta
- Superfecta- In this, users need to select the first four winning horses in the right order of their finishing the race.
- Superfecta Box- Users can box four or more horses on a single ticket with a minimum wage of $1.00 on each combination.
- Superfecta Key- This wager requires the key horse to finish first with any combinations of three or more horses finishing at other positions.
- Superfecta Full Wheel- Users can select one or more horses to finish in any given position and can combine them with all the possible entries in the other positions.
- Superfecta Part Wheel- This bet is offered at a $1.00 minimum bet per combination.
Other bet types include a daily double, daily double part wheel, daily double wheel, pick 3 and pick 4.
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Difference Between Racebook and Sportsbook
A sportsbook is what a punter uses to place bets on multiple sports including football, basketball, volleyball and different other sports on which bets are placed. A racebook is essentially a sportsbook but only for horse racing. Therefore, gamblers can place and manage their odds on a racebook. There are several online casinos that serve both sportsbook and racebook to their users so that they can place multiple wagers from a single platform.
Steps for Starting an Online Racebook Business
Well, till now you must have understood basic facts about racebook and here’s how to start an online racebook business with the most basic steps you need to follow:
- – Research
Before you start your own online racebook software, you need to research different aspects ranging from horses to jockeys to tracks and much more. There are certain things you need to know to start an online racebook. Online racebooks business requires a set of prerequisites that are must to be aware and taken care of. You must know different horse racing events that take place in the region you want to offer a racebook. You should know the top horse races in the world to entice a lot of audience and many other things including bet types and much more. - -Countries/Geographies For Racebook
Once you have a clear understanding of the racebook and its different aspects, you need to select the countries or geographical areas where you want to focus your research and offer your racebook to the gamblers to place bets. Horse racing is present in many countries. In the USA, horse betting is possible in all the 50 states while horse racing began in the UK in the early 1600s during the reign of King James. Still horse gambling is prohibited in the UK at some race tracks. So before selecting the country, you should check whether the place you decided for horse gambling is legal or not. - Selecting the Best Racebook Provider for your Online Racebook Business
Selecting the racebook provider for your online racebook business can really put into doubts and confusion. Having a clear state of mind while choosing the best racebook software provider can help you save both time and money. Racebook software provider like GammaStack has a team of engineers specially equipped for your racebook services. Our solution engineers develop and build racebook that come preloaded with a plethora of features and can be customized as per your business requirements.
Must Have Features For Online Racebook Business
Here are some must have features that can help your business climb high ladders of success:
- Wagers Tracking System
- Live Wagering
- Different Horse Racing Tracks
- Payment Gateways
- Risk Management
- Information Management Toolst
- Manual Event Creation
Integrating these features into your racebook provides your customers an easy and secure live wagering on your racebook platform. Integrating multiple integrations such as payments and social media can also help you boost your audience.
Top 5 Best Racebook Software Providers in 2023
Mentioned below is the list of top 5 racebook software providers 2023:
- GammaStack
- Typhoon Gaming Pty Limited
- AIS Technolabs
- Easy Pay Per Head
- Apex Horse Betting
Read the entire article here:
Top 5 Best Racebook Software Providers in 2021
Marketing and Launch
Since your racebook software provider is already handling the most crucial part of your racebook, all you need to focus on is marketing and launching your racebook. For this, you can either hire a social media manager or you can do it by yourself with proper planning. Knowing the right audience and right platform plays an important role in your marketing and launch, therefore make sure that you target the right audience for your racebook platform and promote it rigorously in the starting.
Conclusion
Building an online racebook platform from start can be a hectic and tedious job. Finding the right business partner or software provider for your racebook platform can help you achieve your dream racebook software. Be it the features or integration or interface, a good racebook software development company like GammaStack will take care of even the minute details. At last, we deliver not only a racebook website but ensures complete client satisfaction which always remains our top priority.
Sources
https://mybookie.ag/sportsbook/
https://www.legalsportsbetting.com/states-with-horse-betting/
https://caanberry.medium.com/7-things-you-should-know-about-horse-racing-before-you-start-1ea393bfbf85
https://www.sportsbook.ag/kb/racebook-bet-types-explained
https://www.realbookies.com/racebook/
https://help.sportsinteraction.com/hc/en-us/articles/360035274033-Racebook-Glossaryhttps://www.ezhorsebetting.com/online-racebooks/
https://www.feelguide.com/2018/12/14/a-look-at-the-global-popularity-of-horseracing/
https://www.casino.org/blog/the-10-biggest-horse-races-in-the-world/
https://www.americasbestracing.net/the-sport/2019-top-five-horse-racing-events-us
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