Over the course of a six-week period, the Triple Crown will be run and horse racing fans, bettors and bookies will be glued to the coverage.
Every year from early May until mid-June, Triple Crown betting goes into high gear as the best three-year-old thoroughbred race horses compete in the Kentucky Derby, Preakness Stakes and Belmont Stakes races.
When does the Triple Crown start?
The Kentucky Derby kicks off the Triple Crown on May 6th with a guaranteed $2 million purse.
Attention shifts over to Preakness Stakes on the 20th Baltimore, Maryland. The third jewel of the Triple Crown takes place on June 10th from New York.
There have been just 12 Triple Crown winners since the first horse – Sir Barton – ran to glory in 1919.
The most recent Triple Crown winner was in 2015, when the Bob Baffert trained American Pharoah won all three races.
There are plenty of Triple Crown betting fans who are looking over the top horses that will compete in this year's races.
Gunnevera, McCracken and Classic Empire are all three horses who have a shot at the title.
Bets for casual and sharps
The exacta bet is a great wager that will entice both casuals and sharps for Triple Crown betting.
By getting the casual who isn't serious about horse race betting to wager on two horses to finish in an exact order, sportsbooks can win on Triple Crown betting.
Casuals will be influenced to wager on horses that will win them the most money.
The chances of a longshot being wagered on that won't finish in the top three – or the correct order – is good.
For sharps, they will choose favorites in their Triple Crown betting. This will have lower odds and the payouts shouldn't be large.
An exacta is a science and picking two horses in the exact order isn't the easiest task no matter how often you wager on horses.
One potential risk can be the bettor who is able to pick the horse or horses with longer odds that earns the punter a sizable payout.
The place bet is another Triple Crown betting wager that can benefit sportsbooks this season.
Bookies will only payout if the horse wagered on comes in first or second, which gives a bit of wiggle room in terms of what can happen.
For example, 20 horses will run for the roses at the Kentucky Derby, therefore picking the one that can come in first or second is a challenge.
It isn't undoable, but it is a challenge none the less.
Casual bettors should be once again influenced by the favorites according to the media.
Meanwhile, some will take a horse with longer odds as they don't see it coming first, but having the potential for a decent payout in second.
Sharps will love the place bet as they can use their horse racing knowledge and pick one of the favorites to finish in the top two.
Most likely the sharps will wager heavy on Triple Crown betting when it comes to place bets. This can be a risk for sportsbooks as they may payout large returns to knowledge Triple Crown betting sharps.
Set max betting limits on place bets to ensure no major loss during the Triple Crown races.
Triple Crown betting always comes with risks, and getting punters to wager to limit the sportsbook's risk is the key.
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