Horse racing is the only sport on which punters can bet legally in India. Ever since 1996, when the Supreme Court of India ruled that horse race betting is a `game of skill´, and not a `game of chance´, and hence exempt from the betting laws of the land, the popularity of horse race betting has surged considerably. Let’s find out how horse race betting works in India?
How horse race betting works in India?
Horse races in India are held all throughout the year, at one of the several race tracks and turf clubs scattered across the country, including Bangalore, Mumbai, Pune, Hyderabad, Chennai, and Kolkata.
There are two main ways in which you can bet on horse races in India. The first way is a totalizator or tote betting. Such bets can be placed using tote machines that are installed around the racecourse. Also known as `pool betting´, totalizator bets do not offer a fixed return to the bettors at the time of placing the bets. On the contrary, the odds keep fluctuating with time, and the pay-outs are only decided when the race ends. The total amount wagered by the means of tote bets is calculated, and from that amount, the race club deducts its own commission as well as the government taxes and distributes the rest of the amount as winnings to the eligible players.
Another type of betting is known as `fixed odds´ betting, which is essentially like a normal bet that you would place with a bookmaker, who will give you the odds at the time of you placing the bet, so that you know exactly how much you will be paid, in case you are lucky enough to win.
Types of bets you can place in India
How horse race betting works in India? Indian race clubs allow you to place bets on multiple markets, including win, show, place, quinella, trifecta, and superfecta.