The genre of greyhound racing may not be as large as the poker or online casino genre, but that still doesn't mean it isn't large. Millions of people from around the nation seek to place online bets on greyhounds, and many more wish to but don't really understand the genre very well. This is where Greyhound Betting Online seeks to help. Throughout this resource guide, you will learn about the legality of the sport, about the different types of greyhound bets you can make, and even some helpful tips to help you bet responsibly while limiting your risks of losing.
Greyhound racing, like horse racing, is considered a parimutuel type of gambling. What this means is that, in essence, racetracks and online greyhound racebooks aren't taking losing bets and keeping them. Instead, they take what's similar to a rake, by taking a percentage. The money that's wagered is pooled in order to pay the winners, so this type of gambling is treated differently than others. But does that mean it's legal?
To put a very fine point on it, greyhound betting online is legal in the United States. The finer details can be complex, but the important thing to remember is that it's legal for you to wager with a sportsbooks or racebook. The main reason it's legal is that greyhound racing isn't banished by the federal government. In 2006 when the feds were creating the Unlawful Internet Gambling Enforcement Act (UIGEA), there were exceptions carved out for state-based horse and greyhound racing. Because this is parimutuel gambling, it wasn't under the same scrutiny as commercial gambling. Therefore, the federal government considered it illegal and gave states the final say on whether they wanted to keep it or not.
Some states have ultimately banned greyhound racing, while others still allow it. However, none of the states that ban greyhounds actually have laws against you placing wagers. If you're in a state that doesn't allow greyhound betting, you will simply need to find a site that allows you to sign up. This could be another state-based site, or an offshore site that's outside of United States' jurisdiction. Either way, you can bet legally on greyhounds.
|Site Name||Bonus Offer||USA||Review|
|BetAmerica||100% Max $300||Review|
Before you find a site with which to place your bets, Greyhound Betting Online would like to emphasize caution. Take a few moments to learn about some of the wagers you can place at a racebook.
Straight Bet - this is the simplest type of bet, whereby you're simply betting on which dog wins the race outright, no handicap involved.
Place Bet - rather than betting on which dog wins, a "place" bet is betting on if the dog finishes in first or in second place, so you have a whole other spot that can cover for you.
Show Bet - when betting to show, you're betting on a dog to take first, second or third place. Of course, place and show bets don't pay out as well as winners, but you do have more options.
Across The Board Bet - with this type of bet, you're placing three separate wagers on a dog that will win, one that will place (2nd) and one that will show (3rd). Hitting all three is a big payday; three-times the original bet.
Quinella Bet - this is when you bet on the first two dogs to cross the finish line, in any order.
Trifecta Bet - like a quinella, you're betting on the order of the dogs from 1st to 3rd, having to name them exactly.
Trifecta Box - this is the same as the trifecta except the dogs can come in any order. Naturally it doesn't pay as much as a trifecta straight bet.
Superfecta - perhaps the hardest bet there is, a superfecta bet is when you pick the exact order of four different dogs in the same race, 1-4th place.
Tri-Super Bet - with this bet type, you will select a winning trifecta for one race, and then exchange that ticket for a superfecta in the next race. Winning this bet can be incredibly lucrative.
Daily Double - with a daily double, you will bet in advance of the races and select the dog(s) you think will win for two consecutive races.
Jackpot Bet - this is where you will pick six winners in six races. The odds here become much more like a lotto, so it's very affordable to place this wager. Your odds of winning are slim.
Parlay - maybe one of the most popular bets per vernacular, a parlay is a multiple bet where you will make selections on two races or more, and if you win on the first you will roll your bets over (parlay them) to the next race for a shot at a huge payday.
Pick 3, or 6 - this is when you select the winning dog for each of 3 or 6 races.
This is important to some gamblers due to a lot of misinformation online that paints greyhounds as victims of abuse and over-breeding (puppy mills). While there are documented instances of this, there have been great strides taken within the genre to really clean things up. Today's greyhounds are closely monitored and have pretty comfortable lives. They live in the open, as opposed to in cages, they eat very well, and most of their time is spent playing and running. Like thoroughbred race horses, a greyhound instinctively knows that it's supposed to run. This is the dog's life. Racing the animal is in no way immoral in itself. And thanks to a lot of activist groups calling attention to the genre, greyhounds today are monitored and are treated very well in comparison to how the sport used to be.
So if you're having any moral hang-ups about betting on greyhounds, just know that the sport has really cleaned its act up and that greyhounds are treated very well today.
1: The 10% Rule
To bet responsibly on the greyhounds, you should never risk more than 10% of your stack. If you have $500 in your account, then $50 is plenty of money with which to bet. By limiting your exposure to only 10% of your stack, you're thus enabling yourself the ability to eat a few bad losses without it derailing your betting altogether. Whereas betting more of your stack, or even your entire stack, could result in busting you in a single day.
2: Never Chase
So, let's say that you just bet $50 on a dog and lost. Now you're down, and you think you have good odds going into the next race. To catch back up, you bet $100 this time. This is backward thinking. Sure, the math adds up, but you need to factor in what it costs to lose. Chasing losses can quickly become a downward spiral, and even huge stacks can dwindle under the weight of the chase.
3: Seek to Leverage
Let's say that you have a decent dog in race 1 that you want to bet on, so you place a $20 bet. Not too much, but you can actually leverage this. In the same race, you can work up a quinella bet or something similar and only bet $10 on it, or you can find a larger underdog that you still think has a chance and bet a $5 spot. Winning on either bet of a smaller amount pays more because these bets are longer odds. Sure, you'll end up risking $30 or more, but you have much more of the race covered, and any spot you win will pay you off double or more, so win anywhere and you're not losing money. Leveraging can turn a novice into a pro in a hurry.
4: No Name Association
Your daughter's name is Amy, the dog's name is Chasing Amy, therefore you think the universe is telling you that "Amy" is the winning ticket! You'd be surprised at how many people fall into this trap. We're in no way trying to be rude, but mysticism doesn't exist. There are no universal whispers coming through on a dog track. There's only dogs in a good position to win, and the rest of the field. Don't fall into this association with names, numbers, or any other superstition. It's a quick way to lose.
5: Always Research
There is no guaranteed way to always pick winners, but research is undoubtedly your best bet. Research the dogs in the field, see how they run on dirt vs. turf, times of day, weather conditions, etc. See how well the dogs practice. All this info will be available via a reputable racebook. If you're willing to put in the time to research, you can make better picks and ultimately win. We can help tell you in which direction to look, but we cannot do the legwork for you in this regard.
Greyhound Betting Online wants to help guide you through the process as a beginner. We hope we have touched on all the aspects you will need to get started. If we can add anything else, it would be this: Let us point you in the direction of a reputable racebook. You don't have to waste your time researching in this regard; you can simply follow our lead.