Colorado legal sportsbooks are officially live! While it isn’t exactly the ideal time to be launching a legal sports betting product, Colorado sports bettors can still find ways to get in on the action and turn a nice profit in the process. With the lack of live sporting options available during the Coronavirus pandemic, horse racing is still up and running and giving bettors an opportunity to have some fun and possibly pocket big bucks in the process.
Small Bets Can Mean Huge Profits
For those who have never placed a bet on any horse racing events, there is plenty of potential for you to hit big. Take this bettor for example, who turned a simple $0.50 bet into more than $500K! The bettor took home that nice jackpot by correctly picking the winner of the first five races at Gulfstream Park a couple of weeks ago.
A simple single wager on a horse alone can turn bettors a nice profit. Some longshot horses can see odds of something as high as 80-1 in some races. That means if you bet just $2 on that particular horse, and it wins, then you can cash that ticket in for $160. In traditional sports betting, you can usually only find odds like that on a certain prop or futures bet.
For those who are looking to make some serious cash like our lucky bettor in the story above, making a bet on an exacta, trifecta or superfecta is the best way to win big payouts. These bets work similarly to parlay betting in traditional sports by magnifying a bettor’s payout. However, in horse racing, these bets can provide even bigger payouts than a traditional parlay.
How Exacta, Trifecta and Superfecta Betting Works
An exacta, which is also known as a perfecta at some tracks, simply means selecting the first and second place horses of a particular race in perfect order. This means not only do you have to get the winning horse correct but also the second-place horse.
A trifecta is exactly what you would expect based on that name. In a trifecta your goal is to correctly guess the top three horses in a particular race, in order. As expected, a trifecta is more difficult and therefore has a higher payout than an exacta bet.
The goal of a superfecta is to pick four horses in the correct finishing order. A very small wager can be made on the superfecta and a bettor can profit very handsomely if they are correct. The bettor must correctly pick the first, second, third and fourth-place horses in the correct order.
Other Horse Betting Options
A simple wager on a single horse as well as the exacts, trifecta and superfecta are the most common types of horse racing betting. There are also plenty of other betting options that horse bettors can partake in. An in-depth list of betting options and their payouts can be found at Twinspires.com.
What Horse Betting Tracks Are There In Colorado?
Colorado currently has one live horse racetrack facility, Arapahoe Park in Aurora. Arapahoe Park runs on Saturdays, Sundays, and Mondays for 13 consecutive weekends between May and August. Several off-track betting facilities statewide offer wagering on simulcast horse and greyhound racing year-round.
Colorado has 12 off-track betting locations:
- ARAPAHOE PARK
- BANK 8 BILLIARDS d/b/a THE 8 TRACK
- BIG D’S OTB AT EL BANDIDO NIGHTCLUB
- CELTIC ON MARKET
- ELEVATED STAKES
- HAVANA PARK
- OFF TO THE RACES (formerly SCGEC)
- PICK SIX LOUNGE AT THE MIRAGE SPORTS BAR & GRILL
- POST TIME AT THE PLAYING FIELD SPORTS BAR
- SOFTBALL COUNTRY
- SUNDANCE STEAKHOUSE & SALOON
- PICK SIX LOUNGE AT FOX AND HOUND
Aside From Horse Racing, How Else Can I Make A Huge Betting Score?
Sports betting options are severely limited at this time. As of the end of April, the only things you can really find to bet on at a legal sportsbook here in the United States is table tennis and Belarusian Soccer League. While you can find some major underdogs in both of those sports, you won’t be able to find longshot odds like you will on the racetrack. Also, those exactas, trifectas and superfectas provide more big payday odds than a traditional standard wager.
If you want to try and hit those big odds payouts in table tennis or soccer, you are going to have to put together some large parlays. Depending on the odds on the picks you are making, you may be looking at five or even 10-game parlays for those big value payouts.