Horse betting can be cheap

Las Vegas figures to be brimming with holiday tourists this weekend. I suspect some will be placing bets in race books, many for the first time.

When I speak to horse racing newcomers, I tell them that 90 percent of horseplayers lose money. But I follow that by saying that the odds of winning money on the ponies are still better than those on most casino games.

Noted gaming authority Anthony Curtis said in a Las Vegas Weekly feature that there are only five casino games worth playing: poker, video poker, blackjack, sports and horse betting. That's because, with intelligent play, those five games offer a theoretical chance of beating the house and the odds in the long run.

I tell newcomers that horse race betting is a form of entertainment that can be as cheap as you make it. For example, $300 might get a couple parking, tickets and food and drink at a Los Angeles Lakers game or dinner and a local show such as Barry Manilow or the Jersey Boys.

For $300 at a racetrack such as Hollywood Park, or here at a local race book, you could pay for a meal and incidentals and still have $200 left as a betting bankroll. Factor in the chances of winning, and you could go home with more money than you started with. Even if one's bankroll is smaller, say $100, there is still a lot of bang for the buck.

Betting on horse racing is an information game. The more knowledge a horseplayer possesses, the better his final decision should be.

My suggestion to newcomers dabbling in our race books this weekend: Focus on basic wagers. We tend to overlook a simple win wager, an exacta or a daily double. The Pick 6 and Super High 5 get the notoriety, but it takes a large bankroll to keep playing in those exotic pools.

This is truly a great weekend to bet the horses. With 14 graded stakes around the country, the overall quality of racing definitely will match the quantity.

• RED ROCK -- Last week I reported that to play in the Red Rock Firecracker Shootout on Saturday and Sunday, people need to join the NHC Tour at an additional cost of $125. That requirement has been waived. Anyone can play in the two-day Shootout for the entry fee of $500. The top three finishers will win a berth to the 2010 DRF/NTRA National Handicapping Championship at Red Rock.

Richard Eng's horse racing column is published Friday in the Las Vegas Review-Journal. He can be reached at rich_eng@hotmail.com.