Everyone quickly understands the basics of sports gambling, because its as simple as the sports themselves. Horse racing, on the other hand, is a more difficult form of gambling to approach successfully. While there are some similarities between sports gambling and horse handicapping, success in one by no means assures even competency in the other. CBS Sports icon Jimmy ‘The Greek’ Snyder was by all accounts a first rate sports handicapper, but downright awful at forecasting horse races.

Were not going to suggest that the information here even scratches the surface of what you need to know to become a serious horse handicapper. There are countless books, DVDs and other media that you should check out if this is your goal. If youre interested in simply knowing the basics so that you can enjoy a day at the track, here are some basic concepts of horse handicapping:

Do your reading: When you arrive at the horse track you should purchase a copy of the Daily Racing Form (DRF for short) and the track program. The DRF is basically the ‘bible’ of horse race handicapping, and offers morning line odds, horse, trainer, jockey statistics and information on each race at every major track across the country. The track program offers similar information for that individual venue, often in more ‘user friendly’ form.

You’re playing against other bettors, not the racetrack: A big difference between sports wagering and horse betting is the function of ‘the house’. In horse racing, you’re not playing against the track–instead, you’re betting against the other patrons. The track simply serves as a ‘banker’, accepting money and paying bets. For this service, they take a percentage of the money bet on each race (called the ‘takeout’). The odds on a horse aren’t set by the track, but rather by the amount of money bet on each entry.

The odds in the newspaper are known as the ‘morning odds’ and are essentially educated opinions. They’re not much different than ‘overnight lines’ in sports betting. They can serve a function for handicapping, but often will not reflect what will transpire when the actual betting begins.

Handicapping basics: There are so many different approaches to handicapping horse races that its difficult to even know where to start. Some handicappers emphasize past performance data. Others factor in the results of recent workouts, while others prefer a visual examination of the horses in the paddock.

Once the handicapper starts to work out what he thinks will transpire in a race, he has to weigh that against the prices available on each horse. A likely winner might not be a good bet if his price is too high. Conversely, a long shot could be an overlay if his odds–and potential payback–is high enough. It’s all a matter of doing the math–its importance in gambling alone justifies a greater emphasis on the subject in American high schools.

Training and bloodlines: Handicappers often focus on a horse’s breeding lineage, considering the quality of the bloodlines and the racing pedigree of his parents and grandparents. Others put great focus on a horse’s trainers. An ‘A-list’ trainer can often get the most out of a horse much in the same way an elite level NFL coach can cause a team to ‘over perform’.

Jockeys: Jockeys are independent agents, and thus to make the most money they need to win the most races. The more a jockey wins, the better ‘rides’ he gets and the more money he makes. Surprisingly, many serious horse players put minimal importance on the jockey. It’s essentially a case where even the best jockey can’t win with a bad horse. In other words, if a jockey is seen as ‘competent’ there are many other more significant factors for the handicapper to consider.

Find your own style, and maintain discipline: Basically, there’s not a ‘right’ or ‘wrong’ way to handicap a horse race. Figure out what works for you, and develop and refine your own methodology. As in any form of gambling, don’t bet more than you can afford to lose and in particular when you’re starting out there’s no reason to be making big wagers. If you want to learn more, there’s a number of good internet resources including the Daily Racing Form website.

Southern Californias Del Mar Racetrack has been somewhat forgotten by the general public in recent years, overshadowed by East Coast venues like Churchill Downs and Belmont Park. The reality is that the 72 year old track has a history to rival their better known counterparts. Operated by the Del Mar Thoroughbred Club and located 20 miles North of San Diego, its perhaps most famous for its iconic slogan Where The Surf Meets the Turf but that only scratches the surface of its star studded history.

The Del Mar Race Track was founded in the late 1930’s by a group of business and show biz elite, including Bing Crosby, Oliver Hardy and Jimmy Durante. During much of the pre WW II era, horse racing ran a close second to baseball in mainstream popularity, so these racing enthusiasts were clearly at the right place at the right time in terms of market forces.

The starpower drawn to the course was unprecedented. Bing Crosby himself greeted patrons at the gate on opening day, and during the late 1930s and early 1940s it became a place to be seen for Hollywood A-listers and those who aspired for celebrity. In addition to known gambling enthusiasts like W.C. Fields, Edgar Bergen and Red Skelton, the Del Mar patrons during that time also included some of the top female stars of the era including Ava Gardner, Paulette Goddard and Dorothy Lamour

Del Mar was the site of the 1938 match race between Seabiscuit and Ligaroti. Seabiscut won the $25,000 winner take all challenge by a nose, and this race set Del Mar betting and attendance records and remains one of the most famous races in history. The racing at Del Mar continued to flourish until the start of WWII, when the track went ‘dark’ for racing. It was used at times by the military for, among other things, a training ground for Marines and later a production facility for bomber parts.

After the war, Del Mar reopened with a bang. The track reopened the day after Japan formally surrendered to Allied forces, and on that day Del Mar attracted over 20,000 fans through its gates who wagered what at the time was a record $958,476. The postwar prosperity was also a boon to Del Mar, which also benefitted from the Santa Fe Railroads daily Racetrack Special that brought bettors down from Los Angeles to enjoy a day at the track. During the latter part of the decade a new crop of Hollywood glitterati would flock to Del Mar, including Lucille Ball and Desi Arnaz, Mickey Rooney John Holmes, Frank Sinatra and Jimmy Durante. Durante would become such a regular that the turf course at Del Mar would later be renamed in his honor.

The annual race meet at Del Mar remains a highlight of the summer to this day. Del Mar remains one of the top tracks in the country, and have recently upgraded their facility with a state of the art grandstand and was one of the first tracks to install a new synthetic racing surface.