In order to fully understand how odds are calculated for each racing horse in a certain race or event, you should learn some basic tips about handicapping. There are two definitions of the term “handicap.”

One: handicapping is the practice of assigning advantage through scoring compensations or other advantage given to different contestants (running horses, in this case) to equalize the chances of winning. 

Two: the word “handicap” refers to the various methods by which players can predict and quantify the results of the horse race. This is done mainly to foster wagering on the different events.

In the first definition of horse racing handicap, an impost is the weight that must be carried by a horse in a race. Racing horses carry lead weights during the course of a race as a form of handicap, hence the term handicap races. These lead weights supplement a jockey’s weight to give a horse his assigned impost. The jockeys use saddle pads with pockets or lead pads to hold the assigned lead weights. These weights are assigned, usually by the racing secretary, based on such factors like the animals’ performances, distance of the race track so as to equalize the chances of the competitors.

In the second definition, or more popularly known as Thoroughbred handicapping, the term means the “art” of predicting what horses have the greatest chance of winning a race – and how to profit from these predictions. For the seasoned players, the Daily Racing Form or DRF is a bible worth thumping. The DRF is a newspaper style publication that details statistical information about each horse entered in any race, including detailed past performance results, lifetime records, amount of money earned, odds for the particular horse in each past race, and a myriad of other information available for both casual and serious study.

Depending on the player, the handicapping process can be simple or complex. Nevertheless, they follow the same basic steps. One, the player must study the DRF. Two, the player must observe the horses’ body language and behavior in the paddock or post parade. Here too, is an “art” form worth learning. For seasoned handicap players, they usually watch for signs of distress in the horse like swishing tails or flattened ears or rolling eyes. Naturally, an animal under duress will not perform at its peak, and players know better than to stake a large wager on the horse. Lastly, seasoned players watch the tote boards religiously, studying the gradual or sudden changing of odds of each horse. This gives them a clue about how the betting public views a horse’s chances of winning the upcoming race.