Horse racing wagering can be an exciting and often lucrative venture. However, there's nothing more intimidating than betting on horses for the first time. Horse racing wagering is a calculated sport for many, and a game of chance for others. Learning a strategy that works for you as an individual is important, as well as determining all the ins and outs of the game to make an educated choice.

Your bet should never just be a blind guess. The process of horse wagering is very intricate and can be quite exhilarating. When betting for the first time, VIPhorses provides you with a wealth of informational resources for completing the wagering process. There are a lot of different ways you can bet, so their helpful glossary of terms and betting strategies is invaluable to a first time bettor.

Here's how it works. After you log onto their website and sign up, you'll receive a 20 percent bonus for simply joining! Then, you just choose your track, select the race or races you'd like to bet on, and select your bet type. This is where it can get a little tricky. You can choose to bet on horses that win, place, or show (first, second, and third places, respectively) or you can choose a combination of finishes (called "exotic" bets).

For the first time gambler, it might be easiest to pick a straightforward place bet. Or, you may want to choose an exotic combination like an Exacta, Trifecta, or Superfecta. For definitions, check out the horse racing wagering glossary section before betting.