What Is OTB? By Lola Smith OTB is an acronym for "off track betting". There you have it! Alright,so what is off track betting exactly? Off track betting is a means of betting on horse and dog races at tracks that are located throughout the country without you having to actually be at the race track. When I go to play some races via off track betting, it is usually at a bar. There is an area designated for off track betting purposes. Patrons will see television screens that show different race tracks that are found around the country. What is showing on the screens should be race tracks that are currently open and running races. Besides the TV's, there is a clerk who is there to take your bets and your money. Dog races and horse races are the races that people can bet on at off track betting. Wager Once you've decided which track and which race you want to bet on and after you decide what your bet will be, you will proceed to the clerk to place it. You will let the clerk know which race track, which race number and what bet you want to make. They will let you know how much it will cost you. You will pay them and they will hand you a voucher that will reflect your bet. Watch Now it's time for some action! Dogs or horses are walked into their post boxes and at the drop of a hat, they are off!. You will be able to watch the race that you just put money down on in real time. The race could be running thousands of miles away from you but you will have a front row seat watching the dogs or the horses run around the track. Once the animals start around the track, there may be some over enthusiastic racing fans at the table next to you that'll be screaming right along with you for a favorite dog or horse to come in. This is a huge rush! Win When the race is complete, the final results are posted. If your dog or horse did not come in, then you did not win and have a losing voucher and it is worthless. But if your dog or horse did come in, you have a winning winning voucher and it is worth some money. You will take it back to the clerk and they will run it through their machine to find out exactly what you have won. They will then hand you the cash for that win. Depending on the laws and gambling winnings of your state, if it is an amount your state laws require you claim for tax purposes, you may have to fill out a gambling winnings form that the clerk and the company that they work for will forward to the IRS. That's all there is to it OTB! If you happen to walk into a bar and notice that they offer OTB, why not pull up a chair and watch how the seasoned gamblers go through the whole process. Once you have seen how simple it is, you just might want to brush up on what types of bets you can make on dogs and horses, so when the next big race comes around, you can place a bet on a race that and like I said earlier, could be running thousands of miles away from you! The most difficult part about off track betting is actually knowing how to bet on horses and dogs. Teaching people how to bet on horses and dogs is going to be left for another day though.