Find a greyhound track or sportsbook to place your bet. While there, get a racing form that gives you the names of the dogs and what type of race they'll be running.
Study your racing form. If you are at a sportsbook, your form should give you various races from different tracks around the country. Pick your race and study the dogs. There will be a list of their weight, where the dogs have finished in past races, the distances of the races, their times and the names of the dogs that beat them. The best way to bet is to look at the dogs with the fastest times.
Watch the television screen for the odds, the formula that expresses what chance bettors believe each dog has to win the race. The higher the odds, the less likely it is a dog will win-and the more money you stand to make if it does. For example, a dog with odds of 20-1 will pay $20 on a $1 bet if it wins. If a dog's odds are 7-5, you'd make $7 on a $5 bet. The 7-5 dog would be the favorite-the dog most bettors believe has the best chance to win.
Select a dog, and go to the betting window to place your wager. There are several different wagers you can make. Much like horse racing, you can bet on whether a dog will win, place (come in first or second), or show (come in first, second or third). You can also bet the exacta (the first and second place dogs in that order), the trifecta (the first, second and third dogs in that order) or the superfecta (the top four dogs in the exact order). If you don't feel comfortable picking any of these bets in the exact order, you can always box a bet, which means the dogs can place in any order as long as you've picked the right set.
Place your bet your bet by telling the cashier the name of the track, the race, the type of bet, the amount of the bet and the numbers of the dogs you wish to play. Check your ticket before leaving the window and have the cashier issue a new one if there are errors.
Watch the race. Keep your ticket handy. If your dog or dogs win, you win. Take your ticket to the cashier to be paid. If you lose, tear up the ticket and move on to the next race.