Horse Racing Betting Strategy
Every business – and betting is no different – requires a strategy if you plan on being successful at it.
When it comes to horse racing betting, an understanding of the very sport is the basic requirement. This beautiful sport offers great thrills for those who watch it from the race track stands, and on a TV, while excitement goes through the roof when you place a bet or two to spice it all up.
Horse Racing is a sport which boasts one of the biggest sports markets for bettors in the world and it is a betting discipline which you can be bet on in a variety of ways. And just like in any other sport, betting on horse racing is much more than just finding a horse you want to back up with a bet. If you want to get yourself the best possible chance to win some money off horse racing betting a plan, system and a strategy are required.
For a full understanding of betting on horse racing an understanding of yourselves as horse racing tipster is needed. If you are a casual bettor who does it for the thrill, then you won’t mind grinding out a profit through playing straight bets. However, if you are one of those who likes to hit it big – then you need to know how to do it.
Horse Racing Tips
- Find the best value bets
- Stick to your bankroll
- Be selective of your bets
- Know your odds
- Keep records of bets (races)
Five aforementioned points of a successful horse racing betting strategy are mutually connected and intertwined, which means that the whole deal will not work correctly if you do not follow through all the steps.
Finding the best prices available is easily done through managing multiple online betting sites with bookies like Bet365, William Hill, Paddy Power or any other top-class bookmaker. With a wide range of races and markets out there, comparisons can be golden as it will allow you to find those small differences that make it a great deal in the end. For instance, the same horse can be offered 5/1, 6/1 or 10/1 to win and it is up to you to go through the lists to find the best value and not stick to just the first offer you run into.
Finding the best odds will allow you to take better care of your bankroll as it will allow you to have better management of your money. First and foremost, we assume you will have established a bankroll for horse racing betting and a limit you are unwilling to go beyond. Most bettors tend to disregard the importance of having a bankroll, but in horse racing betting this aspect of the entire procedure is of paramount importance. The last thing you want to do is to reload your account every time you lose a bet, which will end in you losing track of the money you have spent and lost. And that is not the way you want to go. We understand this can be difficult sometimes, especially around key events like Cheltenham Festival or the Grand National, as searching for the best odds can be a pain when in reality you just want to be able to place bets on multiple races in an event and watch the action unfold. However, if you are very keen on wanting the best winnings, even if it is just ever so slightly, then locating the best odds is the way to go about it.
Select the money you want to spend and select the bet you want to take. Betting on the first race that comes your way is not a strategic way to go through horse racing betting as it will hardly yield any results. Do your research, bet on horses you know about, on races and venues you know about. Decide if you are going to bet on flat sprint races or longer chases, analyse your horse’s performance, compare it to competition and make your call. In short, make a knowledgeable selection.
When the foundations are set, understand the odds you are betting with and differentiate fixed odds betting from pari-mutuel betting to make sure your previous plans will not fall dead in the water as soon as you begin. Fixed odds bets are those with payouts that are agreed at the time a bet is made and will not change throughout the race, whereas the pari-mutuel betting is the contrast to fixed odds system. It is controlled by a ‘tote’ system which accounts for all the money in the betting pool and determines the payout odds by removing the house cut. The main difference to fixed odds betting is that you have no idea of the payouts until the betting pool is closed.
When your race is over – whether you win the bet or have lost it – make sure to keep track of it. It is a vital way to keep track of your wins and gains, but it also provides deeper insight into horses and races that can offer a statistical view further on as it will help you improve your choices.
- Ante-post management
- Each Way Betting management
- Back multiple runners
- Horse laying
When you have made sure to have it all prepared in terms of strategies and plans you need to keep your head above water during horse racing betting, it is time to dig into some more detailed betting strategies which are related to races themselves.
Dutching Betting / Backing Multiple Runners
This is a strategy that you do not hear of often. It is difficult to perform to some extent and you need to take a look at different options and outcomes. You also then need to compare that against a range of online bookmakers and then place a number of bets that are going to ensure that you have a very slim change of losing at the end of it all. Yes, you may be thinking, if you are placing a range of different bets, is it worth it because you are betting a lot of different outcomes where some are guaranteed to lose. However, the profit you make at the end of it, will be higher than what you have wagered in total. This is a very long process and takes a lot of working out, which is why a lot of players will just avoid it.
Backing multiple runners is one of the best strategies to maximise profits on horse racing betting and minimising losses. It’s all about backing between two and four runners, by hitting hard at a favourite horse and a couple of back-up bets on other selections. It involves different stakes at different selections as this system allows you to cover losses and still net some decent profit. This long process can eventually see you getting profits over time.
Ante-Post betting is extremely popular in horse racing as bookies rush to offer the best possible odds upfront, before the races actually start, so selecting the best value out of these can yield some pretty great results.
Each Way Betting
Each way betting is another way to make sure you have a bigger chance of winning at horse racing betting. It requires two separate bets with tote bookmakers with half of your stake places to win, and the other half of the stake on the place bet.
Horse Lay Betting
Ultimately, another good option to go by with horse racing betting is to lay your horse in a statistical manner as you get to bet against a runner, there are a selection of horse racing betting sites which allow you to the lay your bets such as Betfair. It works best in races with ten and more runners where you will identify several favourites, check their odds and lay against the one with lowest odds. Doing this will bring your winning potential to 80% which is a good strategy to win, we will agree. Laying against the favourite is more of a risky strategy, however it will be more profitable. Therefore, if you have done the correct research, it may just work for you.
Backing the Favourite
Backing the favourite is a strategy that a lot of inexperienced horse racing bettors follow. A lot of punters that just bet on horse racing without any real strategy, will straight away go for the favourite of the race, as in a lot of cases, the favourite does win. Although that in itself is still a risk as it is not always the case, there is also something else to consider which will make you want to do a bit more research into the horses racing. Some bookmakers can sometimes take it upon themselves to give a false favourite for a race. They will purposely label a horse as the favourite for a race when in fact they do not have the best predicted chance of winning. The reason they do this is to trick customers into backing the false favourite, hoping that the actual favourite wins and therefore the bookmaker can happily keep your betting stakes if the actual favourite does win. This is why it is worth looking deeper into races, bet tips, analysing form guides, statistics, and other horse racing strategies. Other betting systems may say that you will be better of betting on both the false favourite and also the actual favourite that other bookmakers are offering, or even the second favourite on the same bookmaker.