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.
- 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.
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.
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 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.
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.
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.