If you’re thinking about making betting and handicapping horse races, you will come to realise that it’s a challenging endeavour that you will need to adapt to and learn constantly. Gambling and betting on horse racing aren’t easy, especially if you want to be successful and make a lot of money, which is the end goal.
Ask any seasoned punter about how to bet in horse racing, and they will say that it is all about trial and error. It would help if you accepted that you would make mistakes along the way, but there are some valuable lessons you will learn along the way. You can learn a lot about betting in horse racing from different sources online, but Neds racing tips can teach you how to make smarter bets. Let’s begin:
1. Be Prepared
It may seem simple, but you have to put in the work if you want to have the best chance of success in horse betting. That means learning as much as you can about the handicapping card in advance, which will mean you know which races will provide you with the best chances of success.
You don’t want to blow 90% of your budget throughout the day and get to the last or second-last race of the day before you find out which horse is the most likely to win. Do your homework before you get to the racecourse to improve your chances of winning when betting in horse racing.
2. Set Your Budget Intelligently
Most gamblers and punters struggle to wisely budget when they come to the races and invariably end up spending more than they can afford. You must be disciplined when it comes to horse racing and know which races to pass on. There’s no need to bet on every horse race, and that’s why you must be intelligent with how you budget your funds for gambling.
If you have set a budget of $100 for 10 races, you don’t have to bet $10 on every race, especially when you have identified your best bets. If you fancy two or three horses in a race, you can create a strategy and place bets on them to win the race.
3. Bet to Win
Many people spend their early betting days making bets across the board because they try to land on a long shot. You can’t blame them for trying to make as much money as they can from a race, but it’s not always an effective strategy.
If you’re a newcomer to betting in horse racing, your main bet should be the winning bet. Don’t put your eggs into multiple baskets by placing bets on two or three horses, as that means you will lose at least one bet. The takeout from these bets isn’t as big either.
4. Aim High
One of the main reasons people like playing exotic bets in horse racing, specifically the Pick 4s and trifectas, is because that offers them a bigger chance of winning. You must try and be creative with your bets if you want to make the most money from horse race betting.
It doesn’t matter if you can’t place a multi-race or trifecta bet that you know will win since you always have the option to fall back on the straight win bet. However, if you can manage to get some wins, you could potentially get a big score in the end.
5. Identify the Vulnerable Favorites
It may seem like an obvious thing to do, but one thing experienced punters have learned from their years in horse race betting is that handicapping doesn’t mean you must pick the winner. You will get a massive chance of winning if you can identify the heavy favourite that is vulnerable or other favourites that no one is placing bets on.
That gives you an excellent spot to place exotic bets. It’s genius when you think about it, as most of the tickets will have these favourites, but since your resources aren’t tied to them, you will find better value and a better chance of winning by backing others on the ticket.
6. Forget About the Jackpot Wager
You don’t need to think about the jackpot wager because the chances are good you will be wasting your money, while your chances of winning will be slim. We understand the allure of the six-figure jackpot, which can tempt seasoned punters into thinking what’s the harm in entering them. However, they don’t know that the odds are stacked against them regarding jackpot wagers.
Unless there is a winning ticket, a large percentage of the money in the pool will be carried over to the next day. That means, even if you do manage to win, you will be sharing the prize money with other players who can also have winning tickets. It’s not worth it when you factor in everything, and you will be better off playing the standard Pick 4 bets in horse racing.
7. Look for Great Value
You must find horses that seem almost certain to win in the race, but you can win even bigger if you can find longshots that have a great chance of winning. Your top bets must always provide you maximum value and lower risk.
For instance, you find a horse you think has an excellent chance of winning, but the live odds or morning-line odds don’t indicate that. Finding a horse with a 15% to 20% chance of winning the race means you will get a 15-1 or a 20-1 outcome if your bet wins, and that’s excellent value.
Placing bets in horse racing isn’t all about luck or making a large number of bets. It involves a strategy and being smart about your wagers when looking at the odds. You will invariably lose more than you win, which is why it’s important that when you win, you win big. The lessons shared above about horse racing are more than useful and will help you make smarter bets in the future. Good luck.