Tips to Improve Your Horse Racing Bets
Horse racing is one of the most popular sports when it comes to betting, and there is a good reason for that. The uncertainty of every race allows sportsbooks to add high odds on some of the competitors in the race, which gives you the chance for winning a lot of money. At the same time, most horse races last a couple of minutes, so you don’t have to wait for hours or days to get the result.
This is a very exciting sport with tons of close-up action, but can you somehow improve your winning chances?
Just like any other sport, horse racing betting is all about creating a strategy that goes along with your budget. There isn’t a secret recipe that will allow you to win every race, but you can improve how you manage risk and make sure you make a profit in the long run.
In today’s article, we will go through some of the ways you can improve your horse racing bets.
Do Your Research
Obviously, it is very hard to determine the outcome of a race or match in any sport if you don’t know their form, previous results, team, skills, etc.
On average, there are more than $11 billion wagered on horse races every year, and a tiny percentage of those people do their research before placing a bet on a horse.
Racing forms, or otherwise known as guides, should be the holy grail of your betting strategy. They can give you all the information you need about the race and the horses competing out of which you can make a sensible betting decision.
First and foremost, you should get more information about the race itself. Things like time, location, weather conditions, track conditions can have a huge impact on the outcome of the race. For example, some horses prefer a softer and harder surface for running.
Next, you want to check the relation between the horse and the jockey. This will give you a lot of information in terms of the ability of the jockey to use all of the horse’s performance.
Make a Different Kind of Bets
Most people only bet on the horse that they expect could win the race and hope for the best. This is not a good strategy when it comes to horse betting in the long run. There are many different bets available besides the ‘winning’ bet and your job is to analyze them and try to incorporate different bets and use them strategically in order to minimize your risks.
If you want to increase your winning chances, you should learn about betting systems. There are three types of betting systems in horse racing, and by combining different outcomes you can minimize your risks and win more money
- Multiple Horse bets
A great way for incorporating various bets is to bet on multiple horses in the same race. This is a situation where you’ll invest more money, but you’ll significantly increase your winning chances. It is otherwise known as backing a horse in a race.
- Multiple Race bets
Instead of betting on multiple horses, you can also place a bet on multiple races. These types of bets are great just because they don’t cost too much, but you can reach life-changing payouts.
- Place, Show, and Across the Board Bets
Instead of betting on the winner, you can bet on which place the horse will end up. Depending on the bookmaker, you can choose a horse that will win or finish second place. You can also bet on a horse to finish in the top three. This will increase your chances of winning.
Across the board bets allow you to combine win, place, and show stakes in one bet. For example, if the horse wins, you’ll get maximum payout, if it comes second you’ll get two-thirds of the payout and one-third for third place.
Choose Your Odds
Since we live in times where you can place horse racing bets on your mobile, it would be a shame if we don’t use this technology to our advantage. One of the best things about online gambling is that you can choose where to place your bets.
So, instead of choosing the first gambling site, try finding the best one the offers higher odds. The amount of money won’t be significant at the beginning, but it will start to pile in the long run.
Manage Your Bankroll
The golden rule of gambling is to bet only what you can afford to lose. If you want to be successful in horse betting then you need to have self-discipline in terms of your budget and goals.
You should enter with a bankroll and instead of betting on every single horse race, try to make an analysis and go only for the races that you are sure about. You should also avoid chasing losses, and limit the amount of money (usually 5%) of your bankroll that you put on a single race.
There you have it. If you want to apply these tips and start profiting, try TwinSpires horse wagering now!
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