The most common question avid horse racing fans want an answer to is how to make money from horse race betting. This question has become obvious to ask since nobody wants to lose, mainly because huge amounts of money are on the line.
To attain a winning habit, you’ll need to have good knowledge about the horses participating in the race. If you don’t, you may need to learn some tips from people who have been betting long enough to know better.
For a little help, below are some helpful tips that will cultivate good habits to start winning.
Get The Right Value
In horse racings, choosing a likely winner is not enough. It would be best if you also found the right value price for your runner. The idea of value in horse race betting is something that many bettors don’t understand or tend to overlook.
And yet, the value is an essential thing in horse race betting. Most bettors assume that the high odds are equivalent to high value. On the other hand, low odds imply poor value. However, this is not always the case.
In principle, value is about the odds of a bet compared to the actual probability of that bet winning. Say, for instance, 10/1 odds on a horse. Most bettors would think this is an excellent value because, with a stake of $10, you win $100.
But if the particular horse has a low chance of winning the race and is a complete no-hoper, there is no value. When you consider value every time you make a bet, you have a good chance of making money out of your wager.
Even so, it can be challenging to assess the value of a wager because it only comes down to a matter of feeling and judgment.
Pick The Right Horse
Horse race betting can be a profitable venture. However, it can be very upsetting, too, because they’re unpredictable. The good news is that with the necessary information, you can significantly boost your odds.
That’s why it is crucial to get a good idea of the contender you think will win the race. Look at the following information when it comes to choosing the right horse:
- Past Performances. Knowing the finishing place from past races is a crucial piece of information. For example, if a horse is consistently winning, then it’s an excellent bet to try. Make sure to dig a little deeper and look for patterns.
- Days Since The Last Race. When choosing a horse to bet on, you want a well-rested one, but not to an excessive degree. The best time for time off is probably between 30-60 days.
- Past Course and Distance Wins. If a horse has won a course win, a distance win, or the same distance and course win, then it’s safe to presume that they will perform impressively in that area again.
- Trainer and Jockey Data. It’s a good idea to check on the jockey and trainer data to know their proven history at certain tracks and distances.
Line Movement
Knowing when to place your wager can be the disparity between a big profit and a modest win. As such, line movement matters. Using this to your advantage is an excellent way to get the most out of your betting profits.
If you think the horse racing odds will move against you, then it’d be wise to place your bet as early as possible. Alternatively, if you think the line has moved in your favor, then don’t wait anymore. Place your bet right away.
Know Your Bet Type
In horse race betting, it’s important to play to your strength to make money. With that said, bettors must know what type of bet is most suitable for their strategy. For instance, if you are focused on making small profits over a long period, you might be best suited to win, place, and show bets. On the other hand, you can bet on exotic wagers if you want to take a risk.
Stick to Your Plan
Stick to whatever plan you make. Don’t get influenced by emotions when you make your bet. Use your money to bet responsibly and accordingly. Also, it’s not necessary to bet the same amount on every horse racing event. Ensure to know when to decrease or increase your bet as it’ll help you not practice any bad habits.
Betting the Right Way
Although it is possible to make profits in horse racing, bettors should always prepare in order to win. Plus, it would help if you learned the intricacies associated with the sport to make horse race betting much more manageable. Remember that there is no formula or method to secure a win. Even so, with informed decisions, you can ultimately boost your chances of winning.