Figuring out how to place a winning bet on horse racing can be pretty daunting, especially if you are a newbie. Even for experienced bettors, betting without having carefully laid down strategies or without some form of expert guidance is a wild gamble at losing all your bankroll. Be it football, tennis, hockey, basketball, boxing, or whatever sport or event one is staking on, a clearly defined strategy is what delivers you profit at the end of the day.
Are you are new to the horse betting circle or have some experience but have been on a losing streak? This guide is exactly what you need to figure out exactly what you are doing wrong and the strategies to savage your slimming bankroll.
Best Ways to Bet Horses
Research the horse, but most importantly, research the jockey controlling the horse. What have they been up to recently? How long has he raced with the horse? Does the jockey have a history of winning? Has he lost shape? Is he on a losing streak or coming off it? Have they raced on that track before? The jockey's experience with the horse is critical because they must have developed some bond and understand each other's every move. Is the jockey new to the track? Or has he been racing on the track for quite a long time? These are some of the pertinent questions that must be considered in betting horses.
Going to the tracks or visiting your favorite racebooks with a strategy and tips backed by facts and statistics will make you more money than gut feeling and trackside tips.
Common Horse Racing Bets
Below are some of the common types of horse bets available in most sportsbooks.
1. Win: This is one of the most popular types of betting, as it involves selecting a horse that will first cross the finish line. The return on investment for this type of betting can range from little to huge, depending on the odd of the selected horse. The least amount permissible to stake on a horse race for most online sportsbooks is $2.
2. Show: In this type of betting, one is wagering on a particular horse to finish in first, second, or third position in a race. If the chosen horse finishes off the board - outside the first three, you lose.
3. Daily Double: The Daily Double bet is the selection of the winners of two consecutive races. While the Daily Double bet is not easy to nail, it is, however, highly rewarding.
4. Exacta: The Exacta bet is the selection of the first two finishers in a horse race in their exact order. The minimum stake for this type of bet is $1, other some sportsbook maintains a minimum of $2.
5. Trifecta: The selection of three horses which the bettor thinks will finish the race first, second, and third, in that order, is known as the trifecta bet.
6. Pick 3: This entails making a bet that requires you to select the winner from three different races. For instance, you place a pick 3 bet on race 2, 4, and 6. The payout on winning a pick 3 wager can be handsome, ranging from $100 up to $1000, even for a bet as low as $1.
7. Place: A place bet implies putting your money on a horse to come first or runner-up. It is a safe bet, especially when placed on the favorite. The return on investment is less than you would receive on a straight win.
Tips on How to Pick the Best Sportsbook
It is no new knowledge that no two sportsbooks are the same, and as such different sportsbooks offer different features, bonuses, and promotions to enhance your betting experience. However, selecting the sportsbook to go with to satisfy your horse betting needs is not as daunting as most people make it out to be.
The major differences eminent in sportsbooks that you should look out for are various betting opportunities offered, payment method available, customer service, history, reputation, and promotions featured.
In the process of choosing a sportsbook, you must consider security, the safety of your details (personal and card details). The sportsbook must be safe and secure with the latest encryption feature to protect your private information. Yet another issue to consider is the withdrawal duration, how long it takes to cash out your winnings from the platform, and the various withdrawal options that suit your need.
Overall Strategy and Betting Tips
In other to ensure that you earn some profits from horse racing, you must have some reliable strategies that have been proven to work overtime. Below are some of the strategies we have tested and can confidently recommend;
Bankroll management is number one for us because of how salient it is. In horse racing or any other form of sport betting for that matter, a regulated strategy on how to manage your bankroll is very crucial. It is advisable not to bet more than 1-5 percent of your bankroll on a race, especially if you plan on betting on horses over a long period or raking in some income from horse racing. Having a key strategy backed with facts and history and disciplined bankroll regulation are the key elements to making some decent income from horse racing.
Sticking To A Betting Plan
Every bettor who is serious about not losing his entire bankroll must be disciplined enough to adhere to a betting plan. Even if you hit a good winning streak, it is very crucial not to go overboard and put money on races you are not confident about or planned to put your money on. Learn how to walk away when you have gotten to the end of the last race you planned on betting on. Once you begin to lose focus and carelessly gamble money on a wild goose chase, your bankroll will suffer, digging deeper holes into your finances.
Beaten Favorite Strategy
This strategy implies wagering on a horse that has a good history of winning consistently but lost her last race. A winning horse can't just turn bad overnight, but before you put your money on the horse to win the race, it is imperative to do some good research to find out if there have been any drastic changes. For instance, has the trainer been changed? What of the feeding regimen, has there been something new introduced? Was a new jockey recruited? Some of these questions, if carefully investigated, one can make an informed decision as to whether the horse that lost in her last race can deliver the goods.