Strategy For Betting on Horse Racing
We should start out by making it very clear that there is no guaranteed recipe for success when it comes to horse racing betting and it is not easy to consistently turn a profit through betting on horse racing. With that being said, there are plenty of people out there that do – and you can certainly increase your chances of winning by putting some effort into making your selections. Those bettors that are truly successful at horse racing betting generally work very hard to give themselves some kind of advantage, and you too will need a strong work ethic if you are to have success yourself. Below we have offered some advice on horse racing betting strategy, covering the following:
- The Form Guide & Research
- Pre-Race Observation
- Value Betting
- How to Place Your Bets
- Money Management
The Form Guide & Research
A form guide contains a wealth of information pertaining to horses that are running in a race. You will find a host of useful statistics and results that can help you get a feel for which horses have got a chance of winning any particular race. In particular you should be looking at the recent results of the horses, as horses that are winning consistently and in good form are often the most likely to be competitive in an upcoming race. However, recent form is not necessarily a good enough guide simply by itself, and there are a number of factors that you need to take into account. If you research the right kind of information, then you will be in a strong position to decide which horses might have an advantage in the race.
The distance of a race is certainly a factor that you need to consider. For example, a horse may have been won several recent races – but those races could have been at shorter distances than the upcoming race. Most horses will have a preferred race distance so it is usually a good idea to look for horses that have been successful over a distance that is the same, or very similar, distance to the upcoming race. You also need to think about the surface the race is being run on, and the “going” – a term used to describe the condition of the surface. Again, horses will tend to have a preferred surface and a preferred going. Ideally, you should try and research the distances, surfaces, and going that a horse might favour before placing a bet.
You also need to consider the class, or grade, of races that a horse has run in previously. Horse races across the world are categorized into classes or grades based on the quality of the race. A horse that has been very successful in recent races may have been running in low class races, and now be about to take part in a major horse race. This doesn’t mean the horse will have no chance of course, but another horse that has been reasonably successful in other high quality races may well have a better chance. You might also want to look at how successful a horse has been at the relevant racecourse too – as some horses do much better at some courses than they do at others.
It is not only the form of a horse that you should be researching; you should also look at the form of the jockey and trainer too – again taking things like course and distance into account. Just like horses, some jockeys and trainers will do well at certain courses and distances but not so well at others. Of course, you don’t necessarily need to look into things too deeply if you are only betting for a bit of fun. This kind of research is not hugely exciting, and you should only worry about these things if you are serious about trying to make money out of horse racing betting.
This is not something that is always going to be possible for you, but if you are watching a race on television or actually at the racecourse then you can maybe learn a little bit about a horse’s chances by watching it in the parade ring before the race. Obviously, the more you know about horses the more you will be able to gauge simply by watching them. Some things to look out for are the general condition of a horse and its demeanor in the ring. A well-toned body with a clean and shiny coat is usually a good sign, as is the horse looking alert with its head held up high. A horse that looks distracted, nervous, or uncomfortable is possibly one to avoid in the betting.
One very important, and yet often overlooked, aspect of betting on horse racing is value. If you are to make money out of horse racing betting consistently, then it is absolutely vital that you bet for value. What this means is that you should try and place a bet where the odds are greater than its actual chance of winning. Value bets won’t always win, but if you have the ability to spot good value bets then you will have a very good chance of winning in the long run.
We should also mention something about betting on favorites. The favorite in a horse race is the horse that is deemed most likely to win, and as such has the lowest odds. Some bettors will avoid the favorite at all costs because the odds are low, but this is not necessarily a good strategy. While it is not a good idea to simply bet on the favorite every single time, there are times when it is the right bet. After all, it is much better to win a bet backing a horse at low odds than it is to lose a bet backing a horse at high odds. This really comes down to value again, and backing your own judgment; if the odds on a favorite represent a fair price or good value and you genuinely believe it is going to win, then there is no reason not to back it.
How to Place Your Bets
This is not directly to do with choosing which horses to back, but it is something worthy of consideration nonetheless and you should put some thought into to deciding how and where you are going to place your bets. You could use a bookmakers shop if you have one local to you, and simply go in whenever you want to place a bet. Alternatively, you could use a telephone betting service. If you are at the racecourse, then there will probably be a number of on course options. However, in our opinion, the best way is to do your horse racing betting online – for a number of reasons.
One such reason is the convenience factor. There is a number of online horse racing betting sites on the web, and they are generally very user-friendly. All you need is a computer and access to the internet and you can place your bets from the comfort of your own home any time you want. By doing your betting online, you can compare the odds available on races at different sites and place your bets at the most favorable price. A number of online betting sites also make it easy for you to do your research, as they will publish race results and statistics that can be useful. Even if they don’t, there are plenty of places online where you can get this kind of information anyway.
Many of the best horse racing betting sites are also accessible through a smart phone or mobile device, so you can quite literally bet whenever and wherever you want. It is also worth noting that if you use an online gambling site that offers good bonuses and promotions you can get some extra money back or free bets just for placing your horse racing bets with them. This is not something you will get from a bookmakers shop or a racecourse betting outlet! Find the best bonuses by trying any of the gambling sites reviewed on our homepage.
Our final piece of advice is in to spend your money wisely when betting on horse racing. One rule of horse racing betting you should definitely be aware of is that you do not need to bet on every race. This is something a lot of beginners do, and it is usually a mistake. There are many different types of horse racing that takes place all over the world, and it is very unlikely that you (or anyone for that matter) will be able to follow it all closely enough to be successful in your betting. You are much better off trying to become something of an expert in one particular type of racing, looking for those value bets and only betting when you have a good reason to. If you are struggling to decide which horse you will think will win a race, just wait for a better opportunity.
Another rule, which applies to all forms of gambling really, is that you should never chase your losses. If you go on a bad run and back a lot of losers, then either take a break for a while or reduce your stakes until you get your confidence back. You should always set a budget that you are happy to bet with, and comfortable losing, and then stick to that budget. Never bet with money that you cannot afford and always gamble responsibly.