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How to Profit with Horse Race Betting

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Betting on the horse races. 

Horse race betting has been around for a very long time, and horse race betting is still one of the world’s favorite pastimes. In fact, horse racing is, and has, consistently been in the top five most bet on sports in the world. 

There are so many ways to bet on horse racing, you could just head down to the track, you could bet online, and you can find contenders here. You can place many types of bets, bet on many races, it’s endless. The opportunities never end. However, everyone wants to win when they place a bet, no one bets to lose. So, how can you win and make profit on your horse racing bets? It’s all down to simple strategy and understanding. 

Here are some tips on how you can work towards gaining horse race betting profits when you next decide to take a gamble at the track.

The basics of horse race betting. 

Before you place any horse racing bets, you first need to understand the absolute basics of doing this. This means that you need to understand the jargon and terminology of this sport. You should also know how to read a race card. We also recommend learning to understand how horse race handicapping works. 

Once you know the basics of how to place a bet on a horse race, you are halfway there. Never jump in head first into any betting when you are inexperienced and do not understand the way the betting works, this is just a recipe for disaster and a lot of lost money. 

Always do your homework. 

One of the other basic rules of horse race betting is to do your homework. Thousands, maybe millions, of people bet on horse races every year, but only a few will do so without doing any proper research. Even if you just take a glance at the racing program before you place your bet, your chances will increase. 

Racing forms/ guides will give you all the information you need to know about each race and the horses who are competing. Nothing will tell you which horse to bet on, but it allows you to make an informed decision. 

These forms will typically contain the position, name and age of the horse, as well as their color and lineage, and gender. You will also get information on their weight and the name of the jockey and trainer. 

If you’ve done your homework, some of this information will mean something to you and your bet can be even more informed, thus increasing your chances of winning even more. 

Try different kinds of bets.

To give yourself a greater chance of winning, making different types of bets can be very beneficial. There is the win bet, which is very popular, which just focuses on you choosing the horse that you think will win. However, there are many other bets available too. There are also place, show, and across the board bets as well. 

After win bets, place bets are the next most popular. This is a great bet to place if you think your horse has a great chance at winning, but you are not dead certain. You could bet that they may come in the top three, rather than just being the winner.  

As you can choose your type of bet, it is also useful to understand the betting systems and how the payout is calculated per bet. Fixed odds is the most common, you simply stake a wager with a bookmaker who has established the odds, and your payout is calculated on the amount you stake multiplied by the odds. Odds are shown as fractions, decimals, or money line odds. 

Bet on more than one race. 

It can also be beneficial to bet on more than one race, but do not bet on them all! Doing this is simply a matter of probability. The more bets you place, the more likely you are to win. Betting on multiple races also puts you as being a smarter bettor than most. 

There are so many races, you will have plenty to choose from. If you bet on the Kentucky Derby for example, why not bet on the triple crown, thus increasing your chances of winning by two more times. If you didn’t feel like doing this, you could simply bet on the races leading up to the triple crown. 

Or you could bet on something else, horse racing comes in many shapes and sizes, and traditional flat racing is not the only kind. You could start out with the National Hunt, or quarter horse racing. 

Always look after your bankroll. 

Finally, no matter what type of race you bet on or how many races you bet on, always be cautious of your bankroll. Be careful of potential overspending, and set yourself a cut-off. You need to ensure you still have enough money to pay your bills, afford groceries, and insurances. Do some budgeting and make sure you only spend what you can afford on your horse racing bets. While horse racing is fun and a great pastime, it is not worth your financial security.