Horse race betting is a great way to make money and have thrilling real money gambling experiences. However, understanding the basic principles that would help you get it right is essential.
This article will provide tips and valuable insights to beginners who want to get into horse race betting. Once you have mastered these tips, you can check this list of top-rated quality casinos from CasinoUSA to choose the best casinos and sportsbooks with the best horse betting odds and experience.
Types of Horse Racing Bets
As a new punter who wants to get involved in horse race betting, you must know the types of bets available to help maximize your winning chances. The top options include:
1. Win Bets
As a new bettor, you might want to consider going for win bets. This is because this wager is quite straightforward and implies that you are to stake on the winning horse. If this happens, then you have won the bet. Most times, the horse with the best chance to win always has the least odds, so it’s essential to look out for them.
2. Place/Show Bets
This type of bet requires a bit of skill and luck to make a winning. This is because you have to make a pick and decide if they would fall within the first or second place to enable you to win from the largesse. For the show bet, you must pick a horse and hope it comes out within the first three positions.
3. Exacta Bets
Exacta bets are usually reserved for the more experienced players and those who want to win a big bag. This bet requires that you correctly predict the horse that comes in first and second in the exact order. If a bettor can come up with this, they would win a huge payout.
4. Quinella Bets
This bet is similar to the Exacta and only requires that you can make a selection of horses that come in for the first three positions. However, it doesn’t mandate that you get the order they finish right. As long as the horses come in within those positions, you will win your wager.
Guidelines on Placing a Bet
Betting on races requires you to understand a few things to be successful. Here are a few guidelines to follow.
- Understand the Odds
The first step to being a successful horse bettor requires every punter to have a fair understanding of how the odds work. This shows that you can pick out horses based on those the bookmakers feel would win and those with a higher chance of ranking well. Most people make the mistake of getting greedy when placing bets, which ultimately leads to losses. So pay attention to the odds and stick to those with a higher chance of winning unless you want to take significant risks.
- Choose the Right Race
Now that you have a fair understanding of the odds, choosing the right race is the next important step. It is best to understand that you do not need to bet on all races, as you must consider several factors. Punters must consider factors such as track conditions, past performance, and even the jockey’s history to place the right stake. So look into these factors before betting on any race.
- Choose the Right Horse
The outcome of your bet depends on several factors, but the right horse can tip the scales in your favor. Sure, there is no way to know the outcome of a race, but when you have researched a particular horse and seen its track record, you can make a correct decision. If the horse you researched has a good winning record, you might have yourself the right horse to bet on.
Best Strategies for Horse Betting
Developing the right strategies can tip the odds in your favour when betting on horse races. Here are actionable techniques to consider:
Betting on Favorites: These methods require that you choose the horse with the best chance of winning, and as mentioned earlier, they are easier to spot. If you have researched, you will find them easily as they usually have the lowest odds on offer. However, it’s important to note that this doesn’t mean they would win the race; it just makes them favourites.
Betting on Longshots: If you intend to risk it all and make huge money, you can bet on the longshots. This stake involves choosing the horse that has high odds but also could pull an underdog or, in this case, an under-horse winner. This option could provide a high chance of losing your money, but the return is worth the risk.
Betting on Multiple Races: One of the safest ways to enjoy your horse betting experience is to bet on multiple horses. Yes, this spreads your chances of winning and ensures that your opportunities are varied. With this, one of the horses you chose can turn up a stinker while the other pulls a brilliant race.
Conclusion
There is no perfect strategy for betting on horse races, but as long as you research and develop the right strategies, there is a high chance of success. Also, ensure you don’t get radical with your betting but apply financial intelligence as you try to win.
Suzanne Ashton, Founder of Everything Horse (Est, 2012), has a BA Hons in Marketing Management and a Diploma in Equine Science. Suzanne has ridden and owned horses all her life and has twelve years of experience in marketing, writing, design, SEO, and website creation.