OK – for full transparency, there’s no guaranteed road to success when it comes to betting on horses… if there was, everyone would be doing it. That being said, horse racing betting can be very exciting and potentially lucrative – but to give yourself the best chance of success you will need more than just luck.
To have the best chance of picking a winner, you need to think about strategy, do your research, and you’ll need discipline. So, with that being said, here are our top tips for becoming a successful horse racing punter.
Understand the Basics of Horse Racing Betting
Before you place any bets, you need to make sure you fully understand the various types of bets you’ll find when you hit the bookies:
- Win: Betting on the horse you think will finish first.
- Place: Betting on a horse to finish either in first or second place.
- Show: Putting your money on a horse to finish in the top three.
- Each-Way: A combination of win and place bets.
- Exacta: Putting your bet on two horses to finish first and second – in the exact order.
- Trifecta: Betting on three horses to finish first, second and third – again, in the exact order.
- Superfecta: Betting on four horses to finish in the exact order.
Do Your Research – on the Horses and Jockeys
Anyone who wants to give themselves the best chance of success will have to take time doing their homework before they part with their money. Some of the factors to read up on include…
- Form Guide: You should always look at the past performance of the horse.
- Jockey and Trainer: A horse that’s been trained by a successful trainer and ridden by an experienced and successful jockey has a much better chance of success.
- The Track Conditions: There are some horses that perform a lot better on certain surfaces or in certain weather conditions.
- Class of Race: The higher the class of the race, the stronger the competitors.
- Recent Performance: Look to see how well the horse has performed in its most recent races – and whether or not it’s in good form.
Managing Your Money
No matter what else you do and how well you research, you need to make sure you’re managing your bankroll effectively.
Before doing anything, set yourself a budget. You need to decide how much you are willing to (and can afford) to wager and stick to it! Then, you can decide to either bet the same amount on each race to avoid large losses (Flat Betting) or bet a percentage of your bankroll (around 5%) so that you adjust to fluctuations in your available funds.
You also need to make sure you pick the best odds… for example, check out Boylesports horse racing odds today – and then compare them to other bookies to make sure you are getting the best deal.
Whatever route you go for, make sure you never chase your losses! It’s all about discipline.
Try Out a Betting Strategy
There are also various strategies you can try out to up your chances of winning.
You should always look for a value bet – which is essentially betting on a horse that you think has been given odds higher than its actual chance of winning. Other than that, you could try:
- Dutching: Betting on more than one horse in a race to make a profit.
- Lay Betting: Use a betting exchange and bet against a horse winning.
- Arbitrage Betting: Taking advantage of the various odds discrepancies between different bookies to guarantee yourself a profit.
Don’t Forget About Promotions and Bonuses
Lots of bookmakers also offer seriously generous promotions and bonuses, especially when there’s a big race or festival coming up like the Grand National or Cheltenham Festival. Look out for things like Free Bets, Enhanced Odds and Cashback offers… and don’t forget to read the T&Cs attached to make sure you’re getting great value deals.
Stay Disciplined and Keep Records
Long-term success requires discipline. A good way to do this is to keep a betting log – where you track all your bets – wins and losses. Also, make sure your goals are realistic – and don’t try to aim for unrealistic profits. Most importantly, never let your emotions influence your betting decisions.
Essentially, you need to learn from your experiences and adapt. Make sure you stay informed on any upcoming races and competitions, any changes in horse performance and other important industry news and trends.
Conclusion
Obviously, there is no guaranteed way to win every bet, but by researching and being strategic and disciplined you can give yourself the best chance possible! Remember, have fun and always bet responsibly!
