A Beginner-Friendly Guide to Placing Smart Horse Bets

Betting on horse races can look very complicated to an outsider looking in. If you would like to start betting, some of the common horse racing phrases and terminology are likely to appear alien. You will also most likely find contradictory answers to questions like how to pick the winning horse, how to place your bet, and where to play. So in this guide, we will do our best to explain as simply as possible, how things work in the world of horse betting. 

Find the Right Bookie

Before we start getting into how you can get excellent at spotting the winning horse with a high degree of accuracy, let us get over where you will place your bets. In the past, players had to spend the whole day at the racecourse to place their bets. But thanks to online gambling, you do not even need to set foot outside your home. There are hundreds of gaming platforms on the internet. However, looking at specialized review sites like bet.xyz, you can see that many operators have ample markets that include horse racing. With this type of review site, comes the additional help of horse racing related guides. You can also use the guides to learn how to choose the best online bookmakers. Once you sign up for a new account, you can start placing your wagers. 

Strategies For Placing Bets

No one becomes a pro at horse betting overnight. Things change constantly, and there is so much to learn. So until you reach a certain level of expertise where you feel confident that you can choose the winning horse on your own, you can use the following factors as a rough guide. Think of it as a “cheat sheet” to pull the odds slightly in your favour. 

A guaranteed way to fail early in horse betting is to put all your money on one race. Sure, you can get lucky and win big. However, you are most likely to lose and quit on your first day. So start with small stakes—5% of your gambling purse is a good start. Not losing all your money at once will give you a better chance to hone your skills. You can always increase your stakes as you get better at the game. 

It is vital to learn how to read the betting form early on. That is because a lot of factors are crucial to how you place your bet. Some of the terminologies can be abbreviated or colloquial, so be sure to research what everything means. An easier way to go about it is to ask the pros. Pro horse bettors usually love to talk, so you will learn quicker. 

Once you learn about race statistics, it is important to find an angle to how you will bet on a race. Horse racing can be very unpredictable, and the favourite usually wins only a third of the time. Therefore, if you always bet on the favourites, you would promptly lose most of your money. 

It does not matter if you go for speed figures, trainer or jockey form, breeding, or gate position. If you think the betting show inaccurately reflects something and one horse has higher winning odds, then you have found good value. That is the horse to bet on.

As a newbie, the temptation is to try and make every race your lucky break. Of course, there is going to be a winner for each race. However, a smart horse bettor carefully culls the day’s program and finds the best three or four races on the entire card. Only bet when there is enough statistics and information to give you the best odds at winning. While you can wait to view post-race stats, watching live races will provide you with better insight on your betting wins and losses. How you won or lost will tell you more than timestamps and official ratings. Watching post-race analyses and interviews will also show you how you could have placed better bets. 

When you are a beginner, you will learn a lot of new stuff and make a lot of mistakes—which is understandable. However, it is vital to learn quickly from your mistakes, as repeating them could be costly. Repeating the same formula and expecting different results is widely agreed to be the definition of madness. If how you have bet now does not work, change it and try new things. 

Like we mentioned before, becoming a pro at horse betting takes time. Explaining the finer details of the sport certainly takes more than one article. However, if you follow the basics in this guide, you will do quite fine while you learn and become a better horse bettor.

Previous articleA Timid Amateur and the OTTB That Opened Up Her World
Next articleThe Biggest Horse Racing Events in the United States