With the increasing popularity of horse betting, it isn’t surprising why many people are wondering how to start. In today’s article, we will explain the main aspects of horse betting, give useful tips for beginners, explain what’s the famous TAB NSW and more. Stay tuned to become an expert in horse racing bets.
Industry Overview
People have started to predict the outcomes of horse races as soon as the races became popular. It was always an interesting challenge as there are lots of factors affecting the results: the jockey’s abilities, the condition of the horse, the features of the track and others. For many bettors, making such predictions makes watching the races more interesting. Horse betting has a long history, but it is still popular in Australia. In fact, it’s now at its peak of popularity.
In New South Wales, there are lots of bookmakers, but TAB plays a special role. TAB has a legal license to provide totalisator bets and is currently the largest wagering company that has more than 4,000 venues in Australia. The bets are accepted by phone, in venues and through online betting platforms.
Types of Betting
There are two general types of betting on horse races: fixed odds and totalisator. Fixed-odds betting involves a bookie setting the odds. With such bets, you will be basically playing against the bookmaker on their terms. You make a prediction with a specified odd, and it does not change after the bet is made. If the prediction is correct, you will get your initial sum multiplied by the odd.
The totalisator is a whole other category of bets. In such systems, you are playing against other punters. While with fixed odds, you know the expected winnings beforehand, with totalisator bets, the odds will be determined based on the predictions of other punters. The less money is bet on a specific outcome, the higher will be the final odds.
Beginner Tips
If you’re only starting your horse betting journey, we have some tips for you. Following them will help you develop a strategy, gain the necessary experience and not get disappointed after making common mistakes. We would like to outline the following tips:
- Start small. If you have no experience, don’t rush by making all-in bets.
- Plan beforehand. Determine the sum of funds you’re ready to lose before making the bets.
- Diversify your bets. Don’t make the same bets over and over again. Try experimenting with betting types, events and horses you bet on.
- Research first. Don’t make random bets: learn the background information before wagering.
How to Choose a Horse?
Of course, successful betting involves a large portion of luck, and there is no method to keep consistently guessing the winner. However, the necessary information may increase your chances: knowledge is power here. Let us review the most important aspects you should pay special attention to in detail.
Favourite
Every race has a favourite – the horse with the highest chances of winning. Betting on favourites is a good way to start, but it also has some drawbacks. For instance, the odds on favourites are always lower than on other horses. In the long run, such a strategy may result in losses.
Horse Overview
A good idea would be to find a brief description of the horse and the events it took part in. This information may be presented in several lines of text, but the value of this knowledge is high.
Jockey Info
Many punters follow the strategy of betting on jockeys. The skill of a jockey obviously has a huge impact on the outcome, so finding an experienced sportsman and betting on their victories is not a bad idea.
High Odds
Some players prefer to bet on underdogs as they have better odds. This strategy also has some logic behind it: with consistent favourite bets, you will sooner or later lose, which will most likely void your previous winnings. At the same time, winning with a high odd after several losses has a good chance of resulting in a total profit.
Track Info
Information about the track and the weather may also play its role. The performance of a specific horse may vary a lot, depending on the track distance, the weather and the general condition of the track. Knowing the history of races for a specific horse will help you make an informed decision.
How to Make a Bet?
Making a bet is easy if you know the procedure. It may vary a bit, depending on how are you registering the bet (online, by phone or at a venue), but the general rules are common. No matter how you are placing the wager, you need to deliver the key information to the bookmaker. The steps you have to perform are:
- Select the type of bet.
- Configure your bet by indicating the race and the horse you’re betting on.
- Select the amount of your wager.
- Pay for the ticket.
Main Betting Markets
The markets available for betting may vary a lot between different bookies, so here we will only review the most popular ones. First of all, there are the most popular “Win” and “Place” markets. As their names imply, they involve betting on the victory of a specific horse and on its place in the race correspondingly. An “Each way” bet is the combination of these two.
“Quinella” bets involve guessing the first two horses to reach the finish line in any order, while “Exacta” bets imply guessing the order as well. To win a “Duet” bet, you’ll need to predict the two of three winners. “Trifecta” bets have high odds, but you’ll have to guess the first three runners in the exact order. “First 4” bets are the same as the previous type, but for the first four places. “Double” bets require you to name the winners of two races in a row.
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