Horse racing is hands-down one of the most popular and historic sports ever. For context, the horse racing industry in the United States is well over $3.6 billion. But you would be mistaken to think all the money is exclusively pouring into the pockets of the racers.

Punters are making a fortune from horse race betting as well. Why wouldn’t they when they can tap into incredible horse racing odds on liontips.com?

But having established the lucrativeness of horse race betting, you may be wondering why you have not won as much in your bets. Well, if you are not winning as much as you would love, here are some mistakes you could be making.

1.   Betting on all race types and tracks

Choosing the right horse race track to bet on is not always easy. But then most bettors overdo it by blindly betting on any and every race or track they feel like betting on. 

This is inappropriate as there is a higher percentage of losing your money if you don’t streamline your bets.

To mitigate this, consider concentrating your efforts on specific tracks and races. Since you have a narrow scope, you can focus your bets on the greatest possibilities. 

2.   Considering speed as the only factor for winning

Most horse gamblers are guilty of betting on horses deemed the fastest in previous races.

While speed is important for victory in horse racing, it isn’t the only factor to consider when betting on a horse race.

Other factors can affect the horses’ performances. These include the track conditions, weather, and even the jockey.

Therefore, it is best to factor these conditions into your strategy and not only speed to increase your chances of winning.

Ensure you holistically factor all these in when picking a horse to bet on.

3.   Desperately attempting to recover losses

Losing bets is agonizing. While you may be tempted to try to recoup your losses by pouring more money in, it’s critical to keep your cool and avoid getting carried away by these losses. This is because you could probably lose a lot more.

Instead, after some losses, refrain from betting more. This is especially when you notice yourself getting emotionally agitated.

Take your time to analyze the bets you lost to know what you did wrong. Do further research on which horse and track to bet on before resuming. 

This process can take a long time – that’s okay! However, it’s better to take your time to understand why you lost than jumping into it again and losing more.

Logic is far more profitable than instincts in betting.

4.   Always depending on luck

In betting, luck comes in handy most times, especially when least expected. However, luck is not the best recipe for success in horse race betting. This is because various factors in play here can counter the expected luck.

To this end, the best method to adopt is a good strategy. Analyze the bets you want to place and ensure that your strategy is potent and workable. Let it be that luck comes in as a secondary factor to complement your implemented strategies.

5.   Overlooking the jockey

Most bettors, especially beginners, tend to concentrate more on the horses and forget about the jockeys. 

However, while riding the horse, these jockeys also play an essential role in the horse’s performance. Therefore, their experience and controlling the horses are all critical factors to consider.

Examine each jockey’s previous results with other horses and when the jockey and the horse were partnered. 

6.   Inadequate Preparation

If you don’t plan, you intend to fail. This adage is true on the racetrack, just as in other areas of life. 

Of course, you are not going to bet with play money. You would bet with your precious dollars. 

This necessitates meticulous planning well ahead of each race on how funds would be expended. A successful gambler always has a strategy in place and is well-prepared to carry it out on race day. 

It’s possible to strike it rich once in a while, but anyone who consistently wins is unquestionably a leader in the field.

7.   Succumbing to External Influence

There is always the possibility to easily get convinced by another bettor’s suggestion before betting on any horse race. 

Besides, if there is a fan favorite, it can also influence bettors to select that one due to popular demand. 

While this approach may be correct at times, it is best not to get swayed by the thought of others easily. Instead, be firm with your position and follow your strategies.

In addition, do not be on the lookout for the fan’s favorite just to bet on them. Instead, do your homework and implement your strategies on the best fit.

In all, we hope this guide helps in streamlining your horse race betting decisions to increase your winnings.

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