Being in the gambling industry, you’ve likely heard the phrase playing the ponies, betting on the horses, or something similar. Although this saying obviously points to horse racing, it can be used to indicate many forms of gambling. When people talk about playing the ponies or betting on the horses, they could be referring to many forms of gambling.

It’s just one of those simple phrases people throw around. That said, horse racing has been a long-time favorite for many gamblers. Not only because it is truly exciting, but it is also potentially lucrative for the right individuals. Once you learn a few strategies, where, when, and how to make the right selections, you’ll be bringing in money hand over fist. Another phrase you are likely familiar with.

So, what does one need to become a horse betting sensation?

Put In Your Due Diligence

This probably seems a bit obvious, but you’d be surprised at all the people that overlook the importance of this crucial first step. Whatever form of gambling you are getting into, you want to make sure you understand the game inside and out. Know the rules, the exceptions, the odds. 

You might be surprised to hear it, but the number one reason for failure in horse racing is that the participants only want to bet on the entrants they assume will win the race.

That probably makes the most sense, right? After all, there is only one horse that can take the flag in a single race. This might seem the most plausible, but when you do your research, you’ll quickly discover that it’s far more likely to accrue more money by spreading your bets out on various options. A simple not placing all your eggs in a single basket theory. One that can be applied to many aspects of gambling.

Putting in your due diligence not only means knowing and understating the forms of betting available to you, but it also means knowing the horses, the riders, the tracks, and everything involved with the sport. This will be an ongoing conquest and one you’ll constantly find yourself going back to if you want to be a successful, professional horse bettor.

Spreading Out Your Bets

As was already mentioned, in horse racing there are more bets available than just wagering on the first place slot. You’ll find that the categories of betting range from the simple to the extremely complicated. The prizes in such categories are going to vary as well. It goes without saying that the more complicated the game, the likely higher payout.

Being new to the horse racing industry, it only makes sense to test yourself with some of the easier options. Of course, the rewards will be far less fruitful, but you’ll get a feel for the process, and everything involved. In addition to this, it’ll require less money to ante up, so you only stand to lose fractionally if you lose. สล็อตแตกง่าย, and you’ll find that different gambling establishments offer different gambling options. Make sure you explore all your options and which are the most lucrative for you.

That said, this is the basic concept behind the theory of spreading out your bets. When wagering on the ponies, you’ll want to make sure you spread out your bets. Don’t just put all your funds on the winner of the race. You can bet money in this category but spread it out. You want it so that the money you lose is covered by the money you win.

Controlling Your Funds

There is a large amount of money tied up in horse racing. Therefore, it will likely require more to get started. You aren’t going to an official membership and the privilege of betting on horses and races with just a few dollars. You’ll need an established bankroll that will allow you to make sufficient withdrawals and deposits.

Since you are likely to invest such a larger sum of money, you want to make sure you control it vigilantly. It isn’t something you’ll just want to throw around with abandon. Always diligently monitor the money you are wagering, where, and how you are wagering it Some professional horse gamblers even like to establish monthly or weekly allotments on their gambling proclivities.

This is certainly not a bad practice to utilize to make sure that you are not overspending. Applying this will also force you to take a much closer look at where you are losing. This is a concept that can be applied to all forms of gambling.