Horse racing is one of the oldest sports people wager on, and it remains one of the most popular choices for punters till now. While it’s an exciting sport that allows you to win real money, you need an in-depth understanding of the sport before backing any contender.
Wagering on a racehorse is straightforward. You’d start by stating the name of the racetrack, the race number of your bet, the dollar unit, type of wager, and horse number, and get a ticket. The process can even be as easy as betting on online poker.
Online poker is that game where you compare cards and wager on the best hand according to existing table rules. For example, you’d get five cards for Draw Poker, and you can trade these cards as much as you want until there’s a winner. You can click here for more information about top online poker sites to get started.
What You Should Know Before Backing a Racehorse
If you’d love to wager on the old yet refreshing sport, don’t forget to do the following to increase your chances of winning:
1. Don’t Exceed Your Loss Threshold
In other words, don’t wager beyond what you can afford to lose. You may be tricked into wagering more than you can afford to lose because you’ve seen richer punters at the bookies. This will probably not work for you.
If you are vulnerable to the pressure, stick to online bookies who can also give you fantastic rates and friendly odds, depending on the strength of the contenders in a race. You can even set a bankroll to avoid going over the amount you’d love to bet. For example, if your bankroll is not more than $150, it’s your responsibility to know how to maximize that money. Depending on the odds, you can even spread your money on different horses.
2. Evaluate the Horses
The horse you stake on determines whether you win or lose. Backing a racehorse without knowing its history, training capacity, or injury history will lead to massive loss.
While it’s unreasonable to put a sick horse on the track, some owners and trainers may be gambling with a horse’s performance and health even when they know its medical history.
Therefore, evaluating every racer in the lineup will improve your chances of winning. You can do a simple Google search to examine their strength, winning history, diet, and other things that will not compromise your win.
3. Review Your Strategy
There are many strategies to evaluate while backing a contender. It’s an unwritten rule to always research the horses and avoid betting on the favorite because of its odds.
It will also help to be conscious of large races as they are the most profitable. Why? You’d have a lot of contenders to choose from, especially if there are about 8 to 12 races. Concentrate on large tracks with better odds, even for beginners, because this is a strategy to improve your chances of winning.
4. Research the Jockey and Horse Trainers
Racehorse trainers not only train the contenders, but are in charge of their skills, health, and are the people in the right position to tell if a racehorse will perform or not.
They condition the racehorses and prepare them for the competition; their biggest concern is nutrition, veterinary attention, and physical exercise. Knowing the trainer of a contender and their reputation can inform you if the horse is fit for a race or not. For example, a trainer with a reputation for ignoring the health and nutrition needs of the horses or endangering their lives when they’re sick will likely train a poor contender.
It would help if you also study the jockeys, which many believe make racehorses run faster. The jockeys must have an amazing racing track record that leads to success. Some believe that a racehorse cannot win without a jockey, and that’s because the jockey controls how fast it runs from the gate to the finish line; jockeys direct the contenders. To know more about the trainers and jockeys, check online for the contenders’ names, their trainers, and jockeys, and read all you can find about them.
5. Forget Your Losses, Don’t Chase Them
If your racer lost a race and your $40 or any amount staked is gone, don’t increase your wager for the next race. You’re chasing your losses, which may increase your chances of losing everything.
It’s better to avoid betting immediately; it’s okay to walk away. This does not mean you should not return to the racetrack or place another bet the next day. Rather, you can walk away for now, take a breather, restrategize and come back with a clearer mind. This act will help you make better decisions.
Choosing a winning contender is hard, but following a strict strategy makes it easier. Before backing a racehorse, you want to be privy to all information to ensure you are making the right decision.
Essentially, don’t exceed your loss threshold, evaluate the horses, review your betting strategy, research the jockey and trainers, and don’t chase your losses.