There are few more popular hobbies than sports betting, with the topic typically striking up an immediate conversation between fans of certain sports.
Money-making has been possible with online casino bonuses on slots, blackjack and roulette, as well as sports betting. Soccer betting, horse racing, and American Football wagering in the U.S. have been legal in most states for a while, but it has only accelerated due to the strides made in online betting.
Horse racing is most common among bettors around the times of the biggest races of the season, with even novices getting involved when it comes to placing wagers on events such as the Kentucky Derby and Breeders’ Cup Classic.
However, what are some of the key gambling tips that are worthwhile following to ensure that you stand the best chance of gaining returns on your selections?
Set A Budget & Take Breaks
Two keys tips that go hand-in-hand when it comes to betting safely are setting budgets and taking regular breaks. The latter is vitally important when it comes to horse racing, given that the high-stakes races don’t run throughout the year and there is typically a cooling period following the Breeders’ Cup before the key Kentucky Derby trials get underway. You can learn more on how to bet in horse racing here.
It is also important to note if you’re a flat racing fan or prefer the jumps. If you have a niche for betting, it is important to not overstep where you get the most winners. Setting a budget is one of the biggest considerations that all bettors must make before placing even their first bet on sport.
You should only be willing to bet what you’re happy to lose, as there is no guarantee that you will walk away with returns from a wager.
Exceeding this budget typically leads to bettors chasing their losses, which will only have a detrimental impact on the long-term gains that you can likely win. Taking breaks will also ensure that you’re rested and recovered before going back into reading the latest form.
Don’t Hedge Bets
Hedging bets is a common tactic when it comes to getting winners in horse racing, as covering two or more selections will immediately give you a better chance of winning money.
However, for many experts, they strong disagree with the idea of hedging, as it defeats the object of handicapping races in the first place. In fact, many believe that it is a way to lose money when your hunch was actually correct.
Instead, experienced bettors will do all the relevant research before coming down on the one horse that they believe will win the race. Not only will this ensure that you aren’t splitting your stakes for the race, but you could also win more in returns if your initial prediction was correct after all.
After doing all the hard work, why settle for anything else than gaining maximum returns for a winning selection?
Understand The Long-Term Target
Horse racing action takes place throughout the year, which is something that newcomers to the sport typically tend to overlook. Trainers will always have a big race in mind when it comes to a particular runner, meaning that sometimes a prep race isn’t the best time to place a wager on a talented runner crossing the line first.
Instead, prep races can be used to get a run into the horse in order to maximise its fitness with bigger targets in mind for the season.
While it is rare for horses on the Road to the Kentucky Derby to be entered with anything else in mind other than a victory to secure their berth, the same can’t be said for horses that have their eyes on bigger handicaps later in the season.
Therefore, a staying chaser entered into a three mile handicap off top weight at Stratford may not be the best bet if they already hold an entry for a race such as the Grand National, as trainers may be simply looking to get a run into their entry to improve its fitness and gain a more favourable weight to run off later in the season.
Find Value In Markets
Most newcomers to horse racing will simply stick to the win market and hope to find the runner that is first past the post.
However, experts to the sport are aware that sometimes better value can be found by shopping around at all the markets available. Sometimes, it could be worth making a place bet if you like an outsider in the field, as you will cover off the insurance in case it finishes second or third in a race.
Meanwhile, Exactas are a popular betting choice when it comes to races where the top two in the betting are far better than the other runners competing. With a wealth of racing markets now available online, there has never been a better time to find value in the odds online.
