Even though we have more popular sports in terms of fan-base like football and basketball, horse racing is still the third most popular sport to bet on in the USA, which is impressive considering that it is the 26th when it comes to the number of people who watch it.
With a fast pace action that lasts only a couple of minutes, horse racing is much valued for its excitement a thrill of the sport itself even though it is fun to watch. The main reason why people watch horse racing is that they want to place some wagers.
The sport continuously grows in popularity in the betting industry just because it is unpredictable and it has much better odds where you can make more money compared to other sporting events.
Even though many people bet on horse racing, there is a smaller percentage of win rate, which is why in today’s article we will go through some tips that will help you improve your betting strategy.
Do a Lot of Research
Every year there are millions of dollars wagered on horse races, but only a small portion of the bettors would care to do any research. Most of them bet by the name of the Jockey or the number of the horse.
Research is crucial for improving your chances of winning, even a casual glance over the racing program will help you make a wiser decision. For example, before placing a bet on the Kentucky Derby, you should know the horses involved.
Knowing the background of the race such as the time and location will help you eliminate most participants. On top of that, you need to find out more about the distance and the type of course that they will be racing on.
If you know horse racing basics, then you probably understand the importance of their starting position since some courses have advantages and disadvantages.
Once get some information about the place, it is time to learn more about the contenders. Check out each horse rank in their past few races. Knowing which horses are most consistent at finishing in the top three is a good indicator that can help you make a wiser betting decision.
You should also check out other important factors like the weather on the race day, the jockey and trainer and their relation with the horse, and much more.
Diversify Your Bets
The most commonly picked bet in horse racing is the win bet, but there is a higher risk by focusing only on one bet in horse racing. If you really want to up your horse betting game, then you should consider incorporating different types of bets and use them strategically.
Since horse racing is one of the oldest sports in the world, each region has developed its own system of wagers and rules. Make sure you understand each bet and try to diversify your betting strategy, which ultimately will lower your risk.
Before understanding different types of bets, you need to dig a bit deeper and find out how betting systems are calculated. There are three commonly used betting systems in horse racing.
Fixed-odds betting – The most common system across all sports. This is where you stake a wager with a bookmaker, who has established odds for that bet. Your win is calculated by the amount you staked multiplied by the odds.
Pari-Mutel Betting – Instead of calculating your payout odds, the win is calculated on the total pool of all stakes made for that bet.
Exchange Betting – This is the newest form of betting where instead of betting against a bookmaker, you bet against another person.
Choose Where to Bet
It is important to bet on multiple races just to increase your winning chances, but this doesn’t mean that you should place a wager on every single horse race. One way of finding the perfect horse race to bet on is by researching more about the event.
Once you get enough information you should decide if there is a higher chance of winning the event.
Shop The Odds
Last but not least, is to find the best possible odds. Nowadays, it is fairly simple to find the best odds from a bookmaker.
All you need to do is access top betting websites see if they offer competitive odds compared to other bookmakers.
Even though it looks like a small difference in the short term, it will significantly increase your payouts in the long run.