Horse racing is a popular sport that people have been enjoying for centuries. There are many different types of horse racing events, each with their own unique set of rules and regulations. The Cheltenham Festival, for example, is one of the most popular horse racing events, held at the Cheltenham Racecourse with the Cheltenham Gold Cup as the ultimate prize. Whether you’re a seasoned pro or a first-time spectator, it’s important to know what to expect before attending a horse race. Even more so, when you’re planning on placing a bet.
There are many things that need to be considered with regards to betting on horse races. From familiarizing yourself with the different types of bets available to studying the form of each horse. In this blog, we will be providing you with some tips and tricks that will help make your betting experience more successful; however it is still important to remember that it ultimately takes time and practice to become an expert at horse race betting. So if you’re new to the betting scene, keep reading for some guidelines that you should follow to get you started in the right direction.
Familiarize yourself with the different types of bets
Horse racing might just be one sport, however there are many different types of bets available within this sport. If you want to get into horse race betting, you must familiarize yourself with the variety of bets available so that you can choose one that works best for your strategy. A few common bets that you might come across include:
- Win bets: This is a bet that you will make on the horse you think will be the first to cross the finish line.
- Place bets: A place bet is who you think will take the first or second spot.
- Show bets: A show bet is a bet on which horse you think will place first, second or third.
- Horizontal exotic bets: This is not a simple bet and needs you to select who you believe will win consecutive races before the racing series begins.
- Vertical horizontal bets: With this bet, you are required to predict the correct order of the race results.
Some bets work better for newcomers than others and it is generally recommended to go with win bets as your key bet. It is also recommended that you avoid betting on more than 2 horses to win a single race and as a beginner, avoid exotic bets altogether.
Learn about the horse and their past performance
You cannot make a successful bet without being well informed. It is important that you take the time to learn about the horse that you are interested in as well as the past performance of that horse. This will help you make a more informed and strategic bet because you will have an idea of the horse capabilities which will give you confidence. Part of your research should also include gaining information about the horse trainer and the jockey if applicable because they are key components that will have an influence on the outcome of the race. Also investigate the bloodline of that particular horse and the breeding history because fast horses generally come from a bloodline of fast horses. Thankfully, there are plenty of platforms available that you can use to analyse data and the necessary analytics.
Look for value in the odds
Odds are something very important to consider when horse race betting and you will need to shop the odds to find the best one and to increase your overall pay out. Once you have selected the horse or the horses that you want to bet on and chosen the type of bet you want to place, you need to shop the odds. You can do this by checking a variety of online gambling sites to find out what the odds are for a specific bet. You can then make your decision based on the option that gives you the highest chance of winning. It might seem like this step doesn’t make too much of a difference however it is worth sparing a few moments to engage in some research.
Keep track of your bets and learn from your mistakes
Documenting your bets is a very important practice you should get into the habit of doing because this is a way for you to learn what your strengths and weaknesses are as a bettor. It will essentially open your eyes to the places where you are struggling so that you can work on those weaknesses as well as identify your strengths so that they can be your focus when betting in the future.