Gambling is, by its very nature, is a risky way to pass time or “invest” money. This being said, if you have a better grasp on what the predicted outcomes could be, then placing a bet at a typical betting website such as Timeform might not be as daring as one would think. For example, if you know the ins-and-outs of horse racing and study every avenue, then your chances of placing a winning bet are increased considerably.
To help you to fine-tune your horse racing strategy and walk away a winner, we would like to share these 7 valuable betting steps with you:
1. Start with Research
Research goes a long way and knowledge certainly is power. This is why you should study each race meticulously before even attempting a bet. Even a quick scan over the racing program will give you an advantage and at the very least, you’ll be making an informed decision.
From researching the horses and their trainers to the jockeys and their winning streaks, every titbit of information will help you to narrow down your ultimate choices.
2. Look for The Best Odds
Once you have all the background info on the races you’ll be wagering on, then your next step is to look at the betting odds. With this in mind, we strongly advise you to shop around. There are so many online platforms featuring betting odds that it can be difficult to say which ones are the “real deal”. By shopping and comparing the statistics, you will once again be able to fine-tune your options.
3. Remember to Manage Your Bankroll
This step is extremely important. A good rule of thumb is to set aside money that can strictly be used for betting on horses. By keeping to this budget only, you will avoid the scenario where you end up gambling away your life’s savings – leaving you nothing else to wager with (there’s just no fun in that)!
4. Decide on What Type of Bet You Want to Place
You get three types of wagers; a win, a place, and a show.
- A “win” is a wager on the 1st place winner and pays off the best if you the odds are in your favour.
- Betting on a horse to “place” is a bet that the horse will finish at 1st or 2nd place.
- Betting on a horse to “show” is a bet that the horse will finish at 1st, 2nd or 3rd place.
When you wager on a horse to place or show, then you are more likely to win but the pay-out will be less.
5. Place Your Bet
Once you have decided on what type of bet you are willing to put your money on, then it’s time to make your first move. Each bet you make will give you more insight into the wagers you decide to make thereafter.
6. Learn How to Bet on A Variety of Races
Once you have mastered the art of horse betting and have a full study of the “names in the game” in your pocket, then you are ready to bet on a variety of races.
With this type of betting, you bet on who will win first place in all the races that will be run on that specific track. This is a tricky wager and we do not recommend it to amateurs – practise the first 5 steps a few times first!
7. Never Chase Your Losses
We urge all bettors to do themselves a favour and never ever place bets to recover the money that’s been lost. A key betting strategy is to understand that betting on horses is risky. Sometimes you will win and sometimes you will lose – even if your wager was a well-thought-out strategy. Stick to your budget and if you come to the end of your bankroll, then walk away knowing you had some fun.
For more tips and advice, please pay a visit to our lifestyle page.