A lot of sports betting today have been affected by the tragedy of the COVID-19 pandemic outbreak. But then, horse racing betting is such a pandemic-proof business. Unlike in other sports, many people place wagers on their favorite horses to earn money while enjoying the race.
But of course, not all bets lead to win and profits, even if you are an experienced or a novice bettor. However, there are still ways to lessen the probability of losing, such as honing your betting skills and incorporating the right betting strategies.
Hence, here are five strategies to improve your horse race betting skills.
Research is the Key
Countless people place their bets on horse racing events, with some even betting enormous amounts of money. But only a few really do their research before placing a wager. They might even not know that research can significantly increase the chances of winning a bet.
But how? You may start with referencing racing forms or guides from different race tracks like in Santa Anita Park. These forms can reveal a lot of essential information about the horses and the race itself that you can use to formulate and decide for your potential horse bets.
A racing form includes the horses’ name, number, past performances, odds, saddle towel color, the jockey and the trainer, and many more. All of these are crucial for your handicapping.
However, you might find difficulties in reading the racing form due to its intimidating language. But once you keep on practicing, it will be just a piece of cake. So keep on learning, and it will increase your betting skills.
Vary Your Bets
Most bettors, especially the inexperienced ones, tend to place their wager on straight bets―win, place, and show. This is because they are the easiest bet types to win. However, if you are aiming for much bigger returns, make your bets varied.
There are other horse betting types that you can try aside from straight bets to make your payout larger. With proper knowledge and experience, you can definitely pull this off. Just practice and start with small bets until you get used to it.
The only downside of varied bets is its risks. They are much harder to win and require skill to execute. But once you win, the risks will all be paid off.
Hence, start learning the other betting types for horse racing and incorporate them into your betting strategies.
Shop Odds at Different Sportsbooks
Shopping odds is just one of the simplest ways of intelligent betting. Through this, you can potentially increase your expected payouts, depending on the sportsbook where you will place your wager. But this is only applicable for fixed odds.
After finally choosing a horse to bet on, you can start shopping odds. Visit different betting sites, and check for the odds. Go for the one with the highest chance of winning and the best one where you can receive the highest payout.
At first, you might not be able to notice the differences between each sites’ odds. But in the long run, the extra money will add and build up. That is why a quick search and shop is worth the time. Just don’t overdo it.
Have Multiple Races to Bet
When talking about probability, the more you place wagers, the more chances you have of winning. That is why betting on multiple races can increase your total payouts once you win. All you have to do is to learn about the different races existing in the world of horse racing.
The Kentucky Derby is the most renowned race in the United States. However, it’s not the only one. In fact, the Derby is only the start of the Triple Crown Series. It’s followed by the Preakness Stakes and concluded by the Belmont Stakes. Punters can bet on each event to win more.
You can also place bets on other different types of horse races. There are the classic races, group races, jumps races, graded races, and many more. You are not only increasing your winning chances, but you are stepping up your betting game.
But just a simple warning: do not bet on every single race out there. It might ruin your bankroll and budget plan.
Make a Budget Plan
A good punter knows how to control their cash, manage their bankroll, and make a budget plan. These are all things that every bettor must learn, regardless of what and how much they are betting. A budget plan will keep you track of your money to avoid losing huge amounts when you’re placing wagers.
Mastering this will extremely affect your betting experience in the long run. This is a skill that requires discipline to pull off.
All of these strategies will help you hone your betting skills to win more on your horse bets. You may find some of these things overwhelming but just take your time. You will eventually be able to successfully do all of these and will turn you into an informed and experienced bettor.