One of the most popular sports to bet on in the world is horse betting and has been for hundreds of years. Horse racing has always been called the sport of kings, and it is no surprise why so many people bet on horses every single day, especially online at sites like BoyleSports which was recently recommended by British Racecourses, which you can read about here. If you want to bet on horses, or you have been and haven’t had much luck, here are 6 horse betting tips for beginners to increase your chances of winning, from budgeting effectively to researching the horses you want to bet on.
Budget Effectively
One of the most important things you could do is to budget effectively or manage your bankroll effectively. Not everyone has unlimited resources to use to place bets, and if you’re new to horse betting, you might find that you have spent your bankroll rather quickly.
Considering that you will probably lose more than you will when first starting, it’s important to have a strategy in place to make sure you spend your money effectively. In the beginning, it might be effective to allocate a certain amount for the month, then calculate how many races you will bet on and give yourself a daily or weekly allowance.
Learn The Betting Types
The next thing that you should do, especially if you are new to horse betting, and even if you have been betting for a while, is to learn the different types of bets. While this might seem basic, most people don’t know what different bets have different odds of winning.
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Show – Easiest chance of winning since your horse must finish either 1st, 2nd, or 3rd.
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Place – Relatively easy chance of winning since your horse must finish either 1st or 2nd.
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Win – A normal chance of winning since your horse must finish 1st.
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Quinella – A normal chance of winning since your horses must finish 1st or 2nd.
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Exacta – A low chance of winning since your horses must finish in exactly 1st or 2nd.
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Trifecta – An even lower chance of winning since your horses must finish in the exact order of 1st, 2nd, or 3rd.
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Superfecta – Lowest chance of winning since your horses must finish in the exact order of 1st, 2nd, 3rd, or 4th.
Research The Horses
A good horse bettor never places a bet without knowing as much they can about the horse they are betting on. This is something that you can do to dramatically increase your chances of winning, and information about horses can usually be found quite easily online.
Things that you should look for are what breed of horse it is, how old it is, how much experience it has, how many races it has won, and more. Some bettors even go as far as to research the jockey riding the horse.
Research The Race
After you have researched the horses you want to bet on, you should make sure to find out as much as you can about the race, and more particularly, the track where the race will take place. The track is very important since different horses do well on different surfaces and in different races.
For example, you might have a horse that does very well on one specific surface and in one specific race but doesn’t fare very well in another. Knowing this will help you to place a more informative bet, and avoid losing money unnecessarily.
Bet On Different Races
Betting on different races isn’t a new strategy, and is used by almost every professional horse bettor in the world. The reasoning is quite simple and comes down to probability; the more races you bet on, the higher your chances of winning.
If you are only betting on one race when visiting the tracks, or even online, you are lowering your odds of winning. It is also a good idea to do this since it is a great way to learn.
Compare Odds
Finally, you should always shop the odds, and what is meant by this is that there are many sites online that offer to bet on horses. Each of these sites has different odds for the races, so you should compare the odds of races from as many sites as possible.
This is similar to betting on different races; one site might have a list of races but the odds aren’t that great, whereas another site might have odds that are in your favor.
