Horse racing is known to be among the oldest sports that bettors love to wager on. Due to how long it has existed, many bettors on different levels of skills have their own established strategies that can help them increase their chances of winning.
Horse race betting offers something to anyone, whether you are a seasoned bettor or someone who is still testing the waters. There is always something new that is worth learning about, especially when it comes to strategies.
If you are a fan of horse race betting, you should also establish your own strategy that suits your needs best. Here are five strategies you might want to check out and incorporate into your way of betting to increase your chance of winning.
Research the Horses
Aside from knowing the betting terms with the help of this tvg guide to horse betting language, studying each contender in a horse race is a must. Doing so will significantly increase your chance of winning a bet. With proper research, you can figure out who will likely win the race first.
When doing your research about a horse, you should study the following:
Additionally, you should also determine a horse’s performance. Go through their previous races and see how they perform and who they were up against. You can also learn to judge horse pace to help you figure out who amongst the contenders will perform well in their races.
Use the Dutching System
Dutching, also known as Dutch betting, refers to the wagering strategy of supporting multiple outcomes in one race rather than just one. The dutching system is the most profitable strategy you can use in horse race betting.
This strategy is best for bettors who are more mathematically inclined. So, if you hate math as most people do, you might want to sit out this option. Instead, the dutching system offers an outline where you will cash out the same amount of money when you bet on a variety of horses, no matter the outcome or whoever the winner will be.
This system’s outcome could involve some computations that are required to be successful in this system. They may appear challenging to understand, but they are relatively simple, and you can also utilize some online sites to assist you in developing the answer.
If the dutching system is too much for your brain power to handle, there is an easy way to do it by using an online bet calculator. When using a bet calculator, you should input the total amount you wish to stake and the betting odds for each of your choices. The recommended stake for each bet and the potential profit will be updated frequently in real-time.
The Dutch betting starts by looking for a race with many contenders, ideally more than ten. You will then have to choose two out of the three top-ranked horses with the best odds. After that, you can then calculate the assumed probabilities based on the supplied odds.
Diversify Your Bets
Most punters, particularly beginners, prefer to place straight bets on either win, place, or show because they are the most straightforward bet types. However, if you want to maximize your profits, diversify your bets.
Other than straight bets, other bets are available for you to choose from in a horse race. These other types of bets can increase your payout effectively. You can experiment a little bit and try each of these bets to see which one works for you best. Study each betting type and practice. Start with smaller bets until you get the hang of it.
The only disadvantage of having variations of bets is the risk involved. This strategy will require more skills and is harder to win. However, if you did win, all risks will be repaid generously. So, you should start learning about other bets in horse racing and incorporate them into your betting strategies.
Shop Around for Odds From Various Sportsbooks
One of the basics of smart betting is to shop around odds. It doesn’t require tools or proficient skills to complete. By doing this strategy, you can increase your potential payouts as per your chosen sportsbook. However, shopping for odds will only work for fixed odds.
Once you’ve decided on a horse to place your bet on, start looking for odds. Compare the odds offered by different sportsbooks and choose the best odds of winning and the highest payout.
Embark on Betting Exchanges
Betting exchanges differ from traditional sportsbooks. The former allows bettors to wager directly against one another and set their own odds. This implies that every bet placed on an exchange involves two types of bettors.
The first bettor is the one who puts the ‘back’ bet. Backing a wager on an exchange is similar to betting on a traditional bookie. What you will need to do is to select an outcome and determine a stake.
The second and most important type of bettor in this method is the one who ‘lays’ a wager. In simple terms, laying a bet means that you will bet against the race’s outcome. The stake is high as you will be betting on the contrary.
You can do many things to increase your chance of winning a bet on a horse race. Simply study each strategy mentioned above, try out those that spark your interest the most, and see how it changes your probability of winning a bet.