Horse racing has been one of the oldest and most popular sports to exist. It is mainly enjoyed not because of the thrill of watching the horses on the racetrack, but rather for the thrill of betting on who wins. Chances are that now most of the spectators and viewers of the sport are those who have bet on some odds in the race.
Since the races themselves are quite unpredictable, it can be challenging for betters to make the right choices. However, there are some tips and strategies they can use to increase their chances of earning profits and. Let’s take a look at what these are.
Prerequisites to Horse Racing Betting
1- Find the Right Value Price for Your Racers
This mostly comes from experience, but it is essential that you be mindful of the actual betting value of each racer. If you place the value too low, you might risk taking too many ‘unders’ and bet on lower odds. This can increase your chances of ultimately losing the bet. Moreover, the main point of betting should be to find a bet that has value on it and not one that’s an easy win.
2- Try Not To Stick to The Same Racer
This is quite an easy thing to do; bettors tend to consistently place bets on racers who have a poor win/loss ratio. It’s likely that the same horse will not win every single race. Thus it’s better to pick and choose the racer based on the race and competitors, rather than simply on the racer itself.
3- Follow Betting Movement
An excellent strategy is to follow the betting movement and race trends to identify better which racer has superior odds. This will help you to put more value in your bets as well. Again, doing this would require some experience as you will have to intently watch each race to see when a certain horse is prospering or failing. Doing so will equip you to predict each trend better and make smarter bets on horse racing.
4- Know Your Bet Type
After placing multiple bets, you might be able to recognize what your superior bet type is that will yield you the most profit. This can be an exotic race or a smaller race. Each better has a bet type that aligns with their strategy. A key aspect of winning is identifying where there is value rather than where there are consistent wins.
5- Make a Strategy and Stick With It
Keeping a strategy and sticking with it is extremely important when it comes to placing bets on horse racing. You don’t necessarily need to place bets on the same amount every time. Knowing when to increase or decrease your bet size is where you can maximize your profits.
6- Analyze the Horses to Improve Your Bets
There is no set way of assurance on which horse will win the race. The entire game is too unpredictable, and there are numerous unknowns. All you can do is make an accurate estimate of the winning horse to the best of your abilities. Some of the factors you can observe to analyze whether a horse is a winning one or not are:
- The form of the horse
- Form of the trainer
- Form of the jockey
- Distance record
- Weight carried
- Course record
Putting It All Together
These were some of the strategies one can follow in order to maximize profits. However, it is essential to note that horse racing is an entirely unpredictable game, and the outcome can never be sure. All one can do is make estimates based on experience, observation, and intuition. Moreover, another vital factor to consider is that betting does not involve deciding which horse is most likely to win, but rather which one holds the most value.
These were some of the prerequisites of horse racing one should be aware of before placing their bets on the races. If you want to put into practice your betting strategies, you can place your bets on Australia’s biggest and most trustworthy online betting service, Palmerbet. With over thirty years of experience and a plethora of betting markets not just within Australia but internationally, you are likely to make the most out of your bets.