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Horse Racing Basics
The main object of betting on horses is to beat the 'Oddsmakers' or the 'Odds
Compilers' and win some money. Additionally, placing a bet on your favorite
event makes the race exciting and more enjoyable.
Betting is done through Sports books or Sportsbooks (US) and Bookmakers (UK)
entities that accept bets. You can bet on the outcome of horse races and several
sporting events.
To place a bet, you go to a sportsbook, physical or online. You could also
bet over the phone with many sportsbooks. Note that a sportsbook is not the
same as an oddsmaker. The sports book simply accepts sports bets. An oddsmaker
is a person who sets the betting odds.
You need to state what you are betting on by making a selection, the type
of bet and the amount you are wagering. Your selection will obviously depend
on the odds offered, so you will want to examine the range of odds available
before you make a decision.
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Establish your bank. Your bank should not exceed an amount you are comfortable
with.
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Decide what percentage of your bank you are willing to bet with on any particular
race. Keep with that figure. One to two percent is a reasonable amount.
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In your initial impressions of a given race, try to
determine whether the favorite is "solid", "vulnerable" or "false".
Don't waste time on races where the favorite looks tough to beat. Three
to five races is a good number if concentrating on only one meeting, but
this
number can go up or down based on the total opportunities available.
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Using whatever handicapping methods you prefer, establish the order of preference
for your selections. Decide what odds you will accept to help you with your
selections. If you get value, back 2 or more horses in the race to win.
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Know how the race will be run. If you can't get a clear picture of what's
going to happen beforehand, you probably don't have a good idea on which
horses to bet on.
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Plan your day. Eliminate the poor races and determine a strategy with potential
win bets, singles, exotic wagers, etc. In other words, have an idea of what
you are going to do before you go to the track.
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Once you're in the middle of the betting, stick to your strategy. Let you
and you alone determine your final decisions . not the guy at the bar who
heard from his trainer that such-and-such a trainer really likes his horse
in the 5th. It's your money and you should win or lose based on your own
decisions.
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Don't press when you lose or increase your wagers when you win. Protect
your bankroll and don't be overly aggressive. Remember that tomorrow will
bring more opportunities. Winning or losing on one individual day really
doesn't mean a thing. The long term is all that matters.
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Remain flexible enough to change your thinking if evidence calls for it.
Perhaps a strong bias has appeared. Maybe your top selection is grossly over
bet. Be prepared to move on to your second or third choices if that's where
the 'value' is. If your top choice is simply 'over bet' in the win pool and
you have no strong secondary options, look for ways to exploit the short-priced
horse in the exotics.
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Have fun. Keep your composure and keep your sense of humour. Both are weapons
that can help you overcome adversity and succeed at a game that is difficult,
but not impossible, to beat.
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For more information on sports bettings click here
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