Although, horse racing and betting happens to be one of the most favorite and preferred sports amongst people all over the world, not many are aware about the procedures on how to bet on horse racing in a correct and appropriate manner. The fact is, high percentage of people experience adrenaline rush in horse racing not due to the thrill attached to the sport, but due to reasons of getting to bet and earn money.
One would hardly find a person, present in the racing arena, who is there with the sole purpose of watching the horses’ race by. Almost each and every one is at the horse race for waging bets and earning the jackpot. However, not everyone is fortunate enough, to have the lady luck smiling on them. As compared to first timers and amateur horse bettors, it is professional horse bettors with enough experience, who find a boost in their winning odds.
The following article will help in guiding horse race betting enthusiasts, especially novices, on what are the correct methods to practice in horse race betting and some of the common mistakes which are best avoided.
While, thousands and thousands of horse racing enthusiasts gather at the racing arena and lay their bets, there are very few amongst who come prepared with their homework done well. The truth is, even a cursory glance on the racing program, can go a long way in increasing your chances of winning. There are various racing forms and guides which provide detailed information about the race and the history of participating horses. The forms and guides, although will not pin point about the horse you need to wager your bet, they will certainly offer sufficient information and guidelines, to help you make an informed decision.
Incorporate in different types of bets
One of the most common practices witnessed in horse betting is, people tend to take the regular route of placing bets on the horses they feel have a fair chances of winning, rather than experimenting. However, there are various types of horse racing bets available, which people can use in a strategic manner and increase their winning chances.
The rules and systems of waging bets on horse racing vary from state to state and region to region. The systems are used for calculating payouts for each type of bets. The three primary betting systems used in horse racing are as mentioned below:
. Fixed odds betting
Herein the bettors are required to wager bets with the bookmaker who has pre-decided the betting odds. The payout for the winners is decided based on the amount they have staked multiplied by the odds established by the bookmaker. Depending on the country to country the winning odds are expressed as decimals or fractions. In some of the cases, the odds remain unknown, until the race starts and the bets are in.
. Multiple Horse Bets
Betting on multiple horses in the same race is another ideal option for increasing your winning odds. Any person, who has done his homework and research well and is confident about his selections, will surely witness higher payouts at the end of the day.
Manage Your Bankroll
Prior to waging bets on horses, deciding and setting aside a budget, is an essential requisite and of vital importance. One cannot just go ahead and wager their bets sans considering their financial restrictions. Similar to setting aside a fixed budget for purchasing monthly groceries, payment of utility bills and dining outside, there needs to be a fixed budget for waging bets on horse racing too. This, in turn, will help you take an easy and confirmed decision as to how much risk you are eligible to take.
Similar to other ventures, betting on horse racing also needs to be viewed as one of the business ventures, which helps in increasing your winning chances. One need to keep a record of each and every bet and the amount lost or won.