Horse racing is perhaps the most popular sport to bet on, even more so than football. If you are new to betting on horses then you may be confused by it all and not know
Horse racing is perhaps the most popular sport to bet on, even more so than football. If you are new to betting on horses then you may be confused by it all and not know where to start. Luckily, we are here to give you a helping hand to clear up all the confusion and get you started on this popular sport! With our tips, you will learn how to make your bankroll go further!
This will be a two-part guide. Click here to find part 2 of this guide.
- When you are starting out, stick to lower increments, especially if you are on a tighter budget. Don’t just bet £5 or £10 per race, because your bankroll will disappear fast! Just start off with £2 per race whilst you are learning the ropes and becoming more familar with how horse race betting is structured. Once you become more familar with it all, then you can think about increasing your stakes.
- Favourites of course offer lower odds and therefore lower winnings, but you should never dismiss them because of this. Statisically-speaking, favourites win the majority of their races (approximately 30% to be precise), and if you are looking to build your bankroll quicker, don’t be afraid to bet on a few favourites. That being said, don’t always bet on the favourite, do you research on the horses beforehand.
- Odds are subject to change at any given time and they do change quite often to reflect the context of the race. Perhaps a horse drops out or a previous favourite doesn’t look as appealing as it did. You are much better off placing your bet closer to the time when the race starts because the odds reflect closer to the reality of the race. You can of course place your bet several hours before the race and hope that the horse turns out better than expect but you will be taking bigger and unnecessary risks. Betting closer to the time of the race will help you to remain consistent and minimise your risk
- Consider betting on the each way market. Not only can you bet on a horse to win the race, you can also bet on that horse to be a runner up. This is a kind of insurance because horse racing is a very unpredictable sport. Although payouts in each way markets are not as high as win markets, you can still win some money or even minimise any losses you may incur. You can read more about the each way betting here.
- Always calculate your potential winnings beforehand. Most bookmakers state the potential winnings including your stake. You should know what your potential winnings are minus your stake to get an accurate idea of how much you can win. Know this figure will give you a better idea of whether the odds justify the bet.
- Get to know the horses and the trainers. Most bookmakers will list the names of the trainers as well as the horses. A simple Google search of the trainers and horses can give you all the information you need to know about them, including their performance history and form. Also it pays to check out the Racing Post and Timeform
- Be patient. Horse racing is very complex and has a very steep learning curve. Be patient and take your time to learn as much as you can through research and experience. It takes time to learn how to make the smart bets
These are the basics that you have to bear mind when you are placing your bets. We shall continue with this in part 2.