Horse race betting is a popular form of sports betting known to many people around the world. On a daily basis, there’s an influx of people placing bets on horses. Although there is widespread interest in horse betting, the fact remains that many of these gamblers lose the better part of their earnings due to bad bets. However, these heavy losses can often be avoided because they’re largely due to people’s lack of understanding when it comes to different terminologies and bet types in horse racing.
Make sure that this doesn’t happen to you! Read on to find out 10 things you didn’t know about horse betting – they’ll come in handy the next time you’re betting on a horse race.
There Are Different Types of Horse Races
When opting to bet on a horse race, it is important to know that there are different kinds of horse races, different lengths of horse races, and different categories of horses themselves. These differences range from flat races to hurdles, to steeplechases, to harness racing. For horses who have yet to win a race, these can be called maiden races; for horses that have won just one race, they’re called novice races. It’s called a graduation race for two time winners, progress race which is a slight variation on graduation races, a handicap race in which horses carry different amounts of weight to compensate and give them equal chances to win, and a juvenile race for horses that are two years old.
The Effect of the Draw
One major factor in the outcome of a horse race is the draw. A poor draw, as well as a good draw, can drastically affect whether the outcome is a win or a loss. It’s important to find out how often horses win draws at all tracks in order to determine what effect the draw will have on the outcome of the match. A wide draw is largely disadvantageous when a horse race rounds a bend, or when a horse races from behind. Irrespective of these, at some point certain draws give higher percentage than others, on some tracks and across some distances.
The Favorite Doesn’t Always Win
There are many horse racing punters who are scared to lose their investments or cannot afford to take much of a risk, and they can often find it very difficult to ignore the odds bookies fix. However, these favorites don’t always win, which is why it’s better to pay attention to the jockey himself and avoid being swept along by the general view. Sometimes a good, young rider with a strong pace is a far better option than the one considered to be the best or the mainstream favorite. Plus, there’s always an added benefit when you can identify a promising but unknown horse before others.
Odds-on Prices Can Be Deceiving
Don’t be deceived by odds-on selections. It basically decreases your chances of winning and exposes you to more risk than is beneficial. Picking odds based on popularity may seem like a good idea on the surface, but that’s not always the case in reality, as the outcome might be negative.
The better method would be to find out more about any up and coming horse riders who have a much more attractive and favorable draw, then bet on them at a higher price.
Betting with Bookmakers Pays the Most
In contrast with putting money on a Tote bet, when you bet with the bookmakers, you know just where your stand after making your bet. With bookmakers, you have a fixed return on your bet upon winning, as the odds given by bookmakers reflect the possibility of your winning. When betting on horse racing, you must look out for value. The bookmakers always add a certain percentage, turning what would have been a 100% profit margin into a 120% profit margin. A horse racing guide can help you decide how many horses you think can win the horse race, and also estimate their possibility of winning, which is a good way to determine value.
Avoid Impulse Betting
For those horse race betters who have established their personal favorites, there’s the tendency to feel confident and assured that they can guess the outcomes, which means they are exposed to large risk if they end up acting on a sudden gut reaction. When it comes to horse betting, betting solely on impulse is a bad habit you should try to do away with. Bookies love impulsive bets as they make a significant amount of money from negative outcomes.
The Track Condition
Also referred to as the going or track rating, the track condition refers to the state of the track surface before a race.
The track condition is an often forgotten factor in horse racing that has a lot of influence on a horse’s performance. For some horses, the going is less of an issue, while for others, it can have a significant impact. This largely affects time and the outcome of the draw, so when you’re betting on horse racing, consider the possible effects that the going may have, just as much as you consider the factor of weight.
Time and Time Value
Like the handicap rating, timing measures the time value of a horse’s performance. Time value shouldn’t be read alone. It should be taken into consideration along with other factors like the track condition, weather conditions, and surface conditions. The ages of the horses and the weight they carry are also vital.
Observing all of the features of a horse is essential in horse race betting. How do you know if a horse is fit or unfit? Profuse sweating, a dull coat, dull behavior, and a shabby belly are important signs indicating that a horse may be unfit to race. Tracing a horse back to the last time it raced and how many times it has raced within that period is the best way to measure its level of fitness.
Blinkers are the headgear won by horses that partially hinder their sight. This allows the horses to concentrate and not get distracted by other horses while racing. Blinkers come in different sizes, and some are shaped in such a way that they offer a wider field of vision. Some horses respond well to blinkers and others don’t, so it’s an added advantage to know the effect that blinkers have on certain horses.
Take advantage of these 10 tips to gain insight on horse betting – they’ll help you make the smartest and most profitable horse race bets in the future.