Looking for ways to boost your chances of making money from horse racing. (photo credit: © Cheryl Quigley | Dreamstime.com)
Horse racing is one of the most popular sports for people to follow around the planet. In just the US alone, it is a $100bn industry with millions of fans and over 1 million Americans employed in the industry. Of course, for many people, one of the real appeals of horse racing is being able to bet on the runners and races. This not only makes the whole experience of race day more exciting but also provides a way to make some extra money.
However, making money from backing horses is not as simple as it would at first seem. After all, if it were, then more people would back horses professionally for a living! The good news for any punters though is that there are ways to boost your chances of making money overall from sports betting on horses.
Here are a few of the best tips around to help you win more and make more money from horse racing.
Study form
Probably the best way to increase your chances of winning and making money on the horses is to simply do your research. Blindly picking horses to back based on the name or what color silks the jockey is wearing is not advised. Instead, you should have a look at the racecard and see what form each horse is in. If they have finished last in each of their last five races, can you be sure that this will not happen again? As well as form, you should also look at the class of the race, what the going is, and also the distance. All of these will affect how a horse runs and should inform your betting.
Choose how you place your bets wisely
Gambling on horse racing is legal in many US states and many people simply use on-track bookmakers to place their bets. While this does have some advantages, the recent moves towards legalizing online sports betting in the US could provide a better alternative. Already, states such as New Jersey and Pennsylvania have seen online sports betting legalized with online bookmakers allowed to operate there. Generally, these online sportsbooks not only offer better odds but also Welcome Bonuses to give you more money for betting. If you live somewhere that has made it legal to place bets online for horse racing, then this can be a great way to make more money in the long term. From PA online casinos to others around the US, it is certainly worth knowing about.
Consider a subscription service
If studying form is simply too boring for you, you do not have the time, or you do not understand it well enough to make it work, then a subscription service may be for you. This is basically where you sign up with a professional tipster and pay them a monthly fee for them sending you through horse racing tips each day. Just be very careful who you sign up with – there are many, many horse racing tipster services about now, so make sure that you pick a reputable one. If you choose a good one though, it can be an easy way to earn more from betting on horses. Some expert tipsters will even give out free betting tips on their website!
Don’t always back the favorite
Many people lose money with horse racing by always backing the favorite. The problem is that favorites do not win enough at the odds you will get to make it profitable. To make more money from betting, only back the favorite if you feel that they really are the best horse in the race. Remember, a horse is not always the favorite because he is the best – a lot of the time, it is just because he has had the most money put on him.
Consider different markets
A great tip to help make more money from backing horses is to consider other markets than the “Win” one. Each-way is a great example of this, as is backing a horse to Place. Both mean that you can still make money, even if your horse does not come first. Although the odds you get will be lower, you should win more regularly to make more money in the long term.
Increase your chances of winning overall
If you like to follow horse racing and bet on it regularly, then you will always be looking for ways to make more money. Of course, the best way to do this is to find ways of increasing your chances of winning bets and making more money when you do. Hopefully, the above tips have given you some great ideas on how to do just that and make your horse racing betting more profitable.
