In the United States, horse racing ranks as the third most popular sport where bets are made, even if not too many people watch it. This is true for several other countries in the world as well. This article tackles some of the best ways on how you will be able to improve your horse racing betting strategy and generate a decent return from your wager.
Choose the Right Sportsbook
One of the primary ways to improve your horse racing betting strategy is to choose the right sportsbook. In the past, you needed to call or talk to a sportsbook representative in person for you to be able to place your bets. In this modern-day and age though, you can simply place your bets online.
However, you need to be selective of the online bookie that you engage with. When you explore online sources, you may come across this review by observer.com about some of the most viable online sportsbooks that you can leverage to place your wagers. At the very least, make sure that the online bookie is trustworthy, which means that they honor the wagers placed and provide payouts at a reasonable speed. They should also be able to handle their bettors’ funds and personal information securely.
Another thing that you can do in parallel to choosing the right sportsbook is to do your homework and research. Before you delve into horse racing betting, make sure that you are familiar with the basic jargon involved in it. Aside from this, you also need to carefully scrutinize the racing program because this will already improve your betting strategy significantly.
In this case, you can refer to racing forms or form guides that provide all the information you need about the race, as well as the horses that are competing. While it will not directly indicate which horse will most likely win the race, it will help you make a more informed decision later on when it comes to which horse to bet on. Usually, the time and location of the race, along with the distance of the course is listed on top of the racing form. The rest of the form guide is all about the horses competing, which are organized by the number that they will wear during the race.
Explore Different Kinds of Bets
Alongside research and studying form guides, you should also take the time to explore different kinds of bets. Most people just bet on the horse that they think will win the race, or what is commonly referred to as the universal wager. However, there are several other betting strategies aside from this common one. To take your horse betting strategy to the next level, you need to incorporate different types of bets, which can vary depending on the country where you are.
Multiple Horse Bets
Aside from the universal wager, you can also delve into multiple horse bets, or betting on several horses in a single race. While it may prove to be quite challenging to win, the payout will often be higher with this betting type. In this case, you can make an exacta bet or a quinella. When it comes to an exacta bet, you are to place your wager on the horses that you think will place first and second. A quinella also entails the need for you to guess the top two places, but you don’t have to get the right order for you to win.
Multiple Race Bets
Apart from betting on multiple horses, you can also bet on several horse races at a time. The great thing about this betting type is that you get the opportunity to garner higher payouts, without having to spend so much. Just keep in mind that the risk with this betting type is also higher. Betting on multiple races is quite similar to the universal wager wherein you will bet on the horse that you think will win, only that you do that on a couple of races or more.
Shop the Odds
To significantly improve your horse racing betting strategy, you should also take the time to shop the odds. In this way, you will be able to increase your overall payout. Shopping the odds usually happen after you have chosen the horse or horses that you want to place your bet on. The process includes checking out various bookies and going for the one that offers the best option that can provide you with the highest probability of winning. In this case, you need to remember what you have learned in choosing the right sportsbook.
While shopping the odds may not seem to have a big impact on your bets initially, you will be able to realize its worth after you make a few regular bets. In this case, the extra bucks you make on each bet will tend to add up quickly. Thus, taking a few extra minutes to perform a quick search to shop the odds is worth your time.
Properly Handle your Bankroll
Finally, make sure that you manage your bankroll because this works hand in hand with the betting strategies that you make in horse racing. This means that you should only bet with the money that you can afford to lose. Make a budget and control your cash flow to ensure that you don’t get to use the money that you need for the other financial aspects of your life such as your daily necessities or utilities. As much as possible, use a separate bank account for the money that you will use in betting.
When it comes to betting in horse racing, engage only with trustworthy sportsbooks and research relevant information for you to increase your knowledge in this area. From there, you will be able to explore different kinds of bets or even shop the odds with confidence. Just keep in mind to always properly handle your bankroll and only bet with the money that you can afford to lose. All these are geared towards ensuring that your horse racing betting strategy is enhanced to yield more favorable results.