Horse racing is one of those things most people tend to either love or hate. There’s very little middle-ground here, as those who are interested in the sport often turn into fanatics.
When it comes to betting on horse racing, it’s certainly something that only those who follow the sport consistently can do with any degree of confidence. After all, it’s not hard to lose a great deal of money in a short period of time if you’re careless with your betting and don’t work to improve your odds. Yet, many people don’t know where to start when it comes to bettering their chances.
For both those who are new to horse racing and those who have been betting for years, it’s important to take to the time to think about ways in which you can build better chances for yourself. By taking a close look at how you approach betting on horses at the moment, you might be able to glean tidbits of knowledge and strategy that could add to more winnings.
Do a Thorough Analysis on Your Horse
There’s no getting around the importance of paying attention to statistics when it comes to betting on horse racing. Without knowing exactly how a horse has performed in the past, it’s next to impossible to come upon a strategy that will actually pay off.
Fortunately, all you need to do is keep a keen eye on this information, and you can use technology to help make this easier. Specialized software can help you to not only stay on top of handicaps and statistics, but also to better predict the outcome of a race. It certainly requires you to invest some time, but the end result is that you won’t be going into a race with blind eyes. Look into Thoroughbred Analytics for more information on this kind of handicapping software.
Beginners Should Bet the “Chalk” Horse
The horse that is favoured in a race is referred to as the “chalk.” While it may seem like the easy way out to always bet the favourite, this is a strategy that can be helpful to those who are new to horse racing and want to learn more about the sport before making riskier bets. On average, those who bet the chalk horse have a 1 in 3 (or 33%) chance of winning – certainly not the worst of odds.
As you become more experienced, there are certainly scenarios in which you should bet on horses that are not favoured. You’ll not only be able to pull in more winnings this way, but will gain a better understanding of horse racing as a whole.
Don’t Go Big
Depending upon the situation, you’ll likely have the option to either bet small or large. A lot of people who feel as if they really have a handle on a race make the mistake of making huge bets, which can – of course – pay off in some circumstances. But more often than not, this scenario ends up causing major losses, especially for those who make these mistakes on a regular basis.
Betting small, on the other hand, will allow you to minimize your losses and, in turn, gain more experience at the track. The more you play, the more likely it is that you’ll improve and start winning money consistently. Keep your bets small in any scenario outside of what you might consider to be a sure thing, and remain careful even then.
Horse racing is a fun and exciting way to bring in a little extra money. Bet carefully, and be sure to enjoy yourself at the track!