A beginner’s guide on horse betting
Horse betting has been a popular pastime around the world almost for as long as horses could run. There’s nothing quite as exciting as watching the horses run down the backstretch as your horse goes for a last-minute win. Winning and losing bettors screaming, jockeys jockeying, and money changing hands — truly exhilarating. You can then see a boost in your bankroll, or if you’re at a racetrack or bookie, proudly stroll to the cage and get your money.
If you’ve always wanted to get in on some horse betting action, but could never tell where to start, then you’ve come to the right place. Even if you’re a seasoned punter who’s looking to polish up their track knowledge, you’ll glean a piece or two of wisdom from this guide. Horse betting is an extremely broad topic, so we’ll cover the basic strategies and bet types in simple terms.
Best places to bet on horses
In the earlier days of horse betting, you had to physically go to the race track to watch races and place your bets. While it was an excellent way to soak up the adrenaline and culture of horse betting, betting at the track can be rather limiting. Today, you can bet on races from pretty much any track in the world online. You can also watch the races directly from the betting sites.
Thanks to the growing speed of internet services, and with the spread of smartphone apps, more and more bookmakers offer the possibility to bet live. Just rely on secure sites like those on bet.xyz which provides updated reviews. Live horse betting allows you to place your bets, even when the race has already started. But even with the best online betting site and odds on your side, picking the winning horse is not a matter of luck. Here’s what you can do to start on the right foot.
Do your homework
Most bettors don’t research enough about a race before they place their wagers. Even poring through the racing program, without using any other external sources can raise your chances of winning. The racing form will not tell you which horse will win, but it’ll provide you with the next best thing. You can look back at the history of your chosen horse, as well as its owner, trainer, and racing pedigree. While the odds will closely reflect each horse’s chances of winning, you’ll be surprised at how many excellent contenders you’ll uncover by just doing a bit of research. Most national news websites and gambling sites regularly publish gambling tips with in-depth analyses of horses, races, and jockeys.
Know your bets
After you find the best website to bet with, as well as you think is the next winning horse, it’s now time to place your bet. But to do so, you have to understand and play your bets well. If you’re backing a horse that has 5/1 odds for the win, it means that for every £1 you bet, you would get £5 as winnings, as well as your stake back. However, you can also back your horse to be in the top three. Of course, your winnings will be much less if it ends up winning the race.
An each-way bet essentially enables you to win if either of the above two outcomes occurs. It’s effectively placing two bets on the same ticket. Other bets that you can place include reverse and straight forecast bets. In a straight forecast bet, you’ll be predicting the first two horses in their order. In the reverse forecast bet, the order in which the two horses cross the finish line won’t matter.
Once you get comfortable with the simpler types of bets, you can move on to more advanced types. These are usually much more difficult to predict correctly but offer a higher payout. For example, in a tricast bet, you’d need to predict the exact order in which the top three horses will cross the finish line. With double and treble bets, you’d be betting on two or three horses in separate races. The combinations and opportunities are virtually limitless.
Keep records
As you start on your horse betting journey, one of the best ways you can guarantee improved results is to keep detailed records of all your bets. You should be as detailed as possible, as record things like dates, bet types and sizes, losses and wins, as well as how you came towards your betting decisions. Over time, you’ll begin to see what works and what doesn’t. You’ll also be able to go through bad breaks without losing your head and blowing your bankroll.
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