Horse racing is considered the third most popular sport to bet on in the United States. But the sport is not anticipated by the thrill of the race itself; sports enthusiasts watch it to place bets! Most, if not all, places a wager on every race. Some care for the outcome, while some do it for entertainment. If you’re one to take the betting seriously, you are in the perfect place.
In horse racing betting markets, punters go through great lengths in planning and developing strategies to get to the better side of bookies. And if these strategies are used well, it can help increase your overall payout over time.
But having a comprehensive plan can’t always guarantee you a win. So it is of utmost importance that you gamble responsibly. Only take the risk if your budget is prepared to face losses. Here is a list of critical strategies for you to become a successful horse racing punter.
Bet With Discipline
If you are determined to make a profit from gambling on horse racing, you need to remain disciplined at all times. You need to take your methods and the amount at stake very seriously. It is a recurring theme among punters to chase after their losses. If you are caught up in that vicious cycle, you need to stop.
That is why it is crucial to assign a designated bankroll only for horse racing; an amount you don’t mind losing. As it is inevitable to face losses, keep in mind never to touch the other areas of your weekly budget. Monitor the race with the help of TVG’s 2021 odds for you to know what to expect with your finances when betting.
Even after considering the possibility of a losing streak, the amount you are much willing to risk is your bankroll. Placing your bankroll in several accounts may lessen the likelihood of you spending more than you intend to. Bookmakers take advantage of people who can’t control their bankrolls well by making cash transfers much more straightforward.
You can also manage your bankroll by deciding how much you are willing to risk for every stake. Each stake must only take 3% of your bankroll so that you can freely adjust your stakes depending on your confidence level. If you set aside a fixed bankroll ahead of time, you’ll be more likely to resist reactively betting for higher amounts.
Backing Multiple Runners
To maximize your profit and minimize any potential losses, backing multiple runners is a strategy you need to venture into. This strategy involves backing a single runner hard and having a “saver bet/s” on the sideline. You may back anywhere around two to three runners in each race you participate in.
To give you a clearer picture: if you want to stake $50 on a race, you may place $3 on the runner you fancy the most. Then place $7 on both of the runners you consider as “damages.” This situation will allow you to have a decent profit if runner 1 wins and get most of your $50 stake if either of the two “damages” wins.
This way, you can minimize losses and, in return, gives you better chances of sustaining a healthier bankroll. Remember that it is better sometimes to sacrifice a small portion of your winnings to maximize profit.
Shop for Odds
To increase your overall profit, shopping for odds is the simplest way to achieve it. This strategy is best when participating in fixed odds so you can get the best value for your money. But if you are participating in pari-mutuel betting, shopping for odds won’t work at all because you can’t determine the pool size.
You might not see much of a difference when shopping for odds for the first time. You may only get a few bucks on every bet. But it would be best if you were patient. Just bet regularly, and you’ll notice those extra amounts adding up so quickly.
Look for reputable sites and compare the odds. You’ll eventually see a pattern there. Go with the one who offers a higher reward. Online sportsbooks make money out of your losses, so gathering rewards is one of the easiest ways to get your money back.
Monitor the Market
You need to monitor the market closely. You can trust that the market is often right. You may look for credible websites that show which runners are being supported in the market. Look out for the horse that has a good backing before the race; this is a good indicator that it will run on the track very well.
The race may not be as thrilling as it looks, but the betting on it sure is. If you aim to elevate your gambling game, the strategies mentioned above can sure help your resolve. The list may overwhelm you at first, but once you get the hang of it, you’ll be unstoppable in no time.
-In Collaboration with businesswire.com