As with other aspects of life, it pays to do your research before jumping in, and the same goes with betting. That way, you can approach things in a confident manner, all while making sure that you get the best experience possible.
Below, you’ll find what we believe are the top 4 tips for sharpening your horse racing betting strategy:
- Know your options
It’s important to do your due diligence before you jump in. At the very least, you should analyse the horses competing as well as the track itself and use the data gathered to shape your decision. Platforms like Sky Bet, for instance, will show you different statistics such as number of finishers, straight forecast, reverse forecast, winning distances, and similar. At the end of the day, it’s always better to base your bet on concrete facts rather than emotion.
- Spread out your bets
Rather than placing your entire paycheck on the outcome of a single race, it’s much better to spread out your bets and thereby reduce the overall risk. Of course, this also means taking on some more homework, but it’s a trade-off worth making. Besides, this is how you gain valuable experience. Furthermore, don’t forget about betting on different types of races such as flat racing, jump racing, harness racing, quarter horse racing, and so forth.
- Control your bankroll
It may be tempting to leverage your bets by playing around with the amount wagered, but any sane gambler will tell you to only risk what you can afford to lose. This is the first step to making rational decisions. In no circumstance should you risk not being able to cover your monthly rent payments or your ability to put food on the table. Also, please resist the urge to increase the size of your following bet if you lost the previous one to cover the difference – this can spiral out of control before you can say ‘bankrupt’.
As a general rule of thumb, no individual bet should cost you more than 3% of your entire bankroll, but there is some wiggle room, so feel free to pick any number between 1% and 5%. As your bankroll grows, you will adjust your bets accordingly and take it from there.
- Pay attention to details
When placing your bets, take a look at the big picture and not only what happened during the previous race. While historical data is important, a broader sample size tends to be a far more accurate indicator of who is the most likely candidate to win it. Moreover, bear in mind that some horses perform better on certain types of tracks than others, which is another detail to factor into your decision-making process.
In horse racing, everything matters; from the terrain, the horse’s lineage, and all the way to who’s riding it.
Conclusion
Horse racing remains one of the most popular sports in the UK. With the help of these tips (and a little bit of luck), may you make all the right decisions.
