If you’re looking to try out horse race betting for the first time, you’re not the only one. Horse race spending has continued to increase at near-record levels in the US, with many other countries following suit.
Part of this is due to laws around betting on horse races becoming a lot more relaxed in recent years.
Another factor has been the rise of online betting platforms that allow anyone to make bespoke wagers on international races, down to the tiniest detail.
Whatever your reason for trying it out, you probably want to make some money. If so, here are our essential tips on how to bet on horse races, the right way.
1. Choose Your Odds Wisely
The odds tell you how likely a horse is to win, according to the bookmaker.They also tell you exactly how much you stand to win on a successful wager. Crucially, all sports books offer different odds on the exact same horses.
It is your job to find a platform that offers competitive odds with minimal commissions. This way, you can maximize your potential winnings every time.
For example, the Citibet platform offers competitive odds on a wide range of international racing fixtures, including live, in-race betting. By shopping around for the best betting platform, you can find odds that offer the best value.
2. Try Different Horse Race Betting Wagers
Did you know there is more than one way to bet on a horse race? Oftentimes, placing a single bet on the outright winner is the least effective way to make money. The odds are simply too long to be worth it.
Instead, you can try building a more inclusive wager that accounts for multiple outcomes. For example, you can usually bet on the first, second, and third place, winning if any one of these comes to pass.
You can also run a parlay bet on multiple successive outcomes, with massive payouts to those who are successful. Meanwhile, you can also place a bet across multiple races, increasing your chances for a payout.
3. Practice Bankroll Management
The art of betting requires strict bankroll management. This term describes the strategies you can use to make your money go further and avoid making avoidable mistakes.
First off, this means separating your betting money from the rest of your money. You should never, ever bet money that you are not 100% comfortable with losing.
This trick will stop you from getting emotional and making rash betting decisions. Set strict limits on your wagers and never exceed them for any reason.
Always exercise player control and step away from the sports book if you are no longer having fun. This will keep you in better control of your money, allowing for a more controlled wagering strategy.
Stay on Top of the Races
When it comes to horse race betting, knowledge is power. These betting tips will help keep you in control and allow you to build a profit-focused strategy.
Another crucial tip is to always stay informed on the best horses and the top races. For this, we have got you covered.
In our dedicated Sports section, you can find news on the races, games, and matches that matter to you.