Horse Betting

What’s a good bet for a beginner?

The top jockeys usually win. Since most people will bet on their favorite horse, following the jockeys can give you a slight edge.

But beginners don’t have very good information about the horses that they’re watching. All successful sports betting strategies are based on having better information than the average punter.

It might be good to start small. Placing small bets on horses that you like can make you feel like a part of the community while you learn.

How do you always win in horse racing?

You don’t always win. The best that you can do is win often enough to make profits. Winning often enough requires a lot of homework and is hard work.

Start following yearling sales, and get to know all of the top jockeys. Learn about trainers and their methods. And finally, know who the big owners are. 

You’re looking for information that will help you judge whether the morning line is going to reflect the racing outcomes or not. The morning line is based on bettor favorites, but might not always be based on accurate information.

Sometimes, bettors might like favorites because of emotional attachments rather than cold-hard logic. Look for situations where you might be able to get an edge.

First of all, do your homework before the races.

Betting on horses means that you need to know a lot more than the average public about the horses running that day. You need to put yourself in a good position to win based on the research you do.

Everyone can listen to the simulcast commentator so that information is well known. If you want to get an edge, you need to know a lot more about the jockeys, trainers, and horses than an average punter.

Beginners should at least know that the top ten jockeys win about 90% of the time. When in doubt, bet on the jockey instead of the horse.

Jockeys know a lot about the horses they’re riding, and they want to be on the winning horse. Since there’s also a lot of competition to get a top jockey, following them is a good strategy.

Favorite horses win about 33% of the time, but there might not be any money to be made. The payoffs are low because most gamblers look for good horses.

Farms often sell thoroughbreds when they are young. You can follow top thoroughbreds when they are yearlings and find out about their training. If you lack that information, at least know that jockeys and other horse people do know it.

The morning line has nothing to do with predicting the winner of the race. Instead, it’s all about predicting the bettor’s favorite horses. 

Don’t just bet on the winners. Think about the whole podium.

First-time bettors can feel overwhelmed with the number of options available for bettors at the racetrack. Remember, you don’t need to place all of the types of bets. You only need to win the bets you do place.

You can bet for wins, places, top-three finishes, and many other types of bets. The most important thing to remember is that each of your bets should be well researched.

If you have strong research that three horses dominate the field, look at the odds and decide how certain you are.

You can spread bets around to hedge, but keep in mind that each bet costs you money. 

Having a betting system can protect you from making emotional decisions, but they’re generally statistically flawed.

The key to making money on gambling is to beat professional handicappers by knowing the full details of the races.

Know the bookmaker lines and then look for mistakes.

Bookmakers base betting odds on how likely it is that a horse will collect bets. That doesn’t necessarily mean that the bookmakers think that a particular horse will win the race.

Horse insiders do bet, too, so keep in mind that they have more information than you do. 

Keep in mind that there are a lot of humans in horse racing too. Sometimes we focus on the horses, but learning about the jockeys and trainers can be more accessible. 

A skilled jockey will be following the horses and be making his own wishlist. Getting on the winner’s podium requires them to have intimate knowledge of the horses.

If a jockey has his pick of horses but chooses one particular horse, ask yourself why they are making that choice. Jockeys receive a mounting fee, but they make real money from getting on the podium.

Learn the quirks of the horse people, and think about the psychology of racing fans. That will help you make decisions about whether the odds are worth it or not.

Tip #4 Bet on Multiple Races, but Not Every One

Each racetrack will have multiple races, which means a lot of homework for sophisticated gamblers. That’s a lot of horses and personalities to get to know.

You should bet on races where you have superior information. Otherwise, you’re just throwing money at the wall and hoping it sticks. 

Spread your bets across multiple races, but make sure you do your homework on each race. Handicapping is all about having good information.

You should be able to give a good synopsis about why you are making each bet. Never bet randomly.

Manage your bankroll and avoid going all or nothing on one horse.

Don’t bet more than you have, and know that even the best handicappers will lose a lot of bets. So do your homework and spread the money around.

Spreading the money around reduces the impact of luck and increases the role of statistics. Like all sports betting, track betting is partly based on having good information and partly on luck.

Horse racing betting is more challenging than other kinds of sports betting because you typically have less information unless you’re in the stables. 

In the NFL, there aren’t any secrets. But it’s a different story in horse racing. A horse might have an undisclosed problem, and that can really cost you a lot of money.

Final Thoughts

Betting on a 100 to 1 long shot isn’t usually going to work out for you, but betting on the favorites will have a tiny payout.

Horse racing is one of the riskier sports bets because of the amount of insider information and the lack of public information.

But that doesn’t matter if you love the horses and enjoy placing a bet. Just be realistic about your chances and manage your bankroll carefully.