Modern horse betting began in the 1600s during the reign of King James I of Great Britain. It involves staking money on the final placement of horses during a race. Nowadays, the type of horse betting known to many gamblers is parimutuel betting. Here, the money staked by gamblers is pooled together and will be shared proportionally among the winners.
If you’re a first-time bettor, you’ll need help getting around the horse betting universe. You’ll need to know many things as you go further in your horse betting journey. Here’s a list of the seven essential tips you need to know before taking your first bet.
Wager Money You Can Afford To Lose
An essential tip in horse betting is remembering and never forgetting only wager money you can afford to lose. Do not stake money you’ll use to buy groceries, pay school tuition, or settle household utilities. It’s not a good practice when your hard-earned money will all just be used in gambling.
By only waging money that you and your family can spare, you’ll be free from the psychological pressure of making sure that these bets you’ve made will all turn into profit. Stop when you’ve reached your daily betting limit. There are still a lot of races on Saturday that you can bet on.
Get To Know The Horses
Knowing the horses participating in the race will help you decide which one you think would likely finish first. Knowledge and information about them are crucial so you’ll know their history, track record, and current health status. You can also subscribe to these guidelines in determining if the horse is worth betting on.
- Easy Last Time Out Winners – Check the streaks of the horses. This helps determine which horse can go again and cross the finish line first.
- Good Rating Figures – Research the current statistics of the horses on their recent races.
- Race Commentaries – The insights and opinions of people, especially pundits, helps narrow down which horses are quick, healthy, and robust.
- Change In Class – Research which horses have gone or down a class since it affects whether they will finish based on their opposition during the race.
- The Company – Look at the opposition’s data and statistics. Check if your chosen horse can keep up or beat all the other horses.
- Bounce Bank – When you’re down doesn’t mean you’ll always be down. Betting on a horse with a recent slump could yield bigger prizes if the horse has a changed condition or is much fitter.
Check The Racecourse
Knowing what type of racecourse the horses will run on is vital. Each horse has its racecourse forte – on which surface they can perform more. Choose the horse that prefers the surface of the race. It gives them the upper hand during the race as they’re more familiar with the surface.
Just like having horses prefer one type of surface and excelling in them, some horses are uncomfortable and do not excel on a particular surface. It would be best if you avoided that decision. It would most likely be a losing bet unless a miracle happens. Unfortunately, miracles only happen occasionally and rarely happen on a racecourse.
Research The Race Team
Aside from getting to know the horses in the race, it is also beneficial when you research the different teams caring for the horse racers. Knowing them lets you determine their horse racing strategy and philosophy. The strategy and philosophy of a team is the sacred rule that all team members must follow at heart.
Moreover, checking out the trainers of each horse will enable you to determine which horse is being trained by a horse racing training veteran and which one is being trained by a baby horse trainer. Their records will show which one of them is better. Choosing a horse trained by the best trainer would be the most logical and smart thing to do.
Furthermore, jockeys are vital to a horse’s success on the racecourse. Every jockey has a favorite racecourse which means they would likely perform best in this specific racecourse. Knowing the jockey of the different horse tells you what skill set best commands a horse.
Do Not Chase Losing Bets
If the horse you’ve bet on didn’t win, don’t chase the money you’ve lost. You’ll likely lose more since you’re not thinking rationally. This action is a textbook recipe for disaster. Your goal here is to win more money, not lose more. Sometimes, taking a break and recuperating is best if you want to keep on winning.
Stop When You’re Not Having Fun
One integral aspect of the addictive nature of horse betting is it’s always thrilling and fun to watch. So remember, whenever you’ve lost interest or aren’t enjoying, stop betting already. You don’t want to give away bad energy when gambling since it’s a requisite to having a losing streak.
Final Thoughts
If you’re a new gambler, horse betting might be the sport for you. It’s fun to watch and very entertaining, not just for bettors but also watchers. Like other betting regimes, new gamblers could follow this article’s tips. It would surely help you make a smart betting decision and not just follow your heart’s bet.
