Every year, millions of punters globally wager on horse racing. Alongside Formula One and NASCAR, horse racing is among the most popular racing sports in the world.
As with any other sport, horse racing also comes with a few quirks of its own, which experienced punters are aware of and frequently leverage in their favour.
The horse racing experience has undergone many changes over the years and is now one of the most sophisticated and digitised sports available to viewers and punters. With vast amounts of performance data on hundreds of horses, the modern horse racing bettor has plenty of options to boost their chances of winning.
Learn the Sport Before You Bet
Horse racing is virtually ubiquitous on online betting platforms. Prediction markets, crypto betting sites, and Gala Bingo Sister Sites all offer at least some horse racing markets.
This is to be expected, as horse racing is one of the oldest sports in the world and simultaneously one of the most popular forms of racing in many countries.
Before fully diving into betting, it is advisable to learn the basics of horse racing positions. Forecast, trifecta, and each-way are all common types of horse racing bets. You should also be aware of how a racecard is structured. By learning the ropes first and placing bets second, you will avoid the common mistakes rookie punters tend to make.
It is better to start simple by researching horses and focusing on win and each-way bets. Once you are confident in your ability to make educated guesses, you can start dabbling in more complex bets available at your sportsbook.
Compare Odds Between Platforms
As we have already mentioned, hundreds of online sports betting sites offer horse racing to their clients. This means that odds may vary considerably between platforms.
You can compare horse racing odds between platforms to get the best possible odds for your bets. This is especially handy when you are planning to make a parlay consisting of 5 or more positions.
However, do not pick a sportsbook solely because of longer odds. Consider their size, status, available betting markets, and years of experience to reduce counterparty risk as much as possible.
Pay Attention to Form
While some horses and riders may have a much better track record in terms of derbies won, you should pay more attention to recent form. For example, if a highly esteemed horse is going through a rough patch of form, it is best to reconsider, or hedge your bet against said horse.
Form is an important gauge in every sport on the planet, and horse racing is no exception to this rule. Even some of the most successful riders and horses can encounter short-term slumps, which you should never overlook in your analysis.
A horse that has enjoyed continuous success is more likely to win the next race. However, fatigue is another factor to consider. Many punters tend to get into a habit of consistently betting on their favourite horse, a strategy that often backfires.
Consider Weather and Ground Conditions
Weather conditions are often overlooked by punters, which is an enormous mistake. During rainy periods, the racecourse gets wet, which can sometimes lead to the rescheduling of the race.
For races that start on time, you may see some movement difficulties or worsened visibility, which can greatly affect the performance of both the horse and rider.
Since the United Kingdom is the premier destination for horse racing, the issue of rain can be a persistent one.
On the other hand, extreme heat and humidity also affect the stamina and endurance of the horse. Depending on the overall physical condition of the horse before the race, even minor adjustments in performance can significantly alter the result of the race.
Use a Staking Strategy
Horse racing is an inherently unpredictable sport. To hedge against some of the risk, it is generally advisable to come up with some sort of a staking strategy. For example, choose the same bet sizes every race to manage your bankroll better.
You can also allocate a fixed percentage of your bankroll to each bet, which makes them more predictable in terms of their effect on your betting budget.
You can continue to increase your stake based on how confident you are in a particular race. Doing so gives you more control over how many bets you place and how each of them is sized.