Horse racing is one of the most exciting sports to watch and make wagers on.
Its popularity has stood the test of time, and that is evident by the fact that it is the third-most popular sports betting option for customers in the United States.
Betting on the sport is hugely enjoyable for those who do so sensibly, and it can often be a lucrative option if gamblers have a sound strategy for long-term profit.
Betting on the sport is popular throughout the year, but it is most prominent during the Triple Crown, with millions of dollars wagered on the most popular race in the U.S.- the Kentucky Derby.
But, what are some of the key tips that newcomers to horse sporting betting should follow to ensure that they stand the best chance of gaining returns from their selections?
Study The Form
One of the most necessary tips that all horse racing wagerers should follow is to study the latest form.
The recent runs of horses involved in the race will be the biggest indicator surrounding the most likely result in a race.
Studying the form can often be complex to newcomers, but it is relatively straightforward to get a basic understanding.
On the form card, bettors will be able to find the information surrounding each runner’s previous efforts on track, outlining the distance that they have covered, the speed figure recorded, and the class of race that they were competing in.
All of this information is vitally significant before making a wager, as wagerers will be looking for a runner with high-class winning form over the distance that the horse is competing over.
Jockey/Trainer Success
The recent success enjoyed by jockeys and trainers also can’t be overlooked before making selections.
This is often a key detail that all experienced bettors will examine before making their final selections on a race, as yards in high-quality form will likely stand a better chance of success as their yard is in its peak condition.
Statistics:
As per recent insights, in 2022, the global horse racing market size is set for rapid growth and accounted for USD 402.3 billion.
Soon, by 2030, its market size is predicted to reach USD 793.9 billion.
However, it will be the opposite for trainers with poor recent strike rates, as this could lead to suggestions that something may be amiss in the yard and that the horses are underperforming.
Wagerers will also be looking to wager on a horse with a high-quality rider.
Jockeys with esteemed success at the highest level will have greater know-how regarding winning races, and this could see them hold an advantage over their rivals.
Set Your Budget
It goes without saying, but betting on horse racing should be seen as a luxury and not a method to fund paying bills.
Do You Know?:
The world leader in the horse racing industry is the British which generates more than £3.7 billion for the country’s economy.
They take part in iconic events like The Randox Health Grand National and the Cheltenham Festival.
Therefore, bettors should ensure that they set themselves a budget that will be used to make wagers on the horse sporting action.
Under no circumstances should bettors exceed their budget, as that would be a big mistake concerning gaining long-term profit.
Bettors should also never chase their losses, and always know that it is necessary to take breaks if you’re on a long losing streak.
Sticking to your budget enables bettors to stand a better chance of gaining returns in the long run, and ensures that gamblers aren’t losing more than they can do, which could have a detrimental impact when it’s time to pay bills at the end of each month.
Follow Trusted Experts
Horse sporting speculators should always formulate their own opinions about races, but sometimes it could be worth examining expert views surrounding some of the biggest races to assess if your belief is matched by those with a high standing in the game.
Wagerers should only read the views of experts that they trust, and those with a strong winning record of predicting outcomes on the track.
Interesting Fact:
Since 2000, the average winning price is $17.45.
Nowadays, there are a lot of social media accounts that claim to be experts at tipping winners on track, but these should be ignored as they could often be looking to enhance their chances of getting better odds on their selections.
Check out this detailed guide about how betting odds work: https://www.twinspires.com/betting-guides/what-do-horse-racing-odds-mean/
Watch The Racing
Gaining a better understanding of the sport is vital for any newcomer to horse sports, and the best way to learn more about the sport is by watching the action on the track.
It is always encouraged to attend a day at the races to find out more about the sport on the whole, as you can get up close and personal with the stars at the parade ring, which will give a fresh perspective into the real stars of the sport.
Watching live streams of the action can also be hugely important, as you can learn more about the tactics that jockeys use in-race to enhance their chances of gaining victory.
Only by watching the sport regularly will you become an expert concerning betting on horse racing.
Also Read: Secrets of Successful And Profitable Betting
