Horse betting can be very exciting, but it can be intimidating if you aren’t sure how it works. It is much more than just betting some money on particular horses to place in a given race. You will notice there is plenty of statistical information offered about each horse that will be part of the event.
As you start to understand the horse betting odds, it can help you to make your decision about who will go on your ticket. In the simplest terms, the horses deemed most likely to win will have the lowest payout. If you should bet on a longshot for a given race and they win, your winnings can prove to be quite substantial.
The horse betting odds are going to share with you how much you are going to win. For example, if the odds are 3 -1 for a given race and your horse wins; you will get 3xs the amount of your wager.
It is important to realize horse betting odds can depend on the type of wager you initiate. For example, a single horse wager means you only rely on that horse to win the race. Other wagers involve a pair or a trio of horses placing in any order in the top three places. The combination of options can influence the odds.
Try to place your horse betting wagers based on logic rather than emotion. Sometimes, looking at the horses can be a drawback because you may find one to be visually attractive. This can entice you to bet on it regardless of the statistics about that particular horse.
The statistics don’t lie though and you need to keep that in mind. For example, the top 10 riders, when it comes to jockey standings, win about 90% of the races. The favorite horses win about 1/3 of the time, but they have the worst payoff. You are better off not going with them in your wagers and go for horses with slightly higher payouts as they do win.
A common mistake with horse betting is looking at the morning line. This information doesn’t reflect the odds of a given horse winning or placing in the race. Instead, it has to do with the predictions about how people will bet on those horses for a given race.
Diversify your betting so you can see what works well for you and what doesn’t. Start out with lower wagers as you shouldn’t be in a rush to try to get some huge wins. As your winnings do add up, you can wager on a higher risk horse now and then with some of those winnings. If you lose the money, you aren’t out much but if you win, it is a huge gain!
If you are new to horse betting, listen to the commentator about handicaps between the races. This can be a wonderful way for you to pick up some tips that will help you do better with your wagers. Always review your ticket for any bets on horse racing before the transaction is completed. Otherwise, any discrepancies can’t be corrected. If you don’t think something is right, ask for assistance. Don’t assume you are wrong or you don’t have enough information.
You don’t have to calculate the horse betting odds on your own either. The racetrack will display those numbers for you on the screen prior to each race. The also offer payout charts in your booklet so you know what your payout can be based on your wagers for a given race. There are also apps you can download to a smartphone that can help you with the horse betting odds if you want a “what if” scenario.
It can be fun as well as pad your wallet to bet successfully on horse betting. Understanding the odds can help you to decide how much you would like to bet. It can also help you to decide how safely or how risky you would like those wagers to be. Enjoy the horse racing and enjoy your efforts that are part of the betting process. It can be an engaging way to make some bets that you make money from.