Tips for New Horse Racing Bettors

Tips for New Horse Racing Bettors

Horse racing is one of the most bet on sports in the Australia. Many punters get involved with online horse betting because they believe it is an easy way to make money. The truth is that being successful at horse betting takes time, patience and a good understanding of the industry. That being said, there are a few tips for novice bettors that can ensure that you win more than you lose. Nothing is ever guaranteed, but if you can understand the markets and follow basics betting techniques, you can significantly improve your chances of winning.

Learning the Basics

If you are new to the world of online horse betting, the first thing you need to understand are the various types of wagers on offer. Online and land-based betting facilities offers a wide range of betting options, however there are just a handful of wagers that you should focus on to get started. These include:

  • A Win Bet – This is a simple wager placed on a single horse you believe will win the race.
  • Placing Bet – This is when you place a bet on a horse to run 1st, 2nd or 3rd in the race.
  • Each way bet – You can think of an each way bet as two separate bets. This is where you predict the winner of the race as well as a horse to finish in the top three.
  • Trifecta Bets – This is a bet where you are attempting to predict the first three places.

Once you are able to pick out the most suitable wagers for your bankroll and betting style, it’s time to put your knowledge to the test. Knowing what types of bets are on offer, doesn’t mean that you are anywhere close to being able to pick out a winner though. If want to become a winner, you should have a plan of action, and it should all start with research.

Do Your Research

Before you do anything else, you should be reaching for the latest horse racing publication or trawling the internet for as much information about the sport as possible. For starters, you should be looking for historical data on which trainers are consistently the best, which stables often produce winners and which jockeys tend to win races.

Once you have built up a bank of knowledge, you can focus on current events. This means looking at which rider is hitting their peak and which horse is posting the best times. You should also be able to figure out how each course is running on a particular day as well as how each horse fairs on the type of track.

Set Your Own Odds

Once you have gathered as much information as possible about the race, the riders and the horses, you should get an appreciation of the markets by setting your own odds. What this means is that you should be able to become your own bookmaker and attempt to create your own betting lines.

The first thing you need to do is pick a bunch of races and try come up with your own betting lines for each race. You can then compare the odds you came up with the with the actual betting odds offered by the bookmakers. This will give you a good indication of whether a betting line is out of sync and worth a punt. The more often you do this, the more you will refine your predictions and create winning opportunities.