Developing a Horse racing betting strategy
So, you’re armed with a good knowledge of horseracing, a betting account, some cash to play with and enough enthusiasm to conquer the world. What to do next? How do you start winning?
There are a number of basic principles, easily forgotten, that form the foundation of betting on horses. There are steps you can take from the offset, and before you start your close scrutiny of horse form, to make your journey more exciting and consistently more profitable.
This blog has touched on the importance of keeping a clear, open mind in your attitude to placing bets and this should always be dealt with first in any approach. While betting is a serious activity, you have to accept always that there will be several losing bets among your investments. That’s just the way it is and no amount of anger or despair will return the money played on a losing bet.
Keep calm and focused
Thinking of the world’s top golfers is something that can assist you in this regard. In a game which is as much a game of the mind, like betting, the champion golfers are those who are able to put a double-bogey behind them with a birdie on the very next hole. Breathe, relax, try to identify why you made a mistake and then move on to the next bet. The principle: Relax and keep your mind focused.
Find out more about different types of Horse Betting
Discipline is key
Discipline is a much-discussed aspect among all punters, and it is such because only a minute percentage of bettors possess the ability to discipline themselves. You will meet dozens of betting fans who will claim to have discipline, but when you spend some time with them, they disprove their claims within minutes. Most bettors chase the next bet, win or lose, and fail to make a full assessment of their bets at the end of the day. Those that really apply discipline in their limiting of bets and, importantly, not ‘chasing’ the next win with wild flutters, are the most consistently successful bettors in the world. The principle: Commit to full betting discipline. Truly.
Stick to your budget
Closely aligned with discipline is a betting budget – daily or monthly. Since the majority of avid racing fans are daily bettors – opportunities abound 24 hours per day – we’ll assume a betting budget of, say, R500 per day. It’s simple: When your R500 is spent, just stop. Tomorrow is another day with many new opportunities! Don’t make the mistake of doubling your budget to recover when your money has been lost. Stay calm, start studying the cards for tomorrow and consider how your next R500 will be spent. Chase on, and you will be out of picket long before you know it! The principle: Stick religiously to your daily budget.
Whatever the specific betting strategy is, you will eventually employ, no strategy will be effective in the long run without a focused mind, a betting budget and discipline.
Study, research and make better decisions
Here’s a fourth aspect to remember and it will serve you well: To select your best bet or bets for the day, you have to study the form for all races! It comes down to this: You cannot possibly determine where the best value lies on, for example, an eight-race programme, if you haven’t scrutinised all races carefully. Once you’ve picked your eight winners, you’ll be able to filter them down one by one by elimination, until you find the one bet, sometimes two or three, that make the most appeal on a card. Discipline and common sense tell you it is impossible to select eight winners on an eight-race card, even if you feel that positive before the meeting. Eliminate the potential winners that give you the most doubt, so you are left with a handful of positive bets – those you feel the ‘strongest’ about. Your strike rate will improve as soon as the first week, and your bank account will reflect that! The principle: Study all races on a card to determine your best bets.
Betway one of South Africa’s popular sports betting providers has recently launched Horse Racing, you can check out the fixtures (race cards) and odds on their website.
