6 Proven Horse Racing Betting Strategies
6 Proven Horse Racing Betting Strategies
6 Proven Horse Racing Betting Strategies
The key to making money off a horse race is having a clear strategy. We’ve got you covered with these 6 proven horse racing betting strategies.
Keyword(s): horse racing betting strategies
Horse racing is not just a fun pastime or enjoyable experience. It can be a smart and lucrative way to potentially make some extra cash.
One of the most famous horse races in the world is the Kentucky Derby. In 2021, that race had about $233 million bet on it.
Are you looking to get in on the action and make money off of horse racing? All you need is a little bit of strategy on the type of betting you are going to do with horse racing betting.
These are six horse racing betting strategies that you should consider using.
1. Keep It Consistent
The first thing that you should keep in mind is how much you are betting on each race. A great rule of thumb is that you should determine how much you are going to bet on each race and stick to that system no matter what.
Let’s say you are someone that likes to bet about $5 per race. You may lose the first two races of the day doing that and be tempted to bet $10 on the next race to get your money back.
The problem is while you are making money, if the horse comes through, you are doubling your losses on one race if the horse does not end up winning.
Stick to a consistent betting system to prevent this from happening. That means if you usually bet $5 on a favorite to win, keep doing that. If you bet $2 on an Exacta Box, make sure you continue doing that.
2. Pay Attention to the Past Purses
The next thing that you should look at is what the horses in the race were competing for in their past races. These are called purses, which is the total amount of prize money that is split between the top horses in a race.
If you look at how much every horse has competed in recent races, you could spot one horse that noticeably stands out among the others.
Sometimes, there are horses that have raced for much larger purses than others and unsuccessfully go down a class or two to race easier competition.
An example would be if a horse usually races for $100,000 but is only racing for $25,000 in the race that you want to bet. If all of the other horses in that race have previously raced for around $20,000-30,000, you will find that there is a clear horse that stands out to bet.
3. Keep It Simple
With horse racing, you have the option of betting up to four horses in a single bet of any given race. This is called a superfecta, which basically means you have to predict what the top four horses in a race will be.
Another bet that you can make on a race is called a trifecta, which makes you predict the top three horses in a race.
While both of these types of bets can have tremendous rewards, the odds of actually converting on these bets get significantly lower every time you add a horse to the equation. This is especially the case in larger fields like the Kentucky Derby, which can have 20 horses competing in the race.
The rule of thumb, especially if you are a newer bettor to horse racing, is to stick to betting one or two horses per race.
4. Hedge Your Bets
One option that you have when it comes to betting on a horse race is to hedge the bets that you are making on a certain race. Now, there are two ways to do that.
The first is to bet one horse across the board. This is called betting on a horse to win, place, or show. That means that you can bet about $2 on each position, and if that horse comes in second instead of first, you still win the payouts for second and third place.
Another way you can do this is betting on more than one horse in separate bets. The best time to do this is when there is a big favorite in a race that offers a very low payout if it wins.
You have the option to bet on a horse you consider underrated that could sneakily win a race. Then, you would make an overall profit on said race.
5. Consider the Jockey
Yes, a jockey does matter when it comes to betting on a horse. Most races have the jockey’s career stats available in the race book. It will say how many times that jockey has won, placed, or shown in their career.
The other thing that you need to consider with a jockey is how many times they have raced on the horse they are slated to race on before. If they have a lot of recent races with that horse where the horse has done well, it is worth considering making a bet on the horse.
6. Pay Attention to Past Dates and Tracks
Finally, check to see the past dates a horse has competed and what tracks they raced on. If they have raced a lot recently on the track, you are betting on, that may be a sign that the horse is comfortable on that track.
Another example is seeing what the date of a horse’s last race was. Typically, horses are less reliable if they have raced to recently, so perhaps fade a horse that just competed in a race last week.
Learn More Horse Racing Betting Strategies
These are just six horse racing betting strategies that you can implement to improve your betting odds. You just have to make sure that you stay disciplined and stick to whatever system you decide is effective for you.
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