Betting Strategy

If you are planning on betting at the racetrack, it’s best to have a strategy laid out ahead of time. You should never bet with money you need to pay the bills. Be sure to allocate funds ahead of time and consider whether or not you can afford to lose this money if your wagers prove unsuccessful. This will insure that your experience at the racetrack with be stress-free and enjoyable.

Once you’ve considered your finances and determined the amount of money you are willing to wager, decide what type of bet you want to place. Start by examining the odds for prospective horses. Odds do not tell you how much your horse will win, but how much money you can make and the amount you have to wager in order to receive it. For example, if the odds are 2:1, that means that for every dollar you bet, you will get two dollars back. Odds are calculated by the oddsmakers who determine the ability of each horse to win a given race according to the competition of the field, conditions of the track, the horse’s statistics and their past victory record. Therefore, the higher the odds are, the less chance a horse has to win a race. A horse labeled with 20:1 odds is probably not the favorite and is a risky bet.

On the other hand, if you have a lucky day and bet on the underdog whose odds are at 20:1, you could really watch your bet grow. Most first-time betters should try betting on the favorite a few times to see how this strategy works. Place a small bet on the favorite for the first few races to see how many times the favorite actually wins or loses. This will give you an idea of how well the oddsmakers judged the horses. For example, some horses run well on different track conditions. Perhaps it’s rained all day and the favorite on the board is known for preferring a dry, fast track. Search for horses that have mediocre runs on the dry track, but can maintain speed and even compete with the favorite in muddy conditions. This might be a good opportunity to place a reasonable bet on the underdog and have a chance at a successful win.

A good strategy relies heavily on the odds. Consider the value of the odds before placing the bet. After you’ve done ample research on prospective horses, you may have your own opinions on whether or not the odds are appropriate for the horses. You might feel that the odds are a little high, or maybe that they aren’t high enough considering the history of the field. To help you analyze the odds, read the next section on insider’s tips which gives new spectators helpful hints about racehorses. Use the information in this section to help determine if horses are given unfair odds, whether they may be too high or too low.