Want to know how to put together a horse betting strategy for beginners? Learn how to find the best horse racing betting tips and understand horse racing odds with our guide to horse racing betting strategies!
Horse racing and betting are intertwined in a very unique way. Indeed, without betting, it is fair to say that horse racing might not exist, or at least not in the form in which we see it around the world today. Horse racing betting strategies have therefore been around in some form for a very long time. Countries like the UK, Ireland, Australia and Japan have well developed horse racing industries, and the sport is well established in dozens of other countries across the world, with millions of bets being placed on it every day.
Here, we’ll take a closer look at how you can put together some horse racing betting strategies, and where you can find horse racing betting tips. Read on to find out more!
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Horse Racing Betting Overview
Official betting on horse racing dates back to at least the 1600s in England, but wagering on some form of horse racing dates back to at least the Roman Empire, and probably long before. Traditionally in the modern era, bets have been placed at the racetrack. The advent of betting shops in the 20th century made betting on horse racing more widely accessible. In the 21st century, the growth of online betting has widened the potential audience even further.
Horse Racing Odds
Odds are a measure of probability, and you will see them given in different formats according to which country you live in. In the UK and Ireland, odds are given in a fractional format, so a £10 bet on a horse at 2/1 brings a win of £30 in total – 2x£10, plus your £10 stake back.
In continental Europe, a fractional format is used. In a case such as this, a horse which odds of 2.0 will bring the same return as a 2/1 bet in the UK. This format makes it simpler to calculate winnings. American odds are given in an entirely different way, with odds with a minus sign being the amount that you need to bet to win $100, and those with a plus sign indicating how much you will win if you bet $100.
Where to find horse racing betting tips
The horse racing media is the best source of horse racing betting tips. If you want to be a successful bettor, you should follow as much of the horse racing news as possible. Pundits often share tips in the media that can be useful to you. These kinds of tips will complement your own research into the form and recent results of horses, jockeys and trainers.
This means that social media is a great resource for you to use. You can pick up useful nuggets of knowledge from sites such as Twitter, where horse racing journalists and other professionals will share their insights. You can also pick up horse racing betting tips from other, more experienced punters at sites such as Reddit.
Types of bets on horse racing
Anyone who wants to put together some horse racing betting strategies that will work obviously needs to know about the types of bet you can place on horse races. Here are a few types of bets that you can place on racing. Anyone drafting a horse betting strategy for beginners needs to know these terms.
- Single: Sometimes called a straight bet, this wager is the most common bet placed on racing. You can bet on a horse to win or place an Each Way single.
- Each Way: This is where you bet on a horse to win or finish in the places (usually the first three, but this can vary) at reduced odds.
- Double: This is where you bet on two separate selections running in separate races. Both selections must be successful for the bet to win – one failure means the whole bet loses!
- Treble: This is the same as a double, only it has three selections rather than just two. Again, all three of your selections must win for your bet to be successful.
- Accumulator: An accumulator consists of at least four separate selections that are running in separate races. As with a double or treble, all selections on your slip must win for your bet to be successful.
Knowing about types of bets is vital to putting together successful horse racing betting strategies. It is only by having a truly thorough knowledge of bet types that you can hope to achieve consistent success. Successful horse racing punters know which bets to use on which horses at each race, and how to combine different types of bets on their coupons to maximise their chances of taking home at least some kind of win.
How to put build successful horse racing betting strategies
Building successful horse racing betting strategies is a matter of bringing together several factors. Here is a handy list of things to consider, if you are trying to formulate a horse betting strategy for beginners.
- Focus on one country so that you do not attempt spread yourself too thinly, focus on the type of horse racing Scotland or another single country offers.
- Remember that there is flat racing and jump racing, so do not get the two confused.
- Always consider the weather and ground conditions as these are important for horses.
- Check out the kind of success that trainers are having, as well as horses and jockeys
- Use social media to pick up tips from insider experts and racing professionals
- Make sure you understand the types of bets and horse racing odds
- Always keep a close eye on your bankroll and bet according to what you can afford
- Stay calm and remember that betting is for entertainment, not a means of solving financial problems or earning a living
Conclusion
Anyone who is keen to put together some successful horse racing betting strategies needs to, first of all, ensure that they understand bet types and odds. They also need a pretty comprehensive knowledge of the different types of horse racing and should focus on racing in one country, ideally. You can use media insights and social media to give you tips that can complement your own research into the sport. Stay calm and keep a sharp focus on these factors, and you should be able to enjoy some success.