Horse betting is one of the most loved gambling activities in India. However, winning some money on horse race betting doesn’t come easy. As a horse racing bettor, you’ve probably tried to devise numerous betting strategies without much success. The truth is that it takes time, discipline, money and a little bit of luck to get the right strategy.
The basics of horse racing betting
To be successful in horse race betting, you need to be conversant with the basics. Otherwise, you will incur lots of losses. Even though identifying the horse to root for is quite easy, it is not enough. If you want to have a more consistent winning streak, you need to know more.
First off, you need to evaluate the different types of wagers available. Betting sites usually offer a myriad of horse race betting options. Some of them are riskier than others. And for this reason, it is prudent to concentrate on those that have winning potential.
So, what type of bet wagers should you focus on?
All the best horse race betting sites in India will have at a minimum these 4 common bet types.
- Win bets- this refers to picking a horse that will win the race. It is a win only bet.
Place bets- this refers to placing a bet on a particular horse to run the 1st, 2nd, and 3rd in a race.
- Each way bet- this is an interesting two-way bet. One choice is for the horse that will race. The second one is for the horse that will either take the second or third place.
Tricast- this is a bet prediction of three horses. You need to pick the horse that will take first, second, and third place.
- Forecast- this is the type of bet where you pick the horses that will take first and second places.
Horse racing betting strategies
The basics set the stage for you to come up with a horse racing betting strategy. Once you identify the type of wager that works for you, you are closer to a befitting strategy. What follows is deciding on a suitable bankroll. Even with all these, you are not yet ready. There is some more work to be done. Follow the principles listed below, and you will undoubtedly win more on your horse race bets;
Do your research
Research is the backbone of an effective horse race betting strategy. If you don’t invest your time in thorough research, you will hardly get any prediction right. And if you do, it will solely be out of luck. Even though betting requires some luck, you need to work with wagers that have a high winning probability.
At this juncture, you need to look at the latest horse racing publications. This could be online, newspaper or magazine publications. Usually, the information on these publications increases your chances of winning. Look at the past data of the horses, the stables that seem to produce winning horses regularly and the current news on the sport.
Research on which horse has been doing the best recently, the rider who is currently in good form, and how the stables are doing. When the race approaches, look at the emerging news regarding any problems or changes.
Set your odds
Once you have gathered all the necessary information, set your odds. This will be your target. Pick a realistic combination that can help you arrive at an established odd, then decide what stake is enough to earn you a good profit.
Compare the odds offered with your odd target. If they surpass your target, you can leave it at that or switch one risky selection with a low-risk selection. This will help you meet your odd target while lowering the risk. The ultimate objective is to refine your selections.
Don’t break your bank
If you want to win in horse race betting, discipline is of the essence. Sticking to the plan protects your bankroll, and allows you to wither the losing streaks. Don’t stake anything more than 5-7% of your bankroll, no matter how enticing a bet seems. The truth is that anything can happen in a horse race, including the underdog winning. You don’t want to lose your entire bankroll on a single selection.
Here are some tips that will keep you from breaking your bank
Create a budget
Just like budgeting in other important aspects of your life, create a budget for your horse racing betting endeavours. This will keep you responsible. Remember that you don’t want to go overboard and lose all your money in the process.
In this case, settle on the amount of money you can sacrifice for betting on a monthly or weekly basis. This should be a reasonable amount of money that you are comfortable with. Horse race betting funds should come from your leisure funds. This should be after all the basics have been taken care of. If at any point your betting funds run out, wait until the next budget. Don’t borrow or use money budgeted for other things.
Pick your races carefully
In horse race betting you will need some luck. Nonetheless, skill is equally important. When it comes to picking races, don’t do it randomly. Compare the racers carefully. You might even have to look at their past performances. If there isn’t a somewhat clear winner, you can pass, and wait for a better race. If you have doubts about a particular race, the risk is probably not worth it.
Don’t linger on your losses
The mistake that most Indian horse race punters make is lingering on their losses. This interferes with your focus and can lead to more losses. You have to acknowledge that there is always a winning and a losing streak in horse racing.
The selection you pick can only result in two outcomes; either a loss or a win. Be mentally prepared for each outcome. If you lose, get over it, other opportunities to play and win will come.
With that said, don’t try to recover from your losses on the next race, especially if you didn’t plan to bet on it. You might end up losing some more. Master bettors succeed because they refrain from this habit.
Laying in the favourite
Usually, a selection that goes against the favourite horse has a high odd. Laying in the favourite refers to betting on possible winners. Even though it looks like the riskiest move in betting, you can make a good profit by doing it strategically.
According to experts, favourites only win 1/3 of their races. In horse race exchanges, a favourite doesn’t necessarily refer to the horse that is likely to win, it could refer to the horse with the most money.
Laying the favourite should be done carefully after researching and identifying an underdog. Always ask yourself if there is another horse in the race that has a high chance of beating the favourite. If you get it right, you stand a chance to win big.
To succeed in laying in the favourite, stick to the higher tier competitions. Why so? In these competitions, it is easy to obtain relevant information on the horses. This increases your chances of identifying a weak favourite with a killer odd. Also, from these races, you will know when not to lay in the favourite.
Underpricing or overpricing is normal in horse race betting. But for an Indian player to benefit from underpricing, you need to have a good eye for underpriced horses. Underpricing means when the operator treats a great performer as an underdog. The horse is given a higher odd because it is the likely loser. The bookmaker gets it wrong, and if you get right, you win big.
Value betting is a strategy that requires a great deal of experience. It may not work well for Indian rookie players. Following a particular horse race closely for a reasonable amount of time can help you identify value bets.
Make use of the money-back and faller insurance
Promotions are awesome, but your betting activities shouldn’t be built around them. Take advantage of any suitable money-back and faller insurance to mitigate your losses.
Keep an eye on seasonal and special offers
With horse racing being the only kind of legal betting in India, operators compete for punters. This tends to favour bettors as operators offer different types of offers to lure more players. Shrewd bettors know this. For this reason, they are always looking for betting platforms that shower players with offers regularly.
To become an expert bettor, you have to do the same. For example, if you bet on a site that regularly offers free bets, you stand a chance to boost your bankroll.
The BII Verdict
Most Indian horse race punters bet on a hunch. For the better part of it, they rely on luck. For this reason, they end up losing their bets. Not always, but most of the time. Like we said earlier, horse race betting requires some degree of skill. And these are skills that anyone can acquire. If you try out the tips laid out in this guide, you’ll certainly be a better horse race betting punter than you currently are.
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