If you’re new to horse racing betting, it’s important to know that there is no one perfect betting strategy.
Different bettors will have different approaches based on their own goals, preferences, and handicapping methods, so it’s best for a bettor to tailor it to their betting style. However, there are some general tips and strategies that all novice bettors should keep in mind when placing their bets.
5 Horse Racing Betting Strategies for Novices
The Beaten Favorite System
Many people like to see and bet on a horse on a winning streak. This is mainly because it’s going to be predictable for every race. However, when that horse suddenly loses its winning streak, the audience will soon lose interest in that horse and move on to another one. In this strategy, you will be banking on the horse to get back on its feet, or in this case, hooves, and win another race.
You can even analyze the reason for the sudden loss of that horse. For example, let’s say that the horse had its winning streak on a straight track with a synthetic surface. When it lost, you noticed that the race was circular with a dirt surface. The horse had to adjust to these changes, which resulted in a loss.
Trainers would often return to their previous race, and you can bet on that horse with your helpful horse betting tools since it has a significant chance of winning. Not only that, but because no one wants to bet on this horse again, the odds are better, and the payout is significantly higher because bookmakers want to make this horse have bets on again.
Now this one is much easier to win, albeit with a lower payout, which is pretty much understandable. One great thing about this strategy is that it applies to any sport but is easiest to employ in horse racing. So what is lay betting? Lay betting is simply betting against a runner. So, for example, you can bet on horse #5 and wager that it is not to win the race.
You can do this by identifying the top three runners in a race. After identifying them, you can then look for horses that have odds between 3.0 to 6.0. Or, you can choose to bet against the underdog horse in the race. The average winning percentage in this bet is 80%, which is certainly not small.
Dutching Betting System
Dutching is a popular horse racing betting strategy that involves calculating the odds of various races. This strategy guarantees you will win the same payout regardless of the horse you bet on. It’s fairly complicated too since it uses mathematical equations but don’t worry too much as you don’t have to be a math whiz to understand and use this strategy.
In essence, all you have to do is to select how much money you want to wager with, split them in a single race, and you will secure a guaranteed profit. This is a good strategy if you’re willing to bet on multiple horses in a single race. Not only that, it’s even greater if you have a substantial amount in your bankroll.
Value betting is a general strategy that can be applied to other sports betting. In this strategy, the aim is to maximize your profits over time. However, this strategy will require you to develop an eye for value first since it’s the most important aspect of this strategy.
Look for a selection that you think is underpriced and has a higher chance of winning the race than what the bookmaker thinks. For example, you’ve found a horse with an odds price of 3/1. However, according to your research, it has a chance of 4/1 to win the race. At this moment, you may have found an undervalued horse.
Laying a Weak Favorite
This one requires you to spot a weak favorite; thankfully, they are easy to spot. A favorite that has odds of 3/1 or lower is usually a sign that it’s a weak favorite. You can even look up more info on horse speed to further prove that fact. That said, you can lay against it. This might be familiar to you since we talked about this earlier, but this time, instead of laying against the underdogs, you’ll have to lay against the favorite itself.
These strategies are very good, even for novices, so if you’re looking for a strategy that even beginners can use, then the points discussed above are good. But of course, these strategies don’t guarantee wins, so you still have to listen to your gut sometimes.
Armed with this knowledge, you’re now ready to start placing bets on horse races. Remember, the key is to do your research and to bet responsibly. Good luck!