Gamblers make some mistakes when betting on horse racing that you’ve probably seen if you’ve ever been at the track. We may have all made one or two of these mistakes ourselves if we’re being honest here. The horse racing world offers the gambler many unique challenges and opportunities to win – as well as the opportunity to learn from others’ mistakes – in addition to some of the mistakes we’ll discuss – such as chasing.
These are some of the most common mistakes people make when betting on horse racing.
Betting on the Favorites
In general, it’s not a bad idea to bet on the favorite to win if you’re uncertain which horse to choose. Provided, however, that you have independently determined that the favorite is, in fact, the most likely winner. Lady Luck would be mocked in front of our friends if we threw money at a morning-line favorite at random. You can never get anything good out of that.
Too early betting
Using the total amount wagered on each horse, horse wagers are calculated as parimutuel wagers. Basically, the official track odds are not determined until the betting windows close and the tote board calculates them. Alternatively, morning-line odds are educated guesses about final betting ratios that are calculated a day or two before the race. There can be huge differences between them and the actual track odds as well. Using a hypothetical example, let’s say that one of your horses, Batman, is listed at 12/1 odds by the morning line, which simply means the track’s handicapper believes those odds will hold when the race starts. It seems that most of the wagering public has overlooked the trick that those in the know use to find the horses that are most likely to win a race. When your long-odds sleeper gets outed to everyone else, you’re left watching in dismay as his odds gradually decline to even money. Your money would still be resting comfortably in your pocket if you had waited until just before post time to place your bet. Therefore, you should place your bets as soon as possible after the race has started. Do not place a bet if you cannot avoid it. Many times, “not losing” can be even more satisfying than winning.
Making money by betting on clever names
It needs to be better for you. Horse names have little to do with a horse’s ability to win as their colors do. Refrain from betting on the name as a means to reward the owners for being so creative. You could bet on Hoof Hearted, which is a clever name, but the person who came up with it won’t make a dime. The horse racing betting basics are a great place to start if you are new to horse betting (and only bet on horses you like) or want a refresher.
Bankroll Management Is Not Necessary
The handicapper you are is a master. The Jockey Club is a rarified environment where the rich and famous hang onto your every word. Your manners are elegant and reserved, and you are the most interesting person in the room. Then, approximately eight races in, you’re left with a lonely fiver and haven’t had a hot dog. Would it be better to decrease hunger or place a desperate wager on that 20/1 sleeper in race eight? Can you guess which one?
Having trouble understanding the bet
There are no such things as a trifecta, a pick-three, an exacta, or a daily double. Before betting on any of those, educate yourself on what they are. Your only responsibility is to obtain advanced knowledge of accumulators, even if you simply place straight win-place-show bets. Exactly why? The reason is that accumulator bets like pick-threes and pick-sixes can make modest bets significantly more profitable.
Therefore, you must study the horses, jockeys, and trainers for each horse competing in a race you’re “accumulating.” If betting on horses were simple, more people would be doing it.
Read our guide to horse racing betting in Singapore to make sure you’re placing the right bet on the right race.
Attending to the jockey but not paying attention
It’s possible for a skilled jockey to improve a good horse and even turn a poor horse into a winner-but they cannot run for them. Although Joel Rosario’s career win rate is 18%, he is one of the top five jockeys in the world based on his win rate. It’s not the case with all jockeys today. Their potential hasn’t yet been reached for some of them because they are just starting out. Typical young jockeys who are just starting out win 5-10% of their races. Generally speaking, new jockeys are not good bets, despite apprentice weight allowances that can lighten a horse’s load by 5-7 pounds.
The key to success is speed
It is possible to misinterpret speed figures. The results show how the horse performed on a given day, on a given track, with a particular jockey, and in a specific weather condition. There will always be one horse that runs faster than the others, but which one is it? If you are handicapping a horse on a dirt track, you should include speed figures as part of your process. Note, though, that a good speed figure on a turf course means nothing.
Betting on the AWTH
The AWTH strategy represents “what the heck” and is an awful way to gamble. It’s as simple as this: You haven’t done well all day. Your chosen horses (after hours of research and calculations) did nothing more than chase the other horses to the finish line. The horses seem to be losing just because they want to spite you. The rainbow almost appears as if it’s a sign from the heavens. Considering all your “winners” have ended up being anything but, perhaps a 50/1 longshot is the more shrewd wager today.
AWTH betting is a practice that fits in with AWTH bets simply because it is an extended version of the same concept. Getting even is your goal. In recent years, the chase has become one of the most popular concepts and has spread around the globe. Whenever a flush or gut-shot straight is filled on the last card, a poker player will use the phrase “chasing the river,” which is an epithet uttered by players. While throwing good money after bad may have a positive impact on your bookies, it won’t have a positive effect on your bankroll.
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