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Horse Racing Betting Tips
For as long as there was horse racing, people have always wanted to bet on the outcomes. Dating back to ancient times, this popular game is celebrated all over the globe. Major horse racing events like the Dubai World Cup, Melbourne Cup, The Grand National, and the Breeders’ Cup attract thousands of people on the stands, and millions more watch at home.
Watching a horse race is a wonderful experience, and betting on the horses only amplifies it. In this page, we will take at some horse racing betting tips and talk about how you can make the most out of your bets. If you are new to the wagering scene, we have some race horse betting tips for beginners that you can use for your next wager. We also have advanced horse race betting tips for those who want to step up their wagering game!
Betting on the Horses Online
One of the most important betting tips of all – the tip before you start figuring out how you are going to pick which horse to bet on – is to make sure you know just how you’re going to place your bet. Before you start wagering on the ponies, you have to choose a trusted sportsbook, or an online betting exchange. In an online sportsbook, you get to bet on the odds that the sportsbook gives. In a betting exchange, you get to bet against other punters’ odds. You can also set your own odds in a betting exchange, and wait for another punter to bet against you.
A great advantage with online betting is that sportsbooks often give betting bonuses that allow you to maximise your wagers. You can use our betting site reviews here on hityah.com to see what kinds of bonuses sportsbooks have to offer. Our detailed reviews for each of the sportsbooks we list also show VIP loyalty programs, deposit methods, wagering requirements, and pros and cons in order to help you select which betting platform is the best for you.
Race Horse Betting Tips
If you want to bet on the ponies, the first thing you need to remember is that anything can happen on the track. Your chosen horse doesn’t win every time, and you can get very surprising outcomes.
But if you want to have good chances of getting a payout, then you need some advanced knowledge in racing. How exactly do you pick a winning horse? There are literally thousands of horse racing tips and opinions out there about predicting a winning horse. And while luck is always a factor on whether you lose or win a wager, the best way you can make better bets is by learning more about live horse racing.
When making a bet on a horse race, you have to make a couple of things into consideration, such as:
- Current form of the horse
- Overall performance of the horse
- The current horse trainer
- The current jockey
- Speed rating
- And course record
1) Read the Race Day Program
If you were not able to do some research before the racing event, then you can rely on the race day program. The race day program is crammed with many information that you can use to make better wagers. In the program you will find statistics and history about each horse for each race.
2) Look at the Class Levels of the Horses
In horse racing, there are different levels of competition called classes. As you move up in class, you will find better performing horses, and higher race purses. There are four race classes: maiden races, claiming races, allowance races, and stakes races.
Horses move up and down classes throughout the year, depending on their performance. Oftentimes, if a horse wins a race, it will move up a class. If it finishes last in consecutive races, a horse will typically move down a class.
A horse’s class will help you predict if it will perform well on a race. For example, you want to bet on a £40,000 allowance race. You check in the race day program and see that it has been consistently performing well, coming in at either first and second in its past races. But then you notice that all of these previous races are claiming races.
You now see that although it is a pretty good horse, it might be outclassed by other horses who have experience in allowance races. So it might not be the best idea to place a win bet on that horse.
3) Review the Past Performances of the Horses
It goes without saying that you should check out the past performances of the horses. From here you will find out the average speed rating of a horse, and what surface types it is most comfortable in. Some horses perform incredibly at dirt tracks, while some do better on all-weather tracks. If you see that a horse has a great track record on dirt and has never competed on an all-weather track, you might consider taking this horse off of your list of picks.
4) Take Note of the Trainer and Jockey
Winning a horse race involves a three-way partnership between the horse, the jockey, and the trainer. All must work together to arrive at victory on a track. So take note of the trainer of your chosen horse. Is this trainer a veteran? What other notable horses has this trainer worked on? By finding out how good a trainer is, you get an idea if a horse will perform well.
The jockey is also a crucial factor in horse racing. If a jockey consistently places in first, second, or third, then this is a good indicator of talent. You could place a win bet on that horse. If a jockey has consistently finished in the middle of the pack, then that is a pretty good horse to bet on too. You could put a place bet on that horse because there is a good chance it could finish in the top spots.
After you have considered all of these factors, you can make smarter and more well informed choices when picking your winners at the race.
If you want to master making elaborate bets like Trifectas and Superfectas, we have another race horse betting tip for you: you should try record keeping. Through record keeping, you note down the strengths and weaknesses of the horses throughout several competitions. From your records, you will be able to know which types of races and which types of bets produce the best results for you.
As you spend more time watching horse races, you will eventually find a strategy that works for you. Your experience will start to count, because you can fine tune your evaluations based on your understanding of the game.
Remember that there is no secret formula that will make you win money on all of your wagers. But with a bit of patience – and the help of some usefully horse racing betting tips – you can make cleverer bets while enjoying the experience of the race.
Horse Racing Betting Systems
Horse betting systems are techniques used for picking a horse to win (or sometimes lose). Horse betting systems are not sure-fire ways to make money, but they do provide some great horse racing tips and strategies that can help you select a great horse.
1) The Statistical Lay
To lay a horse (or a Lay Bet) in the betting world means that you are essentially betting against a horse to win. The Statistical Lay is a technique you can use to increase your odds of winning a wager.
To use the Statistical Lay, first you have to select a horse race that has ten or more runners. Once you have found a race, you need to identify three favourites and check out their odds.
Once you have determined which horses are the favourites, you need to check which of these runners have odds between (2/1) and (4.8/1). Now, select which of the horses have the lowest odds in that range. That is the horse you will lay against.
So how does the Statistical Lay work? According to statistical analyses, horses (when in the top three picks of a race) that have odds within the (2/1) and (4.8/1) range only win around 17% of the time. This means if you go for a Lay Bet (a wager that the horse will not win) on these prospects should realise you a profit of around 83% of the time.
2) Back the Beaten Favourite
Another good strategy for selecting a horse is the Back the Beaten Favourite method. This is a good one to add to your tips for betting on horse races arsenal. This is how it works: Usually, when a popular favourite is beaten in a race, public opinion often flows against this horse for the next race. As more people disregard this beaten favourite, online sportsbooks are naturally forced to increase the odds on that horse. If you want to use this strategy, then you go and bet on the beaten favourite for the next race.
Why? Anyone who has advanced knowledge in horse racing knows that even the best horses can lose, no matter how skilled they are. Because of this, you should look past a single, unexpected loss. Statistically speaking, beaten favourites have better odds, so you can use the Back the Beaten Favourite as a long term strategy to possibly realise more profit overtime.
3) The Dutching System
For those who love math and statistics, one of the best horse racing tips is to use the Dutching System. This technique was popularised by Al Capone’s bookkeeper, ‘Dutch’ Schultz. Schultz was known for rigging the numbers game in Harlem back in the early 1900s. He was described as a man of keen intellect, and often worked out methods of placing bets at the very last moment which allowed him to manipulate odds.
So how does the Dutching System work? In a nutshell, this strategy is used to make sure that you will make the same amount of money in each race, regardless of who the overall winner is. The Dutching System does need some calculations, but the idea is pretty simple. We will show you some sample calculations so that you understand how the technique works, but you can simply search online for a Dutching Calculator and let it do the math for you.
Dutching Betting Example
Let us say that there is an upcoming race between the following runners:
- Swift Flight (11/8)
- Rainbow Beauty (2/1)
- White Light Magic (9/2)
- Fresh Blue (9/1)
- Beta Philips (25/1)
To find out which of the horses to pick, we need to translate the odds to percentages:
- For Swift Flight: (11 ÷ 8) + 1 = 2.375 [Then divide 100 by 2.375 = 42.10%]
- For Rainbow Beauty: (2 ÷ 1) + 1 = 3 [Then divide 100 by 3 = 33.33%]
- For White Light Magic: (9 ÷ 2) + 1 = 5.5 [Then divide 100 by 5.5 = 18.18%]
- For Fresh Blue: (9 ÷ 1) + 1 = 10 [Then divide 100 by 10 = 10%]
- For Beta Philips (25 ÷ 1) + 1 = 26 [Then divide 100 by 26 = 3.85%]
Now, if you add all of these percentages together, the total will be 107.46%. Don’t be surprised, because the odds will always add up to greater than 100%, because the difference above 100% is the bookmaker’s profit.
In order for you to make a profit, you need to back the horses that are the favourites, and leave the underdogs alone. Why? When it comes down to statistics, the favourites give you the higher chances of winning. Using our example, Swift Flight takes up 42.10% of the market, closely followed by Rainbow Beauty at 33.33%. If you add these two percentages together, you get 75.44% of the total percentage of 107.46%. More specifically, you get:
(75.44 ÷ 107.46) x 100 = 70%
So if you are going to bet on Swift Flight and Rainbow Beauty, you have a 70% chance of winning profit!
Now that you have chosen your top two contenders, you simply have to divide your total stake between the two. How do you do it? You have to divide the amount proportional to the percentages.
Let us say for this example, you want to bet a total of £100 for the race.
- Swift Flight’s stake would be: 42.10% of £100 = £42.10
- Rainbow Beauty’s stake would be: 33.33% of £100 = £33.33
To compute your profit, all you have to do is multiply your stake by your odds. You will find that it doesn’t matter whether Swift Flight or Rainbow Beauty wins, your profit will be the same. Check it out:
- If Swift Flight wins: £42.10 x (11/8) = £57.89 [Then subtract your £33.33 stake for Rainbow Beauty, and your profit will be £24.56]
- If Rainbow Beauty wins: £33.33 x (2/1) = £66.66 [The subtract your £42.10 stake for Swift Flight, and your profit will be £24.56]
As you can see, no matter who wins the race, you will have the same amount of profit when you use the Dutching Method.
Final Thoughts on Horse Race Betting Systems
Horse race betting systems are great techniques to use if you want to amp up your wagering skills. But, as you may have also noticed, horse race betting systems are not full-proof ways of defying the odds and beating the bookmakers. If any of the underdogs win in the races, then the Statistical Lay, Back the Beaten Favourite, and Dutching method will not work.
Horse betting systems are designed using mathematical probability, which make them logical, but you can never be 100% sure of the outcome of a single race. These techniques are better for steady, systematic, long-term betting. So, if you want to have better chances of winning profit in the long run, you should try these out for yourself and see if it works for you!
Bet on those Ponies!
Now that you know these beginner and advanced horse racing tips on how to make wagers, you can start brushing up on your racing knowledge and math skills to start betting on the ponies and make some money! The suspense and thrill of knowing that a horse race can make you a bit richer definitely adds to the whole experience. You won’t be able to stop yourself from jumping out of your seat, pumping your fist in the air, and yelling “Go! Go! Go!” as your horse turns the last corner or the track and takes the lead.