Horse race betting is exhilarating, whether you are betting on the Kentucky Derby or looking at Breeders cup picks, either way, it can be a super fun way to spend some leftover cash. However, you have to be cautious about your spending. While horse race betting is a great pass time, it is still gambling, and any gambling can be dangerous if not handled responsibly.
Gambling of any kind stops being enjoyable when you start to lose money, beyond what you can. It turns it into a stressful situation that you cannot handle and ruins the run of the race.
So, how can you bet sensibly while at the track, and keep horse race betting enjoyable?
Note!:- Always be mindful of your bankroll.
The biggest factor here is to always be mindful of your spending. Your bankroll is a selection of money that you designate specifically towards your gambling hobby. If you go to the track, take this out in cash and do not take your bank card with you. This way, you are only spending the money that you can afford to spend. If you bet online, set a limit to ensure you do not go over.
And always remember, if you lose, do not keep on betting trying to win back your losses, this is just a recipe for drilling a hole in your finances.
You can set a bankroll for one event, a month, a season, or a whole year. Whatever you do, simply do some basic mathematics that will help you calculate what amount is viable for you to spend on each race without you going over your budget.
Smart betting is all about budgeting and managing your finances.
Research your bets.
Always research your bets. Take a look at the track, the weather conditions, the condition of the horse, take a look at the horses’ history.
Some horses are better on flats, whereas some are better at hunt racing. Some horses fare better on muddy, wet ground, whereas others do best on dry earth.
Check the horse’s history and see what their forte is, how they fare in different conditions. Also check to see what their race history is like, if they’ve been running their races previously, have they come in the top three? Any horse that comes in the top three in recent races is a good bet.
Consider the jockey, too, as well as the breeder and the owner. If you can look at the breeder and find out their average of winners, you can wager an educated guess on the likelihood of this horse winning, too. Some breeders will breed many winners, others, not so much.
Gamblers rule- accept a losing streak.
A rule applies in all gambling. Sometimes you’re just having a bad day, in these cases, you may feel compelled to keep on betting in the hope that your chances will change, and you will start winning soon. However, this is not true, and if you are successively losing on horses, take a break, go home, and return to the track another day.
If you keep on betting, you are in danger of spending all your bankroll, and you may have none left for the rest of the races. So, go home, save what you have left, and put it towards races when you are having a better day.
Betting at the track.
If you are a newbie at the track, make sure you do your research, understand the terminology, because there is a lot to get acquainted with. It may take a while to learn.
Now, at the track, there are two types of bets you could make, Straight wagers and exotic ones. Straight wagers are the simplest as you’re simply picking one horse to win, come in second or third. A traditional bet amount and the one with the most payouts and winnings are calculated using, is around 42. You will be locked into that when you bet, however, tracks have broader betting options now, meaning that you have options that are above this also.
You can realistically bet whatever you want, just remember that payouts can change proportionally, so if you were to bet $4 you would get double, however, if you bet $1 you would get half.
Then there are exotic wagers, where you can place multiple bets on multiple horses for many outcomes. While the risk is higher, and they’re harder to win, the payout makes this more appealing to some punters. Just remember, whatever you do… look after your bankroll.