If you want to make a long-term habit of handicapping and betting on horse races, you’ll soon realize that it’s a job that requires you to learn and adapt constantly. Such is the essence of pari-mutuel wagering, where you compete against your peers.
1. Get ready
It will appear easy, but you must prepare ahead of time by handicapping the card, so you know going into the day which races you have the most confidence in. You don’t want to get to the last or second-to-last race on the card and discover the horse you’ve been following for the whole day after having already spent 90% of your budget.
America’s Best Racing/Penelope P. Miller
2. Plan ahead of time.
This is the most difficult part for me because, like most gamblers, I enjoy the thrill of betting on the races I watch. It’s difficult and requires patience to pass on a race, but if you like a lot of horses on a card but just two or three of them, you can bet the majority (or all) of your bankroll on bets centred on the horses you care about the most.
Why would you bet $10 per race if you have a $100 budget for ten races and have listed your best bets? If you have a favourite two or three horses, build a plan around them or bet the majority of your bankroll on them to win if you’re spending the day at the track and want to gamble on every race, bet just a few dollars on the races where you don’t have a strong opinion and save the majority of your budget on your top plays.
3. Make a Price Demand
Finding horses that seem to be almost slam dunks to win has importance, but so does skipping the race entirely or spotting longshots to fill in underneath for exactas, trifectas, or superfectas well as around for multi-race wagers like the Pick 4.
4. Place a Winning Bet
When I’m not playing exotic bets, I almost exclusively bet straight win bets. I spent a lot of my early betting days making across-the-board bets, particularly when I landed on a longshot. While there’s something to be said for being rewarded when a bomb clunks up or holds on for a minor spot, I’ve come around to betting almost exclusively straight win bets. You just need one winner to make a nice profit if you place three substantial win bets on horses at a good value. If two-thirds of your money is invested in place and show bets, you will need all three to succeed.
5. Aim for the stars
One of the reasons I enjoy playing exotic bets, especially trifectas and Pick 4, is that you can win a lot of money. Compared to sports betting, the allure of horse racing is the opportunity to win a fortune without losing the same fortune. Try to think of new ways to use your best bets to make the most money, and if you can’t come up with a winning trifecta or multi-race wager, you can still fall back on the straight win bet. However, if you connect a few reasonable prices around or beneath an 8-1 top match, you might be in for a big win.
