How to Bet on a Horse Racing Winner

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Spring is in the air and horse racing season is upon us… people are scouring the different betting sites looking for the latest prices, looking to see what bets and odds are available for the favourites, scouring through Gold Cup odds to see where the best value lies.

And why not? Betting on horse racing is something that can’t be beaten – where you need just the right blend of skill, strategy, and a bit of luck to pick the winner. 

However, whether you’re a beginner or you consider yourself a bit of an expert, you need to make sure you understand the various aspects of horse racing to give yourself the best chances of picking a winner. 

So, with that being said, here’s a look at how you can up your game at horse racing betting.

Understand Horse Racing Odds

Horse racing odds are literally the cornerstone of everything – so before you even think about placing a bet, you really have to know horse racing odds work. 

The odds are basically the likelihood of a horse winning and tell you what the potential payout would be if they do win – and they can come in three different formats. 

The most common way in the UK is fractional – e.g., 5/1. In the rest of Europe it’s usually decimal – e.g., 6.00, and in the US it’s moneyline format  – e.g. +500. Basically, the lower the odds, the higher the chances of winning… but with a smaller payout. Meanwhile, going for a horse with higher odds is a riskier bet – but with bigger win potential.

Different Types of Horse Racing Bets

There are also different types of bets you can place on horse racing – not just simply betting on the winner. You need to decide what type you’re happy to go for based on your knowledge, experience and risk-tolerance. Here are some of the most popular ones:

  • Win Bet – The most popular type of wager where you’re just betting on a horse to win the race.
  • Place Bet – Your horse will need to finish in the top two (or three in some races) to win your bet.
  • Each-Way Bet – This is a combination of a win and place bet – and you win if your horse finishes in the top places.
  • Exacta – A bit tougher… as you’ll need to predict the first and second-place finishers in the right order.
  • Trifecta – Tougher still – as you need to try to pick the first three finishers in the right order.
  • Superfecta – Want to go really tough? Think you can pick the first four finishers in the exact order? You can get serious rewards if you can.
  • Accumulator – Another big payer… this is where you place bets on more than one race in one big bet – and they all need to win to get the payout.

What to Think About When Betting on a Winner

Here are the main things to think about when trying to land that big horsey win…

Study the Form Guide

Looking at a horse’s recent performance is one of the most important things you need to do when trying to choose the winner. Look at:

  • Its most recent race results
  • The track conditions in its previous races
  • Its historical finishing positions and the competition they faced
  • Have there been any improvements or declines in form?

Analyse the Jockey and Trainer

Look for experienced jockeys and successful trainers that have a track record of winning. Look at their statistics – including their win percentages, how they perform in major races, and their history with certain horses.

Track Conditions and Race Distance

Different horses do better under different track conditions, i.e. firm, soft, muddy, or heavy, etc. Some horses are better at certain distances, while others struggle with it. Look to see how your horse has performed under similar conditions in some of its past races.

The Horse’s Starting Position

In some races, a horse’s starting gate can have a huge impact on its chances. In a short sprint, inside positions can be better, while being drawn wider can be better for longer distances.

Weight Carried

A horse carrying a heavier weight may have trouble compared to one that’s carrying less.

Common Mistakes to Avoid

That’s what you should be doing… and here’s what you shouldn’t!

  • Betting on Every Race –Be selective and bet only when you’re reasonably confident and find a good value bet.
  • Ignoring Track Conditions – A horse might be great on firm ground but struggle in wet conditions.
  • Chasing Losses – Losing streaks happen, don’t try to win your money back all at once!
  • Relying Too Much on Favorites – Favourites only win around 30-35% of the time, and don’t always offer good value for money.

So, there you have it! Hopefully you’re ready to start making those horse racing bets! Good luck!