Betting on any sport involves some risk. There’s no getting away from that. However, to be something more than the occasional punter is possible. Consistently winning is possible. Even if you take a loss from time to time, there are plenty of people out there who can make real money on the horses. So, from a beginner to a pro, we’re going to look at how you succeed at betting on the races.
Know the terminology
For someone who is new to the sport but wants to start winning money, you have to ingrain yourself in it. You have to know the culture as well as the vocabulary. Knowing the difference between across the board and on the nose is just the start. You have to know why added money is a big deal when it comes to a bet. Look at things like racing glossaries to start getting a better understanding on what to spot in a bet.
Spotting good odds
Of course, if you don’t know how good odds work then all the terminology in the world won’t help you. Being a successful better is about being able to read the odds. To take emotion from the equation and act on numbers. You also need to be able to know what the fractions mean for your winnings. As well as whether certain odds truly show whether a horse is capable of winning or not.
Get into the history of the horses
It’s also important to know the knowledge that goes behind a bet. If you’re following numbers and numbers alone, you’ll only make incremental profits. When the opportunity could be right there to make big money. You have to know more detail. In particular, you want to know more about the horses. About their racing history, records and accolades. Get to know some of the big names that could keep reliably winning you money, as well as the up-and-comers that are worth taking a chance on.
Keeping up to date on the tips
You should always be willing to accept that you don’t have the full story on any race. Betting on the races is about more than the odds and the horses. It’s about being able to spot opportunity. So you should keep an eye on the places where those opportunities can arise. Don’t just follow the sport, follow the tips for horse racing that could really point you in the right direction.
Moving on to investing
Once you start to really make money, you might find that you have more to put towards your betting. If you’re okay with the risk and you have enough, then the next level is a syndication. This means actually investing in the ownership of a horse and getting a good deal more of the winnings back in return. Of course, with syndications more than anything, it takes a lot of prep work to choose the right horse.
No bet is a sure thing. It depends on the person as well as the results of the races. But so long as you keep building your knowledge, your chances significantly improve.