Any horse race worth betting on will always have a certain degree of uncertainty to it, as that chance factor is essentially what betting is centred around. As any veteran in the game will tell you though, there are ways to improve one’s odds of winning with strategic planning. As to what those strategies are, we will go over six of the most important ones next.
Know the Types of Horse Racing Bets
There are more than two dozen different types of horse racing bets and knowing them all in their entirety is essential to decipheringa perfect betting planbefore each race. After getting to know how the different bets work in horse racing stakes, find out whichtypes ofbets are allowed by your bookmakerregarding the horse races you have in mind.Get started by checking outthe list below as these three are some of the easiest horse racing bets to build a betting strategy around:
- Trixie: 3 double bets + 1 treble bet with the condition that at least 2 of the 4 bets must be winners.
- Patent: 3 single bets + 3 double bets + 1 treble bet with the condition that just one of the 7 bets must be a winner.
- Yankee: 6 double bets + 4 treble bets + 1 (4x) accumulator with the condition that at least 2 of the 11 bets must win.
Deciphering the Best Bet Plan
To decipher the best betting plan, you should have a clear understanding about how to place multiple bets on different races in such a way that the odds are tipped in your favour. This plan should account for losses as well because no punter can pick all the winners every time.
A successful betting plan is one where the gambler will ultimately win more money than they originally staked, even if they lose a portion of their total number of bets. It will not always happen, but you will get better at it with some practice. Instead of using all your own money when you are still learning, get better at it while making use of these new customer free bets offers on the Cheltenham Festival races in March.
Minimum Win/Loss Strategy
When you are just starting out, it’s best to treat the initial days as your learning period. Adopt a minimum win/loss strategy at this time which keeps you from losing a large chunk of money, albeit at the cost of not having a chance of winning big either. Smaller risks equate to smaller rewards, but that’s a perfect strategy when you are still learning how to strategize and win big. There are just two core rules to this one:
- Always bet on a favourite horse with high odds of winning (lower returns)
- Keep each bet and the total amount staked close to the minimum
Understanding the Advantage ofEach-Way Bets
An each-way bet is essentially any type of horse racing bet that pays out as long as your selection(s) end up ranking. However, each way bets are essentially two-bets-in-one.So, the initial investment is higher with this strategy, but the risk of loss is significantly lowered. To elaborate, you will be placing two bets on a single horse in the same race:
- Bet 1 can only be a winner if your selected horse places 1st
- Bet 2 will be a winneras long as your selected horse ranks
- The amount will always be equal for both Bet 1 & 2 in an each-way bet
Maximising a Double with an Each-Way Betting Strategy
Consider a simple example where you have placed £20 in an each-way double bet. The breakdown would be as follows:
- Bet 1: £5 + £5 on both Horse A (8/1) and Horse B (10/1) winning in their respective races (the straight win bet)
- Bet 2: £5 + £5 on both Horse A (4/1) and Horse B (6/1) ranking in their respective races (the placement bet)
If you win Bet 1, then you automatically win Bet 2 as well.In that scenario, you can potentially win as much as:
- £5 x 8/1 from Horse A = £40 (Bet 1 winner)
- £5 x10/1 from Horse B = £50 (Bet 1 winner)
- £5 x 4/1 from Horse A = £20 (Bet 2 ranked)
- £5 x 6/1 from Horse B = £30 (Bet 2 ranked)
- Maximumpossiblepayouthere would be £160 (£140 + £20 original stake).
Sincethis is an each-way bet, you will still be receivingat least£50 (£50 winnings + £10 original stake – £10 lost by losing Bet 1) from Bet 2 alone, provided that both Horses A & B are at least ranked in their respective races.
Reading the Odds: Higher Odds = Bigger Bets?
Veterans rely on underdogs (horses!) with high odds. For example, if you bet £5 on A Plus Tard to win the Cheltenham Gold Cup 2022 with a standard 3/1 or 7/2 odds, you can only profit £15 or £17.50 from that bet. On the other hand, if you take a risk on the underdog Al Boum Photo (10/1 standard), you may win 10 times your original stake, which is £50.
As you are trying to keep things simple and your losses minimal during the learning stage, bet bigger on horses that are the most likely to win/rank. This increases your chances of winning something back exponentially, turning even a more expensive, each way bet into a low-risk stake.
Experience is what hones your skills in any game, and the game of picking the winner in a horse race is not an exception either. With a bit of practice, observation, and experience, you should be able to improve on the horse racing betting strategies we just discussed, as well as add some of your own to the repertoire.