Of course, nobody is happier about this than the bookmakers themselves. Thousands of newcomers placing bets left right and centre means they have never had it so good. While it is perfectly possible to reap some impressive rewards at the races, it takes time, knowledge and just a little bit of good fortune.
If you are a newcomer to the world of horserace betting, the following tips will get you off on the right foot and keep your bankroll intact for longer. And if you’ve been betting on the horses for years, you might still pick up a handy pointer or two.
Love it of loathe it, the internet certainly presents us with more detailed information on a wider range of topics than past generations would have believed possible. To a racing punter, information is everything, so use it to your advantage. The racing bet of the day at tipster site BettingPro.au will tell you where the experts are placing their wagers, and advice like that can be like money in the bank. The tips come in for races at venues across the globe, and there is no better way of finding your feet.
For the major races in particular, bookmakers start accepting bets weeks, or sometimes even months in advance of the race. There are pros and cons to getting your money down early. On the plus side, odds will typically be longer as there is a greater margin of doubt as to which horses will be in top form when race day comes around. If you are confident, it means you can get some great odds of, for example, 10/1 on a horse that will shorten to 3/1 by race day. Of course this is fraught with risk, and the later you leave it, the more confidence you will have of making the right selection.
Choose your race carefully
There are occasional punters who only bet on one or two races a year, and typically these are events such as the Grand National or the Cheltenham Gold Cup. These might be hugely exciting and prestigious races, but with a packed field, they are notoriously hard to call. For a better chance of winning, it is advisable to steer clear of the major events and look to a smaller race with fewer runners. Pick an open race with 10 – 14 runners and a favourite at around 9/2 as a good starting point. That way, you can place a relatively small wager and still come out with a nice win.
Monitor your progress
Horse racing is complex, and the deeper you go, the more nuances you will find. Perhaps the most important piece of advice is to keep track of your own performance. Log your wagers, along with the odds, and be honest with yourself about how much you are winning or losing. You will soon start to identify what is working and what isn’t and from there, the only way is up.