How To – Horse Racing Betting in Australia
If you’ve ever wanted to know how to bet on horses, you are in the right place. We’re going to show you how horse racing works, and we’ll even give you a quick ‘how-to’ horse racing betting guide to get you started. While just about anybody can get lucky with a flutter on thoroughbred racing, once you know how bet horse racing works, you’ll find that you can pick up more consistently good results.
- Know the past form of the runners
- Understand the going of the racecourse
- Check the long term weather forecast
- Identify the most generous horse racing odds
- Use the best bet types at your disposal
Guide to horse racing betting
There are many different things that go into knowing how to bet on horses. After all, nobody is going to be able to win their bets on thoroughbred racing even if they know how horse racing works inside-out. This is because there are so many variables that go into each horse race that it is virtually impossible to know exactly what’s going to happen.
Despite this, with some common sense knowhow bet horse racing can be fun and you can even make some decent profits along the way. So we’ve prepared a quick ‘how-to’ horse racing betting guide below. This will identify some of the key things that you should be thinking about when you want to bet on a thoroughbred race.
Understanding past form of the runners
The first thing that you’ll need to know when you want to understand how to bet on horses is that you’ll have to see how likely the chances are of all of the runners in a given race winning. This means that for a race like the Melbourne Cup, you may have to know the form of over 20 different racehorses.
Thankfully it’s fairly easy to do a little internet research to see how each runner has performed over the past few races. Once you have seen how horse racing events in the past have gone down, you’ll be much better placed to know what could happen when your chosen thoroughbred race takes place.
Identifying the favourites
We can’t have a how-to horse racing betting guide without talking about favourites. These are those runners that bookmakers and analysts think have a good chance of winning the race. This will be based on the past form of the given racehorse over the past year and beyond.
Just because a particular racehorse has been earmarked as being the favourite doesn’t automatically mean that they are going to win the race. Plus even if you’d bet on the favourite and they won the race, the amount of money you’d make from your bets might not be too impressive. This shows how you’ll want to balance up how likely a racehorse is to win with the amount of money you’d make from your bets.
Spotting a promising outsider
Once you know how bet horse racing works, you will want to find those racehorses that look like they could win the race and still have odds that are worth betting on. By doing so, you’d be able to get a decent profit from your bets, although obviously there is a greater chance that you might lose your betting stakes.
The only way that you are going to spot a promising outsider is to try and out-think the bookmakers. This isn’t going to be an easy task as all good bookmakers put in plenty of time and effort into formulating their odds. But once you know how horse racing works and do plenty of research into the past form of all of the runners, you’ll be well-placed for seeing when a shock result could be about to happen.
Hunting down the best odds
Any how-to horse racing betting guide is going to need to take a close look at odds. After all, it’s the odds that you are betting on that will determine what kind of winnings you make should luck be on your side.
Odds refer to the likelihood of a particular event happening in a horse race. The key is to find that bookmaker who has the most generous odds that give you the biggest possible payout should you win your horse racing bets. While it might take a little time to shop around for the best odds, even the slightest edge in the odds can help to transform a decent win into a spectacular one.
Seeking the best value bets
With a good understanding of how bet horse racing functions, you might want to try different kinds of betting options. Most newcomers to racing betting will be happy enough just to put down a single bet which means betting on the winner of the race.
However, you could also try an each-way bet. This allows you to pick a winner and a racehorse to place which gives you a better chance of not losing your bets, although you might get less in the way of a payout.
Once you really know how horse racing works, you might want to try an accumulator bet. Here you have to try and bet the winners of multiple races for you to win your bet. It’s not easy to win this kind of bet, but the winnings that you’d make can be spectacular.
Checking out the going
Like many other sports, all horse races will be affected by weather conditions. As a result, we couldn’t miss out ‘the going’ from our how-to horse racing betting guide. The going refers to the ground conditions at a racecourse.
You will find that different racehorses tend to prefer running in different kinds of going, and it’s essential to factor this into your bets. Whether it’s firm, good, soft or heavy, the various kinds of going can dramatically affect the outcome of a race.
This is just one of the reasons why researching the weather conditions can be hugely important before you put down your racing bets. So if you want to know how to bet horses, then you’ll have to spend plenty of time watching those long-range weather forecasts.
Calculating your betting stakes
All experienced horse racing betting fans will know that money management is key to making sustained profits over the long terms. After all, it’s inevitable that you’re going to lose your horse racing bets every now and then.
So it’s always a matter of thinking carefully about how much you bet on each individual race. There are plenty of convoluted horse racing betting strategies out there that come up with complicated systems for walking away with a profit.
But we would always advise you to bet with small stakes to begin with. By doing so, you would be able to handle that inevitable loss, and still have some money left to play with on another race.
There’s nothing worse than betting with money that you don’t actually have for making some silly mistakes with your horse racing bets. Betting with your head rather than your heart is key to getting long-lasting success when betting on the horses, so always bet with money that you don’t mind losing for the best way to avoid making an overly emotional bet.
Using any available bonuses
We should also note that many online bookmakers will have special offers that can be a great way to get more from your bets. These could include things like matched deposit deals that can give you extra betting funds for many different kinds of sports.
However some betting sites will go a step further and give you enhanced odds for specific horse races, or you might even be able to find losing bet refunds for thoroughbred racing. Just remember to read through the terms and conditions for these promotions first to make sure that you know what you are signing up for.
What other betting guides & strategies are available?
We won’t just show you how betting on horse racing works, we can even help you find those bonuses that can boost your profits on the sport. Plus with some overviews of the best strategies and ways to find the most generous odds, you’ll have everything you need to know about how to bet on horses and win big.
We hope that we’ve given you an easy way to understand how to bet on horses. Now that you know how horse racing works you’ll be able to see that it’s not so hard to go about picking a winner.
While our ‘how-to’ horse racing betting guide won’t be able to help you win every bet you put down, it’s all about avoiding those daft mistakes to ensure that you don’t let your bets go to waste. Plus now that you know how bet horse racing is fraught with risk, you’ll be able to anticipate those inevitable losses to still make a decent profit over the long-term. Now that you’re set up to start betting on horses, head over to our Best Horse Betting Odds Australia page to find the best deal.