Horse Racing Strategy 2023
The importance of strategy
Across all walks of life, some people seem to be better at certain things than others, and the main reason for that is that some people have a strategy while others play catch as catch can.
This is especially true within the world of gambling, because there is no doubt that choosing the best horse racing betting strategy will give you an advantage, and we at HorseBetting.com are here to help you choose that strategy.
Why is horse betting strategy so important?
In theory any bet can turn out to be a good one, but employing the best betting strategy for horse racing can significantly increase your chances of seeing a return.
Whether you’re new to betting or a regular punter, using the best horse betting strategy will help you to make a more well-informed wager, which in turn will help you to beat the bookie.
Knowing how to use the odds to your advantage, or when an each way bet would be best, could make a world of difference to your chances of success, and our guide to the best horse racing betting strategy will help you decide.
We all need a strategy
For the majority of us placing a bet is a way to enhance our enjoyment of the races, with the added bonus of maybe winning a few dollars at the same time.
But for some experienced punters the act of betting is a little more serious, and many invest a good deal of time and effort in horse betting strategy to improve their chances of making a profit.
The truth is, whether you’re a novice or an old hand, strategy is vitally important, and the best way of increasing your chances of success in the long term.
Most people would agree that forewarned is forearmed, and when it comes to horse racing betting strategy, the more you know the better your chances of making that well-informed wager.
Best horse betting strategies
The basics of betting
Placing a bet
Betting is as old as the hills, and entails paying a specified amount to make a prediction about the outcome of a race or contest of some sort, then receiving your initial payment back, plus an extra amount should your prediction prove to be correct.
Nowadays one of the most popular sports to bet on is horse racing, where modern punters employ horse racing betting strategy to achieve the best results.
Knowing the odds
Betting is also defined by the ‘odds’, which essentially relate to how likely a certain horse is to win given certain conditions.
Knowing the odds allows you to work out how much you will win if your chosen horse is successful, and can guide you on the best horse betting strategy.
Pre-match and live betting
Though it is probably fair to say that most horse racing betting strategy is based on placing a bet before the race begins, the practice of live (or in-play) betting is growing in popularity.
Live betting is generally more common in sports such as football, rugby, basketball etc., where you can place your bet during a match depending on how the action is developing, though many bookmakers now offer similar opportunities for horse racing.
Different ways of betting
As you would imagine, there are a myriad different ways of placing a bet, and all the best horse betting strategies will take into account the various options available.
Popular betting types include:
- Single bet: This is a straight bet on the outcome of an event, where the returns depend on the amount staked and the odds on offer. The higher the stake the higher the potential winnings, but if the selection loses the bookie keeps the stake and returns nothing to the punter.
- Accumulator bet: This refers to a single bet that consists of four or more selections. The most important factor in this kind of horse betting strategy is that it will only pay out if all selections do as predicted within the bet.
- System bet: The main difference between system bets and some other types of wager is that you can still see a return from a system bet even if some of your selections don’t win. This is why it’s considered by some to be one of the best horse betting strategies.
- Each way bet: This essentially means two bets of equal amounts which are made on the same horse, one for the horse to win and the other for the horse to place, i.e: finish in the top three or four. A $5 each way bet would cost $10.
Money management and bonuses
Betting to a budget
People new to betting and online gambling are often tempted to dive right in without first setting themselves a budget, and the best advice is, don’t.
Regular punters will have discovered how important it is to allocate a gambling budget and stick to it rigorously, as this allows you to be in control and thus significantly increase your chances of success.
Having allocated yourself a weekly or monthly budget you can keep track of your financial situation and spending patterns, allowing you to make adjustments if necessary.
You should also look at the deposit/withdrawal options with your chosen bookmaker, where you may find you can install a maximum deposit limit on a daily basis.
You should also be aware of things such as bonus wagering, i.e. where you are offered a bonus of some sort to join a gambling site, but must continue to bet up to a specified amount before you can release any returns on winnings.
In addition, wagering requirements can be subject to an operator’s sometimes numerous terms & conditions, and it is important that new bettors familiarise themselves with these before making their choices.
On the plus side, many bookmakers offer a variety of VIP and loyalty schemes, through which regular punters can benefit from a whole host of rewards and extras while betting online.
Understanding betting strategies
The best horse betting strategy for you
As we have already established, strategy is the key to betting success, but how do you choose which are the best horse betting strategies for you personally?
There are numerous different types of wager you can make and widely differing views on the best horse betting strategies, and it’s worth doing your homework to find the one (or ones) that best suit your needs.
A saver bets each way strategy could be right for you, where even if your selection loses you could still get a return if it finishes in one of the specified places.
When betting on a big field handicap you need to be aware that it could be advantageous to hedge your bets, but how do you do that?
It may be that in certain situations your best option is a pick 6 horse racing strategy but you need to know how that works and when to use it.
Is it better to place your bet before the race starts or to use an in-play horse racing betting strategy to achieve the best result?
Whatever your choices we’re here to find the best horse racing system for you.
Useful betting knowledge
Although betting is legal in Australia the regulations can vary from region to region, so it’s a good idea to go online and check the details of the legislation in your particular state or territory.
Online or offline betting
The question of whether to bet online or offline is largely one of personal preference, but there are some factors worth considering.
The truth is, both systems are open to abuse by scammers, and whichever method you chose, the best way to stay safe is to do your homework before committing yourself, including your horse racing betting strategy.
There are many trustworthy bookmakers both online and offline, so look at the type of bets they offer, what sports you can bet on and read any customers reviews you can find.
Will I pay tax on winnings?
In Australia the winnings from betting are not taxed, as gambling is regarded as a hobby or recreational activity and not as a profession.
Conclusion: Strategy is key
Placing a bet without employing the best horse betting strategies has for some people paid serious dividends, but it’s a little like throwing a stone in the ocean and hoping it will hit a fish. In other words, you’ll lose far more than you’ll win.
To have any real chance of success you need to have a strategy, and that strategy must be based on your knowledge of such factors as the odds, the best type of bet, the number of runners and whether your selection likes the going hard or soft.
In short, gambling without a strategy is like applying for a job without a CV, and your chances of success are probably about the same. When it comes to betting, strategy is key.