Successfully betting on horse races with any stability is a more difficult endeavor for any gambler to undertake. How to bet on horses is something that you need to know to be successful.
Read this article to get a better understanding of how to bet on horse racing, how to avoid any beginner mistakes when placing your bets, and how horse racing could become your new hobby.
How To – Horse Racing Betting in the US
Listing of All Available Guides
Why Are Betting Guides & Strategies so Important?
Horse racing offers one of the biggest sports betting markets globally, and popularity is ever increasing in the U.S. The main reason horse racing gained popularity is not the actual horse race but the betting thrill that it brings.
Whether you’re a high roller looking to stake thousands of dollars on a race — or a novice speculating on a major competition like The Kentucky Derby — there are things that horse race bettors can do to gain an advantage and the best chance to win.
Learning how to bet on horses, especially for beginners, can assist gamblers in starting on the right foot and avoiding many growing pains that new horse bettors tend to encounter. The following tips will help bettors to stick with a strategy that can win in the short and long term.
Some may suggest that horse racing betting systems are a myth, but that isn’t true. Guides can help bettors learn how to bet on horse racing.
Who Should Make Use of the Guides?
Whether you’ve been to the track before or not, you’ll know that horse racing and betting go hand in hand. If you’re new to betting or a casual player, then a strategy guide on how to bet on horse racing and win is the way forward.
Betting guides aren’t solely targeted for beginners, and there are many versions and expertise levels available. Any bettor wanting to win at the horses needs to review the data available to them, and if not following an existing strategy, they should start to form their own.
Betting Guides & Strategies
The Basics of Betting
One of the main reasons that people don’t get involved in betting on horse races is that they don’t understand how to bet on horses and all the different bets and variations available.
Analyzing a race to predict the most likely outcomes in horse racing is known as handicapping.
Betting odds represent the probability of an event happening. They are expressed in three different ways, fractional, decimal, and moneyline. Fractional is most common in horse racing and lists as, for example, 3/1 (read: three to one).
Each horse racing betting option has different returns you’ll get based on the wager.
In the U.S., most states that allow horse betting use a system called parimutuel in which all bets of a particular type are placed together in a pool. After deductions, the money is shared between winners. This means that odds aren’t fixed, and bettors won’t know what they will win because as more people bet, the odds will change.
Fixed Odds Betting
Fixed odds betting is standard in the virtual world, and most betting sites use the fixed odds system. The pay-out is agreed at the time the bet is placed and won’t change.
There are two main types of exotic wagers that affect how horse racing bets occur; those that include betting within one race (horizontal) and those that involve betting on several races (vertical).
Money Management and Bonuses
Allocate a Budget
Set aside a budget to spend that is over and above your costs of living. Gambling funds should be seen as entertainment expenses.
Deposit and Withdrawal Options
Check methods of deposit and withdrawal at each website as each one differs. Also, how you deposit funds may not be offered for withdrawing funds.
Most online sites offer a broad range of races, tracks and provide reasonable offers and incentives to bet. New members are sometimes offered up to $500 matched deposit, risk-free bets. If you’re an avid bettor, you can register on as many sites as you want.
Always read the full terms and conditions before signing up for a new site, particularly if you’re joining for certain features. Many bonuses aren’t quite what they appear to be at first glance, and learning how to bet on horses includes learning how to understand the small print.
VIP Loyalty Programs
Joining several sites is good to apply for the bonuses. However loyalty programs work best when you keep most of your bets in one place. VIP and loyalty offers will differ from website to website, and it’s a good idea to do your homework before expecting any fancy prizes.
Understanding Betting Strategies
The Top 5 Betting Strategies
1 Understand the Race Card
Studying the race card and how to use the information to your advantage is necessary for success and to know how to bet on horses.
2 Laying the Favorite
This term means to bet against the favorite as a more profitable bet.
As mentioned, don’t go over the amount of money you set aside each week or month, possibly depending on the frequency of your income. Funds should be over and above any essentials and constitute leisure activity, which you’re happy not to get back.
4 Choose Your Races Sensibly
Don’t bet on a race just to bet. Part of learning how to bet on horse racing means you need to think through every wager. It may mean not betting on races that are tough for you to call, as well.
5 Don’t Pay for Betting Strategies
If there were a fool-proof strategy that made millionaires, no one would sell it. There are plenty of how to bet on horse racing guides and strategies available online, which don’t cost anything.
Useful Betting Knowledge
Is Betting Better Online?
Purists might argue that there’s nothing better than live horse racing, but as many shift to online gambling, the benefits are showing.
Generally, when you bet online, you get full track odds as wagers are combined with live bets at the track. You can use bonuses to compliment wagering and register to as many sites as allowed, giving you access to many more races and better odds.
Should I Pay Taxes on My Winnings?
Gambling winnings are considered to be taxable in the U.S. All winnings should be reported, and if you win over $600 at the races, you should be issued a Form W2-G.
Is Betting Legal in the U.S.?
U.S. states vary on whether horse racing betting is legal or not.
There are 38 U.S. states which allow online horse race betting. The twelve that don’t allow online betting are Alaska, Georgia, Hawaii, Mississippi, Missouri, Nebraska, Nevada, North Carolina, South Carolina, Texas, Utah, Washington D.C.
Betting Guide FAQ
Q1: Will I Make a Daily Profit?
Strategies teach how horse racing betting can be profitable, but bettors don’t win every time. Using a strategy efficiently should mean an overall profit, at least over the long term. Learning how to bet on horse racing will up-skill your abilities for the sport.
Q2: How Much Research Should I Do?
The central aspect of each betting strategy underlines the necessity to think cautiously about betting and take time to do so. If horse race betting is a real passion and possible hobby, bettors should expect to spend full days at, or watching, races to start analyzing and strategizing.
Q3: What Patterns Should I See?
New bettors can see what odds and numbers the winning horses had, what their advantages were, and what patterns emerge.
To see how horse racing betting patterns turn into profits, bettors should also understand what influence jockeys, trainers, and bloodlines have on horses’ accomplishments. Having formed a robust framework of reference regarding the data, bettors should start to test their discoveries by betting on races.
Q4: What Are the Best Odds?
Determining betting odds can be tricky, especially when it comes to the parimutuel system. The best way to help you understand how horse racing betting odds work, keep using guides, check win rates, and use online odds calculators.
Q5: Can I Make Myself a Millionaire?
Reading how horse racing betting makes people millions is likely to leave you wondering why you can’t do it too. There are so many variables that even using tried and tested strategies will result in losses at some point. There’s nothing wrong with having a goal, but also be realistic and stick to your budget.
Strategies can teach you how horse racing betting can be profitable, whether at the track or online. Technically, by checking out all odds, reviewing all tracks, and using bonuses or daily deals, you’ll likely come out ahead online as opposed to the track.
If you’re a novice, then do plenty of research and practice with small wagers, increasing slowly as your knowledge increases. This way, you can reward yourself for your expertise.
If you don’t want to follow someone else’s guide, work out your own strategy for how horse racing can make you successful and, ultimately, have fun while you do it.