Betting on horse racing is something that many people love to do all over the world. The sport itself has long been associated with gambling, and whether you are trackside or sat at home with your mobile device, you will be able to get a bet on many different races from all over the world. Something that many people want to know is how you make a profit from betting on horse racing, and that all comes down to many different things. Betting on the right horse is of course one of the most important, and this is where your hard work will pay off.
Bet Prepared to Study
This is key to being successful when you place your horse racing bets. You need to have time to study and look back through the form of many different horses. For those who bet on a sport such as football, there are only three possible outcomes in a game. However, with horse racing this is often into double figures and some of the biggest races have 20+ runners in them. This creates a lot more studying for you to undertake compared to a football game.
This is one of the reasons why there are so many betting sites that offer tips to their customers, they do the studying for you. At big worldwide horse racing events, you will have no problems finding some great tips to follow such as the 2020 Cheltenham betting tips that are currently available for their big festival in March.
These tips can either be used alone, without any further study or they can also act as a starting point to help you work out the race from a specific angle. They key to them though is certainly time, and the amount of time they save people who simply don’t have it in their lives due to family commitments, work and many other things.
Have a Staking Plan
While the key to successful betting on horse racing involves picking the right selections, it is not the only thing to think about. Your stakes are key to making a profit, and if you have bad staking with good selections, you could still find yourself at a loss.
When it comes to staking bets you need to keep things at a similar level, and also take emotion out of the equation. For example, if you have had five winners in a row then you shouldn’t up your stakes because you believe you are on a good run. The same goes for the opposite, don’t up stakes because you are due a winner after five consecutive losses.
Even the best gambler in the world will go on losing streaks from time to time and this is when your discipline is tested to the limit. At these points you need to trust in your ability to pick winners and keep your stakes as you normally would because eventually it will turn around.
You don’t have to keep stakes strictly the same, and some staking plans have different staking levels depending on how much you fancy the selection to win. These are fine and used by many people, with the key being that the stakes are all in relation to each other. The issues come when you irrationally change stakes just because you have more money in your pocket, or because you have had recent winners. This is not the disciplined way to bet, and if you back a loser when you increase your stakes then it will have a bigger effect to your betting bank than it should do.
Stick to What You Know
This is another area where many punters fall down. It is vitally important to stick to what you know. For example, if you are a big UK horse racing fan then you will be betting on the Cheltenham Festival in March, the pinnacle of the year for many. Those who are big American racing fans will be looking forward to the big meetings there such as the start of the Triple Crown, while there are many other big worldwide races taking place such as the Dubai World Cup for others.
Betting on horse racing is the same regardless of which country you live in and which racing you watch on a regular basis. However, that is only the case if you stick to what you know, and don’t look elsewhere. This is where mistakes will happen, because you are not as well informed on these races, because you don’t follow them and those taking part as you should.
There are many horse races that take place all over the world every day, too much for one punter to cope with. Instead you should be looking to make yourself an expert in just a small part of the horse racing world and focus on that.