Horse betting began when the ponies started galloping with a man aboard. For the record, the horses have been running for over 45 million years. History says it all—horse racing has emerged into a sporting event with many fans worldwide.
Horse betting is now allowed in various professional race tracks around the globe. The number of bettors has increased exponentially along with it. Of course, one of a bettor’s goals is to earn profits, so if you’re thinking of the same purpose, you’re reading the right page now.
Is Horse Betting Profitable?
The annual revenue of horse racing could reach billions of dollars. The breakdown of this revenue could disappoint unskilled bettors. As you can see, horse racing is more than a form of entertainment; it’s mostly a business where the racing venues are the owners.
In the racing industry, the race hosts received the most significant share. Moreover, the horse owners, trainers, and jockeys are benefactors too.
You can’t expect a hefty amount of profits unless you’re a bettor who’s diligent in analyzing race replays and racing charts.
Factors to Consider in Betting
Becoming competent can’t be done overnight. Now, if you’re willing to know how to bet and earn profits in horse racing, here are the factors you’ll have to be familiar with.
1. Jockeys and Trainers
Try to examine the history of a jockey with a horse. A tandem of a horse and the jockey that has been consistent in top three places in their previous races means that they have an edge in the current race.
Additionally, if a jockey had various mounts in the race yet chose a specific horse to ride, it means that the horse has the biggest opportunity to win among the choices.
On the other side, the trainers who are consistent winners in the previous game will usually continue winning. Meanwhile, the losers will continue failing.
On top of that, if a trainer has multiple horses and entries in the race, it shows that he is confident in winning the race.
2. The Odds
If you have observed, the odds are always stated beside the horse’s name in the race. The one with the lowest odds is the favorite in the race. The horse with outstanding performance in its previous races will most likely become the favorite.
For example, in a prestigious horse racing event like Kentucky Derby, always look at the Kentucky Odds and pick the favorites out of it. Though favorites don’t fully secure a win, you can confidently rely on them because of the following facts.
- Bet on race favorites finish first because they win 33% of the time.
- Back the race favorites to finish first or second because they win 53% of the time.
- Bet on race favorites to finish first, second, or third because they win 67% of the time.
In a nutshell, betting on favorites is convenient, especially if you’re new to the business.
3. Weather Conditions
In horse betting, it’s crucial to check the weather conditions during the actual race.
Always remember that horses run differently on different course surfaces. Some horses are comfortable galloping in muddy race tracks, while some find it tough to run in soggy ground. If the track’s condition is wet, go for the horse which has succeeded in the previous races on the same track condition.
Also, remember that larger horses will most likely struggle in muddy ground since it’ll require more energy to run in a marshy trail compared to a dry one.
Racetracks are different when it comes to the surfaces of the route. There are natural soil and grass courses, and there are also artificial “all-weather” courses that don’t change regardless of the weather condition.
4. The Horse’s Rest Duration
A horse that is well-rested will most likely perform well in the race. However, the horse that has rested for so long will most likely finish last. The ideal rest duration for a horse is between one to two months. The timeline could be adjusted depending on the horse’s strengths and coping up skills.
Most of the time, the horse that has rested for long can return to its performance peak after two to three races. Moreover, an overworked horse will never win in a race, so if you know that a horse has been consistent in recent races without intervals, don’t ever think of betting on it.
Try to count how many races the horse has entered in the past two years. A horse with 14 races in the previous two years is an ideal horse to support.
5. The Horse’s Place in the Previous Race
Basically, this is called the “form” of a horse. The form is an essential detail in horse betting. If you’ve noticed a horse on a winning streak, never hesitate and go for it right away.
The job doesn’t end in checking the previous places of the horses. Try reviewing the track conditions of the earlier races and determine if a horse is still capable of placing on top, considering the racetrack’s present state.
Additional Tip: Don’t Bet on Everything
In horse racing, “the more entries, the more chances of winning” isn’t applicable. If you’ve witnessed a horse race in person, you know that there are many downtimes where bettors are tempted to engage in off-track betting (OTB).
Many would just place a wager without enough research on OTBs. Make sure to contain the boredom well and never impulsively waste your money on such bets.
Besides, don’t ever chase the lost money by betting bigger on races you know nothing about.
If you’re dedicated to improving your betting skills, you can soon establish your own betting strategy. Critical analysis can be practiced by mapping out the previous successes and downfalls of the horses in a race. You can be confident in betting if you’re firm in achieving your goals, including earning profits.