Horse racing may not be the most popular sport out there, but it sure is a great way to earn some bucks. The most common way to earn money on horse racing is either to manage your own stable of horses or become an excellent jockey.
However, some horse enthusiasts don’t have the resources to invest in a horse stable or a jockeying career.
So for most horse lovers, they opt for betting on a horse race instead. It’s not the same thrill that you get from riding a horse on the fast lane, but it gives you the opportunity to study horses and earn money. It’s all fun and games when your bet pays off, but that’s not always the case.
Horse racing is one of the most unpredictable sports events in the world. For one, you cannot talk to a horse word-by-word, so you can’t tell their exact physical condition or energy. Expert horse racing bettors might have their own strategies for gauging a horse’s capability, but it could be a tad difficult for beginners.
If you’re just making your first horse racing bet, here are some useful tips to get you a headstart.
Don’t underestimate the value of race forms
Many beginners might see it as just ink-on-paper, but the Daily Racing Form (DRF) is actually a useful guide for every horse racing bettor. The DRF gives you a rundown of the history of the participating horses, including how they performed in their previous races.
Moreover, the DRF lets you know if a race has a “handicap” rule. A handicap is an attempt to level the playing field among horses based on their level of ability. So before placing your bets, you should know if you’re betting on a handicap race or not.
Along with the DRF, you should also get hold of the racetrack program, which typically contains information on the horse jockeys and trainers. You can purchase the DRF and the racetrack program for around $15, depending on the race organizers.
Do your research on the trainers and jockeys
Horses surely steal the show in horse racing, but their jockeys and trainers are equally important. After all, these are the people who know the horses inside and out, so they’re sort of the “navigators” in a horse racing event.
While it is true that new faces present fresh ideas that could prove to be game-changers, it’s still wise to place your bets on seasoned or experienced jockeys and trainers. New jockeys might not know how they can solve issues with their new horses, a situation that experienced jockeys can easily overcome.
As mentioned before, you can get information about the participating horses, jockeys, and trainers through the Daily Racing Form (DRF) and the racetrack program. The racetrack program might also provide information on horse owners as well.
Don’t go all-in on one bet
Going all-in on a single bet might be a hassle-free way of earning big money, but you cannot hit the jackpot all the time. You should know that there are different types of horse racing bets you can make, and you can even bet on multiple horses in a single race.
Among the most common types of horse racing bets are the following:
• Win bet
• Place bet
• Show bet
• Single-race exotics
• Exacta bet
• Quinella bet
• Trifecta bet
Most horse racing events also allow people to place bets on multiple horses. Known as exotic wagers, this type of horse racing bet allows you to bet on at least two horses in a single race. It’s quite a risky bet to place, but the rewards far outweigh the money you can earn from the common single bets.