Anyone who has been to England knows that the Grand National and Royal Ascot are big deals in Britain. Every year, these two, as well as many other horse racing events take over England. As 2021’s events draw near, you should work on polishing your horse race betting skills.
If you are to stand a chance of winning cash prizes worth millions of pounds, you have to master making the right betting choices. Unlike popular opinion, cash prize winners don’t just get lucky. Even though there is an element of chance in horse race betting, it takes more to win.
To be a successful bettor, you need a combination of inside know-how and the right betting skills. The biggest winners will tell you that following horse racing tips contributed to their success.
Let’s look at horse racing tips for beginners to help you get started.
How Horse Racing Betting Odds Work
For every horse race, bookmakers have a theoretical in-build margin in their favor, and a price offer for bettors.
Let’s say we have a three horse race in an ideal world with horse A at odds of 2.00 which implies that the probability of this horse winning the race stands at 50%. Horse B’s odds stand at 3/1 with a 25% probability of winning and horse C also at 3/1 with a 25% probability of winning.
Such an arrangement makes a 100% perfect book. So for the bookmaker to make profit, he has to offer bettors shorter prices in case every horse can be laid.
Say the bookmaker manipulates the odds so that horse A’s chance of winning jump from 50% to 56%, 25% to 29% for horse B and 25% to 27% for horse C. In total, the price the bookmaker offers, would add up to 112% instead of the ideal 100%.
With such high chances of winning for every horse, the bookmaker can encourage bettors to wager on every horse. This guarantees the bookmaker profit because in the end, only one horse can win.
Even though in the real world it is much more complex, this simple example draws a perfect picture of what goes on behind the scenes. Bookmakers always lay horses at prices lower than their actual chance to make profit.
To win when betting on horse races, you need to look away from the shortest prices. Ignore the very public horse because it’s most likely underpriced and overbet.
How to Choose a Bookmaker for Horse Race Betting
If you’re serious about getting into horse race betting, you want a fair bookmaker who gives you opportunities to win big. Look for a site that gives punters free horse race betting tips and allow them to bet in-running because this significantly boosts wins.
When you find bookmakers who cater to your needs, open as many accounts as you can so you don’t miss out on the best horse racing tips for tomorrow. The horse racing market is quite competitive, so the more places you’re present, the more offers and winning strategies you have access to.
You want a bookmaker who has established a reputation bettors can trust. This way, you’ll be sure that they’re willing to lay fair bets at the quoted prices.
Do Horse Racing Betting Systems Work?
In truth, horse racing betting systems do not work. However, this doesn’t mean you shouldn’t establish a methodical approach for betting on horse races, or cross off horse race betting altogether.
To be a successful horse race bettor, you need to stick to certain principles and understand that each horse race is unique, involving animals and not machines. Before you place a wager, make sure you have a comprehensive understanding of the horses’ recent runs. Avoid being caught up in historical data because a horse that has won 54% of the last 30 running can easily lose based on the circumstances of one race.
Also, be careful not to be duped into paying tipsters for inside information, or be tempted to follow a staking system that only works perfectly once the race is over. In horse racing, you’re better off trusting your gut and forming your own opinion on which horse you think will win the race. Relying on second-hand gossip can dupe you into staking outside your comfort zone only for you to lose everything.
Betting on horse races is a little different from other forms of betting because it involves betting on the running prowess of an animal. As a beginner, make sure you analyze your favorite horse’s latest performance to get a bearing on whether or not they’ll win. Remember to trust your judgement as well because horses are not machines that can be manipulated by systems.