Can You Make Money with Horse Race Betting in Reality?
In reality all kinds of gambling has its risk and there is no denying this fact that most people lose their money than what they generally earn by wagering. In case of horse racing you do have some advantages over other kinds of gambling games and that is you can very carefully form informed decision about a horse and its jockey winning the next race. However, the fact is that you can still make mistake and therefore it is always a gamble when you bet your money.
However, you may still make money if you consistently follow certain rules that experienced betters have developed over the years. It is still not a road that you can count on while betting on races yet it does offers less risks.
Understand Race books
If you are a beginner then you must not wager money without knowing something about race books. It is generally seen that when you wager money on a favorite horse as stated by race book then you are going to get less money out of the bet as that horse wins more often. However, if you have wagered on a horse that stands little or no chance of winning then you get larger payout that includes premium as the race book has predicted it to lose out.
It must be understood that race books too make educated guess and it is likely that most people follow suit. It therefore depends upon how you have formed your own intelligent guess. You can only do this by knowing quite a lot about each horse in racing events, its jockeys and history of racing tracks and which horse is good in a particular kind of track.
Try Increasing the Probability of Your Wins
It is golden rule among winners of horse racing betting and that is never place your money on all horses and also do not participate in all betting events. If you bet on every single horse then there is greater probability that you may lose your entire bank money. Therefore, choose a few races after having done your home work.
Besides, the above you must have very good knowledge about the jockey and number of wins he had. It is likely that you do your own research online to ascertain whether leading jockeys are in best of health or currently underperforming.
You also increase chances of your winning if you avoid low level horse racing, but simply stick to high or medium level only.
Wager for only a Percentage of your Bank Money
If you wager on each and every race then you may find your bank balances going downhill at a very fast rate. As horse racing is another form of gambling you lose more if you think that you may recover more money in the next round with a larger stake. This is where most people lose out. Instead, if you lose money you may find that you recover it little by little over a period of time through several small wins only.
Large jackpot wins are result of mainly consistent bets by self confident gamblers. It is generally seen that your winning chance is best seen by the price of your winning horse. So when you wager for $5 then your winning chance on that horse is between 19 to 24%. It is also seen through studies that if you are right at least 40% at betting then are on breakeven for the losses you had made. Yet this need not be true in reality.
Hence, it is better to limit your betting to few racing events and hope for good luck to come for you. Quite naturally, this means that you still have chances to lose your money despite being fully informed about events.
Never Trust Insider Tips
You may find quite a lot of people with insider knowledge and tips when you are at racing events. Fact is that this is just bogus and you may lose money. In the end you ought to listen to your own intuition and educated guesses than hearsays.
Lastly, you should never take it as a profession, but as a hobby so that at the end of the day you feel fine whether you make losses or wins.