There are many factors you need to consider when betting on horse racing. If the plan is to attempt to win some money over the long term then you have to read up on all the different basic strategies to find out which works best for your own punting style or betting system.
Martingale Betting Strategy
There are many different betting strategies that people incorporate into their racing and sports betting online. They are certainly interesting to read up on and even to test with your own horse racing picks.
Probably the most popular and common strategy is the Martingale Betting Strategy, which is most famous for being used as a roulette betting strategy.
The Martingale Betting Strategy is simply a doubling up betting pattern. For example;
• You bet $100 and Lose.
• You then bet $200 and Lose.
• You then bet $400 and Win.
• This now gives you a clear profit of $100.
Of course, this system is one that requires you to have access to an unlimited bankroll that never runs out. The reality is that we all have a bankroll that has a limit and it will run out so this strategy is not our recommended approach for most punters.
Cash Management Strategies
The importance of managing your money when betting cannot be understated. For most of us punters, once our bankroll has been eroded our punting comes to an end for the day.
Almost all betting strategies have a common theme, they all revolve around your bankroll.
Another popular horse betting strategy involves you betting only a percentage of your bankroll in an attempt to make your bankroll last longer. Some punters will consistently put only 5% of their bankroll on a horse.
This system will minimize any loses while a winning run will see you gradually increase your bet size.
Betting Over The Odds
There are always horses that represent terrific value. Betting over the odds on horses that are a genuine chance will likely see you turn a healthy profit over the long haul.
A great example was at the Hong Kong Races on their big International raceday on 13 Dec 2009.
The horse was called Vision D’Etat. The formguide read 12 starts for 8 wins a second and a third. The only time this horse hadn’t run a place in its 12-start career was in two runnings of a little race in France called The Prix de l’Arc de Triomphe at Longchamps, Paris.
Those that backed it got back better than $8.
Conversely, betting on red-hot favourites that are under the odds will see you go broke sooner rather than later.
Multiple Online Betting Accounts
One way that many punters try to beat the bookies is to set up multiple betting accounts.
There is certainly one immediate advantage in doing this and that’s the free bets that many bookmakers offer when opening up an online betting account them. These can certainly give your bankroll a boost should you pick a winner.
However, over the long haul you also get to enjoy the advantage of ensuring that you get the best available price offered in Australia. This is especially the case for those that enjoy betting early on big races.
If you know your racing form and can spot value odds, then you can take advantage of having multiple accounts by betting on your horse over the odds in the fixed betting markets offered by online bookmakers.
Only Bet What You can Afford To Lose
The most important rule to remember is only ever bet with what you can afford to lose. Never bet beyond your means.
Punting is fun, exciting and can be rewarding financially when you have a good day picking winners but your life can become a nightmare should you begin to gamble with money that you can’t afford to lose.