Maintaining regular profits from horse racing betting
If you are new to the exciting and potentially profitable world of horse racing betting, it is essential that you cover the basics first. It is equally important to keep the basics in mind as you develop your own systems, follow systems devised by others, or invest in new ways of profiting from the races.
This lens will provide a brief outline of 10 things to keep in mind if you want to maintain regular profits from horse racing betting.
Although a single lens or article can never be a complete guide to the fascinating subject of horse racing betting, the pointers in this lens might get you going, or remind you of some basics if you already have some experience. Whatever the case, I wish you many profitable betting days!
10 Things to keep in mind when you bet on horse races (Part 1)
- Don't ever bet, gamble or invest money you cannot afford to lose. If you win big, you might think it's exciting. But if you lose money you could not afford to lose, you'll regret it. And just maybe you'd regret it for longer you'd ever think possible.
- It does not matter how good your betting system is (or promises to be), or how good a handicapping service is (or pretend to be), you will not win every bet. Even more so, you will, inevitably, suffer the occasional losing streak. Know this, and you'll be prepared when it does happen.
- Start with a betting bank that is large enough to withstand an initial losing streak. Although we always know it might happen, we hope it wouldn't be at the beginning of building a bank. Don't allow it to be over before it had even started.
- Start with small stakes, and build your betting bank day by day, and week by week, before you start (slightly) increasing your stakes. Be patient.
- Don't try to recoup losses on the next bet. This is valid for any type of gambling, and for any type of investment. Some professional horse racing bettors believe now that only flat stakes should be used at all times. Others say that progressive staking has its place in a balanced betting arsenal. My personal advice is that modifying your stakes according to wins or losses is acceptable (even advisable) as long as you keep it within reasonable limits. Don't ever expect too much from any single bet -- neither the horse not the jockey knows how much you want them to win, and they don't owe you anything.
10 Recommended Horse Racing Betting Systems (Part 1)
If you're serious about making a living from betting on horse racing, an essential ingredient is a portfolio of well-researched betting systems. Here's the first part of 10 recommended systems...
- The Smart Money System
- More than a single set of criteria, The Smart Money Racing System is an all-in-one package containing detailed information for profiting from mostly trading on the horse racing market on Betfair.
- The Legacy System
- Well researched yet simple to use, this system will more than justify its inclusion in your betting portfolio. Comes with a bonus system ("Saver") that knocks many other backing systems out of the proverbial race.
- Easy Money From Losing Horses
- A fairly simple yet profitable laying selection method. Bonuses include "The Each Way Steal" which explains the win and place markets, and includes simple mathematic principles that produce a very respectable strike rate and ROI.
- How To Place Bet On Favorites For A Living
- A system that has proven its worth for the past couple of years, "How To Place Bet On Favorites For A Living" gives you the exact criteria to select horses with a high percentage of place results.
- Cash Master
- Not really a system, but a piece of software that calculates your stakes according to recent wins or losses. Splits stakes responsibly if you're on a bit of a losing run. Comes with the "77.7% Racing System".
10 Things to keep in mind when you bet on horse races (Part 2)
- Before you start using a betting system or handicapping service, do some paper testing for at least two weeks to see whether or not it's worth the risk of real money. Some experienced bettors suggest testing any system until you have at least 100 results. In theory I agree, but in practice that might take you months. Again, be patient, don't rush into using a system that might not be as good as the product page or handicapper promises.
- When you follow a horse racing betting system, or a handicapping system, make sure you understand all the selection criteria, as well as when and how much to bet. When a betting opportunity is highlighted by a selection procedure, make sure you have followed the process correctly. Mistakes cost money. Try to keep them to a minimum (and when you do make a mistake, remember it, and move on).
- Take some time to learn horse racing terminology. Some examples: "form", "going", "field", chase", "hurdle", "flat racing", "national hunt", "all weather", "place", "show", "furlong", "draw", "handicap" and "maiden". If you're focusing on UK races, it might also be a good idea to learn some basic differences between the more well-known tracks like Lingfield, Wolverhampton, Southwell and others.
- As well as learning the terminology, it is also important to learn how to read a race card, as this is what you'd be doing on a daily basis. Race cards will indicate the horse's form (ex. 562), the stall draw, how many days since the horse's last race, who the jockey is, and in some cases also whether the horse is a course and/or distance winner.
- Never stop learning. Read literature on the subject of horse racing, horse racing betting systems and handicapping to increase your knowledge. Make it a habit to test new ways to profit from horse racing, and keep an eye on the performance of systems you're currently using to see if additional filters or selections criteria might make it more profitable.
In case you forget...
Sticking to a good system will increase your chances for long-term profits, and building up a portfolio of reliable betting systems will cushion your betting bank in case one system performs badly.
10 Recommended Horse Racing Betting Systems (Part 2)
Here's the second part of my 10 recommended systems. Please take note that these systems are not in any specific order, and that all have been tried and tested.
- False Favourites Laying System
- A handbook on the art and science of laying favorites that are in fact not as strong as perceived by the betting public. This publication is recommended for anyone serious about honing their skills on the laying side of horse race betting.
- Laying Impact
- This laying selection method digresses from the usual route of laying favorites. Considered a reliable, long-term money-earner by respected horse racing betting experts.
- Horse Racing Handicapping Secrets
- Highly recommended if you want to improve your skills at handicapping horses. Includes powerful mathematical betting formulas that will enable you to cover more horses and generate more profit for every dollar you bet.
- Go Fibonacci
- Laying systems are sometimes a dime a dozen (at least in terms of value), but Go Fibonacci generates long-term profit from using a unique money management methodology.
- Smart Bet Wizard
- Staking plan software that calculate your stakes according to previous wins/losses. The package includes a step-by-step guide in PDF as well as selection systems to use in conjunction with the software. Can also be used with sports other than horse racing.
Daily Horse Racing News from the BBC
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WritingforYourWealth
I have only bet on races for fun at the rodeos, but I'm sure this knowledge would improve my winnings. :) Posted August 24, 2008 |
