Horse racing has one of the most significant sports betting markets in the world, which means that bettors of all stripes can put their money down and put their skills to the test in several ways.
If you’re a high roller looking to bet thousands on a race or a casual punter merely speculating on a big race like the Grand National, there’s something for everyone in the online arena. However, the chances of success are slim if you don’t know how you’re going to ante-up.
But isn’t it just a matter of choosing a horse and placing a wager? The response is yes from a technical standpoint. On the other hand, a solid betting system is needed if you want to give yourself the best chance of making money in the horse racing market. While some may say that horse racing betting systems are nothing more than a myth, this is not the case.
The problem with betting systems is that many people believe they are a magical sure-fire way to make money. However, in practice, these “systems” are nothing more than techniques for identifying market value. Any horse racing scheme is a perfect way to direct your picks when you want to ante-up if you peel back the layers and blast through the bluster.
In light of this, we’ve broken down some of the more effective horse racing betting tips you can use to boost your EV. However, before we go into picking a winner, it’s important to understand the two key ways in which odds are expressed in the betting world.
Understand the Odds
The expression of odds will take one of two forms depending on where you are in the world and the race that is taking place:
Odds set Gambling: The majority of horse racing betting sites in the virtual world use a fixed-odds scheme. The payoff on a winning wager on a fixed-odds bet is settled upon when the bet is made and will not adjust.
Parimutuel Betting: In addition to the fixed odds system, some platforms can also include the Parimutuel odds system. While less common in Europe than in other parts of the world, this form of horse racing betting is governed by a ‘tote’ system that considers all money in the betting pool and calculates the payoff odds of winning bets after the house’s cut is eliminated. In essence, Parimutuel betting varies from fixed odds betting in that the final payoff is not determined until after the betting pool has been closed.
Now that we’ve cleared that up, we’ll go through some basic horse racing betting systems that you can use to improve your odds of success in the iGaming world.
The Layout of Statistics
In the world of sports betting, laying a horse entails betting against a runner. To use this method, you must first find a race with ten or more participants. The trick to this scheme is finding the three favourites and testing their odds once you’ve found a suitable race.
Once you’ve identified the race’s top three contenders, you’ll need to choose the runners with odds of 3.0 (2/1) to 5.8 (4.8/1) and lay against the one with the lowest odds. According to the statistics, you can get a winner about 80% of the time.
Since statistical analysis reveals that horses with odds in these ranges (when in the top three picks of a race) only win about 17% of the time, this is valid. This means that a lay bet (i.e., a wager that the horse will not win) on these horses will pay out 83 percent of the time. It’s that simple.