Horse Racing Betting: Make Money Betting On Horse Race [2023 Guide]

Horse racing betting is as much an art as it is a science. As a seasoned gambler in the bustling and competitive, I’ve witnessed a fair share of ups, downs, wins, and losses. Through it all, I’ve gathered valuable insights and betting strategies, especially for horse racing.

However, for the most part, those that bet on the sport are looking to return a profit from the selections that they make. But, returning big money from horse racing wagers often sees a lot of hard work, including weighing up different approaches and testing new methods. But what tips should all sports newcomers follow to enhance their chances of landing returns when betting on the sport?

Horse Racing Tips For Beginners

There are few more popular sports to bet on worldwide than horse racing. Huge events such as the Kentucky Derby, Melbourne Cup, and the Grand National see hundreds of millions of dollars wagered annually, with fanatic and newcomer gamblers all involved in the day of fun on the track.

In 2023, the world of horse racing has seen numerous transformations. Technological advancements, changing regulations, and evolving horse training methods have changed the betting landscape. So, how can you make the most of your bets in this new environment? Here are some tried-and-true tips.

1. Understand The Basics

Before putting money down on your first selection, newcomers to the sport must first understand simple factors such as reading through a racecard. You will find information about the trainers, jockey, and pedigree here.

As well as that, the racecard will show you all the recent efforts of the horses involved and the times in which they completed each furlong.

If you’re new to horse racing, or even if you’re a seasoned bettor, it’s crucial to grasp the basic concepts. Get to know different types of bets, such as win, place, and show, and how each works. Understand the racing forms, which provide critical information about each horse’s past performance, lineage, jockey, and trainer.

• Jockey/Trainer

One of the key tips that many experienced bettors follow is following the strike rate of trainers and jockeys. Yards and athletes in solid form are more likely to produce a winner, as the high return rate in terms of winners will indicate solid form.

Meanwhile, yards and jockeys out of form could have a crisis of confidence, and something may be amiss with the horses in the yard. Many experienced bettors will follow jockeys more closely, as those operating with a high level of confidence will feel like they can ride winners regardless of whether they are on an odds-on favorite or a 20/1 outsider.

• Course & Distance

The racecard holds many tools you must read through to make a knowledgeable bet, including the previous form of the horses involved. One key tip experienced bettors follows is the trend of course & distance form. A horse that may not often win at other tracks but always finishes in the first three at a specific course should always be researched further.

For example, suppose a runner is competing at Churchill Downs, and they have won their previous two starts at the track over a mile but have lost over the same distance at Belmont Park and Gulfstream Park. In that case, you should consider if they are back over a familiar scenario, they generally excel.

You can as well check twinspires.com/belmont-stakes/handicapping for the upcoming Belmont Stakes.

• Ground Conditions

In horse racing, there is a lot of attention on the weather conditions, as they can play a key role in the race you are betting on. If rain begins to fall heavily, the going could quickly change from good to soft, bringing in reliable contenders in those conditions.

This is typically more of a tip to follow when the weather conditions are extreme, as certain horses will want extra cuts in the ground to enhance their chances of victory.

This is also true when betting on dirt racing, as some horses thrive in testing conditions. One rule many follow is that horses carrying extra weight will struggle when conditions become more tested. In handicaps on the turf with mild conditions, examining the horses carrying little weight on the back is always worth examining.

2. Experiment With Markets

Betting on the winner of the race is often the most popular way to make a wager on horse racing, but there are several alternatives if the value of your selection doesn’t match what you’re looking for.

That includes being able to play a place or show bet, meaning a horse will need to finish in the top two or three, respectively.

Exploring new markets is a solid tip to ensure that you always stand the best chance of getting returns on your selection, and it is an excellent way to build longer-formed parlay bets if you want to combine multiple selections. Given the success of online sportsbooks, there is always a market to find value; you need to look hard enough to find it.

An Each-Way (EW) bet is popular, especially for less experienced bettors. It’s essentially two bets: one for the horse to win and one for it to place. It reduces risk and increases the chances of getting a return, especially in races with many runners.

3. Multiple Betting

Combining multiple selections into a longer bet is most popular with sports such as soccer and basketball, but it can also be done when wagering on horse racing. However, it comes with added risk with racing, as it is hard enough to pick one winner on some days, let alone three or four.

Multiple betting continues to be a solid selection among experienced bettors. Still, it is typically used to join short-priced favorites with little chance of losing to boost up odds and create a bigger prize of winnings. Therefore, it is always advised not to include big-priced sections unless adequate research has been completed.

The condition of the racecourse, or ‘the going,” can significantly impact a race’s outcome. Some horses perform better on certain surfaces. Checking the horse’s past performance on similar racecourse conditions can offer valuable insights.

Can I make money in horse racing?

Yes, it is possible to make money in horse racing, but it is not guaranteed. Profits can be made through various means, such as betting on winning horses, becoming a racehorse owner, or working in the horse racing industry. Successful horse betting requires research, analysis, and understanding of the sport. Owning racehorses can be profitable if the horses perform well. Additionally, careers in training, breeding, or working in racetracks can provide opportunities for earning in the horse racing industry. However, it’s essential to approach horse racing as a serious endeavor and be prepared for risks.

In conclusion, while the glitz, glamour, and excitement of horse racing betting can be intoxicating, the journey toward becoming a successful bettor is grounded in a careful understanding of the basics, diligent study of the forms, informed decision-making, and smart money management. It’s a dynamic landscape that requires constant learning and adaptation to new tools and trends, like AI-powered analytics and betting exchanges.

In 2023, with horse racing more thrilling than ever, these tried-and-true tips and strategies are indispensable guides to enhancing your betting acumen. However, the golden rule of gambling remains unchanged: Bet responsibly. Embrace each race as a new opportunity to learn, adapt, and improve your betting skills.

Remember that every race is a blend of myriad factors – the horse, the jockey, the trainer, the ‘going,” and even the day’s weather. As a bettor, you can absorb all this information, weigh the odds, and make the best possible bet. And, sometimes, the best bet might be not to bet at all.

Patience and persistence reign supreme in the grand scheme of horse racing betting. There will always be another race, another opportunity. At its best, betting should be an enjoyable pursuit, not a stressful endeavor. After all, as we navigate the thrilling twists and turns of horse racing, we must remember that we’re in it for the love of the game.