Horse racing is one of the oldest sports and its joyful simplicity has not changed since its creation.
Big racing events generate hundreds of millions of pounds each year through bets alone, so what are some of the common and easily made mistakes to avoid when placing your best at the upcoming races.
- Bet on Fact not Emotions
It is a common decider for bets, people basing decisions solely on emotion and personal interest in the horse or jockey.
Sports is a passionate source of entertainment, for both the participants and the spectators, but when betting, those emotions need to be put aside if you want to make a logical and profitable bet.
Betting on your personal favourite might pay out if you are lucky, but it is a flawed method and limits your chances to pure luck as opposed to an educated choice which is well research and highly likely to result in a bigger pay out. But if you don’t believe in your bet you will be unlikely to see the bet though and could end up cashing out and miss out on a big pay day.
- Only Bet on the Best
You should be selective and only bet when a good opportunity arises, and don’t settle for anything less. These choices should be well research to optimise your odds, based on real information, insights and racing results.
But everyone has access to the same information when at a race, so make sure you are prepared and found so trustworthy sources of your own and have personal insight into the winners.
- High Risk Doesn’t Guarantee a High Reward
Go big or go home are not words to live by, especially when placing smart bets. Trying to get rich quick is not a good method of betting and so going for the low odds bets due to the bigger returns does not mean you will go home with bags of money, it means that there is a much higher chance of you leaving with big bags of regret than anything else.
Betting requires skill and the accumulation of a plan and budget in order to really succeed, slow and steady wins the race, well in betting anyway.
- A Good Craftsman Never Blames His Tools
When bettors lose a bet, it’s easy to blame everything but themselves, but that only leads to rage fuelled, uneducated, impulse bets, which are almost never a good idea. These best cause budgets to be ignored, facts to be dismissed and often cause big money losses.
You should learn from your mistakes and let that power you to make better bets next time.
- Wish for the Best. Expect the Worst.
Don’t be too confident in a bet you have placed as that will only make the loss more devastating. There is always a possibility that your horse will not win, no matter how high the odds are, you need to always plan for a freak accident or possibility of something going wrong as there are no guarantees.