How to Get Started With Betting on Horses - A Beginners' Guide
There may be any number of reasons why you’re finally ready to take the plunge and start betting on horse racing.
Perhaps you’re drawn in by the excitement of a big race day, the thrill of cheering on your horse as he sprints gallantly across the finish line, and of course, the buzz of pocketing that extra cash when that big gamble pays off.
Or perhaps it's the pay off itself that has finally proven too irresistible to pass up.
You’ve already read countless success stories about how clever horse racing fans have changed their lives dramatically with a few simple bets, and now you want in on the action too.
You’re ready to live your dreams, to enjoy the kind of wealth you truly deserve. You’re ready to finally get started with horse race betting and truly nothing can stop you now…
….Except of course, for one very important detail:
You don’t know where to start.
Here, Professional Gambler’s race experts offer our complete beginners guide to betting on horse racing.
Do Your Research
If your only past experience of gambling is having a little flutter on the Grand National each April, then you’re advised to basically forget everything you already think you know about race betting.
For most casual members of the public, betting on the ‘National is a case of picking up the newspaper on the day and picking the horse that has the most attractive-looking jersey or coolest-sounding name.
If, however, you’re serious about changing your life with betting, you’re going to need a much more serious approach.
That includes doing your research on the horses running in any particular race.
Study their form, go back through past race results and consider how they fared.
In particular, pay attention to the odds, which these days is easy to do thanks to the Internet.
You can check horse racing betting odds online here, for example, and use that to help determine which horse to put your money behind.
Learn How Odds Work
To the untrained eye, betting odds can seem incredibly complicated and undoubtedly confusing. Arm yourself with a little knowledge, however, and they couldn’t be easier to understand.
In essence, odds are used to predict how likely an event is to happen.
So, for example, let’s say that you have a horse with 1/ 4.
To determine the odds, we use a simple calculation which looks like this:
4 divided by (1+4) equals 0.80.
We use this 0.80 figure as a percentage, which means there is an 80% chance (highly likely) of your horse winning the race.
You can use this calculation for any odds using the following formula.
A/B (where A is the first number in the fraction, and B is the second number) = B divided by (A + B)
Use that number as a percentage to determine the likely probability of your horse winning.
Understand Different Types of Bets
On the surface, betting couldn’t be simpler:
You choose your horse, bet on it to win, and if it does, you win your pay off.
That’s what we call a Straight Bet, and for beginners, it’s a good way to get started with gambling on horse racing and understanding how everything works.
Once you get comfortable though, there are a whole different range of bets you could potentially take. It’s often these kind of bets that the big professional gamblers use to win those life-changing amounts.
Whilst you’re finding your feet with racing, take the time to study different betting types so that, when you’re ready, you can start experimenting.
This is where we basically reiterate what we’ve just said above.
Because it’s important.
As tempting as it may be to dive right in with some high-stakes gamble and put it all on the line, one wrong move as a novice gambler could put you off betting for good.
Instead, start small and work your work way up.
This will not only increase your enjoyment of betting, but also ensure you really take the time to learn your craft so that, when you are ready to go for the big bets, you’ll know much more about how to make those bets a success.
Betting on the horses can be great fun and -for those who take it seriously- produce some significantly life-changing pay outs. Yet even the best in the businesses know when to stop. In fact, it’s precisely because they do stick to their limits that the top professional gamblers have managed to carve such a successful career out of betting.
To really get the most out of your experience, be sure to set your own limits and -most importantly- stick to them.
Government-approved associations like GambleAware can be really helpful in ensuring that for you, gambling remains only a positive, and profitable, experience.
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