5 basic fundamentals for horse racing punters

| September 3, 2021

Betting on horse racing can be a complex and difficult task. There are endless products and services offered by online betting agencies. Even simple win and place betting can appear more complicated than necessary, with the different offerings on odds; fixed odds, variable odds, top flucs, and the like. Not to mention the multitude of promotions that betting companies offer to retain customers. Sure, a little exploring and self-education can quickly get you up and running, however like any profession it’s important to get the basic fundamentals right before embarking on a punting journey. Here, we describe 5 most fundamental aspects of punting that you need to get absolutely right from the beginning.

  1. Setting limits

One of the most important decisions you will make as a punter is how much money you will invest on horse racing betting. Deposit limits are critical because they provide a safety net if things go wrong. It’s important not to chase your losses and end up getting into an even deeper hole. By setting limits on your weekly spend, there is no danger of finding yourself in trouble. The amount you set up as your limit is dependent on many factors. One way to decide how much money to deposit is to think about it as a percentage of your weekly income. Another way is to think about how much you would be prepared to lose. Luckily, most reputable online bookmakers, such as whichbookie.com free betting site, have mechanisms whereby you can set your deposit limit. The system will send you an alert that you have reached your weekly or monthly limit and not allow you to process more transactions until the next time period. A hard limit not only keeps you in check but also imposes a short break so you can cool off and make sensible decisions in the light of day.

2. Familiarity with various bet offerings

Horse racing betting is filled with many types of bet formats. These include standard win and place, quinellas, trifectas, doubles, quadrellas and multi bets. Selecting which bet type you prefer is an individual preference. Some punters prefer straight out win bets, others bet for the place. Trifecta punters are a breed of their own and enjoy the massive payouts when longshots succeed. Quadrella punters are also a unique group, running the numbers like trained mathematicians. No matter what type of bet you prefer, the same rules and dedications apply. Find a bet type that suits your unique characteristics. A format you enjoy will make the work easier and ultimately profits will come.

3. Strategies for horse racing betting

Most professional punters have betting strategies that they use to ensure consistent profits. Having a plan avoids the rollercoaster of emotions that one experiences betting on horse racing. A betting plan may apply to one particular race or alternatively cover an entire day’s racing. Staking plans are popular but other plans include the martingale system and multiple variants, and the arbitrage system. The martingale system is a betting strategy where the punter doubles his bet until he wins, then he restarts with the original stake. It takes discipline to implement this system as sometimes you can be down quite a way before a win comes. It’s important to point out that none of these systems are fool proof and there is still an element of luck and good decision-making required.

4. Goals and plans

Like any financial activity, it’s important to have goals to work towards. Punting on horse racing is no different. Decide what you would like to achieve and on what time scale. Bear in mind that planning significant profits in a short space of time, the so-called get rich quick scheme, brings with it higher risk than a carefully strategized, long-term approach. Are you prepared to wear the risk and make investments with higher potential returns? Or are you risk averse and prefer small, consistent profits. These goals will have vastly different betting strategies. Whichever you choose, it’s important to stick to it and not lose focus on the overall plan.

5. Plan for exit

As with any investment plan, the punter should have an idea of when and why he should conclude the investment strategy. What are trigger points for exit? This might be a dollar value, such as making double or triple the initial stake. It might be time-related, to exit after a year of punting, or to finish at the conclusion of a 6-week block. Do you plan to withdraw all the profits? Or leave an amount for the next period of investment. What happens if you don’t make a profit, or lose everything. What is the plan for exit. These are important considerations to set off on the right track.

Category: Racing

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