How to maximise profits from betting on horses

| September 3, 2019
Maximise profits on horses
There are ways to maximise your profits when betting on horse racing

There is only one thing that is certain when it comes to the world of betting, and this is the fact that there is no such thing as a ‘sure thing!’ However, there are certainly some things that you can do in order to increase your chances. The more you learn about the industry, the better you will be positioned to make the right decisions. With that being said, read on to discover some tips to help you maximise your profits when you are betting on horse racing.

  1. Understand value – There is only one place to begin, and this is by understanding the concept of value. Yes, you may be certain that a favourite is going to win a race. However, if it is priced at 1.20, you need to ask yourself whether it is worth the risk. Is it really worth risking $5 just to make $1? This is what you need to ask yourself whenever you make a bet. 
  2. Explore different avenues for making money – There is no denying that betting is not a sure thing when it comes to turning a profit, and therefore, it can be advisable to search for other revenue-making avenues as well. Selling products online is a great example of this. Why not sell items relating to the horse racing sector? You can read this guide on Big Commerce vs Shopify Plus for more information on how to get started and the best platform to use. 
  3. Understand how bookmakers make the odds – Aside from the pieces of advice that have already been mentioned, it is also important for you to understand how bookmakers make the odds. While this does depend on how popular an event is, the odds set by a bookmaker will typically reflect what they expect the general public to do, rather than being based on the likelihood of an outcome. Needless to say, it is never that straightforward. However, if you do keep this in mind, it will present you with a great way to create some extra value.
  4. Don’t get carried away – When we see the big figures at the bottom of our bet slip through combining loads of different horses and playing multi-bets and the like, it can be very easy to get carried away. We convince ourselves our choices are solid and that we are going to become rich overnight. However, choosing one horse is difficult enough without trying to predict the winner of eight different races!
  5. Have a long-term view – You need to view betting from a long-term perspective. Build your betting bankroll over time, as it is all about steadily increasing the amount. Make sure you track your profits too.

We hope that the advice that has been presented above will help you to make the best decisions when it comes to betting on horses. This is something that has become exceptionally popular. However, you want to make sure that you are making money rather than throwing it away. We hope that the tips mentioned above will help you to turn a profit. 

Category: Special interest

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