Horses are magnificent creatures, and few things compare to spending a day at the racetrack watching them compete. I love going to the races, but I can’t go without making some bets in person.
I used to wager on horses based on the best odds, and I even made a few bets on horses with names that I loved. But I quickly realized that if I didn’t want to lose too much money, I needed to learn how to handicap the races.
I began to learn from my betting mistakes and gradually improved. You can also enhance your horse race handicapping by learning from your mistakes, which don’t have to be your own. Here are some common betting mistakes that horse race bettors make. Take the time to learn from your mistakes to don’t repeat them. If you’ve ever been to the racetrack, you’ve punters witnessed some of the below horse racing betting mistakes and betting Strategies.
Disregarding the Jockey
The horses are the attention of amateur horse racing bettors. While you must learn how to grade horses based on their talents, you must also comprehend the significance of the jockey in a race. One of the most significant factors I consider is each jockey’s experience level. Every jockey was once a novice, but being a competent jockey requires more than physical prowess. It’s similar to many other occupations in that you get experience and learn how to better. Several bookmakers provide unique promotions that may benefit you during major horse racing events.
I still bet on good horses ridden by inexperienced jockeys, but I prefer to gamble on horses ridden by experienced jockeys.
Examine the horses that jockeys rode in their most recent races while appraising them. I compare the final odds to where the jockey ended. This isn’t always accurate, but it provides me a sense of whether the jockey will finish higher or lower than projected.
Starting Position Ignored
It doesn’t take long for horse race bettors to realize that starting position is crucial. But I still encounter gamblers who ignore it daily, which is a mistake.
Another common blunder made by horse race bettors is presuming that one position is always better than the other. You must discover which horses perform best in certain situations. A sluggish start from the fence can bury a good horse and make it difficult to win.
You should also consider how each jockey has done from each starting position in the past. Although jockey performance by position isn’t as crucial as horse performance, it can provide you with an advantage that no one else has.
Speed is overvalued.
In horse racing betting, speed is significant since the horse who finishes first has the fastest speed for that particular race. However, many more factors to consider when handicapping a race day than prior speed performances. Many horse bettors make the error of focusing solely on speed or too on historical speed outcomes.
If you have no prior experience handicapping horses, you can get close to breaking even in the long term by betting on the horses with the best previous race times. However, you will never make money doing this.
Placing Bets Too Early
In horse racing, the odds and payouts are determined by the amount of money spent on each horse. This means that the horse with the highest odds does not necessarily have the best probability of winning the race.
This is beneficial because it implies that smart handicappers can profit by selecting horses with a good probability of winning but on which no one else is betting heavily.
Making Long Shot Bets for Entertainment
Have you ever seen a horse with odds of 50 to 1 and opted to take a chance because of the potential payout? Most novice horse bettors have either done it or at least considered it.
While long-shot horses may occasionally win, the truth is that they are usually long shots for a reason. Winning horse race bettors make decisions based on value rather than luck.
You must believe it is worthwhile when you take a wager on a long shot. You should never wager if you don’t see any value.
Pedigree is overvalued.
Before discussing the dangers of overvaluing pedigree, I want to emphasize that pedigree is vital. The best horses frequently generate successful offspring. However, some bettors place much too much emphasis on pedigree. On the other side, even the best trainer and jockey cannot turn a bad horse into a winner.
It’s helpful to know something about each horse’s lineage when handicapping horse races, but it’s only one aspect of a successful handicapping plan. When handicapping horse races, don’t make the mistake of overvaluing pedigree.
Putting Large Bets on Favorite Teams
Heavy favorites usually have low odds at reputable online sportsbooks. If you bet on a big favorite and win, your return will be lower than if you gambled on a horse with longer odds. Does this rule out betting on favorites?
Keep in mind two things that you learned before. The first rule is that every wager must be based on value. If the favorite provides the best value in terms of odds, you should bet on it. However, you should not place bet if the bet’s odds are not favorable.
Financial Planning
Pay attention since the most critical element on this list is Bankroll Management.
We cannot emphasize the importance of only betting with real money you can afford to lose. Countless people routinely withdraw money from their savings accounts and gamble it away without realizing the cost, only to realize their mistake when it is too late.
To prevent this error, set aside some money in a separate account that you will only use to place your bets. Regardless of what happens, you won’t be devastated financially if everything goes wrong.
Conclusion
Sports betting is a complex business with always winners and losers. To increase your chances of winning, you should always avoid making unnecessary betting mistakes. By following all of the tips in this article, we can guarantee that you will be on the correct track to a more promising betting experience.
Despite our best efforts to present you with a thorough list of common mistakes to avoid, some errors are bound to occur.