Horse racing is one of the most popular sports in the world, so it should come as no surprise that a rich betting culture has sprung up around it over the decades. The art of predicting odds has itself become a multi-billion-dollar industry, with sportsbooks around the world claiming to have mastered the alchemy of prediction.
However, we believe that the sport of horse racing is always an unpredictable one and that attempting to guess the horse that will finish first every single time is a futile exercise. If you’re a fan of betting on horse races, one way you can make the most out of it and stretch your bankroll out further is by adopting one of the many popular horse race betting systems out there.
Without further ado, here are four such betting strategies that you can try at your next race.
This is one of the most popular and widely-used betting strategies in the world of horse racing. It involves a fair amount of maths, but it is basically a way of covering multiple outcomes to give a higher chance of a successful outcome. It involves gathering all of the horses with the best odds and spreading your stake so that, even if only one of them pays off, it is enough to cover your stake. It’s not a foolproof method by any means, but it does decrease your chances of blowing your bankroll.
2. Laying the Favourite
This one is a lot more straightforward. Laying the favourite is the strategy of consistently betting against whichever horse has been tipped by a bookmaker as the favourite. While this might seem illogical, given that the favourite is usually the horse with the very best odds, it does make sense. Statistically, only 1/3 of favourites ever actually win the race. If you place a wager on the favourite performing poorly, you stand a decent chance of winning the bet.
Granted, the well-known martingale strategy actually hails from the game of roulette, but the same logic applies. Thanks to the ever-increasing numbers of people who play online roulette, which often uses real roulette wheels via a live casino, the martingale strategy is spreading to other forms of betting as well. It involves placing multiple bets over time. Whenever you win a bet on a race, you should keep your stake the same or reduce it for the next race. However, if you lose a bet, then double your stake for the next race. The logic here is that you can offset your previous losses with bigger wins, should your horse come through in the next race.
There are serious limitations to the Martingale strategy and it is not normally an approach we would ever advise anyone to use. Its dangers are obvious – you will either blow your entire bank before hitting a winner or reach the maximum bet allowed by the bookmaker. Either way you would be left with big losses. However, there are variants on Martingale with strict criteria such as the Fibonacci staking system used by the Little Acorns betting system which limit losses and is less risky than using a straight Martingale strategy.
4. Value Betting
Finally, there is the time-honoured tradition of value betting. With this system, you are essentially trying to spot an under-valued horse that the bookmaker has overlooked. The goal is to find a horse that has a higher chance of winning a race than the odds that it has been given would suggest. Obviously, this is a betting system that requires significant experience and know-how in the world of horse racing, as its success depends on you being able to outsmart a bookie. However, when done right, the payoffs can be significant. You can check the tipsters who have passed a trial here at Honest Betting Reviews and shown they have a knack for finding value bets.
These are some of the many different betting systems that horse racing fans adhere to today. Make sure to try one out next time you find yourself at the races.