Even though Lady Luck has a major role in most casino games, she is almost powerless when it comes to sports betting and wagering on horse races. When it comes to betting on horse races, it is experience and knowledge that makes a punter successful, rather than luck.
You should know that regardless of how successful you have been in the past if you do not continuously try to achieve more, it is only a matter of time before you lose a lot of money.
Evidently, there are various ways to improve oneself as a punter. One of the most common ways is learning from the mistakes of others. Below, we have prepared some of the most common mistakes made by punters on horse races. Read along and try to avoid these mistakes as much as you can. In time, you will see that avoiding common mistakes will not only improve your betting strategy but also will not cost you a lot of money.
1. Not choosing a horse due to a wide barrier
At first sight, it seems that a wide barrier is a considerable disadvantage for a horse, and even experts sometimes comment that some horses represent a betting risk because of their wide barriers.
It is important to remember that every horse might perform differently in individual races. Usually, however, there is a market bias towards inside barriers, which makes them less profitable than outside ones.
When a horse is not so fast in the beginning and has a wide barrier, then chances are it will fall behind other horses. In this case, it is advisable not to bet on it. But by no means should you discard a horse simply because of wide barriers. It is important to be objective and take other considerations into account before placing a bet. In the end, remember that inside barriers are not as profitable because of the market bias towards them.
2. Searching for certainty in each wager
In order to be a successful punter, you should inform yourself as much as you can and place a given amount of money on an uncertain outcome. In other words, you should bet when you feel confident that the odds are in your favour and that your horse has a good chance to win.
But a lot of betting enthusiasts mistakenly assume that every element of chance represents an enormous betting risk and therefore it is not advisable to wager. Of course, sometimes the risk really is too big to place a bet.
Nevertheless, do not think that bets are only profitable when your confidence is as high as possible and the risk element is reduced to a minimum.
3. Betting before informing yourself
A key mistake, commonly made by novice players, is placing bets before informing yourself. Professionals horse racing wagerers invest a lot of time into comparing statistics of individual horses, odds at best bookmakers listed here, etc.
It is vital to obtain as much information on each horse as you can in order to place informed bets with potentially higher winning chances. You can inform yourself by visiting the walking ring where horses exercise before each race. If you see a bandage, it might not be a decoration but instead, show that the horse needs support or protection on that area.
4. Being too confident
Being too confident on your horse is a common mistake, done by both novices and experienced punters. In actuality, you should expect the worst. Always. Professional horse racing punters know that anything can go wrong.
You see, everything is dependent on the horse, so you can never be certain that things will be okay. What is more, since putting a horse in place requires a lot of effort, there is always the possibility of the animal making a riot during a race.
That is why it is easier to be a realist and, if need be, always assume the worst.
5. Becoming obsessed with the start run
Of course, it is natural to let the start performance of a horse guide your analysis and betting choices. In actuality, however, the beginning of a race is far from the most important thing to take into account. There are various other factors which should be considered when making a decision.
To illustrate, just presume that betting on horses is like betting on football teams – there, too, start performance has little to do with the overall outcome of an event. Of course, it is great when your horse has a running start, but if the odds are not suitable, then betting on it is pointless.
All in all, betting on horse races is a very lucrative enterprise, especially when you avoid the aforementioned mistakes.