This question is ambiguous on the inside, don’t you think? Good sources have it that owning a racehorse or many of them will not form a profitable business. There is no guarantee that even the best-bred horses will do impressively on the track. Also, the horses can cost you in terms of vet bills – like pets. They get injured or sick. Anyone willing to start a horse racing business shouldn’t look forward to clocking million-dollar figures. Instead, they should focus on being wealthy (get it?)
Or maybe you’re not here to start a horse racing business. Instead, you want to engage in the subject of horse race betting. Well, let’s work with that. First, betting on horses, like many other sports, can be very profitable. The people who spend hours researching their horses then placing bets have the potential of making a lot of money. As with all other forms of gambling, there is always some risk involves in the horserace business. If you want to step in and place your better, newsflash – you will lose at some point.
Sports, Horse Racing, Betting, And Profiteering
One of the reasons why business-minded people and fans take part in sporting events is because of sports betting. As noted, sports betting is, in every way, a form of gambling. A bettor believes that your hunch is the true one – that the stallion racing in the afternoon will beat all the other horses in the flat race.
In horserace betting, categories are broad to give wagers more winning opportunities. Also, tournaments organized for horse race competition offer lots of purse prize. As long as a fan knows the rules, they can dive in and bet in any horse matches. Among others, betting sites are the way for you to start profiting from horse racing.
So, how does this sport step out as a more lucrative business? It should have a positive effect on the betters, competitors, and entrepreneurs for it to be considered as profitable. In the following mini sections, you will explore the specifics of horse racing and its financial benefits.
How Horse Racing Benefits Owners Of Racing Venues
In the United States, there are many legendary fields for horse racing that exists. These places were built years ago, and during that time, they hosted big horse racing tournaments. This way, the industry earned a lot of money. These fields are not alive on the course alone – others come with casinos and offer other different gambling events.
For venue owners, the business of hosting horse races is quite profitable. Hosting a single racing event means attracting thousands of spectators. The more the audience, the more funds are generated. The most significant earnings come from entrance passes and the percentage of wages from partners.
How Horse Racing Benefits Horse Owners
People who own horses that get invited to participate in the events see it as a means of earning a living. Since they have the horses, they engage with riders to acquire them through bidding. This way, the horse owners ensure that they get the best value for their money. Also, the horse owner looks at variables like the racer’s success rate to guarantee the racer’s success on the course.
Betting becomes a bankable way for horse owners to earn money. Imagine how much money an owner could make if they have a couple of horses in good shape. Also, imagine if those horses get people with impressive equestrian experience who participate in many competitions. Indeed, the gains are significant.
How Horse Racing Benefits Jockeys, Trainers, And The Gambling Industries
More and more gambling platforms are getting established. This is making it more convenient for bettors to take on their business with ease. Because of this breakthrough, the industry has become more profitable. Marketing strategies such as advertisements draw punters to sign up for betting as the platforms get patronized very well.
Jockeys and trainers are on the payroll too. Someone needs to develop the racer’s saddling skills, and that is why the jockey is present. Also, the jockey needs to ensure that the horse runs inside the field during the race. If trainers and jockeys do their absolute best, they get to earn big.
How Horse Racing Benefits Bettors And Sports Fans
In all the betting businesses, fans and bettors are at heart. They are the parties that see more than the fun and feel more than the adrenaline rushes. They know every gallop and every dash as a moment closer to winning their bet. It would help if you noted this – unlike other sporting events (except soccer), horse racing provides bettors bigger and broader categories. This means that there are better chances to win a high payout bet.
You are here to learn how to profit from horse racing, and you will. Horse racing is among the many sports that reward big time in terms of betting payouts. As you move forward with this read, you will be opened up to the nuances of horse racing betting. Also, you will get guidelines to hone your betting techniques and help you win at the right time and pace.
Horse Racing Odds
I am sure that the odds are familiar to you. Like in other sports, odds are the numbers that set the payout price of any bet. They communicate how much earnings you will get, how much money you should stake, and the probability of the outcome you wish to bet on.
In horse racing, odds are displayed as 3-8 or 3-6. Look at the first two-part figure: 3-8. This is interpreted this way – for every $8 you spend, you will get $3, and so, the total payout will be $11. If you do your calculations, the rational number of the odd is 0.375. This means that there is a 62.5% chance of that outcome to occur.
Odds get displayed in some formats, but the common ones are two:
1. Fractionally – You will get a horse having a displayed odd mark of 4/1 – four to one. This means that for every $1 you stake, you will get winnings worth $4. The possibility of this occurrence is 400%, which is too incredible.
2. Decimally – this type of odds’ presentation is a recent development in the industry. When the odd is displayed as 1.25, you should multiply the figure with the money you want to stake. For example, placing a $2 bet will get you a 50 cents return.
Check the following examples of odds:
|Odds’ Figure||How It Is Said||What It Means||The Actual Payout|
|6-5||Six to five odds||For every $5 you stake, you will get a profit of $6||Six divided by 5 equals 1.2, then add one equals to 2.2. 5 multiplied by 2.2 equals to $11.|
|20 odds||Twenty to one odds||For every $1 you stake, you will get a profit of $20||20 divided by one equals to 20, then add one equals to 21. 21 multiplied by one equals to $21.|
Increasing Your Horserace Betting Skills
Among the many sports, horse racing is one of the most popular sports that engage both fans and non-fans in terms of betting. This is impressive if you consider that many people do not watch it – it ranks 26th in the US. Looking at that information, it is safe to say that people are tied to betting on horse racing that getting their adrenaline pumping. People don’t care. Well, some of them do, but not very many of them.
Also, almost every person who watches a horse race does so to follow up on their wager. As with all forms of gambling, very few people win. Other people who bet do it as social entertainment, so the outcome does not matter to them.
If you want to profit from horse racing, now is your chance. Reading to this point means that you are serious about winning. You will be ushered into tips you can use to increase all of your payouts.
This article will build on the fundamental understanding you have of horse race betting. You will get equipped with three tips that will increase your chances of earning. Also, you will get some financial management advice. Read on.
First Tip – Do Your Research, Complete Your Homework!
People in their thousands place millions of dollars in horse race bets each year. Surprisingly, only a tiny percent of the same people do any research before surfing through, getting a horse, and placing the bet. What you should know is that even the slightest, cursory glance at the racing program can raise your chances of avoiding money loss.
On betting platforms, there are items know as form guides (or racing forms). These give you all the knowledge you need to know about the nature of a race and the horses competing in it. The guide will not tell you the horse you should bet on. But, it will help you with all you need to know to make an informed decision.
Second Tip – Go For Many-Race Betting, And Not One Nor Every One
If you know about probability (math), you should sail through this section with little difficulty. The more times you place a bet (a wager), your chances of winning increase. Also, if you place a bet on many races, you stand out as a smart gambler than most of the horde.
Of all the amount spent in horserace gambling in a year, the total payouts are to the tune of 70%. That is during the Kentucky Derby.
These are so many horseraces in America, and the Derby is the most famous. In the series, the Derby is the first race. So, the point of this tip is that you bet on each of the Triple Crown races. This way, you have not one but three chances of winning. If you don’t know, the Triple Crown is made up of:
1. The Kentucky Derby
2. The Preakness Stakes
3. The Belmont Stakes
In the history of horse racing in America, there are only 12 horses that have won all three parts. Before the Derby comes up, you have a chance to throw in money on the races leading to it. The idea is to participate multiple times with horses so that by the time the Derby comes, you will know what horse to put your money on.
In horse racing, there is no better thing than to try out new things. When you do that, you learn more, and you become a better gambler by broadening your horizon. Here are the different kinds of races:
1. Flat Racing – here, horses that have been bred thoroughly run for 1 – 3 miles on a flat track. These are the most famous horse races.
2. Steeplechasing/Jump racing/The National Hunt – In this race, horses jump over obstacles until they get to the finish line. The blocks may be simple hurdles or a complex combination of water, trenches, and fences.
While there are hundreds of races to bet on, please don’t go for each one of them. Going this way would be the surest way of devastating your bankroll. So, the best way to go about it is to choose a small number of different races at any one moment.
Last Tip – Do Some Bankroll Management
It would help if you controlled your cash before betting gets to you. You need to make your budget and, thus, manage your precious bankroll. Every bettor needs to master this skill, whether they bet a little or a lot.
To start bankroll management, you first need to have the bankroll itself. Before you visit that horse-racing platform or place that bet, look at your account. Your financial situation should not be ailing – ensure that there is enough money for rent, bills, and groceries.
The best betting advice is that you should use leftover money – that is – the money that remains after you save. Also, decide on how much money you are ready to put on the line.
The amount you are willing to risk is what is known as your bankroll. First, ensure that it is in a different account or have it in cash. This will increase the likelihood of you not spending more. If you lack self-control, online sites or bookmakers will take advantage of you. Remember, do not overspend!
Also, choose the amount of money you want to stake ahead of time. Once you do, you will beat the temptation and the drive to give higher amounts.