While some people believe that winning a bet in the races is based on luck and going off of a hunch, this can only take you so far and, in a lot of cases, will lead to disappointment. While there is a degree of uncertainty where successful betting does fall down to chance, betting is also a skill that can be developed by adopting the right strategies.
Dutching
Dutching involves placing a bet on multiple horses to increase your chances of winning and essentially help you spread your stake across several bets to ensure that you’ll get a return regardless of the outcome of the race. However, be wary of this type of betting. While it does reduce the risks of losing much, it’s still a gamble, and you may still lose more than you win.
Say you place a wager on three horses. One with odds to win at 30%, another 25%, and the final 20%. If you stake $100 divided between these three horses, you’ll essentially divide this amount by those percentages, and that’s what you’d win if any of those three horses happened to win. However, if they lose, so do you.
Using a key
If you’ve noticed that a particular horse is dominating the season and is clearly the stronger horse and would likely win the race, you could use this as the key for several other bets. Essentially, this means that you’re using them as a foundation to place other bets. When using this strategy, place bets on what horses would pass the finish line after the key. This is often how punters get a more significant payout.
For example, if you’ve noticed that horse 4 is the strongest and would most likely win, consider what horses you think will come in after this horse. Make sure that you choose your key horse wisely, as it will have an impact on the overall price per ticket you purchase for the runner-ups.
Exacta, Trifecta, and Superfecta betting
We’ve already mentioned how these strategies can be integrated into others. Exacta, trifecta, and superfecta bets are placed on the order in which horses finish the race. Exacta is when you place bets on what horses will finish first and second; trifecta is a bet placed on the first three horses to finish, and superfecta is the first four horses to finish. Superfecta tickets are usually more affordable because they’re more difficult to predict.
The Yankee Strategy
Yankee bets also diversify your wagers a little. They involve placing a bet on four horses and a variety of possible combinations and outcomes. By doing this, if two of your horses place or win in their races in accordance with your bet, you’ll at least win something. Likewise, if all of your horses happen to win or place, then your reward would be much larger.
Box betting
Box betting is simpler than exacta, trifecta, and superfecta betting. However, instead of needing to choose the exact order in which the horses will finish the race in, you simply select 2,3 or 4 horses, and they can finish in any order. Their bet is based on those specific horses finishing first amongst the rest of the racing. Again, this spreads your stakes over a few horses, reducing your chances of making a significant loss but also improving your chances of making a significant profit.
What else can you do to place a successful bet?
Aside from adopting the right strategies, here are some other things you should be doing to try and place a successful bet:
- Do your research – pay close attention to the track conditions, weather, and current leaders. With some time and research, you could get the latest racing tips to help you determine potential winners
- Know the history of the jockey – as much as it’s up to the horse to run fast enough to win the race, you need to consider the jockey’s history and experience, as this will be a determining factor in how the horse performs
- Look at the odds – while the odds might not always be accurate, it’ll show you who the favourites are, and this will give you a good idea of who to vote for
- Pay attention to the horses while they’re in the paddock – if you’re fortunate enough to attend the races in person, go ahead and check out the horses while they’re in the paddock — are they eager to race, or are they looking mopey and withdrawn?
Final thoughts
We need to remember that betting is always a game of chance. At times, even if the odds seem in your favour, you could still lose. For that reason, it’s important to employ a strategy that mitigates the risk of losing your bankroll and significantly increases your chances of winning. Consider the strategies above, do your research, and practice-wise betting, and you should be able to land more wins this season.
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