This is the first in a series of articles that will cover the importance of managing your money effectively whilst betting on horse racing.
You would be surprised just how often this is overlooked by punters, and getting it wrong can be financial suicide.
A popular question that I am asked when members join my service, is “how much should I bet on each horse?” Another one is “can I realistically earn £500 per week by using your horse racing tipster service?”
Before I go into a little detail here, let me first explain that this is completely the wrong way to go about it.
Why? Well, the answers to those questions all depend on your personal circumstances, and as I would have no idea what your personal finances were (nor would I want to as that is your business of course), I would be unable to give you an accurate answer.
Before I discuss the money side of things in detail, I would first like to explain about how I do things, and how this may help you decide how to start betting on horse racing in a structured, focused and professional manner.
You Must Look For Value
This may indeed mean a change in philosophy for many punters. I’ve seen many a person in the local bookies purely backing favourite after favourite. Please promise me something, do not do this.
Favourites generally win less than a third of the time, and this statistic couple with the prices that you’d receive from betting on favourites, does not make it a long term viable proposition.
The key is to know when to bet on a particular horse, and so therefore, know when its price represents good value for your bet, right? Correct.
Now this is of course a little harder than it sounds, but it is by now means impossible and it is why there are thousands of professional punters out there, making a killing.
What You Should Not Do
Imagine that you walk into a car dealership to purchase a basic family saloon car. You’d have an idea of what you wanted to spend versus what the likely cost of the car is, wouldn’t you?
So would you be shocked if the salesman approached you, explaining that the Ford Mondeo you were looking at would cost you £250,000? Of course you would. The car is clearly over priced and I imagine that you’d instantly walk away without purchasing the car.
Well, strangely enough this is not dissimilar to betting on horse racing, as many punters will simply take any old price on a horse, just because they think it will win.
So you can now see that this would be a huge mistake. Making a profit from betting on horse racing, whether you are choosing the horses yourself or using a horse racing tipster service, is achieved by looking at value priced horses.
To use the car analogy once again, it would be a bit like acquiring a brand new top of the range Ferrari, for the price of a Ford Mondeo.
Now, of course this is an extreme example but I hope it illustrates what we try and achieve here. By doing this, you will profit in the long term, as you’re getting an increased value for your bets.
In Conclusion
So the lesson here is to only ever bet on a horse when you know that have value on your side. If you do not, then the best thing to do is to just let the horse run. Developing this habit does take a little work, so do not be disappointed if you find it difficult to being with.
But with practice, or by following someone who may be an expert in the field of betting on horses, you can soon develop this most crucial of betting habits.
In the next article in this series, I will discuss how to assess a suitable betting bank for your exploits.
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Help answer the question about horse racing
Legit and safe online horse racing betting website?Does anyone know of a legit online website where I can bet on horse racing? I'm mainly interested in trotters only.
About Author
Cliff Thurston is the owner of Grosvenor Racing Club, a successful horse racing tipster service. For more information and free horse racing tips for 21 days, please visit: http://www.grosvenor-racing-club.co.uk
Nice work, you did pretty good.
You’re really good man. You’ve got excellent talent.
woww that’s really relax and beatiful soung .good picture of jhony depp !
Most owners actually don't make money racing.
Only about 70% of all Thoroughbreds ever get to the races, and only about 55% of all Thoroughbreds ever win a race. It costs about $25,000, give or take a few thousand, to keep a horse in training for a year; more for the major racing centers like New York or Southern California, less for tracks away from the major population centers. roughly 10-15% of all Thoroughbreds earn enough money during the course of a year to cover their training expenses.
Some owners can recover the residual value of their horse at the end of its racing career by selling, but most racehorses– particular male racehorses– have residual value that is low or even zero at the end of their racing careers.
Basically, most people who are in racing are in it for the excitement, the fun, the competition; and the hope that maybe they'll be the one to strike it rich with a horse like Mine That Bird– or one of his relatives. It's the hope of getting that one special horse, plus the love of racing in general, that keeps people going.
As I always say, there's a village missing it's idiot somewhere and they can usually find them trolling on here. They think that if they repeatedly ask the same question and rave their PETA misinformation, that someone might actually end up agreeing with them. Let's hope not!
amazing! Willy teach me how to paint like you!
Very nice!!
Perfect.
:O
:O
:O
how is this not a real photo?
You can go to the site for the Daily Racing Form at it should answer your questions also at any track the program will have instructions inside the cover explaining how to read the form and also how to make all wagers including the exotics.
I think this gives a good explanation of the definition of the various track conditions:
http://www.ultimatecapper.com/track-conditions.htm
That said, it's important to note that because there is no standard for track composition in terms of sand, silt, clay, loam, organic matter, and every track is different, each track plays differently. To cite one example, the track at Aqueduct has a high sand content because the dates run at Aqueduct are typically the wettest times of the year. So the track superintendent finds it beneficial to have a lot of sand in the track to assure fast drainage. The result is that when there has been a lot of rain, the main track at Aqueduct can be like a wet beach– it packs down and gets harder. You may get faster times on such a track than when the surface is rated "fast".
Churchill Downs historically has had a high clay content in the track surface, with the result that the track can be very cuppy at best of times ("cuppy" means that when a horse strides on it, the hoofprint forms a "cup" on the surface of the track; it has depth, and it holds its shape rather than immediately crumbling) and can be really sticky and tiring when it gets wet.
A lot depends, too, on how the track superintendent deals with rainfall. At Santa Anita and Hollywood Park in the pre-synthetic days, the superintendents had enough time in most cases to get out the heavy roller equipment and "seal" the track before rain came. Basically when they seal the track, they're rolling and compacting the surface so that instead of water penetrating and making the track muddy down deep, the water just runs off the surface and drains away. Of course, the problem with this is that even when they opened the track surface in preparation for the day's racing, there was some compaction and the track would tend to get harder. During some of our rare wet winters, the track superintendent would sometimes have to close the track to exercise in order to do deep harrowing and conditioning of the subsurface and base after the track had been repeatedly sealed.
With synthetic surfaces, I think everyone, including the people who manufacture and install them, is still on a learning curve of what has to be done to keep the track consistant and safe in all kinds of weather.
From a handicapping standpoint, the important thing to remember is that each track is unique, and that you have to become familiar with what the weather conditions do to the the individual track surface.
You need to go to a reputable trainer and tell him you're interested in buying a horse. Tell him how much you've got to spend and he'll do the rest. He might have a horse in his yard that's already for sale or he might go out and buy one for you.
Don't go buying horses over the internet!
The flat trainer Richard Hannon has had some good successes with cheaply bought horses in the past. He trains in Wiltshire.
http://richardhannonracing.tv/
Don't forget you'll have to contribute towards the horse's training expenses every week so the more people involved the cheaper it will be.
Brilliant Willy, Just Brilliant =D
i don't like the gambling, the horse race is alright, mainly only good in the Kentucky Derby when you are really rooting for a horse to get the triple crown
hm i couldn’t tell the difference between photograph and painting comparing the final resault.
This is sick
Its people like you, that pissin' an moanin', that ruin the world…………………..
http://www.xpressbet.com
You have to sign up, but it's completely free. There's no fees for watching or betting. And they have like 60 tracks you can watch. It's a great service.
Several tracks have their own broadcasts on their website, but xpressbet is great because you can get all the tracks in one place and place a bet if you'd like.
Hi,
A jockey has a very dangerous job, but a very important one. He must guide the horse in the correct way as to know how his horse runs, and performs during a race. It is his responsibility to get his horse in the correct position, and know how to guide him through traffic going at very high speeds while the rest of the field is fighting to do the same. Jockey error has played a huge roll in injuries to other jockey's and horses. The horse does the running, but it is up to the jockey to know how fast the horse runs, and when to ask the horse for his best without compromising. So the roll of a jockey is very important. Without a jockey it would be like racing a car with no driver. Hope this explains it to you.