Although not a specific job, per se, horseracing betting is a popular method of radically increasing one’s wealth…if you do it right. Horseracing betting is an exhilarating pastime that can make you win (or lose) big. Provided you do your research, obtain a comprehensive understanding of the mechanics behind horse racing, and of course with a slight amount of luck behind your back, horseracing betting can be an efficient and rewarding method of increasing the depth of your wallet.

And with the esteemed Melbourne Cup on the horizon and horseracing betting in the peak of its season, there has never been a better time to learn more about the complexities of the profession.

Discover How to Become a Great Punter

The first and foremost step you should undertake if you’re looking to get into the horseracing betting industry, is to develop an understanding of how horse betting functions.

Glossary of Terms

Win – your horse must place first to collect winnings

Place – your horse must place first or second to collect winnings.

Show – Your horse must place first, second or third to collect winnings.

Exacta – You play two horses, and they must place first and second in exact order for you to collect winnings.

Exacta Box – you play two horses and they must place first and second in either order to collect.

Trifecta – You play three horses and they must place first, second and third in exact order to collect.

Trifecta Key – you play three horses. One horse you chose to win, and the other two must come in second and third in either order to collect.

Trifecta Box – You play three horses and they can place first, second and third in any order to collect.

Superfecta – You play four horses and they must come in first, second, third and fourth place in exact order to collect.

Superfecta Key – play four horses, deem one the key horse to win. Second to fourth can come in any order to collect.

Superfecta Box – play four horses, they come in first to fourth in any order to collect.

Colour Coded Tiers

Colour coded tiers are displayed as the background colour of each horse’s program number and denotes each horse’s experience and skill level. The colours range from dark green to yellow with dark green being the most likely to win. Most punters recommend to key the horses in the first dark green tier, particularly in the case of single bets like Exacta or Trifecta. There I also a special grey tier, which means that particular horse is not rated. However, this doesn’t necessarily mean they are bad but usually indicate a lack of available data.

Choosing Your Races

Being selective with the races you partake in is key to maximising your profits. Rather than throwing wild bets around in every race, it is best to focus on races with smaller top tiers. Choose races with only on or two horses in the top tier and try to avoid ones with horses in the grey tier as they are often unpredictable.

Spending Money

When it comes to horseracing betting, it goes without saying that the more you bet, the more you will win. Yet at the same time this means the more you will lose. The more specific and higher risk your bet, the more you will gain in the case of a win. Betting types and amounts largely depend on individual races to ensure you do sufficient research prior to a race.

When you do find a race to your liking, be prepared to dedicate enough money for making a proper bet. Stick to simpler bets such as win, place or show or exactas if you can’t afford to spend more on more convoluted bets. But if you can, try not to be stingy as eliminating a single horse from a combination to save a few bucks could potentially cost you hundreds or thousands of dollars in lost winnings later on.

Base the Bet on Past Performance and Current Ability

Workouts are current indicators of a horse’s current form. Their past performances signal a horse’s basic ability but workouts are particularly vital because the horse in the best current form will usually prevail. Workouts highlighted in red are quality workouts.

Track

Be careful to factor in the surface of a track into each horse’s predicted performance. Most horses are either track or turf horses so ensure they are on their comfortable surface before betting. Similarly, some horses prefer a dry or a wet track, so make sure you research your horse’s most successful tracks and compare it with the track of the race to better predict their outcome.

Uncover Secrets of Horseracing Betting

One of the best tips when it comes to horseracing betting is to acquire expert advice. This enables you to better decipher all the complex terminology and aspects to consider when placing bets on horse races. Practical Punting is a professional source of advice that understands such complexities and can translate this understanding into increased chances of winning for you.

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