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News: Common Mistakes to Avoid

When You Bet on Horses

25.06.2020 - Bettors usually win a bet because of luck. However, with the right tips and tricks, expert horse racing punters have proven useful, you will have higher odds of winning from your bet. Unfortunately, there are also a handful of bettors that have fallen victim to different wagering habits and mistakes that makes winning nearly impossible. Thus, it's best to learn from other's mistakes to avoid doing it yourself.

Here are some common mistakes that new horse racing bettors make you should avoid, ensuring your chances of winning.

Playing Too Many Races
An effective bettor must learn to choose his spots and back his best opinions with most of his wagering capital. Thus, it is essential to focus on a particular track or series of races when horse betting.

However, many new players fail to do so because they bet on multiple tracks without focusing on a single one. Keep in mind that there's a higher chance to profit from betting if bettors are selective with the races they bet on every time. Betting one track at a time will allow you to focus your time and energy on one track only.

However, if multiple betting games are too irresistible, try to bet lesser amounts of money than betting a huge amount.

Chasing Your Bets
Chasing your bet happens when you try to get back all your losses from previous games to the next betting game. Chasing bets is one of the oldest yet most common mistakes new bettors make. In betting, bad days are unavoidable, but it can quickly become disastrous when bettors aren't able to control themselves and chase losses.

Let's say a bettor usually has a $150 budget on races daily. On a lousy afternoon, he came up empty-handed. He doesn't have any money left, but there are still a few races on his card. Because of his unwillingness to accept defeat, this bettor invests another $150 to recoup his losses from earlier by betting wildly on more horses.

This scenario might be familiar to any bettor. One way or another, bettors have experienced chasing losses. Most likely, it ends badly and would only make losses bigger.

Keep in mind that emotions are the least important factor when betting. A competent player must have credible will power and can accept setbacks at any time of the day.

Lack or No Preparation
Planning is probably one of the most critical things in betting, as it is anywhere else in life. If a bettor fails to plan, he'll most likely end up failing.

Betting uses real and hard-earned money, so any typical bettor should have enough time managing and planning on how and where to spend the money.

Any bettor should have enough prior knowledge about the jockey and horses. The most significant mistake many novice bettors make is randomly placing bets without knowing anything about the horse or the rider.

Many professional and successful horse race bettors are critical when choosing who and when to bet. They spend ample time comparing several performances and statistics of different thoroughbreds. Most of them also compare odds on plenty of websites and obtain data that might affect their final betting decision.

Aside from comparing odds online, visiting the walking ring where horses are prepared and exercised before the race can be helpful. Check their health and current state if you want to be sure of your decision on the race.

Becoming Preoccupied with the Horse's Starting Run
A horse's starting run is an excellent guide when betting, but this isn't the only factor to consider.

Many players fail because their betting decision is mainly affected by the starting run. Keep in mind that there are many other factors to consider when placing your bets, most holding more water than the starting run.

You can consider taking a look at a form guide and analyzing data, like the stall position, finishing place from previous races, days since its last race, official ranking, and trainer and jockey data.

When deciding your bet, consider as many elements as possible to give your wager better odds of winning.

Avoiding Horses Because of a Wide Barrier
A wide barrier might seem like a significant drawback for a thoroughbred. Even experts occasionally note that horses with full barriers have betting risks.

However, we should always keep in mind that each horse performs differently on different tracks. The bias inside barriers makes such wagers less successful than others.

Remember, wide barriers are better for on-pace horses. Jockeys on horses drawn wide have the chance to jump, create natural speed, and evaluate other horses beside them.

Wide barriers will also give a better opportunity to work across the field while keeping the horse in a better rhythm. However, if a horse comes off slow in the beginning, there's a high chance that it will stay behind its opponents. If this is the case, avoid betting on it.

Avoiding the wide barrier alone is not an effective way to win your bets. Remember to be factual and evaluate all angles before placing a wager.

Trying to Guarantee Wins
Lastly, being a successful bettor also means accepting that the outcome of any bet remains unpredictable.

Considering a lot of factors and preparing well for the race day is helpful in wagering, but always keep in mind that there's still a risk in every bet. Try to keep your betting risk at a minimum, as there is no sure formula in winning 100% of any wager.

Betting on horses is a fun and thrilling recreational activity that anyone can do. However, keep in mind that it is your hard-earned money that you are wagering. Keep your risk low, and don’t get caught with the moment by being smart with your betting choices.