How to Create a Betting Model in Excel for Horse Racing Results

Horse racing is one of the most popular sports around the world, and it’s gaining popularity in the UK as well. Many people enjoy the thrill of taking a punt on some horses, but it can be difficult to know how to create a betting model on your own. Thankfully, we’ve managed to find a way for you to build a reliable model with just a few simple steps! Let’s get started.

The Basics

The first step is to set up your betting account with a bookmaking business, such as a number of online bookmakers offering betting exchange services. You’ll then need to link your bank account to the bookmaker (this is so they can process your bets). When you link your account, you’ll typically be given a unique ID and password. Use this information to log in to your account when you want to place bets or check your winnings.

What Type Of Horse Races Do You Want To Bet On?

The first thing you’ll need to consider is the type of horse races you want to bet on. There are many different variations, and it can be tricky to know which type suits you best. Typically, you’ll want to bet on races that are based on skill rather than on physical appearance, such as jousting, sword fighting, or driving. This is because it’s easier for the bookmaker to objectively assess your horse’s talent rather than their looks.

Do You Want To Bet On Single Races Or Do You Want To Build Up A Bankroll And Back It Up With Several Inbetweens?

The next step is to decide whether you want to bet on individual races or instead build up a bankroll and back it with several inbetweens. An inbetwee is a type of wager where you place a bet on several horses that will run in the same race. The payout is based on how many horses you select, and the odds change as the race approaches. You might, for example, wager £1 on each horse in a three-horse race. If your horses win, you’ll get winnings equal to three times your investment. If they lose, you’ll lose the sum you put down on one horse.

If you want to bet on individual horses, then you should opt for placing bets on these instead of inbetweens. This is because you can’t simply reverse a bet if your horse loses. With inbetweens, however, you can take your loss on a particular horse and have another chance at winning with the rest. The risk is the same as if you were placing a bet on an individual horse, but with the added bonus of potentially winning some extra money.

When Do You Want To Bet?

Now, this is something that varies from person to person, but generally, you’ll want to bet on horse races between 1 o’clock and 6 o’clock in the afternoon, when the majority of the betting action is taking place. You may not always want to follow this schedule, but it’s a good guideline to follow to maximize your potential for winning.

Where Do You Want To Bet?

When you’re planning on betting on horse racing, it’s important to consider where you want to do this. Most people like to follow sports like football or cricket where there’s an obvious venue for the matches, but this isn’t always the case. For example, greyhound racing and harness racing take place at dog tracks, which can be anywhere. You may want to consider the location of your bookmaker’s headquarters when deciding where to bet.

What Equipment Do You Need To Get Started?

One of the most important things to consider when getting into horse racing is what equipment you need. You don’t need a lot, but you do need enough to feel comfortable. The most important item to have is a calculator. These can be expensive, so if you want to keep things simple, stick to using your phone’s calculator.

You may also want to consider getting a watch designed for sports that require a lot of analysis, such as golf or tennis. These watches are more expensive but can be useful in tracking statistics such as shots taken, scores, and so on.

How Do You Want To Handle Financial Transaction?

The next step is to decide how you want to handle the financial transaction side of things. There are several options to choose from, including PayPal or Credit Card (Visa, Mastercard, or American Express). To prevent any unnecessary transactions fees, it’s best to use a credit card, as these often have zero percent conversion rates (this occurs when a credit card company converts a bank fee into the cost of the item being purchased).

Additional Tips

In addition to the above, you may want to consider the following: