Horse racing has been around for centuries and has always been a popular sport in which to indulge one’s passion. For those who love the feel of the horses’ sweaty flanks brushing up against them as they pass by, there are ways to make a stable monthly income from betting on horse races. There is more than one way to make money from horses, but most of these methods require either a lot of capital or a lot of experience to get going.
Although it may be tempting to jump into the world of horse racing and try to make a fortune, it’s best to start small and build up from there. Begin by placing small bets on favorite horses in amateur races before moving on to betting on more expensive sports cars or exotic birds. Once you’ve established a small bankroll, you can start exploring the different betting markets available and determining which ones suit you best. Some people like to bet on the daily schedule of horse races, while others prefer to look at past performances and form in order to determine likely winners.
Wins Pay, Losses Don’t
One of the best things about betting on horse races is that wins pay off and losses don’t. When you place a bet on a horse and it wins, you’ll earn money. If the horse you bet on loses, you’ll simply lose what you put down. There’s no risk of losing money on a win.
As a newbie, it’s best to stick to placing single-digit odds on horses in order to make it easier to stay within your budget. Sticking to these low odds will also familiarize you with the terminology involved in betting on horse races and make it easier to learn when to put down money and when to walk away. Avoid betting on long-shots as these usually end in losses as well. Walk away if the horse you’re backing ends up being a long shot, and keep a closer eye on the closing odds as you may find a cheap-shot horse that wins!
Use An Existing Account
If you already have an account with a bookmaker, this is the ideal way to make a quick buck. Simply log in and check what bets are available on the various horses in the sport. If you’re looking to make a small investment in horses, you can use the existing account to quickly liquidate your funds and get going. This is especially beneficial if you’re looking to buy a horse that will be competing in another country since you won’t have to wait for the results to come in before collecting your winnings.
Don’t Forget The Tipping Point
Many people make large sums of money betting on horse races and even place bets on whether or not a certain horse will win a certain race. This is largely due to the fact that they’re using betting calculators which tell them odds and totals of each individual horse in the race. If you’re new at this, don’t get carried away by huge sums of money being offered on certain horses as this usually indicates that the bookmakers have something to hide. Instead, look at the overall form of each horse and place your individual bets accordingly. Trying to beat the system by using sophisticated tools to predict the results of horse races is largely useless unless you’re prepared to bet accordingly and know what you’re doing.
Don’t Forget Experience
Horses are a pretty un-predictable animal and this certainly holds true when it comes to betting on them. This is why many people prefer to rely on experience rather than statistics when betting on horse races. If you’re looking to make a quick buck, then it’s best to find a cheap, local horse track and start placing bets there. You may also want to consider getting a job working for a bookmaker or an online betting operation in order to gain some experience and build up a bankroll before moving on to higher stakes racing.
If you’ve decided that horse racing is for you and you want to do more than just make a quick buck, then you should look into joining a horse club. These are groups of people who get together to race their horses, socialize, and occasionally have a bit of a bet on the side. There are many benefits to belonging to a horse club including the availability of professional help if you need it and, in some cases, the ability to earn money by simply competing at certain racetracks. You may also want to consider joining an amateur sports club in order to get regularly get trained and to socialize with people who share your passion for racing.
The point is this: If you really want to get into the world of horse racing, it’s best to start small and then build up your bankroll gradually. Walking into a casino and placing large bets on exotic birds or sports cars without any experience is generally not a good idea as these usually end in losses. Taking the time to learn the ins and outs of betting on horses and using this information to place profitable bets is generally the key to making money from this sport. If you keep this in mind and obey all the rules, you’ll be able to have some fun while also maybe making a small profit from time to time.