There is something about the excitement of having a wager placed on the winner of an event that makes it difficult to contain one’s self. Whether you are placing a bet on the winner of the Kentucky Derby, Preakness Stakes or Belmont Stakes, there is no escaping the feverish atmosphere that descends upon those who indulge in this popular American pastime.
The thrill of betting on horse racing is all the more exciting when you consider all the odds that you are able to get behind the horses in question. The longer the odds, the more rewarding it is to hit the right horse and wager on its ability to win the race. When you are not familiar with the rules or odds of horse racing, it can be difficult to know where to place your bets and what chances to take.
Let’s dive into why you can’t always win betting on horse racing and how you can improve your odds of hitting the winning ticket.
The Mathematics of Horse Racing
The odds in horse racing are always in favor of the house. It’s impossible to affect the outcome of a horse race in any way, except by cheating. The longer the odds, the more rewarding it is to hit the right horse.
The way that the odds work can be explained with a very simple formula:
The formula is (the favorite minus the odds paid by the bookmaker) divided by (2 + the favorite’s odds) times (2).
For example, if the favorite odds are 5 and the bookmaker paid 1.5, the odds are 7.5 in favor of the favorite.
And if the favorite is 5 and the bookmaker paid 2, the odds are 10 in favor of the favorite.
You may be wondering how you can possibly win betting on horse racing. You’d have to find a way to hit the perfect combination of racing favorites, and that’s a feat that very few achieve. It’s not impossible, however, with a bit of calculation and research.
Hitting The Perfect Combination
Let’s say that you want to make some money betting on the Kentucky Derby. You’ve decided that the best way to achieve this is to place bets on a few horses that you believe have the best chance of winning. Before making your selection, you do your research and discover that Cool Papa Becket is the favorite at 3/1, while My Funny Valentine is the second choice at 5/1. You then place your wager on the latter and are delighted when your selection wins the race, resulting in you collecting the cash you staked on it. This is exactly how a few lucky people achieve winning wagering exploits on horse racing, but it’s not an easy task.
The key to hitting the perfect combination is to find a group of horses that are evenly matched. After all, if you are going to bet on a few horses in a race, you may as well pick those that are most deserving of your attention. This way you can ensure that your wagers are going to pay off.
One of the best ways to find this combination of winners is to look into places like https://winbest.io/ which provides you with all the information you need to place wagers on the winners of major horse races wherever you are located. Doing your research and following the right leads can put you in a positive position to win big.
Why The Past Performance Is Important
One of the main reasons why hitting the perfect combination in horse racing is so difficult is that you have to pick winners that are capable of running fast. And since the odds are heavily weighted in favor of the house, it’s essential that you base your betting on proven performers rather than on young, untried horses who may turn out to be ungovernable. You may not always get the best return on investment if you gamble on horses with little or no experience. On the other hand, you may suffer huge losses if you bet on unproven, untried horses and they don’t live up to your expectations.
By the same token, it is also important that you look for signs of improvement in the horses you select for betting. And when the time comes to place your wagers, it’s essential that the horses live up to your expectations rather than falling short of them. In other words, you want to make sure that your wager is going to pay off and that you’re not going to end up losing more than you can afford to lose.
Research Is Important
It’s not enough to just pick a winner and place a wager on it. You have to do your research first and make sure that you’re aware of all the risks associated with this particular wager. Even if you do your research and discover that the favorite is the proven performer, Cool Papa Becket, and that My Funny Valentine is only a struggling 2-year-old, you may be in for a rude awakening if the 2-year-old runs faster than expected and rips the favorite to shreds. In this case, you’d lose both your money and your faith in the research you did before placing your wager.
There are countless examples of people who lost large sums of money by getting taken advantage of by bookmakers and gamblers. If you keep this in mind and are wary of all the hidden risks, you’re going to be a lot safer and more likely to hit on the winning combination. And you’ll also be able to enjoy the adrenaline rush that comes with placing a wager on the race that you follow avidly.
Since the odds are heavily weighted in favor of the house in horse racing, it’s essential that you are aware of this fact and make the right calculations before placing a wager. If you have a background in mathematics, you may find it easy enough to calculate the winning odds for any given horse race. For those who are less mathematically inclined, there are a number of online tools that can calculate the favorites in a given race and provide you with all the relevant information you need to place a winning wager.