Horse racing is one of the oldest and most popular sports in Canada. The sport provides plenty of betting opportunities and rewards for aficionados. But not everyone who bets wins. This is why our horse racing experts came up with this top horse racing strategy guide for bettors looking to win their wagers when betting on horses.
In this guide, beginner and seasoned bettors will be provided with a list of the best Canadian racebooks to bet, and the best 5-step horse racing strategy. We will also simplify all the jargon associated with the basic horse racing strategies that you find online and help you understand how the odds for horse racing work. Read on to start making more valuable horse racing bets today!
BEST CANADIAN RACEBOOKS 2020
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WHAT YOU WILL FIND IN THIS HORSE RACING STRATEGY GUIDE
THE BASIC HORSE RACING BETTING STRATEGY: 5 EASY STEPS
Horse racing is one of the sports known to attract all sorts of bettors; from beginners to well-seasoned bettors. This is why you will find all kinds of horse racing betting strategies on the internet. And truth be told, you do need some sort of strategy to make successful horse racing wagers. Below we provide you with one of the best basic horse racing strategies in five easy steps. Trash all the jargon and wager in a way which is simple to understand.
STEP 1: DO YOUR RESEARCH
Doing your homework is the first step you want to take before you can place wagers on anything. Lucky for you, we are a great start. In our comprehensive horse racing guide, we discuss how horse racing online works, the types of wagers available and how to bet. More so, we provide you with useful information about the different racetracks and events that you can bet on such as the Derby, Breeders Cup, Preakness and the Belmont Stakes.
In addition, you should also research the horses that you wish to wager on. Is the horse in a good state? Has it sustained any injuries or gotten sick previously? What are the experts saying? What is the public consensus? Is it still the same trainer or jockey working with the horse? How were the horses’ latest performances? For instance, you can choose your Belmont Stakes or Triple Crown winner based on how a specific horse performed at the Derby and the Preakness.
STEP 2: LEARN ABOUT THE DIFFERENT WAGERS
Learning about the different wager types is very important. Don’t just bet because everyone goes for that specific wager type. Not everything works for everyone. For instance, someone might be good at picking trifectas, and you might be good at only pick the winning horse. More so, we strongly advise bettors to start with straight wagers as these are much simpler than exotic wagers as they mostly involve one horse. These are the win-place-show wagers, and exotics are the exactas, quinellas etc.
STEP 3: DEVELOP YOUR OWN METHOD FOR HANDICAPPING
There are quite several horse racing systems and methods to work with online. But the decision always lies with you. You can either collect data, evaluate it and illuminate scenarios where there is a clear advantage of the outcome of a race or horse racing tournament. Or you can use the best horse racing betting systems which require you to only bet on spots where there is a clear advantage. These are much quicker and less draining. Below are the most popular methods among Canadian bettors:
- Dutching – The dutching horse racing system is the most popular among bettors. It basically ensures that when punters bet on a certain number of horses, they wager the same amount regardless of which horse actually wins. This system uses three different formulas; one to calculate the implied probabilities, one to calculate the stakes and the other to calculate winnings. Players need to set an amount they wish to bet and then work our how they can split the stake to guarantee a profit when the races finally finish.
- Value Betting – a more general strategy which is used in various sports. Here you check if a certain selection is over or underpriced. For instance, if a horse is underpriced, it means it has a higher chance of winning than one that’s high-priced.
- Betting Against the Favorite – simply wagering against the sportsbook favorite. According to statistics only 1/3 of favorites actually win a race. So, in other words, the favorites are more likely to lose than win. Sometimes favorites are perceived that way because they have the most amount of money bet on them than a higher probability of winning. But we recommend that you get your handicapping techniques in check to try and identify weak favorites.
STEP 4: SET A BUDGET AND STICK TO IT
Having a strict bankroll management strategy is very important. You really don’t want to go broke or even get yourself in debt because of irresponsible gambling, do you?
Before you can start betting on your favorite horses, you will need to set up a budget and stick to it. Don’t use money that you really need to gamble and don’t gamble out of desperation or chase your losses.
STEP 5: WATCH HORSES
Horse racing is the third most popular in Canada. However, according to reliable sources, it is not the most-watched since it is not much of a thrilling sport. Instead, people love to bet on it. That’s one other common mistake among gamblers, and this is why you lose your wagers. Watching horse racing is quite important because you get to tell what horse performs how on what track. Say you want to bet on the Triple Crown winner but you’ve never watched or read up on a single race, not the Derby, not the Preakness and not the Belmont Stakes – how will that turn out? You’re more likely to lose your wagers than the next person who’s actually watching. You can make use of horse racing live streams, visit the tracks or catch highlights on local television channels.
HOW TO SHOP FOR THE BEST HORSE RACING ODDS
It’s very important to compare racing odds at the bookies as they let you know what your potential return on a wager is. Here we provide you with the best racebooks that have competitive horse racing odds prices. Below are how the odds in horse racing work:
- Fixed odds – here the bookmaker pays out based on the amount you wagered.
- Tote/pari-mutuel betting – the odds are calculated based on the pool size of all stakes made for the bet. The more the bets, the larger the pool.
- Exchange wagers – the latest betting system where you’re essentially betting against another person. Bettors essentially pick a horse, set their own odds and stake, then the next person wagers against that horse racing pick.
THINGS TO REMEMBER
Horse racing is quite an amazing sport to wager on. However, you need to be smart about how you wager. Keeping yourself updated and trying out different strategies is the way to go. It’s good that you take one step at a time as a beginner; that is first familiarising yourself with the concept of horse racing, learn how things work and then you can escalate to trying wagers for skilled bettors. Start with one horse, then go for two, then three.