One of the biggest industries in the world is the horse betting industry, which is currently worth around $402 billion and is estimated to reach around $793 billion by the end of 2030. Horse betting has become an incredibly popular pastime for many people, even more so now that you can bet online.
You might have even considered placing a few bets yourself but aren’t sure where to start. To help you out, this article will discuss five tips that those new to horse betting need to know, from betting efficiently to doing research, using bonuses, and more.
Bet Efficiently
The first tip that can make life much easier for horse bettors is to learn how to bet efficiently. It’s crucial to remember that with horse betting, you won’t be making a lot of money with each bet, which increases the importance of making some money when you bet.
This means you need to be sure before placing a bet that you will most likely win. Another way to increase your betting efficiency would be by using a bet-building site like the ones British Racecourses recommends here. These basically allow you to create multiple bets at various sites with a few clicks.
Always Do Research
The next thing you should do as a beginner to horse betting is research. At the end of the day, the one thing that separates a good bet from a bad bet is the amount of research that goes into it. Many new horse bettors forget many variables must be considered before placing a bet.
This includes the horse’s track record, the jockey’s success rate, the type of race, the type of track, the amount of training, and more. The more information you have, the better informed your bet will be. Betting without research is a quick way to lose all your bets and blow through your budget.
Compare Bets
Much like using a bet-building site, another thing you should do as a beginner to horse betting is to compare bets. Many beginners don’t know that different sites offer different bets and odds for the same race. Even though they might be similar, a dollar difference here and there accumulates after a long time.
In other words, even though that extra dollar or two you won won’t make a big difference now, it will benefit you after 20 bets, when it has become an extra $40. Always check different sites to see the odds for the race you plan on betting on.
Use Bonuses
Another significant thing you need to do as a beginner, which you should do early on to get into the habit of doing it, is to use the bonuses at your disposal. The bonuses you get will depend on the site you have registered with, which is why choosing the best site before placing a bet is important.
These bonuses are a great way to begin betting without using your money. In addition, sites will occasionally provide bonuses for different races to encourage bets. You should always keep an eye out for these opportunities.
Don’t Fall for Scams
Like any industry, some people want to exploit those with little experience. So, as a beginner, you should always keep your eyes open for scams.
For example, there might be a site or person claiming to have inside tips or providing tips that will help you win every bet. This is most likely a scam since if this were the case, why aren’t they using their tips to become rich off betting?
Ultimately, you should only trust your research above all else unless you can verify the tipster and ensure they have a wealth of experience with betting.