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Horse Racing Betting
A. Aguilar - 29/01/10When odds for the favorites are very low, you should bet against the two top favorites. The first one wins 60% of the time, the second 20% and the rest of the field (brokers) another 20% in this type of race, where there is a clear favorite. Assume that the fees are 1.5 and 2.5 for the first and second respectively, and that you bet $50against them.
- $50 x 1.5 = $25 risk to earn $50 if the horse is not first.
- $50 x 2.5 = $75 risk to earn $50 if the horse is not first.
If the favorite wins (60% of cases) you get $50 for your bet against the second, minus the $25 for the risky bet against the favorite.
If the second favorite wins (20% of cases) you will earn $50 on your bet against the favorite, and you lose the $75 bet against the second, for a total loss of $25.
If any other horse wins (20% of occasions), you win every bet for a total profit of $100.
If you make a bet knowing something about the world of horses, however that small is, it is always be better than not knowing anything, and it's not just enough to know the favorite horses. There are other factors to consider. So it is highly advised to invest some time studying this sport and all the factors involved: statistics of the race, the top competitors, etc. That way you will have a wider view about all the events that are taking place before and during a race.
That means that you will eventually have a well established profit margin. Still, there are two possible problems: First, there aren't big favorites every day, with a second favorite with very low fees. Second, to ensure that you continue betting even if you reach a slump, you need to watch your budget. If you only have $100, it's obviously not a good idea to put $50 on each horse and you may have to limit yourself to a $10 maximum bet. If your bank told you that in just one day you would be paid 10% of your deposits, you would probably run with that. Intend gambling as an investment, not as a game, and each month you can get a useful bonus to your income.
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