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It can be mind-blowing to watch experienced jockeys and their powerful horses race around the course with such intensity and vigor. And the sport creates more excitement when money is on the line.

Horse race betting is one of the most popular and oldest forms of gambling in the world. Although many people would like to place their bets on a horse, it can be very tricky and confusing for first-timers.

There are many skills and strategies to apply when betting that can help work your way towards success. For a little help, here are a few basic tips on making a bet and winning big on a horse racing event.

Research, Research, Research

If you know what you're doing, then horse race betting will be plain sailing. Before you make a bet on a horse, you must learn everything about the race you will be betting on. You need to familiarize yourself with the location, race time, number of horses on the field, and the distance they'll be running.

To score a win on any of the races, you will need to equip yourself with rudimentary knowledge.

Generally, you will see all these details on the racing forms. Moreover, take note that there are a lot of horse racing events to choose from, including:

  • Kentucky Derby (Louisville, Kentucky)
  • The Preakness Stakes (Baltimore, Maryland)
  • Belmont Stakes (Belmont Park Elmont, New York)
  • Prix de l'Arc de Triomphe (Paris, France)
  • The Royal Ascot (Ascot, England)
  • Dubai World Cup (Dubai, United Arab Emirates)
  • The Grand National (Aintree, England)
  • Melbourne Cup (Melbourne, Australia)
  • Nakayama Grand Jump (Funabashi, Japan)

To score a win on any of the races, you will need to equip yourself with rudimentary knowledge. Also, it's a good idea to know which contenders are most likely to close out in the top three. However, keep in mind that each horse racing event is unique. Hence, you may have little to no control over what will happen.

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Moreover, know the odds in the race to know if the horse you bet on is successful. If you don't know anything about horse racing odds, read tvg odds explained to learn more about it.

Know The Different Degrees of Competition

It's crucial to know the class levels of the horses when betting because it will help you determine which horses have performed better in the past races and have more experience in the field.

The following are the common class levels in most events.

  • Maiden Races. This horse racing class only allows horses that have never won a race. There are two types of maiden races; maiden special weight and maiden claiming races.Horses running in maiden special weight are typically superior to horses in maiden claiming races.
  • Claiming Races. This race allows horses that are for sale. Claiming races are more competitive because it matches horses based on their sales price.
  • Allowance Races. Horses in allowance races are usually given a specified amount of weight if the horse has not won any race.
  • Stakes Races. This horse racing class gathers the best horses to compete in stakes. Stakes races usually require an entry fee for a horse to enter the race.

Budgeting

Remember that it takes money to win money. With that said, it's crucial to double-check your financial status before betting. Although it might be hard to resist the temptation to bet all of your money and take risks in one go, be sure to budget your money. Know how much money you can spend without risking your expenses.

Check The Jockey's Track Record

Aside from knowing each horse's past performances, you need to know everything about the jockeys as well. Many bettors, even experienced ones, underestimate the importance of the person steering the horse around the track.

Instead, they put all of their attention on assessing the horse. When weighing things, it's important to consider the track experience of the jockey. You can always ask around for some advice or check the jockey's background online. By doing so, deciding which horse you should place a bet on will be much easier.

The Owner And Trainer Matters

On top of the jockey, the owner and trainer matter as well. While they might not be present on the racecourse, they are mainly in charge of how much money to invest in their horse. And remember that the horse's quality depends on whether it receives tremendous training and care. That's why it's essential to acknowledge the people working behind the scenes to understand better what to expect in the race.

Final Thoughts

Nathalie Nicole Smith states that working hard and staying true to yourself are sure ways to win in life.

The best horse betting strategy you can do is find a solid win bet before doing anything else. For example, if you are unsure which horse will dominate the race, then you perhaps should not dive into bets requiring you to choose horses in 2nd, 3rd, or 4th place. But if you can figure out a solid play for the win, you can slowly start to expand or broaden your wagers. Go all in only when you feel like you have the ace up your sleeve and not because of the action.