Betting Explanations

Horse Racing Betting Strategy Explained for Beginners

horse racing betting on betfair

Looking for a profitable horse racing betting strategy? Then you’re in the right place.

In today’s article, we are going to take a look at a number of ways to approach betting on horses.

Answering some of the most important questions that you have:

  • What is the best horse racing strategy for a beginner?
  • Horse racing betting vs trading, which is better?
  • Are there other proven ways to profit from horse racing?

The Best Horse Racing Betting Strategy For A Beginner:

As a beginner, one of the best strategies that you can use to consistently make money from horse racing is value betting. The reason for this is that it doesn’t involve spending hours reading horse racing form. You don’t need inside connections or to be using detailed pace maps.

It is a strategy that has been proven to work over a huge sample size of bets!

It works by finding weak points in the betting market and exploiting the fact that bookmakers can be slow to adjust their betting odds.

What is value betting?

Let’s take a look at an example of what we mean by “value betting.”

Looking at today’s racing card I have found a value betting opportunity at Pontefract in the 16.37 race.

The horse Beggarman is 13.00 to back with Bet365 and odds of 12.00 to lay on the Betfair Exchange. This is a good initial indicator that at the current time Beggarman is priced too high on Bet365.

Soft bookmakers such as Bet365 will limit winning players. This means that they don’t manage their betting odds as efficiently as a betting exchange.

Betting exchange prices are affected by the flow of money coming into the market. Making them a better representation of the true odds.

A quick look on Oddschecker also shows that Bet365 are a standout price. With the rest of the market pricing the horse Beggarman at odds around 10.00.

This is another good indicator that the current odds of 13.00 offer value.

There have been plenty of studies that show when you consistently back odds at higher than the Betfair lay price. A profit will be made in the long run.

Why Value Betting Works?

Value betting is proven to work. This is due to sharp money ending up making a large part of the betting exchange’s turnover (a place where they are not limited.)

By the time the race starts, those odds are going to be largely efficient (known as closing odds) and a good indicator of what the true odds should be. By consistently taking odds that are higher than the betting exchange lay odds, we put ourselves in a good position to beat those closing odds.

Horse Racing Value Betting Strategy Tips:

Alright, so we have established a horse racing betting strategy that is proven to work and is ideal for beginners.

How can we make most of this strategy?

Take advantage of bookmaker’s that also offer promotions such as best odds guaranteed.

The majority of the bigger bookmakers Bet365, Will Hill, Paddypower etc. Offer a promotion called best odds guaranteed. Best odds guaranteed means should the horse you back drift in odds before the start of the race. A bigger price we will be paid at the SP (starting price).

For example, if we backed Beggarman at 13.00 and by the time the race started he was priced at 15.00. If Beggarman won that race, Bet365 would pay out at odds of 15.00.

Although using this strategy we are already in an advantageous position (backing above the exchange lay price).  This promotion gives us some additional value should the horse we bet on drift.

Stick to value betting on popular races with larger amounts of money matched.

Bookmakers don’t like winners!

Unfortunately, anyone that uses a winning strategy will eventually be limited. This strategy is no different, however by sticking to bigger races, with larger interest and more money bet on the market. We can certainly extend the amount of time and profit we make from this strategy.

This means using this value betting strategy on the televised ITV and ITV4 cards. Where placing value bets is going to be less obvious in comparison to betting on a lower-level race at Wolverhampton on a rainy Tuesday night.

Bankroll Management:

Want to make money from any form of sports betting?

One of the key factors is going to be staking properly and having a set bankroll…

  1. Work out exactly how much you are staking on each bet. (£5 per bet, £10 per bet etc – level staking)
  2. Work out the total amount you are willing to invest in your betting strategy. (For example, putting aside £200 for your bankroll)
  3. Commit to your betting strategy and leave that money alone to grow over the long term. Decide whether you want to reinvest and increase your bet sizes or withdraw at a certain profit point.

“Most importantly approach your betting with a plan.”

Horse Racing Betting v’s Trading, Which is Better?)

Betting or sports trading, which is the better approach?

Well that entirely depends on yourself.

Are you suited to the set and forget nature of betting. Where you can place bets in the morning or on a lunch break, finish work and be happy to check them at the end of your shift.

It can be a lot easier to find time to place a few bets if you lead busy life in comparison to the time it takes to become a competent horse racing trader. Find out more by reading this recent article about Betfair trading for beginners.

Horse Racing Trading:

Perhaps the added control and dynamic aspect of horse racing trading appeal more to you.

Where you can be in and out of the markets in minutes. Secure profits before the race has even begun. React to new information which occurs seconds before the off.

“Horse racing trading certainly offers a lot more approaches. Good traders can make consistent profits on a daily basis. Whereas with any betting strategy you will have volatility and losing periods.”

However, in-play and pre-race trading can often be a very intense way of making money from the horse racing markets. Mistakes and technical issues can be costly and overall the fast-paced environment of trading is not for everyone.

Lifestyle and Disposition:

Ultimately which one is better comes down to you. If you are a student with a lot of time on your hands and can spend a couple of days a week learning to trade then sure go for it.

Busy dad working 50 hours a week and only find yourself with an hour a day to spare. Then value betting on horse racing could be the way to go.

Balance is very important in life, it’s important to find the approach which suits you the best.

Proven Ways To Profit From Horse Racing

Value betting is one proven horse racing betting strategy. There are also several other ways to make a profit.

Arbitrage betting is another strategy that is ideal for beginners, it is low risk and a good way to build up an initial bankroll.

Another great way for beginners to make money from the horse racing markets is matched betting. Matched betting involves taking advantage of bookmaker promotions and offers. To consistently lock in low-risk profits.

Lastly, another proven horse racing strategy that works is taking advantage of bookmaker’s extra place offers. Often at the weekends and on bigger races such as the Grand National. You will find bookmakers offering extra places, these terms can make these races a great opportunity.

Conclusion:

In this article, we have covered several ways to make money from horse racing as a beginner. The horse racing markets can be very profitable with the right approach.

Value betting is a winning approach, as is arbitrage betting, matched betting and using extra places to your advantage.

Picking any of these proven approaches will put you far ahead of 95% of the people that bet on horse racing.

Next Read: 5 Reasons Smart Bettors Use Exchanges NOT Sportsbooks

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