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Horse Racing Betting Tips: How to Win

Are you passionate about horse racing? Do you enjoy betting on sports, but have no idea how to make the right calls? Do you make a habit of betting on horse races? Maybe you enjoy betting on all those horses with the funny names, with friends and family. If you want to have fun and win your bets, you need to the right tools. This article should help you with that.

The Effort

Winning horse racing bets is not easy. The first step you need to take is realizing that you need to put more effort into it than you might have thought. It requires math and keeping track of many numbers. If you were some sort of accountant, you would probably be good at this. Do you have a friend who is amazingly skilled at math? Ask them for help!

Managing Your Finances

The main thing you need to consider when betting is your personal monetary situation. Your money management plan should be sound and well structured. How do you achieve that? By employing a strategy called Optimal Betting. It is a mathematical principle named Kelly Criterion. You bet a specified amount of your bankroll based on your ‘edge’over the games. It is expressed in the following mathematical equation: Edge = S – R/£odds. S represents the percentage of horses that win the race (your winning percentage), L stands for the percentage of the horses that lose the race, and the £odds is the average win payout rooted on £1. This is found through the taking of your average win mutual, subtracting £2, and then dividing by 2.

Another step you can take is keeping a bankroll solely for horse race wagering. Choose a bankroll size and go with it.

Setting a Value and a Price

The best way to win is to place the right bets by basing them on value and price. These are the reward for taking a chance. The bigger the chance, the higher your price would be. However, value is much more complicated. It deals with complex mathematical ideas that you can look into if you are intrigued.

A Game Plan

Having a handicapping plan is truly a must for winning horse racing bets. It is actually required for all kinds of gambling. You need to understand what kind of player you are and make decisions based on that. Knowing exactly what type of game you are helps you with determining what you need to focus on to win your bets.

Conclusion

In general, betting should be fun, but if you want to be more serious about it, you need to know what to do. Recognizing the effort you will need to put into it, having a game plan, setting a value and price and managing your finances should be your first steps to winning more bets placed on horse races.

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