Finding Good Horse Race Bets

Like many people, you may be trying to find good horse race bets to supplement your income

. The hard economic times have led to some people trying to make money from betting on the races. While it is true that some people make money wagering on races, let me assure you, it is very difficult and not recommended if you already have financial problems.

On the other hand, if you are serious about supplementing your income as a horse player, here are some tips to help you. First of all, you must realize that picking winners isn't enough. You have to go a few steps beyond just being a good handicapper. The truth of the matter is, when it comes to any kind of gambling, the bet is the key. By that I mean, how your wager is structured and what it offers is more important than the individual runner.

At any race track on any given day, many win tickets are cashed, but the sad truth is that most people go home a loser. That tells you something about picking winners and betting. The most important thing you can do is to learn how to spot an advantageous situation for yourself. That, in the simplest terms, is a wager that has a higher expected payback than the amount you invest to hit it.

An example is a bet that wins 50% of the time and pays back more than even money. Simple mathematics tells us the wager will show a profit over the long run. Of course, what you have to understand is that there is no guarantee that it will win every other time, so you have to be prepared for losing streaks, a natural part of life.

Your job as a horse player is to identify situations that payback more than the investment. That takes patience and practice. Keeping good records and learning to identify those spots is how real horse players make a living. It is not easy by any stretch of the imagination and just when you have identified a good bet, the whole deal can change. You have to watch for trends and biases and be prepared to stop and re-figure your wagering strategy. If that sounds tricky, you're right, it is.

A few good tips for developing a wagering strategy are, first and foremost, keep records of what wins and what it pays. Secondly, start at the beginning of the season and don't' start betting until the horses are in mid season form. Third, watch the track closely for changes in condition or bias. This can drastically effect things like early speed, closers, rail runners, etc.

Finding Good Horse Race Bets

By: Bill Peterson

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