When you’re new to anything, there’s always a bit of a learning curve. If you’re just starting in the world of horse betting, it’s important to be aware of some of the most common mistakes that beginner bettors make. By being aware of these errors, you can avoid them and improve your chances of winning. If you’re a beginner, it is very important to have a betting strategy in place before investing any money.
In this blog post, we’ll take a look at six common mistakes that beginner horse bettors make, and we’ll provide some tips for how to avoid them. Read on to learn more!
Not Researching the Horse
One of the biggest mistakes that horse bettors often make, especially those new to the sport, is not researching the horse that you are going to be betting on. Why does this happen? Many people new to horse betting will just always choose the favorite, thinking that the favorite is bound to win more often.
Even if this is true, researching the horse will give you access to information to make a better bet. For example, you should research the performance of the horse in the last few races, with which jockey the horse wins more often, and which track the horse performs best at.
Not Researching the Going
The next mistake that is very common amongst those new to horse betting is not researching the going, or the track. The going describes the conditions of the track that the horse will be running on. This is very important information, since not every horse will perform the same on different surfaces.
This means that you should find out which surface your horse prefers, or in other words, performs best on. For example, a horse might be a favorite in a race, but you might find out that the horse doesn’t do well on this track, whereas another horse in the race does, and the difference in performance on equal goings is almost the same.
Not Understanding Fitness and Form
The next mistake that horse bettors make, especially new ones, is not entirely understanding fitness or form. These two aspects are crucial to understanding when betting on horses since it isn’t always straightforward.
When it comes to other sports, such as football, knowing which players on which team makes a big difference in terms of the bets that you make. However, with horse racing, there are other factors to consider. One of them being the going, the other being the actual track, and another is the competition of the horse.
Not Researching When the Horse Had a Break
Another incredibly important aspect when it comes to horse betting is knowing when the horse has had a break, and many new horse bettors don’t research this information. Why is this important? Because research shows that if a horse has had a rather long break, it is going to take some time for the horse to get back to its original form.
What does this mean for you? This means that you have to try to find out how long the break the horse took was, what the reason for the break was, how old the horse is, and more.
Not Playing the Long Game
A very common mistake made by new horse bettors is not playing the long game. When it comes to gambling, for example, casino gambling, you could get lucky and win thousands upon thousands of dollars with one game. Unfortunately, with horse betting, this isn’t the case.
Horse Betting is a long-term game; you won’t see a big increase in profits immediately when winning races since the profit is accumulated over a longer period. This means that you should be patient when betting and don’t expect to win millions or to earn millions, with your first 5 races.
Chasing Losses and Not Quitting When Ahead
Finally, this mistake happens every day and isn’t exclusive to people who bet on horses, and that is chasing losses and not knowing when to quit. Chasing losses means to begin betting even more to make up for money lost whilst betting; needless to say, this strategy doesn’t work.
Even more dangerous than this is not knowing when to quit. Let’s say that you have won a tidy sum of money over the last few races, and now you think that you are unbeatable. Instead of calling it a day and banking that cash, you continue to bet until you lose, and that’s what not knowing when to quit means.