25 Lessons to Help Improve Your Horse Racing Betting.

Betting Lessons

At the beginning of the year we asked OLBG members for their Number 1 Horse Racing Lesson. 

Below are some of their edited thoughts in no particular order. 

We really hope horse racing tipsters find the following strategies and tips very useful. 

You may wish after reading the lessons to visit the OLBG betting school which features more helpful advice on horse racing betting.

1. There is no such thing as a certainty

Regardless of what you may read and may think, horses are not machines and can easily have an off day, a horses form might look rock solid but you should always be wary before putting on more than you can afford.

Micko70

2. Don't Rush into a Bet

There are several examples of this and they're all appropriate. 

A) You see a horse's odds start to tumble and, usually driven by a sense of not wanting to miss out, the punter quickly jumps onto it - without taking time to evaluate.

 B) After a few losses you fear a 'losing day' so quickly get onto what now appears to be the next 'good thing' - even though you may have discounted the horse earlier when picking your horses for the day! 

C) You hear or see someone talking up a horse's chance and get on, without either checking the horse out, or the person giving the 'advice' D) With races going off within sometimes seconds of each other, punters are being pressured into making bets with little time to study. Take the time, it'll benefit you in the long run.

Jim Brown

3. Keep a proper record of your bets

You will learn from your errors and from your successes. Use spreadsheets to analyze your betting and keep accurate profit and loss figures.
Geordie

4. Only bet on horses you think will win by two lengths or more

Surely when anyone thinks they are going to invest their hard earned money on the outcome of a horse race, they do so thinking that their horse is going to win well. If we only think that it might be 'thereabouts', then in my view we're asking for trouble,- financial trouble. 

Shrews

5. Only back selections which at the best odds on offer provide quantifiable value

When you have identified a selection which does offer value, then ensure that your stake is commensurate with the margin of value based on the current best odds.

Robmull

6. Focus on a specific race type, and become an expert in that race type

A good example would be all-weather handicaps between 1 mile and 1 mile 2f. There are plenty of this race type throughout the year to maintain your interest but not too many to become overloaded. 

Watch every race live or reply, get to know the profile of horses that are winning these races, understand the stats, the form. 

Which trainers excel, which jockeys, what type of horse, gender, age, and breeding? Review all of the results for the race type, what horse won, what was its handicap mark relative to its previous marks. 

The Professional

7. Let your betting habits evolve

I like to concentrate on race types and traditionally have been more interested in longer distance races, viewing sprints as a bit more of a lottery. 

However, in recent seasons most of my profit has come from betting on sprints and I've generally found sprinters to be much more consistent than their stamina laden counterparts.

monkeytennis

8. The notebook

Making notes is crucial to long term success. We've all used the term "one for the notebook" when we've seen something we like, possibly as a future winner, and likely to be profitable to follow. 

The truth is, however, that very few of us ever write it down. 

If you wish to take betting seriously, either on racing or on any other sports, then watching closely, and regularly, and recording information is key to your success.

Tomdouglas

9. Price up a race without any outside influence

You should price up a race (before the bookmakers have done so) if you plan to have a bet in it. 

It is only then when you can determine if a selection is value against your own opinion. 

You will often hear or read on the forum pages that horse xxx is overpriced or horse yyy is too short in the betting, when in all likelihood that person has probably not attempted to form a market based on his or her own views.

The Executioner

10. Be careful backing on a Saturday

This is the busiest day of the racing week and the most competitive.

Horage

11. Ignore hard races

If you come across a race that looks a competitive affair and you cannot find a standout bet then do not force yourself into making a selection, simply leave the race alone!
Zipster

12. Think ahead

Investigate the card 5 days ahead of the race when the declarations are published.

If there are early prices available, so much the better.
Leicester Bigot

13. Never let the odds of a horse put you off

If you have done your homework and you fancy the horse's chances and the price is bigger than you thought that is a bonus.
lee cufc

14. Unusual Circumstances

Look for horses trying something a little unusual. 

By this I mean a dramatic step-up/down in trip, a switch from fences to hurdles, there is usually a reason for it, and you may have uncovered the beginning of a plot.

Systemight

15. Manage Your Funds

Have a betting bank that you just use for your betting, and protect the funds in your betting bank at all times.
turflinetrading

16. Discipline

Be totally disciplined in our approach to profit-making through betting. 

You are not forced to bet in any race, if in doubt then leave it out. 

Don't be attracted into having the famous fun bets, losing money shouldn't be fun!
curlycov

17.Course and Distance

Never back a horse that has not RACED on the going and similar distance of the race.
springeee

18. Best Odds Guaranteed

Get best odds guaranteed for your selections by having accounts with many bookies, look at getting on early when the price may be more generous. 

Booster33

19. Be Race Selective

Try and recognize which races are the ones set up for the bookmakers to make their profits on. 

Narrow down races that are more punter friendly as opposed to bookmaker friendly and then we have a better chance of reaping the rewards.
Richlehawk

20.Trust your own instincts

Have a good memory and only believe what your own eyes tell you, watching a race unfold is the best way to gauge a horse's chance next time.

Analyze a bet before and more importantly after the event and this will help you find a horse's characteristics like did he/she stay.

Randy Rann

21.Staking Plan

Work out a staking plan that works for you. 

Not enough is written about or discussed around staking plans, but for me it is critical and so many people get this terribly wrong.
The Shark

22. Consider place only betting

It amazes me that the obsession is to back winners.

I don't have the ability to pick a winner as they all seem to be placed or nowhere. 

I changed my tack and converted losses to profit. 

When betting for a place you can have up to four chances of a return.
boyally

23. Keep an eye out for horses running for new yards

When a horse is moved to a new yard it's like humans starting a new job and want to impress employers. 

Trainers want to show they can improve an animal to connections and repay the faith the owners have shown when choosing them as a trainer. 

Foranap17

24.Chasing

Never chase your losses as your judgement goes
Sean Rollings

25. It should be fun

Enjoy your betting, be its master, and don't let it master you. 

When you enjoy something you tend to do it better and are keener to undertake the research needed.
Nors

Betting Lessons Round Up

All the above members are regular contributors to the site and you can check their daily tips in the tipping competitions. 

You should always check out the Best Bookmakers for Horse Racing so you can take the best odds on any horse.