Those who win the most money are those who become good at betting on horses like a professional gambler. You don’t have to be a full-time gambler to have the right mindset for betting. You can just use the same methods these handicappers use to increase your profits at an online racebook. Here is a closer look at what the professional gambler does when betting on horse racing.
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Reduce Your Horse Betting Expenses
One of the best things that you can do if you want to be a success when betting on horses is to reduce your horse betting expenses. A lot of people do not realize that there are costs to horse betting beyond the cost of making a bet. You will need to pay for past performances and other handicapping tools, and there is also admission to the live race track if you choose to bet that way. All of these expenses will add up and cut into your profit.
Betting on horses like a professional gambler means that you need to reduce or eliminate every expense that you can. Today it is more common for the professional horse player to bet horses online. It costs much less to do it this way because the online racebook will often give you the handicapping tools for free. You also can bet from home so there is no travel expense.
We get emails all the time at EZ Horse Betting from the professional gamblers who are betting online and having much success. Do what they do and choose one of the online racebooks that we have reviewed and recommended.
Keep Your Horse Racing Wins to Yourself
The professional horse bettor is also very private when it comes to making bets on horses. You will soon find out that bragging about your big horse racing wins doesn’t help you at all. There are several reasons you should not talk about winning bets.
The biggest reason is that letting people know that you are a big horse racing bettor can get you into trouble with the IRS if you live in the states. Word can get around that you are making a large profit. That could potentially make the IRS come calling. Granted, this is unlikely to happen but it’s a chance that you do not have to take.
Another reason that professional horse racing gamblers do not talk about the wins they achieve on the race track is to prevent other bettors, family, or friends hitting them up for money. What you will notice about this is that some people have no problem coming around when you are doing well and rolling in the cash. Then when you are on a losing streak everyone seems to disappear.
Being private about your horse racing betting is just wise and good sense. It is your business and no one needs to know about it. On that subject of privacy we arrive at another way of betting on horses like a professional gambler – using cryptocurrency.
Bet Horses with Bitcoin
If you aren’t familiar with cryptocurrency then you have probably been living under a rock for the past few years. Bitcoin is a decentralized digital currency that is being used for many things, and horse racing betting is one of those things. It is now being accepted by many online racebooks for making horse racing wagers.
Why use Bitcoin for horse betting? For starters you can bet with Bitcoin and not have to reveal sensitive personal information like your credit card details. At some racebooks you can even benefit from a certain amount of anonymity when you use cryptocurrency. It is much easier for some bettors to keep their wagering on the down low.
Just be aware that if you choose to bet horses with Bitcoin you need to familiarize yourself with cryptocurrency and how using it works. You’ll need to take some specific steps like setting up a crypto wallet before you can bet in this fashion.
Limit Your Horse Betting to One Racing Circuit
Another thing that you must do is limit your horse racing betting to one or two racing circuits. The professional horse racing bettor does not spread their bets around to multiple racing circuits. Instead they work at learning more about the horses, jockeys, and trainers that compete in one single area.
There are many horse racing circuits that you can choose from. In the United States you can wager on horse racing in New York, California, or many other jurisdictions. You can also choose to wager on horse racing in the UK. But what we recommend at EZ Horse Betting is that you consider making bets on horse racing in Hong Kong.
Why Hong Kong horse racing? Because there are large betting pools and many bettors. You will have a better chance to make a horse racing profit when there is more money in the pool. You will also find that the betting menu in Hong Kong offers you the same bets that you would find in the US.
Of course, you have probably already figured out that to bet horse racing in Hong Kong you need to have an account with an online racebook. Most of the online racebooks that we recommend are safe. Check our Bovada racebook review, Twinspires review or even our Betamerica review. All great choice if you are in the US. 5Dimes review for folks anywhere!
We hope that these tips are ones that will help you begin betting on horses like a professional gambler. If you have success be sure to send us an email or leave us a comment below. We always like to hear from our loyal readers.
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