Do you want to take your horse betting to the next level? Are you ready to win money like the professional handicappers who dominate the race tracks and online racebooks? To win big you have to learn how to bet on horses like a pro. You need to learn to think, act, and bet like the professional horse bettor. Here are some pointers to get you in the right mindset.
Never Get Emotional About Betting
The first rule of successful horse betting is to never let your emotions get the best of you. To the professional horseplayer betting is simply a methodical process. There are no feelings involved in it. Sure, you can be happy when you win a bet and sad when you lose. That should be as far as it goes.
Have you ever heard the phrase “on tilt” in regards to things like poker, blackjack, and horse race betting? This phrase is used to indicate someone that has lost their perspective and discipline after a bad run at gambling. The player that is on tilt has become a victim of their emotions. They are making poor decisions about bets and the losses start to pile up.
One of the best horse racing tilt stories involves the creator of the Beyer Speed Figures, Andrew Beyer. Back when he was developing his speed figures Andrew Beyer traveled all around the country and the world betting horse races. Beyer was a man who did not like to lose bets. On year he found himself in the middle of an extended losing streak at Gulfstream Park in Florida. Things just weren’t going his way.
Beyer knew that his handicapping was sound. He was doing all the right things when it came to picking his winning selections. Racing luck and something called variance was preventing Beyer from cashing bets that he should have won. This reached a peak one day at Gulfstream when the horse Beyer correctly picked to win the race was disqualified after the finish.
Sitting in the Gulfstream press box, Beyer could no longer control his emotions. He balled up a fist and punched a hole in the press box wall. The event became the stuff of legend. Gulfstream even went so far as to leave the hole in the wall and put a frame around it with a marker that read Beyer’s Hole. We are sure that Andrew can laugh about it now, but it wasn’t funny at all back then.
Learning how to bet on horses like a pro means controlling your emotions in the midst of a losing streak. If you bet enough horses, the losing streaks are sure to come. What you must do is rise above the defeats and retain your perspective. Do not alter the way that you choose your horses if you know your methods are sound. Soon the variance will go away and you will be back to winning big.
Never Play With Scared Money
The professional handicappers know that having a bankroll that is dedicated to horse racing betting is a must. They never use money that is set aside for living expenses to make their bets. This is called playing with scared money.
When you use money to bet that you know should be used elsewhere, you are going to worry about losing it. When you are worried about losing your money you cannot win. The fear of going broke will cause you to make poor decisions. You will abandon your good handicapping principles and begin betting on hunches that do not pan out.
You should ideally have a bankroll that is at least 50X the minimum bet that you will be making. Ask any professional handicapper, though, and they will tell you that this is just a starting point. Most of them are reluctant to wager more than 20% of their whole bankroll on a single race card. They have learned that having a bankroll and using it wisely are important.
Capital Reserves Are A Must
Have you ever seen the movie Wall Street with Michael Douglas in the iconic role of investor Gordon Gekko? Here is a quote from the film:
“The key to this game is your capital reserves. If you don’t have enough you can’t piss in the tall weeds with the big dogs.”
What Gekko was saying here applies to horse racing as well as investing. Actually, learning how to bet on horses like a pro means adopting an investor’s mentality. You need to have a bankroll reserve that will let you take advantage of those one of a kind opportunities. For example, let’s say there is a big six-figure carryover in the Pick Six at your favorite track.
Some friends call you up and invite you to become part of their syndicate. A syndicate is a group of individuals who pool their resources to buy more tickets in the Pick Six. More tickets means that they can cover more winning combinations, and more winning combinations means a greater chance to take down the carryover pool.
The friends tell you that they are all investing $1,000 in the Pick Six. You are welcome to play if you can put up your $1,000. This is where things get very simple. If you have the money in your reserves you can play. If you don’t you are out. Things will only get worse when your friends call to tell you that they hold a winning ticket for the Pick Six.
Don’t Bet Too Often
Did you know that some of the best handicappers in the world bet less frequently than some other people? It’s true. They have learned that betting less often and winning more is better than trying to bet every race on a racing card. One of the biggest mistakes made by those who want to learn to bet on horses is to play every race, every day.
When you sign up for an account with an online racebook you can pick and choose your betting events from race tracks all over America. You can even bet on racing events overseas. There is never a shortage of races to bet on, so you should be waiting for the best opportunities to come around.
When you bet too often this is known as action betting. It will not make you rich. It will drain your bank account. An action bettor is a gambler, plain and simple. What you are striving to be is a professional horse bettor that has discipline and skill.
Think About Betting Horses Online
We’re going to end with one final suggestion that is important. EZ Horse Betting believes that some of the best opportunities for learning how to bet on horses can be had when you create an account with an online racebook.
You will have access to all the major tracks in the world. The racebook will also give you free past performances to study. Race replays are available, and you could also receive a very large deposit bonus when you sign up.
When you consider all the educational resources and even free bonus cash that you can get from an online racebook, you should think about choosing one that we recommend. See 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!
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