Betting on horse racing is an entertaining way to gamble. It can also be profitable for those who perfect the art of handicapping and learn how to pick winners. Some smart horse bettors have even figured out how to get free bets in horse racing. That’s right. There are ways that you can use other people’s money to bet. Here are some tips and tricks.
A Word About Horse Racing Free Bets
Before we take a look at one of our favorite methods for getting free bets at the race track let’s explain the benefits of betting horses for free. Most of these should be obvious, but others might be new to you. The first advantage is that you don’t have to put your own money at risk.
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Horse racing is a risky form of gambling at the best of times. There are so many things that can happen during the running of a race that striking gold can be difficult. Even the best handicappers in the world only win about one out of every three wagers that they make. They know how to make a profit because they make the best of their resources.
If you are able to mitigate the risk of betting horses with a free bet or two, you are a leg up on the game. If you can turn that free money into a sustainable bankroll then all the better. Ask any gambler and they will tell you that the big profits come when they are able to play with the house’s money. There is something about risking someone else’s capital that makes you bet more freely.
Another benefit of free bets in horse racing is that these bets can be used by the beginner who is just learning how to handicap horses for fun and profit. Horse racing is a game with a very steep learning curve. It can take lots of practice before you finally feel comfortable making bets. It can take even longer to know that you have the confidence to win on a regular basis.
Okay. Let’s move on to what EZ Horse Betting believes is the best way to get free bets in horse racing.
Online Racebook Bonuses and Promotions
It is no secret that EZ Horse Betting believes that you should be betting with an online racebook. Just look at our website and you will see advertisements for many online racebooks. For full disclosure, we benefit when you sign up with a racebook that we recommend and play horses. But even if we did not benefit we would still recommend that you bet this way.
Why? Because online racebooks like to compete for players. The way that they compete is to offer bonuses and promotions. These perks can come in many different forms, but almost all of them involve paying you bonus money that can be used to make free bets at the racetrack.
A deposit bonus is one of the most common types of bonus that you will encounter when you sign up with BetAmerica, Bovada, or other racebooks. This means that the racebook will credit your account with an amount of bonus money that is equal to or greater than what you have placed in your account. Let’s say that you deposit $100. The online racebook may give you an additional $100 in free horse betting money.
Other racebooks offer promotions that award free bets. You may qualify for one of these promotions when you bet a certain amount within a month. You may also be offered free entries into handicapping tournaments and other contests. This is also a form of free bet, and many of these contests can have hug payouts for the player. You should check with your online racebook to see what kind of bonuses and promotions they offer before you sign up.
Conditions of Free Bets in Horse Racing
Now that you have signed up with an online racebook and have claimed your free bonus money it is time to start making bets. Before you do this you should understand how free money works at an online racebook.
When the racebook gives you a deposit bonus or other free money there are some strings attached. It is common for racebooks to stipulate that you cannot withdraw the free money from the account until you have wagered it a certain number of times. This is what is known as a play through and it is standard in the industry.
Let’s say that you have been given $50 in bonus money and are required to play through the bonus five times before it can be cashed out. This means that you will have to wager that $50 five times for a total of $250 in wagers before withdrawing. Some of you are probably reading that and saying that this is impossible. On the contrary, it can be done. You just have to be smart about the wagers that you make.
The good news is that online racebooks usually have a much lower playthrough requirement than online casinos. We have seen online casinos that make you play through a bonus sum of money 50 times! That seems a little bit excessive. Of course, the online casino does not want you to cash out the money. Putting money in your pocket is never a part of the plan when it comes to online casinos.
Now, how should you go about using those free bets in horse racing? Let’s take a look.
Use Free Horse Racing Bets to Play the Big Races
There are horse racing events held each year which draw very large crowds. These are events like the Kentucky Derby, Breeders’ Cup, and Dubai World Cup. Larger crowds mean that more people are betting on the races, and more people betting means that there is more money in the pools for winners to share.
We would recommend that you set aside some of your free betting money to wager on these events. The odds on horses in these events can be much higher, and that means that you will be able to get a bigger payout if you win.
The big events in horse racing also have Pick 6 pools that can be huge. You can use a free bet to take a chance at winning six figures when you hop in the Pick Six pool. Read more on that in our post “What Is Jackpot In Horse Racing?”. There are also Pick 3s and Pick 4s that can pay out a nice sum of money.
Use Free Horse Bets for High Percentage Wagers
Now that you know how to get free bets in horse racing you need to know how to take advantage of high percentage wagers. By high percentage we mean bets that are easier to win. In horse racing it can be difficult to identify these types of bets, but some offer better odds than others.
Did you know that there is one bet in horse racing that returns a flat bet profit year after year? That bet is wagering on an odds-on horse to place. This means that you are betting the horse will finish second or better. Odds-on means that the horse is being offered at odds of less than 1-1. Normally, a bet on an odds-on favorite would be a horrible decision. You will lose more than you will win by betting these horse to win or to show, but for some reason betting these horse to place works out.
Another high percentage wager is when you identify a horse that completely outclasses any other horse in a race. This does not happen often but it does happen. Think about Secretariat in the Belmont Stakes. The downside here is that the wager on such a horse usually produces a very small return. You’ll be risking a lot to win a little, but the odds of success are higher.
Swinging for the Fences with a Free Horse Racing Bet
There is one other option when it comes to using free horse race bets. You can take a chance and swing for the fences with a bet on a big longshot. The odds that you will win the bet are lower, of course, but if you do win the payout can be huge.
A $2 bet might return you $40 or more. It could even pay you back $100 if you choose the right horse. We’re not going to tell you not to do this if you think your handicapping skills are up to par. What we will tell you is not to do it just because you can. That would be a waste of your free betting money.
Too many people approach free bets in horse racing as money that they can just throw away. That doesn’t make any sense. Just because it is free money doesn’t mean that you should treat it any differently than the money that comes out of your own pocket. Don’t forget to check out the free horse racing game we added for pure entertainment. 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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