Horse racing betting is not the first type of gambling that has been associated with investing. There are many professional horse bettors that consider themselves to be investors. There is even a belief among some handicappers that every bet on a horse is an investment in the animal and its human handlers.
We have assembled a few of the best investing tips from horse racing bettors. Some of these have been embraced by the sharpest minds on Wall Street. You can use them to make you a more profitable horse bettor, but you can also use them to improve your portfolio.
Investing is All About Risk Vs. Reward
It doesn’t matter what type of investing that you do. Betting on horses or speculating on stocks both require you to consider risk versus reward. Successful bettors and successful investors stick by a standard rule. They are willing to make greater risks when the potential is there for a great reward. They do not make large risks on propositions where the reward is limited.
When you bet on a horse at 10-1, you are justified in taking a bigger position because the potential reward is greater. Consider this. A $10 bet on such a horse will return $100 in profit if that horse wins. How much money would you have to bet on a horse at 2-1 odds to receive $100? The answer is $50.
In that example you are forking out a $50 investment for the chance to double your money. In the first example you are risking much less to win much more. That is how you make a profit at horse racing. Are you going to lose some of those long shot bets? Of course you are. But you only need to win one of every ten bets when you bet at odds of 10-1 to break even. Win just two of ten and you are in profit.
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Now, before you fire off an email to us in frustration let’s be clear. Our examples do not take into account things like takeout and breakage. We’re trying to keep the message simple. Invest a little to make a lot.
Sometimes the Best Investments are the Ones You Don’t Make
Here is another of the most valuable investing tips from horse racing bettors. You don’t always have to make a successful trade to profit. Sometimes the wisest choice that you can make is to pass on an investment.
Horse racing bettors will tell you that not losing is as good as winning. By not losing we mean not making a bet. There is no rule that says you have to make a wager every time you open up your online racebook. There is also no rule that says you have to buy shares of that new company or scoop up a digital currency.
Are you going to miss some winners by sitting on the sidelines? You sure are. Warren Buffet is regarded by many as the best investor of modern times. He was notoriously famous for avoiding tech stocks for many years as he built the market’s most powerful portfolio. Today, he has adjusted his stance and owns sizable blocks of Apple stock and other tech investments. He has publicly claimed that missing out on the dotcom boom is one of his big regrets, but also says that he would do the same again.
Don’t Invest With Emotion
Any type of gambling is bound to stir up the emotions. The same is true for many stock investors. To be successful at horse betting and investing you have to put emotion on a shelf and encourage more analytical perspectives.
In horse racing betting you may have a friend that owns a few race horses. When they compete you may be tempted to bet on them out of loyalty to your friend. As an investor you may want to purchase stocks of brands that you are a personal fan of. Just because you like to drink a certain brand of soda doesn’t mean that the company is a sound investment.
Use the Best Investment Tools
In horse racing knowledge is everything. The more you know, the larger your advantage will be over other bettors. The same is true in investing. You should be taking advantage of every tool that is offered.
In horse racing betting an online racebook is apt to provide you with all the tools that you need for success. You can get free past performances, free race replays, and more when you sign up for an account. There are trading platforms that will do the same thing for you. They will provide free charts and graphs and reports to help you invest.
This information should be helpful to you if you plan on making investments of any kind. That includes the investments that you would make at one of our recommended online racebooks. We suggest that you look at Amwager if you are thinking about online horse betting. There are many advantages of using this online racebook.