Essential Tips for Beginner Horse Racing Betting Enthusiasts

horse racing betting sites australia

There is hardly an Australian out there who does not have some kind of knowledge about horse racing, given that the Melbourne Cup all but brings the country to a stand still. But knowing about horse racing, and being able to bet effectively and smartly at betting sites, are two different things. Let’s have a look at a few essential tips that will help beginners make smarter bets on horse races.

Understanding Odds

The basis of all sports bets are odds, which play a very important roll in the act of placing down, and winning, a bet. If you look at the listings of horses that are set to participate in a race, the odds for each horse will be clearly displayed. Odds appear as something like 1/10, and provide very important information about the horse, the chances of that horse winning, and what a successful bet will pay if placed on that horse. Hence, it is essential to understand odds, if wanting to place smarter bets.

High Odds

The odds 1/10 are high, which means that the bookmaker has decided the horse is less likely to win. But, this does not mean that betting on this horse is a terrible idea. 1/10 also means that if a bet of just $10 is put down on the horse, $100 will be paid if the bet succeeds. That’s a great winning, especially when you consider what a bet of $100 will pay out. So, betting on the underdog horse is always by far the most lucrative decision.

Tips for Beginner Horse Racing Bettors

Low Odds

A horse with odds of 1/2 is a favourite, and is likely to perform well in the race. A bet on this horse is much safer, but the payouts are a great deal less impressive. A bet of $10 will payout just $20. Since the risk is less, the payouts are also much less. This is the core of horse race betting; risk versus reward. A smart bettor will look for a horse that has a reasonable chance of winning, but also pays out a good amount of money.

Group Bets

But down one bet on a single horse to win is fun, but is also what can be called a long shot. Group betting options allow money to put down on more than one horse, in a number of different combinations, greatly improving the chances of winning back at least some money. The horses bet on also don’t necessarily have to come first.

The Swinger bet at, for example, allows the bet maker to select two horses, with payouts being made if the horse place anywhere in the top three. Neither horse has to actually come first for the bet to be a success. So, for example, the two horses may come second and third, and the bettor still wins. Look into some of the other group betting options offered by bookmakers, they are they key to being a horse racing bettor that has cash in their pockets and a smile on their face.