Punters tend to focus on their favorite sports and refrain from wagering on other competitions, because they don’t have the necessary expertise. This is an intelligent approach because research prevents punters from turning sports betting into gambling, yet it is worth exploring new markets every now and then. Those who plan on betting on horses should know that there are a couple of methods to choose from, each of them with certain benefits and few shortcomings.
An informative article about the most popular methods, which can easily pass for a practical beginners guide can be found at http://www.betpal.com/how-to-bet-on-horse-racing-the-basics/how-to-bet-on-horse-racing-betting-methods. All of these methods can be successfully implemented by punters regardless of bankroll, so it is only fair to say that mastering these techniques will be equally beneficial for highrollers and absolute rookies
The most straightforward way of betting on pretty much any market is taking advantage of fixed odds offered by the bookmaker for a particular event. Different bookies offer different odds and although the discrepancies are small, over the long run they compound. This makes it important to shop around and have an account open with different bookmakers, so that you will always benefit from the best odds.
The betting method itself is simple, as players are expected to choose the winner from a list of competing horses and click on the corresponding odds. Once the bet is placed, the odds will remain fixed just as their name suggests and if the player is correct in predicting a winner, he will cash in on the preset amount. It is generally accepted that this way of betting on horses is the easiest, therefore recommended for beginners.
Another method of betting on horses is Pool betting, which implies that all the money collected as a result of bets being placed are collected into one pool. The operator only tells punters how many people wagered on a particular horse and how much money they spun, before the race begins when all the games are closed. This means that if fewer people bet on a certain horse and he wins, they will share the money collected among themselves which will translate into higher amounts.
Naturally, the pool operator will not leave empty-handed and will collect a percentage of the money to cover its own costs. The idea behind pool betting is that players don’t know for sure how much they will end up winning, because it all depends on how many people bet on each horse. This method of betting on horses can be very entertaining but it is not as widespread as traditional fixed odds wagering. Even so, many online bookmakers allow pool betting and these wagers can also be placed at the racecourse.
Last but definitely not least there is the betting exchanges method, with bookmakers such as Betfair being frequently cited as an example. The difference resides in the fact that players can both bet on a horse to win and lay him, meaning that they wager on a certain horse not to prevail. Those who are even remotely familiar with binary options trading know that this presents punters with the unique opportunity of using hedging strategies.
The idea is to bet on a horse that is priced at even odds or above and then do the exact opposite and wager on him not to win, if the odds suddenly drop below 2.00. This doesn’t happen very often but it is not a rarity either, as bookmakers tend to adjust the odds based on how many people wagered on a certain event in general and the winner in particular.
Another advantage of resorting to betting exchanges instead of fixed odds or betting pools is that you can ask for the desired odds. Assuming you’re not satisfied with what the bookmaker offers, all you need to do is to ask for better odds and then wait for a fellow punter to accept those odds. The worst-case scenario is for nobody to respond positively to your offer, in which case the stakes are refunded.
One can only make an educated decision if he knows all the alternatives, which means that you are now empowered to make an informative choice when betting on horses.