Gambling related articles
Getting
the most from your betting
From John Greenwood
July 2020
Horse racing is one of the most popular sports to bet on, and there's a
feast of top-class thoroughbred action taking place year-round in
Australia.
The Melbourne Cup in November is the pinnacle, billed as 'the race that
stops a nation', but there's plenty more besides that.
Betting on racing can enhance the enjoyment of the sport but, as with any
sports betting, it's much more enjoyable when you're winning. With that in
mind, we take a look at some important factors to consider before your
next sports bet.
Trust Your Instincts
On average, the favourite will win less than one-in-three horse races, so
backing the favourites blindly isn't going to be profitable over time.
Study the odds and try and use the form available to find the value in the
market. Once you've made a selection, review the odds on offer and decide
if you are getting the value desired at the price.
Experienced punters will attempt to form their own markets and determine
what odds they believe each horse should be. If the bookmakers' odds are
more generous than you predict on a horse you fancy, that's when to get
your money on.
The Right Price
It's important to get the best value available when betting. There are
key pointers to think about in achieving this. Look for horse racing
betting offers and tips - extra places, money-back specials etc. - as they
can be excellent. Also, when you are betting on races, it can be useful to
wait until the day of racing, when the price is often 'guaranteed' - this
means if you back a horse at 4/1 and the SP (starting price) is bigger,
you'll be paid at the bigger price.
Start of a Horse Race (CC BY 2.0) by Rennett Stowe
Detach the emotion from betting
Whether it's your favourite footy team or a horse that has won money for
you in the past, betting from the heart is a recipe for disaster in most
cases. Try to detach emotion from the betting side of sport. Many punters
will steer clear of betting on their favourite team completely. Equally,
just because you've won money on a horse in the past, it doesn't mean you
owe loyalty. Make the smart decision for today's bet based on the
information you have available.
Look for the offers
The betting industry is thriving, with the advent of social media
bookmakers have more opportunity than ever before to get their brand into
the public consciousness. There's a multitude of companies out there vying
for your custom. With that comes some great offers; sign-up bonuses,
loyalty offers, money-back special and more. Look around and see what's on
offer as there has never been a better time for punters in this regard.
Stay within your limits
Most important of all, know your limits and set the boundaries of what
you allow yourself for sports betting. Whether you are planning a day at
the races, off to see some AFL action or savouring the experience of the
A-League, betting can enhance the thrill when it's done with control.
Don't chase your losses and don't put betting before family and friends.
If you've set a limit for weekly/monthly punting, don't go beyond it and
when the winning bets come along, treat yourself or those close to you
with the extra cash as a reward.
The factors above are worth considering when betting on sports. It can be
a fun and rewarding way to enhance our experience of live sport or when
watching on television. The memories of great sports events can often
stand out that bit more if you can recall them knowing you had a winning
bet as well. By getting the most from betting and staying in control, we
can all enjoy a flutter and hopefully a profit too.
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