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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