Using race horse betting strategies effectively is one of the methods employed in the professional sports betting circles to produce consistent, regular and long-term profits. Forget wasting your money on the 20/1 long shot hoping for a large payout, this is exactly what the bookmakers want you to do. The key to success is in the continual growth produced by regular small wins and controlled losses. The following are 3 strategies often used by the professionals to accumulate profits:
1. Laying The Field.
With the creation of the betting exchanges allowing person to person betting (primarily Betfair) the ability to lay or back against a horse now became widely available to all. Not just the preserve of the bookmakers. One method of using this effectively is to lay the field in-running at odds under 2. If 2 or more horses are matched during the race, you will end up in profit whilst having risked less than the value of your stake. The key to this method is in the careful selection of the races that are likely to be the most keenly contested over the latter stages.
2. Place Betting Only.
Instead of simply backing a horse to win, or betting each-way, Betfair gives you the opportunity to back a horse to place i.e. to finish in the first 3 or 4 in the race depending on the number of runners. Because Betfair does not reduce the positions on which it pays out when a non-runner is declared, it is quite possible to be paid on the first 3 places in a race with 7 or less horses. This method will produce a very consistent and sustainable strike rate.
3. Each Way Betting.
Betfair, whilst being a valuable tool, does not offer the traditional each-way bet in the same form as the bookmaker, and there is a way of applying this known as the “each-way steal” that puts the odds firmly in your favour. The bookmakers hate to take these bets, but have no choice. In certain races, where you have 8 or 9 runners and a strong favourite, the each-way odds on the second or third favourite will often pay statistically above the true price for the place part of the bet. Backing the horse each-way and laying part of the win on Betfair can therefore produce long-term profits.
These are just a few of the strategic approaches that can be used on horse racing alone, but similar techniques can be used across all sports.