Smartest Bet in Horse Racing
You want to know the smartest bet in horse racing, but don’t know much about betting on horses? You came to the right place, my friend. I have been betting on horse races my entire life. Helping out a fellow punter in his racehorse betting adventure is the least I can do.
So how can you make money from betting on horses? Well, the first thing that you should do is find a bet that gives you an advantage over the bookmaker. This is easier said than done, as in most bets, it is the bookmaker that has the advantage and not you.
However, there is one wager in horse racing that is different. This wager lets you create real value with every bet you make. It is called each-way, and here’s why it is better than other bets on horses.
What is Each-Way Betting?
Each-way betting is when you bet that your horse will either win or place. This means that if your horse finishes first in the race, you have a winning wager. If your pick places, you still win the bet, but at lower odds. With your each-way wager, you cover more than one finishing position, and as a result, increase your chances of winning.
But what does place mean in each-way betting? When a horse places, it doesn’t win the race but finishes in the place positions. Place positions can be the second, third, and fourth finishing spots depending on the number of horses in the race.
If a race has 5-7 horses in it, the first two horses place. On the other hand, if the race has 8-15 horses, the first three horses finish in the place positions. In handicapped races, where there are 16 or more competitors, the first four horses place.
When you bet each-way, you make not one but two bets. The first bet is on the horse to triumph, and the second is on the horse to place. This means that if you stake €5 on one horse, you will have to place €10 when you bet each-way.
If your horse wins, the entire wager is a winning one. If your selection places, on the other hand, you will only get a smaller profit as only the place wager will be successful.
Why Betting Each-Way is a Smart Move?
There are two advantages to betting each-way. The first one is pretty obvious. Each-way betting is superior to other horse racing bets because it increases your chances of winning. You can be successful if your horse triumphs or if he places.
This aspect of each-way allows for large potential winnings. At the same time, it provides a safety cushion in case your horse doesn’t triumph. Other bets such as Win, Place, Pick 3, Pick 4, or Pick 6 don’t have this.
Place, for instance, does give you the safety cushion of each-way, but your winnings will be much smaller if your horse wins.
On the other hand, if you bet on win, you will get large winnings if your selection wins but will be without your safety net if it loses. Each-way gives you the best of both worlds.
The second advantage of each-way is in how bookmakers calculate each-way odds. It is very important to understand this as it can be very beneficial for you, the punter. So how do bookies calculate each-way odds, and how can you profit from them?
Bookmakers derive place odds from win odds. Place odds are always 1/5 of a horse’s win odds (1/4 in races of 16 or more horses). The important thing here is that these odds are always constant.
This allows for very profitable betting opportunities. Below, I will tell you how experienced punters profit from betting each-way, and why they consider it as the best wager in horse racing betting.
How to Make Each-Way Bets Profitable?
The best way to make money from horse racing is to look for races that have a relatively strong favourite. When there is a horse that is a strong favourite, the odds for that horse will be relatively low. This will push up the odds of other horses.
Now you have a situation in which all horses, except one, have very high odds. This is great. Do you know why? Because at least two of those horses with high odds will place once the race ends. This is your chance to have a winning bet.
Let’s say that you are betting on a race in which the favourite to triumph is Mean Fomhair. He comes with odds of 2.75 and is a strong favourite. The second favourite is Atlas, and he has odds of 7.00. Atlas is your horse.
The strong favourite, Mean Fomhair, has pushed Atlas’ win odds higher. And as I already told you, place odds are always a fixed percentage of win odds. This means that Atlas’ place odds will be pretty high too.
If you choose Atlas, you will likely have a horse that places, or possibly wins the race. If he places, your winnings will be small but will be winnings nonetheless. However, if Atlas triumphs, and don’t forget, he is the second favourite in the race, then your winnings will be enormous.
As you can see, betting on horse races can be very profitable. And there aren’t many bets better than each-way in this regard. With each-way, you can profit if your selection wins or places.
To be successful at each-way wagers, always choose races that have a strong favourite. A heavy favourite will push the odds of other horses up, even those that might have a decent chance of winning too. These other competitors are the horses that you should pick in your each-way bets.
If your each-way selection wins, your winnings will be enormous. If your pick places, you will still get some profit to fuel your future bets.
1. Can you make money on horse racing?
· Yes, you can. To do this, first choose a potentially lucrative bet, such as each-way. Then pick a horse that is not a big favourite to triumph but will likely place. Lastly, you back that horse with a suitable stake.
2. How do you win horse racing bets?
· Your best chance to win as many horse racing bets as possible is to have a consistent betting strategy. Betting each-way and backing horses to either triumph or place is an approach that can be quite profitable in the long-run.
3. Why do people bet on horse racing?
· People bet on horse racing because it is fun and, if they do their betting homework, it can be quite profitable too.