10 Rules in Horse Betting
Rule 1: Money Management
The first rule for serious gamblers is to incorporate a money management system to help themselves know how much money they could safely wager on any given bet. Each player has a different style, so everyone is advised to choose a system that conforms to their own specific taste and bankroll.
Rule 2: Do Not Chase
Have you ever been in a situation when after losing, you try to bet on a race that you would not have normally wagered on had you won the previous bets? Usually, you end up losing even more. It's difficult but you must learn how to take losses. Don't chase after success, there's always tomorrow.
Rule 3: Stay away from Sure Things
When gambling on horses, there is no such thing as a sure thing. We all experienced this firsthand on the tracks. I met four trainers who are confident that their horses would win. But I trusted my instincts and bet on a different horse. I won, and those four horses didn't even finish on the top. There is no easy money; make your own decisions and trust your choices.
Rule 4: Keep Records
Keeping records makes sure that your system works which you could determine after at least 100 bets. Keep a record of the type of wager, together with the profits and losses, this allows you to learn from your mistakes by focusing on strengths and eliminating weaknesses.
Rule 5: Look for Value
Other people have different perceptions of value but I define it as the risk versus the potential reward. In determining value, I don't limit myself to specific odds. The point is to increase your return on investment for the long run.
Rule 6: Don't Force a Bet
Horse handicappers find this difficult to follow with lots of races happening every day. You should remember not to make a bet unless it is a smart one. A strict discipline is needed not to bet on races that you might regret in the future.
Rule 7: Be Flexible on Betting Angles
Successful handicappers don't follow a single betting angle since it would just limit their potential profits. The best practice is to learn how to combine various angles. When looking for a winner, keep an eye out for the speed figures, pace, drop downs, pedigrees etc.
Rule 8: Be Prepared
Even before the track opens, the first thing to do is to look for races with value. Get the scratches and see if it affects your selections. You could then adjust or cancel your play accordingly. This gives you time to view the horses and tote board before betting.
Rule 9: Trust Your Instincts
Go with your first instincts. The trick is that once you've made your decision, just stick with it and avoid second-guessing yourself. Hone your skills to be a successful handicapper.
Rule 10: Have the Winner's Attitude
Without this attitude, you've already lost even before you've begun. Confidence carries over in your attitude allowing your subconscious mind to make accurate decisions. You should have the proper mindset in gambling.